Dublin, April 19, 2024 (GLOBE NEWSWIRE) -- The "Oleoresins - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Oleoresins Market to Reach $2.3 Billion by 2030
The global market for Oleoresins estimated at US$1.4 Billion in the year 2023, is projected to reach a revised size of US$2.3 Billion by 2030, growing at a CAGR of 6% over the analysis period 2023-2030.
Oleoresins, pure extracts of spices and herbs, are gaining traction in the global market, as reflected in the Oleoresins - Global Key Competitors Percentage Market Share in 2023. The competitive market presence categorizes players worldwide as strong, active, niche, or trivial in 2023. Despite economic fluctuations, the global economic outlook remains favorable.
Oleoresins, defined by their types and benefits, are positioned for growth due to several factors. Recent market activity underscores the increasing interest in oleoresins. Strong prospects for spices and seasonings, driven by recovery in the restaurant industry, rise of cloud kitchens, and demand for packaged spices in hotels and restaurants, bode well for spice oleoresins.
Seed Spices, one of the segments analyzed in the report, is projected to record 7.2% CAGR and reach US$557 Million by the end of the analysis period. Growth in the Paprika segment is estimated at 5.6% CAGR for the next 8-year period.
Moreover, the rise in demand for natural food coloring, amidst robust demand for processed foods like functional foods, drinks, meat, sauces, condiments, and baked products, is expected to drive growth in the oleoresins market. This surge is further fueled by the focus on safety, driving demand for natural food colors.
The U.S. Market is Estimated at $528.3 Million, While China is Forecast to Grow at 8.7% CAGR
The Oleoresins market in the U.S. is estimated at US$528.3 Million in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$262.3 Million by the year 2030 trailing a CAGR of 8.7% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.6% and 5.3% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 5.2% CAGR.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 457 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $1.4 Billion |
| Forecasted Market Value (USD) by 2030 | $2.3 Billion |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Global |
MARKET OVERVIEW
- Oleoresins - Global Key Competitors Percentage Market Share in 2023 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
- Global Economic Outlook
- Oleoresins: Definition, Types & Benefits
- Recent Market Activity
- World Brands
MARKET TRENDS & DRIVERS
- Strong Outlook for Spices & Seasonings Brightens the Outlook for Spice Oleoresins Which Are Pure Extracts of Spices & Herbs
- Robust Addressable Market Opportunity for Spice Oleoresin: Global Consumption of Spices & Seasonings (In 000 Metric Tons) for Years 2020, 2022 and 2024
- Recovery of the Restaurant Industry, Rise of Cloud Kitchens & Demand for Packaged Spices in Hotels & Restaurants to Drive Demand for Oleoresins
- Global Food Service Industry (In US$ Trillion) for Years 2020, 2022, 2024 and 2026
- Rise in Demand for Natural Food Coloring Against a Backdrop of Robust Demand for Processed Foods to Spur Growth of Oleoresins in the Food Industry
- Robust Outlook for Processed Foods (Functional Foods, Drinks, Meat, Sauces, Condiments, and Dressing & Baked Food Products)
- Focus on Safety Spurs Demand for Natural Food Colors
- Global Packaged Food Opportunity (In US$ Trillion) for Years 2020, 2022, 2024 and 2026
- Rise in Demand for Ethnic Foods to Drive Up Consumption of Spice Oleoresins
- Robust Appetite for Ethnic Foods Spurs Opportunity for Spice Oleoresins: Global Market for Ethnic Foods (In US$ Billion) for Years 2020, 2022, 2024 and 2026
- Growing Demand for Natural Extracts in Nutraceuticals to Spur Growth for Oleoresins
- Healthy Outlook for Nutraceuticals
- Strong Gains for Nutraceuticals with Natural Extracts: A Boon for Oleoresins
- Global Opportunity for Nutraceuticals (In US$ Billion) for Years 2021, 2023, 2025 and 2026
- Here's How Oleoresins Find Use in Pharmaceuticals & Nutraceutical Industries
- Increasing Preference for Natural Ingredients in Cosmetics and Personal Care Market Drives Demand for Oleoresins
- Rapidly Changing Consumer Perception Towards Natural Ingredients in Personal and Cosmetics Products Highlights Growth Opportunities for Oleoresins: Global Organic Cosmetics and Personal Care Market (in US$ Billion) for the Years 2018, 2020, 2022, 2024 and 2025
FOCUS ON SELECT PLAYERS(Total 81 Featured)
- Greenleaf Extractions Private Limited
- Ambe Phytoextracts Pvt., Ltd.
- Akay Organics Ltd.
- Bio Actives Japan Corporation
- Kalsec, Inc.
- Hawkins Watts Limited
- Advanced Biotech
- AVT Natural Products Limited
- Ernesto Ventos S.A.
- HDDES Group
- Aromaaz International
- Indian Essential Oils Suppliers
- Janvi Herbs
- Gum Chemical Solutions
- Daisyo
For more information about this report visit https://www.researchandmarkets.com/r/ie4m04
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