BEIJING, June 23, 2022 (GLOBE NEWSWIRE) — The Global Oleoresin Market size accounted for USD 1,392 Mn in 2021 and is expected to reach USD 2,439 Mn by 2030 with a considerable CAGR of 6.6% during the forecast timeframe of 2022 to 2030.
Due to rising interest in organic aroma and taste in food and beverages, the oleoresins market is poised to increase the most during the forecast period. These are not susceptible to bacterial contamination and so have a longer expiration time frame than fresh or even powdered spices, boosting the market growth. Oleoresins are supposed to replace ground spices while retaining their tastes, fragrance, and texture. Market growth is being driven by the same characteristics as spices, as well as ease of storage and transportation. Oleoresins contain both volatile and nonvolatile spice constituents, and they cover the majority flavor profile of the spices and herbs. Moreover, oleoresins are being used in confectionery, beverages, sauces, meat canning, and pharmaceuticals. They are also used as a base for various seasonings.
Oleoresins are a mixture of oil and resin extracted from plants, which are highly concentrated liquid materials in nature. They are also known as balsams because they contain benzoic acid and cinnamic acid. Rosin is a fragile, amber-yellow, difficult, and translucent resin made from oleoresin-derived oil. The application of different oleoresins differs according to their properties. For example, paprika oleoresin is primarily used as a coloring and flavoring agent in mozzarella, sauces, refreshments, confectionery, and prepared foods. Because they add flavor and have high antioxidant activity, black pepper oleoresins are commonly used in health supplements.
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|Market Size 2021||US$1,392 Mn|
|Market Forecast 2030||US$ 2,439 Mn|
|CAGR||6.6% During 2022 – 2030|
|Analysis Period||2018 – 2030|
|Forecast Data||2022 – 2030|
|Segments Covered||By Product, By Application, And By Geography|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Ozone Naturals, PT Indesso Aroma, Kancor Ingredients Ltd., Paprika Oleo’s India Limited, Universal Oleoresins, Synthite Industries Ltd., Akay Group Ltd., Paras Perfumers, Kalsec Inc., Givaudan, Plant Lipids, and Chenguang Biotech Group Co. Ltd.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
|Customization Scope||10 hours of free customization and expert consultation|
Global Oleoresin Market Growth Aspects
Rising demand from the pharmaceutical, healthcare, food, and beverage industries is driving the global oleoresin market. Oleoresins are made from a wide range of additives and spices from around the world. It is usually found in the form of a semi-solid extract. Oleoresins have different properties relying on the spice or herb from which they have been derived. They have a wide range of pharmacological and antioxidant properties and are used in the pharmaceutical, healthcare, food, and beverage industries.
The growing market for packaged junk foods and fast-food products as a result of increasing per capita income and changing consumer preferences is one of the key factors influencing the use of oleoresins in the food and beverage industry. Furthermore, as a result of significant interpopulation growth, there is an increased interest in regional culinary traditions with exotic flavors, which is influencing the use of oleoresins in high-end restaurants and hotels. Furthermore, rising consumer awareness of the significance of health and willingness to spend money on high-quality ingredients is motivating food manufacturers to substitute chemical additives with healthy food ingredients. Aside from that, oleoresins are getting prominence in the pharmaceutical market for the preparation of generic medicines, as well as in the personal grooming industry for the production of skincare products and cream lotions. Besides that, with the growing agricultural sector, where oleoresins are used as natural pigments and flavoring agents in residential feeding livestock, their consumption is expected to grow.
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Black Pepper Oleoresin is Widely Used in the Food and Beverage Industries
Black Pepper Oleoresin is an organic food additive derived from the berries of Piper nigrum L. It is a free-flowing, olive-green fluid with a peppery odor and pungency at room temperature. It is used as a preservative and to flavor meat and fish products. In the food service industry, black pepper oleoresin is widely used as a coloring and flavoring agent. Black pepper oleoresins are more popularly used in traditional medicinal systems such as Siddha, Ayurveda, and Unani. It is used to make pharmaceuticals as well as to treat various diseases and conditions such as heart disease, indigestion, constipation, joint pains, insomnia, and so on.
Oleoresin Market Regional Overview
North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa are the regional classification of the global oleoresin market. In terms of value, The Asia-Pacific region is expected to grow at the fastest rate in the oleoresins market over the next few years. Increased production levels, easy access to raw materials, and the use of new manufacturing technologies can all be attributed to this growth. Asia-Pacific is the world’s largest producer and exporter of spices and herbal products. However, the regional market is driven by the region’s large spice-producing countries, which include India, China, Indonesia, and Malaysia. The product’s stability and compatibility in food, beverage, cosmetics, and pharmaceutical applications are expected to drive demand in the region.
Oleoresin Market Segmentation
The global oleoresin market has been segmented by Acumen Research and Consulting based on product, and application. Based on the product, the market is divided into paprika, capsicum, black pepper, garlic, turmeric, ginger, onion, herbs, seed spice, and others. Based on the application, the market is categorized into food, beverages, nutraceutical, fragrances, pharmaceuticals, and others.
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Oleoresin Market Players
Some key players covered global in the oleoresin industry are Ozone Naturals, PT Indesso Aroma, Kancor Ingredients Ltd., Paprika Oleo’s India Limited, Universal Oleoresins, Synthite Industries Ltd., Akay Group Ltd., Paras Perfumers, Kalsec Inc., Givaudan, Plant Lipids, and Chenguang Biotech Group Co. Ltd.
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