Global Oleoresin Market Report and Forecast 2023-2028

Global Oleoresin Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global oleoresin market attained a value of USD 1889 million in 2022. Aided by the increasing demand for natural food additives and the growing popularity of ethnic foods, the market is projected to further grow at a CAGR of 4.3% between 2023 and 2028 to reach a value of USD 2462.68 million by 2028.

Oleoresins are concentrated liquid extracts derived from spices, herbs, or other plant materials. They are obtained through the process of solvent extraction, which involves the use of solvents to extract the essential oils and other active components from the plant material. Oleoresins contain the natural flavour and aroma profiles of the original plant material and are widely used as flavouring agents, colorants, and preservatives in the food and beverage, pharmaceutical, and cosmetics industries.

The global oleoresin market growth is primarily driven by the increasing demand for natural food additives. As consumers become more health-conscious and aware of the potential health risks associated with synthetic additives, they are seeking natural alternatives to enhance the flavour, colour, and shelf life of food products. Oleoresins, being natural and derived from plant sources, are gaining popularity as they can effectively replace synthetic additives in various applications.

Another key factor fuelling the oleoresin market expansion is the growing popularity of ethnic foods worldwide. As consumers are increasingly exposed to various cuisines and flavours through travel, media, and multiculturalism, the demand for authentic taste profiles is on the rise. Oleoresins, with their ability to replicate the flavour and aroma of fresh spices and herbs, are widely used in the preparation of ethnic dishes, driving their demand in the global oleoresin market.

Additionally, the oleoresin market is witnessing a surge in demand due to the expanding applications of oleoresins in various industries. Oleoresins are used in the pharmaceutical industry for their medicinal qualities, such as their anti-inflammatory, antioxidant, and antibacterial actions, in addition to their use in the food and beverage sector as flavouring agents and colourants.

Market Segmentation

The market can be divided based on product, application, and 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 EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global oleoresin companies. Some of the major key players explored in the report by Expert Market Research are as follows:

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

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