Newark, May 09, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 162.3 million paprika oleoresin market will reach USD 356.9 million by 2033. With customers prioritising healthier and more functional food choices, paprika oleoresin—rich in important carotenoids like beta-carotene and capsanthin—has become more popular. It is also known for its antioxidant capabilities. Its potential extends beyond the food industry to non-food uses such as pet feeds, cosmetics, and pharmaceuticals, creating market expansion and diversification opportunities. Industry participants are investigating new markets and promoting paprika oleoresin as an economical and natural food colouring in the food and beverage industries to take advantage of this market opportunity.
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Research and technology expenditures help to enhance extraction procedures and boost production effectiveness, which lowers total production costs and increases the availability of paprika oleoresin to a wider range of consumers. Since paprika oleoresins have anti-inflammatory, analgesic, antioxidant, and anti-cancer properties, they are also used in pharmaceutical applications. They help lower the body's levels of free radicals. In addition, the plant's dried berry product increases appetite and relieves dyspepsia, diarrhoea, and nausea. The medication inhibits the nervous system and helps to reduce fever and pain because of its anti-inflammatory and insecticidal qualities.
Asia Pacific to account for the largest market size during the forecast period.
Asia Pacific plays a significant role in processing paprika oleoresins and manufacturing spices. With 31,646 shipments, China and India are the two biggest participants in the market. The market has expanded in South Korea, Japan, and other Asian countries. China was the market leader, producing over 9,000 tonnes and providing a sizable supply to the European region.
The flavours segment dominated the market with the most significant revenue of USD 69.7 million.
The flavours segment dominated the market with the most significant revenue of USD 69.7 million. It offers a range of altered flavours, from mildly sweet to quite spicy. Paprika flavours, which come in smoky, sweet, and spicy forms, please consumer tastes and contribute to the expanding market for paprika oleoresins. To add flavour and aroma to food items, flavours are added to condiments, salad dressings, and seasonings.
The food & beverage segment dominated the market with the most significant revenue of USD 64.9 million.
The food and beverage segment dominated the market, with the most significant revenue of USD 64.9 million. Paprika oleoresin adds a vibrant red colour to various culinary products, such as sauces, soups, snacks, and processed meats, increasing consumers' visual appeal and acceptance. It also adds a unique flavour and aroma to prepared dishes, salad dressings, sauces, and seasonings, enhancing the sensory experience. Food manufacturers favour paprika oleoresin because of its stability, cost, and ease of incorporation into different food recipes.
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Market Dynamics:
Drivers: Growing need for natural food additives
Clean-label and natural food additives are becoming increasingly necessary as customers become more conscious of what they put into their bodies. Paprika oleoresin, a natural spice extract used as a colouring and flavouring in many food products, looks to benefit from this trend.
Restraint: Regulatory restrictions
Laws governing food colouring, flavouring, and additives may change, impacting the paprika oleoresin market. Strict laws or bans on particular substances may also affect the food industry's need for and use of paprika oleoresin.
Opportunity: Technological developments in extraction methods
Improvements in extraction techniques that boost output and product quality could affect the paprika oleoresins industry. Using cutting-edge extraction methods can boost the oleoresin's potency and output.
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Some of the major players operating in the paprika oleoresin market are:
● Kalsec Inc.
● Plant Lipids
● DDW Color
● AVT Natural Products Ltd
● Paprika Oleo’s
● Ambe Group
● Cymbio Pharma Pvt Ltd
● Synthite Industries Ltd.
● Ungerer & Company
● Akay Group Ltd.
● Universal Oleoresins
● Indo World
● Paras Perfumers
● Asian Oleoresin Company
Key Segments cover in the market:
By Type:
● Spices
● Oleoresins
● Flavours
By Application:
● Food & Beverage
● Pharmaceuticals
● Others
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About the report:
The global paprika oleoresin market is analyzed based on value (USD million). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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