New York, United States, Feb. 12, 2024 (GLOBE NEWSWIRE) -- The Global Oleoresin Market Size is to Grow from USD 1.63 Billion in 2023 to USD 3.02 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 6.36% during the projected period.
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Oleoresins are semi-solid extracts consisting of resins and essential or fatty oils that are obtained by evaporating the solvents used in the production process. Turpentine oil and rosin combine to form the conifer oleoresin, often known as gum turpentine or crude turpentine. Parsley, mace, nutmeg, fir balsam, ginger, jambu, labdanum, cardamom, clove bud, celery seed, thyme, pimenta (allspice), rosemary, vanilla, pepper (black/white), savory (summer/winter), sage, turmeric, and West Indian Bay leaves are among the spices used to make oleoresins. It is possible to utilize nonpolar (carbon dioxide, hydrocarbon) or polar (alcohol) nonaqueous solvents. The rapid development of technical advancements that have enhanced the affordability, effectiveness, and environmental friendliness of oleoresin extraction and processing is contributing to the growth of the worldwide oleoresin market. One example of this is the use of supercritical fluid extraction technology, which eliminates the need for solvents during the extraction process. Additionally, the business is rising rapidly because of the exponential growth in migration and international travel, as well as the global surge in the popularity of ethnic foods. However, the availability of spices, which are required year-round to produce oleoresins, is impacted by the season. Businesses must take on the risk of unforeseen losses by stocking up and purchasing throughout the year. The cost of raw materials fluctuates and increases according to a variety of agroclimatic conditions.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on the "Global Oleoresin Market Size, Share, and COVID-19 Impact Analysis, By Product (Black Pepper, Herbs, Ginger, Capsicum, Seed Spices, Cinnamon & Cassia, Paprika, and Others), By Raw Material (Seeds, Roots, Flowers, Berries, Leaves, and Others), By Application (Food & Beverages, Feed, Pharmaceutical & Nutraceutical, Personal Care Products, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The black pepper segment is anticipated to hold the greatest share of the global oleoresin market during the projected timeframe.
Based on the product, the global oleoresin market is divided into black pepper, herbs, ginger, capsicum, seed spices, cinnamon & cassia, paprika, and others. Among these, the black pepper segment is anticipated to hold the greatest share of the global oleoresin market during the projected timeframe. This is because black pepper is frequently used as an ingredient in food products due to its potent flavor and fragrant, spicy qualities. Black pepper oleoresin is typically made by ethanolic extraction with a little addition of dried, crushed black pepper.
The berries segment is anticipated to grow at the fastest pace in the global oleoresin market during the projected timeframe.
Based on the raw material, the global oleoresin market is divided into seeds, roots, flowers, berries, leaves, and others. Among these, the berries segment is anticipated to grow at the fastest pace in the global oleoresin market during the projected timeframe. This is because there is an increasing need for natural tastes, and berries are in great demand as flavoring agents for a broad variety of food and drink items since they naturally exist as sources of vibrant and varied flavors. In addition to the food and beverage business, berries may find use in the personal care and cosmetics industries.
The food & beverages segment is predicted to hold the largest share of the oleoresin market during the estimated period.
Based on the application, the global oleoresin market is divided into food & beverage, healthcare, personal care, and others. Among these, the food & beverage segment is predicted to hold the largest share of the oleoresin market during the estimated period. This is because oleoresins are widely used in a variety of food and beverage products, such as cheese, sauces, spice mixes, processed meat, sweets, and some fruit juices. They are also used as coloring and flavoring in a lot of food preparations.
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Europe is expected to hold the largest share of the global oleoresin market over the forecast period.
Europe is expected to hold the largest share of the global oleoresin market over the forecast period. This is a result of the food and beverage industry's increasing need for coloring agents and taste enhancers. The need for oleoresins in the personal care, fragrance, and beauty care industries, which provide a substantial end-use market, further contributes to the region's robust product demand. Key development factors in this field are expected to be consumer preferences for regional cuisine and the growing use of oleoresins in treatments and applications within the current healthcare system.
Asia Pacific is predicted to grow at the fastest pace in the global oleoresin market during the projected timeframe. The expansion of this region is attributed to both increased output rates and attempts to reduce industrial technologies. Asia Pacific is where the majority of the world's goods are produced and exported. Asia's top producers of spices are China, India, Malaysia, Vietnam, Indonesia, and other countries. The Asia Pacific area produces a significant amount of paprika oleoresins, which leads to price competition.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Oleoresin Market include Indo World Trading Corporation, Givaudan SA, Akay Group Ltd., Plant Lipids, Dupont de Nemours Inc., K.Patel Phyto Extractions Pvt Ltd., Vidya Herbs Pvt Ltd., Kancor Ingredients Ltd., Ozone Naturals, Universal Oleoresins, India Essential Oils, Shaanxi Jiahe Phytochem Co. Ltd., Ungerer Limited, Lionel Hitchen (Essential Oils) Ltd., Cymbio Pharma Pvt Ltd., AVT Naturals, Synthite Industries Ltd., Kalsec Inc., Kuber Impex Ltd., Kancor Ingredients Ltd. and others.
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Recent Developments
- In July 2023, in their Exberry collection, KLK OLEO, GNT unveiled the shade brilliant orange - OS, a revolutionary 100% plant-based, oil-soluble color. The source of this hue is non-GMO paprika. With a variety of uses, this innovative color solution replaces artificial coloring and paprika oleoresin and meets the requirement for clean-label components.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Oleoresin Market based on the below-mentioned segments:
Global Oleoresin Market, By Product
- Black Pepper
- Herbs
- Ginger
- Capsicum
- Seed Spices
- Cinnamon & Cassia
- Paprika
- Others
Global Oleoresin Market, By Raw Material
- Seeds
- Roots
- Flowers
- Berries
- Leaves
- Others
Global Oleoresin Market, By Application
- Food & Beverages
- Feed
- Pharmaceutical & Nutraceutical
- Personal Care Products
- Others
Global Oleoresin Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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