According to IMARC Group latest report titled “Oleoresin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on oleoresin market size. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global oleoresin market size reached US$ 1.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.0 Billion by 2028, exhibiting a growth rate (CAGR) of 6.46% during 2023-2028.
What are oleoresin?
Oleoresins represent natural extracts with a complex mixture of fatty oils and resins that are obtained through a solvent extraction process. They provide several advantages over conventional herbs and spices, including heat stability, flavor consistency, cost-efficiency, microbial contamination prevention, easy storage and handling, and long shelf life. The usage of oleoresins varies depending on their properties, such as paprika oleoresin is mainly used as a colorant and flavoring agent in sauces, beverages, cheese, confectionery, and processed meat products. On the other hand, black pepper oleoresins are extensively utilized in health products as they impart taste and have antioxidant properties. As a result, these components find widespread applications across various sectors, including food and beverage (FB) and pharmaceutical.
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What are the growth prospects and trends in the oleoresin industry?
The escalating demand for snacks and fast-food items, on account of the inflating per capita income and the changing consumer preferences is among the primary factors driving the oleoresin market. Besides this, the growing popularity of ethnic cuisines with exotic flavors, the expanding food and beverage (FB) industry, and the elevating product requirement in gourmet restaurants and luxury hotels are further augmenting the market growth. Moreover, oleoresins are widely utilized in the pharmaceutical sector to prepare medicines and the personal care industry to manufacture soaps and body lotions, which is also catalyzing the global market. Apart from this, the replacement of artificial ingredients by the leading food manufacturers with clean label ones, owing to the improving awareness among individuals toward maintaining health and the increasing willingness to spend on high-quality products, is acting as another significant growth-inducing factor. Furthermore, the inflating need for these mixtures in the agriculture sector as natural colorants and flavoring agents in animal feed for domestic livestock is anticipated to propel the oleoresin market over the forecasted period.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Akay Natural Ingredients Private Limited
- Ambe Phytoextracts Pvt. Ltd.
- AVT Natural Products Limited
- Bioprex Labs
- Gurjar Phytochem Pvt. Ltd.
- Jean GAZIGNAIRE S.A.S.
- Kalsec Inc.
- Kancor Ingredients Ltd
- Plant Lipids
- Synthite Industries Ltd
- Universal Oleoresins
Oleoresin Market Segmentation:
Our report has categorized the market based on region, product and application.
Breakup by Product:
- Paprika
- Black Pepper
- Capsicum
- Turmeric
- Ginger
- Garlic
- Onion
- Others
Breakup by Application:
- Food and Beverages
- Flavors
- Pharmaceuticals
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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