Oleoresin Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Oleoresin Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Oleoresin Market

The Oleoresin Market size was valued at USD 1.49 billion in 2023, and the market is now projected to grow from USD 1.56 billion in 2024 to USD 2.34 billion by 2032, exhibiting a CAGR of 5.20% during the forecast period of 2024-2032.

215 countries and almost each person in this world was affected by COVID-19. Along with people many operation such as the global supply chain of spices and herbs, was affected by lockdown measures and government emergency and compliances. With projection, it was clear that the situation will be going to be normal and supply will be steady. The pandemic has made one thing clear is that how fragile the herbs and spices supply chains are, due to which during lockdown there was multiple issues where the market knew how unreliable supply chain is and subsequent price increases reduces demand for piece & herbs extracts, impacting the overall Oleoresin Market Growth.

Oleoresins are know for their natural flavours and food colouring. These are extracted from herbs and spices, which gives them concentrated flavour and aroma with quick release, and can be used in processes foods such as sauces, soups, cheeses, dressings, snacks, and beverages. With rising trend of using natural flavour, the food industries are witnessing expansion in Oleoresin Market Share. Restaurants with quick-service food deliveries, are addressing the challenge of side effects coming from the usage of synthetic flavours and giving their customers herbal extracts and colour, leading to the rising popularity of the market.

The market factors such as international travel, trade, and immigration is changing the consumer demand for food, such as tacos and pasts are now become a part of a local cuisine, globally. Consumers present in different regions are demanding healthy foods with exotic flavours, rising the demand for ethnic foods. Food manufacturers are also working on more usage of spices and herb extracts in their products, but facing challenges with unstable supply of raw materials, mitigating the demand for these extracts. In the developing nations there are various opportunity for spice and herb extract exporters, as regions are looking for more market growth and with manufacturers shift to oleoresins, fueling the market with more advantage over traditional spices.

Comprehensive Analysis of Oleoresin Market

The Oleoresin Market and Food & Beverages industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessments considering the dominant supply and demand forces that impact the pharmacy benefit management industry. These segmentations are methodically segregated By Product Type Analysis and By Application Analysis. The types of product include, Paprika, Capsicum, Black Pepper, Turmeric, Ginger, Cinnamon & Cassia, & Others. However, the application are Food & Beverages, Animal Feed, Pharmaceuticals, & Cosmetics.

In 2023, Europe has reported the dominance over Oleoresin Market, and continue to see growth. The region has large market with high consumption of essential ingredients in food and beverage. The older and middle-aged consumer segment is shifting towards totally natural products, leading to the high demand for spice oils and food colouring products, and driving market growth. With rising disposable income, and changing lifestyle, consumer base in Europe is willing to spend in natural products, increasing the demand for convenience foods.

The top players in the market play a crucial role in the Food & Beverage industry assuring industrial prospectus growth and setting market standards. These players include,Synthite Industries (India), PT Indesso Aroma (Indonesia), Ungerer & Company (U.S.), Universal Oleoresins (India), Plant Lipids (India), Akay Group (India), Gazignaire SA (France), AVT Naturals (U.S.), Kalsec Inc. (U.S.), Ozone Naturals (India), these market players provide a level-playing competitive landscape.

February 2020: Mane Kancor Ingredients Pvt Ltd, a well know food ingredient company, have invested USD 20 millions to expand its existing production facilities. The company’s primary goal from this investment is to expand its production capacity, with maximum revenue coming from international market specially India.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 5.20% from 2024-2032

Unit Value (USD Billion)

Segmentation By Product Type

Paprika

Capsicum

Black Pepper

Turmeric

Ginger

Cinnamon & Cassia

Others

By Application

Food & Beverages

Animal Feed

Pharmaceuticals

Cosmetics

By Geography

North America (By Product Type, By Application, and By Country)

- U.S. (By Application)

- Canada (By Application)

- Mexico (By Application)

Europe (By Product Type, By Application, and By Country)

- U.K. (By Application)

- Germany (By Application)

- France (By Application)

- Italy (By Application)

- Spain (By Application)

- Russia (By Application)

- Rest of Europe (By Application)

Asia Pacific (By Product Type, By Application, and By Country)

- China (By Application)

- India (By Application)

- Australia (By Application)

- Japan (By Application)

- Rest of Asia Pacific (By Application)

South America (By Product Type, By Application, and By Country)

- Brazil (By Application)

- Argentina (By Application)

- Rest of South America (By Application)

Middle East & Africa (By Product Type, By Application, and By Country)

- UAE (By Application)

- South Africa (By Application)

- Rest of Middle East & Africa (By Application)


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