Oleoresins Market

Oleoresins Market Size, Share, Growth (2022-2027)

Oleoresins Market value was valued at USD 1.44 Billion in 2022 and is expected to grow to 1.7 Billion in 2027 at a CAGR of about 4.7%.

Overview: 

Increasing acceptance of oleoresins is expected to have a positive impact on growth in the food and beverage, pharmaceutical, and medical industries. The players in the industry are often engaged in strategic partnerships with end-user industry users of technology. High investment in R&D is expected to be a critical factor in market expansion in order to improve technical efficiency. As they have a standardized aroma and taste, oleoresins are used as an alternative to ground spices. They can be changed according to different products' specific flavor requirements. These also have a long shelf life, making them less vulnerable to bacterial infection of any kind. Oleoresins are not used as much as spices on the surface, but these play a vital role in improving food scent and taste. The drug serves as a depressant nervous system due to its anti-inflammatory and insecticide effects and also helps to regulate fever and discomfort. Because of their analgesic, anti-oxidant, anti-cancer and anti-inflammatory qualities, oleoresins are also used in medicinal applications.

Oleoresins Market Drivers:

The market for oleoresins is driven by its widespread use in the food and beverage field, as it is a common ingredient, and the increasing demand for the material in the pharmaceutical industry, as it is now used in many medications.

Due to its anti-inflammatory and anti-oxidant properties, rising gastrointestinal diseases are expected to increase product demand. 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 boost product consumption over the forecast period. Nonetheless, due to the increase in the prices of various raw materials, the oleoresins demand may be small, which in turn leads to a rise in the cost of production.

REPORT COVERAGE:

Oleoresins Market Regional Presence:

During the forecast period, North America is expected to account for the largest market share. In 2018, the market share of oleoresins in North America accounted for 40.8 percent. This is attributed to this region's high consumption of processed food, which inadvertently leads to increased demand for oleoresins. In Asian countries, the use of traditional plant-derived treatments and medicines continues to persist. Because of the rising cases of diseases caused by chemicals and industrial goods, the industry has gained momentum globally at a commercial level over the past 10 to 15 years. Also, increasing spending on plant-derived nutritional & health products is expected to extend the growth opportunities in the Asia Pacific oleoresin market for key manufacturers. Because of these factors, during the forecast period, the region is projected to grow at the highest CAGR.

Oleoresins Market Segmentation:

By Source

• Capsicum

• Seed Spices

• Turmeric

• Ginger

• Cinnamon and Cassia

• Herbs

• Other

By Application

• Food and Beverages

• Pharmaceuticals and Nutraceuticals

• Personal Care Products

• Feed

By Extraction Process

• Solvent Extraction

• Supercritical Fluid Extraction

Oleoresins Market Key Market Players:

1. Synthite Industries Pvt. Ltd. (India)

2. AVT Naturals (India)

3. Akay Group (India)

4. Givaudan (Switzerland)

5. Gazignaire (France)

6. Vidya Herbs Private Limited (India)

7. PT Indesso Aroma (Indonesia)

8. Ungerer & Company (US)

9. Plant Lipids (India)

10. Kalsec Inc.(US)

11. Kancor Ingredients Ltd. (India)

12. Universal Oleoresins (India)