Increasing Food Additive Demand To Make Way For Oleoresin Market By 2030

Oleoresin Industry Overview

The global oleoresin market is expected to reach USD 2.60 Billion by 2030, as per the new report by Grand View Research, Inc. The growth is majorly driven by increased demand from the pharmaceutical, healthcare, and food and beverage industries. Therapeutic properties and multiple health benefits of oleoresins are considered to be major driving forces for the oleoresin market.

Oleoresin Market Segmentation

Grand View Research has segmented the global oleoresin market report based on the product, application and region

Based on the Product Insights, the market is segmented into Paprika, Black Pepper, Capsicum, Turmeric, Ginger, Garlic, Onion, Seed Spice, Herbs and Others

• Black pepper products dominated the global oleoresin market with more than 23% revenue share.
• The growth of the segment is attributable to the extensive use of black pepper in the food and beverage industry.
• Black pepper is used as a spice, flavoring agent, additive, and as well as coloring agent. It is also used for healing cuts and wounds and also sometimes used in the perfume industry.
• Turmeric is the fastest growing product segment exhibiting proliferate growth in terms of revenue during the forecast period.
• This growth rate is attributed to high demand from the food, beverage, cosmetic, pharmaceutical, and healthcare industries.
• In recent years, capsicum oleoresin has gained wide popularity among law enforcement & police agencies owing to its usage as a pepper spray, which acts as a safe and effective means to avoid danger or threat from individuals.

Based on the Application Insights, the market is segmented into Food, Beverages, Fragrances, Pharmaceutical, Nutraceutical and Others.

• Food application dominated the market with a revenue share of over 27% in 2021. Its high share is majorly attributable to the extensive use of a variety of oleoresins in food as additives, flavoring agents, coloring agents, antioxidants, and others.
• The pharmaceuticals application segment is expected to exhibit a CAGR of 7.2% in terms of revenue during the forecast period. This is attributable to multiple health benefits of oleoresins and growing investment in pharmaceutical research and development.

Oleoresin Regional Outlook

• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The global market is highly competitive and has numerous players across the globe. The market is majorly driven by demand from the food, beverage, and pharmaceuticals industry. It is heavily affected by fluctuations and volatility in the raw material market.  For ensuring the constant supply of raw materials, the players have long-term contracts with the raw material producers.

Some prominent players in the Oleoresin market include

• Chenguang Biotech Group Co. Ltd.
• Kancor Ingredients Ltd.
• Kalsec Inc.
• Universal Oleoresins
• Givaudan
• Akay Group Ltd.
• Synthite Industries Ltd.
• AVT
• Indo - World
• Paprika Oleo's India Limited
• Paras Perfumers
• Manohar Botanical Extracts Pvt. Ltd.
• Naturite Agro Products Ltd
• MRT GREEN PRODUCTS
• All-Season Herbs
• TMV Aroma
• Plant Lipids
• Ozone Naturals

Order a free sample PDF of the Oleoresin Market Intelligence Study, published by Grand View Research.