17th December 2019 – The global Oleoresin
Market is likely to grow at a significant CAGR during the forecast
period. Oleoresins are the fundamentals of spices that represent a holistic
view of flavor and taste attributes. Worldwide rising interest in use of
natural colorants for food products and red pepper or paprika is expected to
drive the market in the years to come. Oleoresin is highly vulnerable to light
and heat that causes oxidation and can result in deterioration of contents in
it.
Oleoresin market is driven by rise in
consumer awareness and health benefits associated. The anti-oxidant and
anti-microbial properties enable it as a natural food preservative. Increase in
demand for packaged spices in hotel and restaurants boosts the market growth in
the forecast period. Rise in population, change in lifestyle, and growth in the
number of fatal diseases across the globe is likely to affect the market growth
in the forecast period.
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Product segmentation for oleoresin
market includes paprika, black pepper, turmeric, ginger, garlic and onion.
Application segment for oleoresin industry includes pharmaceuticals, food
&beverages and flavors. Food & beverages segment accounts for a
substantial market growth. Geographical segmentation for oleoresins market
includes North America, South America, Europe, Asia-Pacific, Middle East and
Africa.
European market is likely to grow at a
significant CAGR in the forthcoming period as the region has considerable
market size and rise in consumption of ethnic foods that have resulted in
higher consumption in the regional market. Change in lifestyle along with rise
in consumption of natural food leads into a positive demand in the market.
North America accounts for a greater
market share in the forecast period due to rise in population and high
production of oleoresin. Rise in consumer demand and increase in health
benefits obtained by use of oleoresin in food is likely to propel the demand in
the U.S. market. The key players in the oleoresin industry include Plant
Lipids, Akay, Synthite, Indo World, Paprika Oleo’s, Paras Perfumers, Ambe
Group, Ungerer & Company, Asian Oleoresin Company, Bioprex Labs, and Cymbio
Pharma Pvt Ltd.
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