Oleoresins Market Share, Size, Trends, Industry Analysis Report, By Product (Paprika, Black Pepper, Capsicum, Turmeric, Ginger, Garlic, Onion, Seed Spice, Herbs, and Others); By Extraction Process; By Application; By Region; Segment Forecast, 2023- 2032
- Published Date:Jul-2023
- Pages: 116
- Format: PDF
- Report ID: PM3536
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global oleoresins market was valued at USD 1,511.86 million in 2022 and is expected to grow at a CAGR of 6.3% during the forecast period. The rapidly emerging trend of ready-to-eat food & beverages and surging demand for various types of organic ingredients in personal care, pharmaceuticals, and nutraceuticals products along with the growth in constant research & development of product utilization in numerous end-use applications due to its properties like antioxidant and anti-inflammatory among others, are the primary factors fueling the demand and growth of the market. In addition, improvements in product shelf life and ability of oleoresins in various certain diseases, which results in higher demand for drug formulation and also boost the focus of key players on introducing new products with advanced capabilities and properties, which is likely to bode well for the market growth.
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For instance, in April 2022, The Honest Company, announced the launch of its new Women’s Wellness Supplements, that includes Daily Mood Balance, Nightly Sleep Health, and Daily Immune Support. The new Daily Mood Balance contains a proprietary blend of phosphatidylcholine and rhodiola and ingredients like turmeric oleoresin and rosea extract, which helps in managing everyday stress and balanced mood.
The market research report offers an in-depth analysis of the industry to support informed decision-making. It offers a meticulous breakdown of various market niches and keeps readers updated on the latest industry developments. Along with oleoresin market on the basis of SWOT and Porter’s Five Forces models, the research report includes graphs, tables, charts, and other pictorial representations to help readers understand the key insights and important data easily.
Moreover, the growing penetration for microencapsulation technology, which involves enclosing oleoresins in a protective coating to improve their stability, shelf-life, and bioavailability and its ability to enable the controlled release of oleoresins, making them useful in a variety of applications such as pharmaceuticals and nutraceuticals.
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Industry Dynamics
Growth Drivers
The rapid increase in the consumption of processed food & beverage products across the globe, and surge in the prevalence of using natural flavors in processed food products, and the widespread presence or availability of quick-service restaurants across the globe are the primary factors boosting the market growth. The growing awareness among people regarding the several side-effects of synthetic flavors and benefits of herbal extracts as well as phytomedicines are also anticipated to create huge growth potential for the oleoresins market.
Furthermore, the rapid growth in technological advancements, which have made the extraction and processing of oleoresins more efficient, cost-effective, and eco-friendly such as the use of supercritical fluid extraction (SFE) technology to extract oleoresins without using solvents, driving the global market growth. Besides this, with the exponential growth of global travel and migration, ethnic cuisines are gaining popularity in many parts of the world, which has been propelling the market rapidly.
Report Segmentation
The market is primarily segmented based on product, extraction process, application, and region.
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By Product |
By Extraction Process |
By Application |
By Region |
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Black pepper segment accounted for the largest market share in 2022
The black pepper segment accounted for the largest market share in 2022 and is likely to retain its market position throughout the forecast period, which is mainly driven by widespread usage of the product in the food & beverage industry and growing use as a flavoring agent, spice, additive, and also coloring agent. In addition, the rising popularity of black pepper due to its several health benefits, such as improving digestion, relieving cold and cough, and reducing inflammation that, leads to its growing utilization in various health supplements and medicines across the globe, is further influencing the segment market.
The paprika segment is likely to exhibit a significant growth rate and account for a substantial share in the coming years due to the continuous rise in consumers increasingly demanding natural food colors over synthetic ones, as paprika oleoresin is a natural colorant derived from the red pepper resulting in bright red color to food products, which has led to an increase in demand for paprika oleoresin in the food industry globally.
Supercritical fluid extraction segment held the significant market share in 2022
The supercritical fluid extraction segment held a significant market share in terms of revenue in 2022, which is highly attributable to its numerous beneficial characteristics and features, including occurrence at low temperatures and ability to avoid heat and some organic solvents, providing a very gentle treatment to the heat-sensitive materials and also preserve their flavor and fragrance. Additionally, it has gained significant popularity as a potential method for direct coupling with analytical chromatographic techniques like Gas chromatography and supercritical fluid chromatography.
The solvent extraction segment is expected to grow at the fastest growth rate over the coming years because of its increasing prevalence as a cost-effective method for producing oleoresins at a large scale, making them a popular choice among many industrial applications. It further offers consistent product quality and has a longer shelf life than other extraction methods while meeting the specific requirements of end-user applications.
Pharmaceutical segment is anticipated to witness highest growth during forecast period
The pharmaceutical segment is projected to grow at a healthy CAGR during the projected period, mainly due to increasing consumer awareness and the rising focus of major pharmaceutical companies on utilizing oleoresin extracts for drug formulations coupled with the exponential growth in investment in pharmaceutical R&D worldwide.
The food segment led the industry market with substantial revenue share in 2022, mainly attributable to increasing product usage as a crucial flavoring agent to flavor their foods due to its properties to provide an authentic taste and adoption as a completely organic option. In addition, there has been a significant rise in the popularity of ethnic food products, mainly in countries like Italy, the UK, India, Mexico, China, & Spain, among others, as food product manufacturers are increasingly using oleoresin ingredients in place of using marinades, thereby propelling the segment market growth.
Europe region dominated the global market in 2022
Europe dominated the global market with a substantial market share in 2022 and is expected to maintain its dominance over the study period; that is largely accelerated by a drastic shift in consumer preference and predilection towards traditional foods and increasing product utilization in a wide range of healthcare remedies and applications. Moreover, advances in extraction technologies and techniques have made it easier and more cost-effective to extract oleoresins from natural sources and have also contributed to the growing availability and affordability of oleoresins across the region.
The Asia Pacific region is expected to be the fastest growing with a considerable growth rate during the anticipated period, owing to an increased rate of production and the emerging use of several new production technologies coupled with the rising number of governments in the APAC region, promoting the use of natural food additives including oleoresins, to reduce the use of synthetic additives which also helps in maintaining the good & healthy lifestyle.
Competitive Insight
Some of the major players operating in the global market include Kalsec, Synthite Industries, Indo-World, Paprika Oleo’s India, Paras Perfumers, Manohar Botanical, Naturite Agro Products, All-Season Herbs, MRT Green Products, Ozone Naturals, Plant Lipids, Akay Group, Kancor Ingredients, Universal Oleoresins, Chenguang Biotech, TMV Aroma, and Givaudan.
Recent Developments
- In March 2021, Lycored introduced a new line of astaxanthin products with a newly developed oleoresin from Haematococcus pluvialis algae, mainly designed for soft gels & starch beadle. It enhances the stability of several ingredients, minimizes the cross-interaction & protects against oxidation.
- In March 2021, Sensient Natural Ingredients completed the acquisition of New Mexico Chili Products. This acquisition strengthened its long-term business strategy and will advance its leadership position in the selected categories.
Oleoresins Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 1,604.08 million |
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Revenue forecast in 2032 |
USD 2,791.65 million |
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CAGR |
6.3% from 2023– 2032 |
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Base year |
2022 |
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Historical data |
2019– 2021 |
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Forecast period |
2023– 2032 |
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Quantitative units |
Revenue in USD million and CAGR from 2023 to 2032 |
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Segments covered |
By Product, By Extraction Process, By Application, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key companies |
Kalsec Inc., Synthite Industries Ltd., Indo-World, Paprika Oleo’s India Limited, Paras Perfumers, Manohar Botanical Extracts Pvt. Ltd., Naturite Agro Products Ltd., All-Season Herbs, MRT Green Products, Ozone Naturals, Plant Lipids, Akay Group Ltd., Kancor Ingredients Ltd., Universal Oleoresins, Chenguang Biotech Group Co. Ltd., TMV Aroma, and Givaudan. |
The analysis of oleoresin market extends to a comprehensive market forecast up to 2032, coupled with a retrospective examination. Avail yourself of a complimentary PDF download to sample this in-depth industry analysis.
FAQ's
The oleoresins market report covering key segments are product, extraction process, application, and region.
Oleoresins Market Size Worth $2,791.65 Million By 2032.
The global oleoresins market is expected to grow at a CAGR of 6.3% during the forecast period.
Europe is leading the global market.
key driving factors in oleoresins market are Growing Demand in Pharmaceutical Industry.
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