According to IMARC Group latest report titled “Oleoresin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on oleoresin market outlook. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global oleoresin market size reached US$ 1.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 2.5 Billion by 2032, exhibiting a growth rate (CAGR) of 5.5% during 2024-2032.
Oleoresins are highly concentrated pure extracts of spices or herbs. These are obtained by solvent extraction of the spices and herbs, which is then followed by solvent removal, typically yielding a viscous liquid containing the aroma and flavor components of the original spice. They are used as flavorings in the food processing industry to impart taste and aroma while maintaining consistency in flavor profiles. They are available in various types, including capsicum, black pepper, turmeric, ginger, and cinnamon, among others. The main advantages of oleoresins include their longer shelf life, ease of storage, and transport, as well as their ability to provide uniform flavoring, which makes them particularly useful in large-scale food manufacturing where spice and herb standardization is required. Additionally, oleoresins are used in pharmaceuticals, personal care, and other industrial applications due to their potent properties and concentrated forms.
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Market Trends:
The global market is witnessing significant growth, driven by increasing demand from the food processing, pharmaceutical, and cosmetics industries. This growth is primarily fueled by the shift towards natural and clean-label ingredients, as consumers increasingly prefer products free from synthetic additives. Along with this, the versatility and efficacy of oleoresins in delivering consistent flavors and medicinal attributes without the complexity of handling whole spices are particularly appealing in industrial applications. In addition, technological advancements in extraction methods have improved the efficiency and purity of oleoresins, making them more attractive for manufacturers. Apart from this, the expansion of the global food industry, coupled with rising consumer spending on convenience foods and natural products, continues to propel the demand for oleoresins. Moreover, regulatory support for natural additives across numerous countries is further augmenting market growth, ensuring oleoresins remain a key ingredient in various industry sectors.
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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 (2018-2023)
- Market Outlook (2024-2032)
- 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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