Global Oleoresin Market Report and Forecast 2022-2027

Global Oleoresin Market Report and Forecast 2022-2027

Market Outlook

According to Expert Market Research’s latest report, ‘Global Oleoresin Market Report and Forecast 2022-2027’, the global oleoresin market attained a value of USD 1783.8 million in 2021. Aided by the escalating health consciousness, the market is projected to further grow at a CAGR of 4.5% between 2022 and 2027 to reach a value of USD 2356.2 million by 2027.

Oleoresins are semi-solid extracts prepared from the evaporation of spices such as cardamom, cinnamon, fenugreek, ginger, turmeric, vanilla, and others. These oleoresins are majorly used as flavouring agents across several end use industries. For instance, in beverages and confectioneries, oleoresins are used to induce flavour and aroma. Meanwhile, oleoresins also offer medicinal benefits leading to their increased use in the pharmaceutical industry as an ingredient to reduce muscle or joint pain. In addition, oleoresins also find use as an aromatic compound in perfumes, soaps, and other personal care products. Additionally, oleoresins are also used in the production of tear gas and pepper sprays.

The rising awareness regarding the health benefits of oleoresin as a natural flavouring agent and the disadvantage of using synthetic flavours is projected to bolster the market growth. This can be attributed to the growing consumer demand for clean-labelled products. In addition, the increasing purchasing power of consumers and their willingness to spend more on premium quality products are projected to propel the growth of the market. In this regard, oleoresins are increasingly used as a colourant and flavouring agent in processed foods such as juices, sauces, and packaged meat products. Moreover, the increased shelf life of oleoresins leads to their extensive use in preserving food items like pickles and curry powders. Furthermore, the antioxidant, anti-cancer, and anti-inflammatory properties of oleoresins are leading to their increased usage in pharmaceutical products, which is expected to support the market growth. Moreover, the growing investments by the key industry players to develop improved flavour profiles for a range of food applications are expected to enhance the demand for oleoresins in the forecast period.

Market Segmentation

The market report by Expert Market Research analyses the market based on segmentations such as product, application, and major region.

Market Breakup by Product

• Paprika
• Black Pepper
• Capsicum
• Turmeric
• Garlic
• Onion
• Others

Market Breakup by Application

• Food and Beverages
• Pharmaceuticals
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the key players in the industry. Some of the major players in the market explored in the Expert Market Research report are:

• Universal Oleoresins
• Trilogy Essential Ingredients, Inc.
• Paprika Oleo's (India) Ltd.
• S.A.S. Jean GAZIGNAIRE
• Indesso
• Synthite Industries Private Limited
• Others

*We, at Expert Market Research, always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.