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Redding, California - June 11, 2024

Oleoresins Market to Reach $2.49 Billion by 2031

Oleoresins Market Size, Share, Forecast, & Trends Analysis by Source (Spices {Paprika, Black Pepper, Turmeric}, Capsicum, Marigold, Garlic), Extraction Process (Solvent Extraction), Application (Food and Beverages, Pharmaceuticals) - Global Forecast to 2031


Meticulous Research®—a leading global market research company, published a research report titled, 'Oleoresins Market Size, Share, Forecast, & Trends Analysis by Source (Spices {Paprika, Black Pepper, Turmeric}, Capsicum, Marigold, Garlic), Extraction Process (Solvent Extraction), Application (Food and Beverages, Pharmaceuticals) - Global Forecast to 2031.'

According to this latest publication from Meticulous Research®, the oleoresins market is projected to reach $2.49 billion by 2031, at a CAGR of 4.9% from 2024 to 2031.The oleoresins market is growing due to the increasing demand for oleoresins in the food and beverage and pharmaceutical industries, the growing demand for natural colors and flavors, and the increasing adoption of ethnic food. However, fluctuations in raw material prices and the high number of substitutes available in the market are expected to hinder market growth to some extent.

Moreover, the growing demand for natural and organic food products, increasing demand for vegan beauty products, and increasing utilization of oleoresins in animal feed are expected to provide market growth opportunities for the stakeholders operating in this market. Nevertheless, the substantial challenges faced by stakeholders in this market are the high production costs and the stringent regulations.

Furthermore, the increasing adoption of clean-label products and the increasing need for self-grooming products are major trends in the oleoresins market.

Key Players:

The oleoresins market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the oleoresins market are Synthite Industries Ltd. (India), Kalsec Inc. (U.S.), Symrise AG (Germany), Universal Oleoresins (India), Ozone Naturals (India), Givaudan SA (Switzerland), Akay Natural Ingredients Private Limited. (A Subsidiary of Oterra A/S) (India), Mane Kancor Ingredients Private Limited (India), Paprika Oleos [India] Ltd (India), Plant Lipids Private Limited (India), AVT Natural Products Limited (India), Henry Lamotte Oils GmbH (Germany), Vidya Herbs Pvt Ltd. (India), Extractos Vegetales S.A. (EVESA) (Spain), and Rüther Gewürze GmbH (Germany).

The oleoresins market is mainly segmented by source (spices {paprika, black pepper, turmeric, seed spice, and other spices}, capsicum, marigold, garlic, onion, herbs, and other sources), extraction process (solvent extraction, supercritical fluid extraction, and other extraction processes), application (food and beverages, cosmetics and personal care, pharmaceuticals and nutraceuticals, animal feeds, and other applications) and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyses the regional and country-level markets.

Based on source, the oleoresins market is segmented into spices, capsicum, marigold, garlic, onion, herbs, and other sources. In 2024, the spices segment is expected to account for the largest share of 44.6% of the oleoresins market. The large market share of this segment can be attributed to its growing usage of the spice’s oleoresins in various industries such as food & beverage, pharmaceuticals, animal feed, and cosmetics industry as a flavoring and coloring agent, health supplements, and formulation in drugs. Spice oleoresins, such as paprika oleoresin, are mostly used as a source of color in canned meats, sausages, smoked pork, sandwich spreads, soups, cheeses, orange juice, spice mixtures, sauces, and other food products. Furthermore, increasing demand for natural ingredients, adoption of ethnic food, and various health benefits are the factors fueling the growth of the market.

Based on extraction process, the oleoresins market is segmented into solvent extraction, supercritical fluid extraction, and other extraction processes. In 2024, the solvent extraction segment is expected to account for the largest share of 71.2% of the oleoresins market. The large market share of this segment is attributed to factors including cost-effective processes, established industry practice, suitable for large scale production, and mostly used for various industrial applications.

Based on application, the oleoresins market is segmented into food and beverages, cosmetics and personal care, pharmaceuticals and nutraceuticals, animal feeds, and other applications. In 2024, the food and beverages segment is expected to account for the largest share of 36.1% of the oleoresins market. The large market share of this segment can be attributed to the growing adoption of natural or organic ingredients in different food products, rising awareness regarding the benefits allied with the use of oleoresins in food and beverages products, increasing use of enhancing flavor, color, and aroma in a wide range of food products, and rising use in many food and drinks such as spice mixtures, sauces, cheese, processed meats products, sweets, and various fruits drinks.

Geographic Review

This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Russia, Belgium, Netherlands, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, Indonesia, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentina, and Rest of Latin America), and the Middle East & Africa.

In 2024, Europe is expected to account for the largest share of 34.5% of the oleoresins market. The large market share of this region is mainly attributed to the region’s growing awareness regarding health and wellness, growing demand for natural ingredients in food products for coloring and flavoring, stringent regulation and food safety, and shifting consumer preferences towards ethnic cuisine. Moreover, the growing consumer preferences for vegan cosmetics and personal care products and rising spending on health and wellness products further support the region’s growth.

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Key Questions Answered in the Report-

  • What is the value of revenue generated by the sale of oleoresins?
  • At what rate is the global demand for oleoresins projected to grow for the next 5-7 years?
  • What is the historical market size and growth rate for the oleoresins market?
  • What are the major factors impacting the growth of this market at global and regional levels?
  • What are the major opportunities for existing players and new entrants in the market?
  • Which product source, extraction process, and application segments create major traction for the manufacturers in this market?
  • What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the oleoresins market?
  • Who are the major players in the oleoresins market? What are their specific product offerings in this market?
  • What recent developments have taken place in the oleoresins market? What impact have these strategic developments created on the market?

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Oleoresins Market - Global Opportunity Analysis and Industry Forecast (2024-2031)
Report ID: MRFB - 1041226 Pages: 165 Formats*:PDF Category: Food and Beverages
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