Categories: Market Research

Global Oleoresin Market Size and Forecast 2024-2033| AVT Natural Products Ltd., Ozone Naturals, Akay Natural Ingredients Private Limited, Kalsec Inc., Paprika Oleo’s India Limited

The Oleoresin by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Oleoresin, The oleoresin market size has grown strongly in recent years. It will grow from $1.53 billion in 2023 to $1.63 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to growth in the food and beverage industry:, preference for natural ingredients, increased use in seasonings and spices, pharmaceutical industry demand, expansion of the cosmetic industry.

The oleoresin market size is expected to see strong growth in the next few years. It will grow to $2.05 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to expanding applications in nutraceuticals, development of novel oleoresin varieties, rising popularity of plant-based products, demand for ethnic and exotic flavors, expansion of aromatherapy market.. Major trends in the forecast period include technological integration in agriculture, biotechnological advancements, technological advances in extraction methods, flavor innovation in the beverage industry, clean label movement

The rise in demand for fast food is expected to propel the growth of the oleoresin market going forward. Due to hectic lifestyles, and less time for food preparation people’s inclination towards the consumption of fast food rises which will increase demand for fast food. Oleoresin is the main ingredient that helps in providing flouring agents and food colorants for fast food products. The rise in demand for fast food will create the demand for oleoresin which will boost the growth of the market. For instance, in 2022, according to Avika, a Netherlands-based potato processing company, the UK fast food market has grown 9% from US$20.6 billion (£18.9 billion) in 2021 to US$22.45 billion (£20.61 billion) in 2022. Therefore, the rise in demand for fast food is driving the growth of the oleoresin market.

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The oleoresin market covered in this report is segmented –

1) By Product: Paprika, Black Pepper, Capsicum, Turmeric, Ginger, Garlic, Onion, Seed Spice, Herbs, Other Products

2) By Raw Material: Leaves, Seeds, Flowers, Roots, Berries, Other Raw Materials

3) By Extraction Process: Solvent Extraction, Supercritical Fluid Extraction, Other Processes

4) By Application: Food, Beverages, Fragrances, Pharmaceutical, Nutraceutical, Other Applications

Product innovations are a key trend gaining popularity in the oleoresins market. Major companies operating in the oleoresins market are adopting new production techniques to manufacture oleoresins and sustain their position in the market. For instance, in May 2022, Algalif, an Iceland-based high-grade natural astaxanthin manufacturer, along with Divi’s Nutraceuticals, a US-based carotenoids manufacturer, developed highly concentrated beadlets of sustainable natural astaxanthin oleoresin from microalgae. This newly developed astaxanthin oleoresin is developed using renewable energy and has a scope of application in fortified drinks, nutrition bars, gummies, tablets, and Twizzlers. The newly developed AstaBeadTM beadlets show excellent performance in application in the food and beverage industry due to their ease of handling characteristics.

The oleoresin market report table of contents includes:

1. Executive Summary

2. Oleoresin Market Characteristics

3. Oleoresin Market Trends And Strategies

4. Oleoresin Market – Macro Economic Scenario

5. Global Oleoresin Market Size and Growth

26. South America Oleoresin Market

27. Brazil Oleoresin Market

28. Middle East Oleoresin Market

29. Africa Oleoresin Market

30. Oleoresin Market Competitive Landscape And Company Profiles

Top Major Players: