Rockville, April 06, 2023 (GLOBE NEWSWIRE) -- The oleoresins market is forecasted to reach a valuation of US$ 2.7 billion by the end of 2032, increasing at a noteworthy CAGR of 6%.
Increasing consumption of organic and natural foods and changing consumer preferences are expected to drive the growth of the oleoresins market in the future. Increasing world population, rising disposable income, and growing popularity of ethnic cuisines in Western countries are other factors that could potentially uplift the demand for oleoresins over the coming years.
On the contrary, difficulties in stocking spices, improper availability, and fluctuating raw material prices are some dynamics that could inhibit market development through 2032.
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| Oleoresins Market Scope | |
| Report Coverage | Details |
| Historic period | 2017-2021 |
| Forecast period | 2022-2032 |
| Growth momentum & CAGR | Accelerate at a CAGR of 6% |
| Market growth 2023-2033 | US$ 2.7 Billion |
| Market structure | Fragmented |
| Regional analysis | North America, Europe, APAC, South America, and Middle East and Africa |
| Key countries | US, Canada, UK, France, and Germany |
| Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
| Key companies profiled | Paras Perfumers, Manohar Botanical Extracts Pvt. Ltd., TMV Aroma, Givaudan, Akay Group Ltd., Plant Lipids, Kancor Ingredients Ltd., Kalsec Inc., Universal Oleoresins, Synthite Industries Ltd., AVT, Indo-World, MRT GREEN PRODUCTS, All-Season Herbs, Paprika Oleo's India Limited, Naturite Agro Products Ltd., Ozone Naturals |
| Market dynamics | Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Prime vendors in the oleoresins marketplace are focusing on the expansion of their production and processing capabilities to increase their revenue generation capacity and gain a competitive advantage over other companies.
- In January 2022, Lycored, a leading producer of carotenoids, vitamins, and other functional ingredients, announced the launch of its new state-of-the-art facility in Branchburg, New Jersey, United States. The new plant also features single-solvent tomato oleoresin extraction that reduces water wastage in the plant and makes it more sustainable.
All the key developments from the market have been discussed in this brand-new oleoresins market research analysis by analysts at Fact.MR, a market research and competitive intelligence provider.
Key Takeaways from Market Study
- As of 2022, the global oleoresins market is valued at US$ 1.5 billion.
- Shipments of oleoresin products are anticipated to increase at a decent 6% CAGR through 2032.
- The market for oleoresins is estimated to reach US$ 2.7 billion by 2032.
- Flourishing food industry, growing use of oleoresins in pharmaceuticals, growing preference for organic and natural ingredient products, changing consumer preferences, and globalization are some notable aspects that will drive overall market growth.
- Volatility in raw material pricing and availability of spices are two major restraints that are expected to hurt market development in the long run.
- The market for oleoresins in the European region accounted for a dominant 30% market share in 2021.
- The China oleoresins market is pegged for expansion at 9.2% CAGR and is predicted to reach a value of US$ 210 million by 2032.
- Sales of paprika oleoresins are anticipated to increase at 6.1% CAGR over the next ten years.
“Increasing awareness of health benefits associated with oleoresins is expected to push pharmaceutical manufacturers to incorporate them in their drugs,” says a Fact.MR analyst
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Competitive Landscape
Key players in the oleoresins market are focusing on expanding their business scope and revenue generation capacity by launching new products.
- In March 2021, LycoRed Ltd., a developer of value-added nutrients announced the launch of a new oleoresin. The new oleoresin product is formulated from Haematococcus Pluvialis algae and can be used in soft gels.
- In December 2020, DolCas Biotech Ltd., a natural ingredient manufacturer announced the launch of Ginfort, which is a highly-concentrated all-natural ginger root extract. The proprietary extraction process used for Ginfort further optimizes the potency and functionality of oleoresins present in ginger.
Winning Strategy
Oleoresin manufacturers are expected to focus on increasing their production capacity to meet rising demand from the food and pharmaceutical industries. Oleoresin companies are also expected to invest in the research and development of novel products to gain a competitive edge over other market players and increase their market share.
Key Segments Covered in Oleoresins Industry Research
- By Product:
- Paprika
- Black Pepper
- Capsicums
- Turmeric
- Ginger
- Garlic
- Onions
- Seed Spices
- Herbs
- Others
- By Application:
- Food
- Beverages
- Fragrances
- Pharmaceuticals
- Nutraceuticals
- Other Applications
- By Extraction Process:
- Solvent Extraction
- Supercritical Fluid Extraction
- Other Processes
- By Region:
- North America
- Latin America
- Europe
- APAC
- MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global oleoresins market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market on the basis of product (paprika, black pepper, capsicums, turmeric, ginger, garlic, onions, seed spices, herbs, others), application (food, beverages, fragrances, pharmaceuticals, nutraceuticals, other application), and extraction process (solvent extraction, supercritical fluid extraction), across five major regions (North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa).
Key Questions Covered in the Oleoresins Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will the global Oleoresins sales grow until 2032?
- Which are the factors hampering the Oleoresins demand?
- Which region will spearhead the growth in the global industry by 2032?
- Which are the factors driving sales in the Oleoresins Market during the forecast period?
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