Global Oleoresins Market


Posted December 27, 2019 by ganpan

Global Oleoresins Market - Segment Analysis, Opportunity Assessment, Competitive Intelligence, Industry Outlook 2016-2026

 
The rising trend in the use of natural flavors in processed food and a growing number of QSRs has led to an increase in oleoresin demand. The increase in awareness of the side effects of synthetic flavors and health benefits offered by phytomedicines and herbal extracts has driven the market's growth significantly. Additionally, key players' technological advances in most regions have resulted in high demand for Oleoresins products.
The Global Oleoresins Market was valued at USD 1.1 billion in 2018 and is expected to reach USD 2.4 billion in 2026, growing at a CAGR of 9.1% during the forecast period.
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Oleoresins ability to impart exotic flavors and superior solubility characteristics, oleoresins are commonly used in food & beverage as well as in the personal care products industry. The product is the best alternative for whole ingredients and has several uses, such as preparations for jellies and jams, milk, butter, pickles and meat preparations as a coloring agent, frozen food, dessert, and others.
Increasing consumption of processed meat, chocolate, and baked food products is likely to increase demand for oleoresin as a food flavoring agent. Demand for food additives and a growing number of multi-cooking restaurants around the globe will also fuel consumer consumption over the period projected. Also, increasing demand from the food & beverage industry, the pharmaceutical industry, and others for exotic food flavors and efficient natural coloring agents contribute positively to the growth of the oleoresin market.
By source segment, the paprika oleoresin segment dominate the Oleoresins market accounting 40% market share.
Based on the source, the global Oleoresins Market has been segmented into paprika, turmeric, herbs, ginger, and others. Due to the increased use of paprika oleoresin as a coloring and flavoring agent in the processed food industry, which is experiencing continuous growth across the globe, Paprika product segment is expected to experience crucial growth over the forecast period. It is commonly used in dried emulsified foods, sweets, sauces, mixtures of spices, orange juice, and cheese. Europe is one of the largest paprika oleoresin markets.
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Based on application, the food & beverages segment grows at the fastest rate of CAGR at 11% during the forecast period
Based on the application, the market has been segmented into food & beverages, pharmaceutical & nutraceutical, personal care products, and other application. Due to changing consumer preferences, rising demand for specialty food ingredients as well as organic food ingredients is expected to increase oleoresins production. The use of oleoresins in the manufacture of baked food products and processed food is expected to further support the growth of the segment during the forecast years due to their increased consumption worldwide.
North American region to dominate the Oleoresins market throughout the forecast period
North America accounted for nearly 44% share of the global oleoresins market in 2018 and is expected to dominate the market throughout the forecast period. This is attributed to this region's high consumption of processed food, which inadvertently leads to increased demand for oleoresins. Oleoresins such as paprika, black pepper and ginger are widely used in the food & beverage sector as coloring and flavoring agents. In Europe, various end-use industries, such as personal care & cosmetics, perfumery and pharmaceutical, incorporate oleoresins extensively into their products. Austria, the United Kingdom, Germany, Belgium and Spain are some of Europe's major importers.
Company Profiles and Competitive Intelligence:
The major players operating in the global Oleoresins Market are Akay Group (India), Synthite Industries Pvt. Ltd. (India), AVT Naturals (India), Givaudan (Switzerland), PT Indesso Aroma (Indonesia), Vidya Herbs Private Limited (India), Ungerer & Company (US), Kancor Ingredients Ltd. (India), Plant Lipids (India), Kalsec Inc.(US), Gazignaire (France), and Universal Oleoresins (India).
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Categories Affiliate Program , Architecture , Baby
Tags oleoresins
Last Updated December 27, 2019