Oleoresin Market : Technology Advancements, Industry Insights, Trends And Forecast 2033

Overview and Scope
Oleoresin is a natural mixture of oil and resin extracted from various plant sources such as spices, herbs, and trees. These are used as flouring agents, and food colorants in the production of perfumes, cosmetics, and pharmaceuticals.

Sizing and Forecast
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..

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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

Europe was the largest region in the oleoresin market in 2023. Asia-Pacific is expected to be the fastest-growing region in the oleoresin market report during the forecast period. The regions covered in the oleoresin market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
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.

Key Industry Players
Major companies operating in the oleoresin market are launching oleoresin products to meet the consumer demand. For instance, in March 2021, Lycored, a US-based provider of natural carotenoids for food, launched an oleoresin. Derived from Haematococcus pluvialis algae, the oleoresin product is specifically formulated for soft gel usage. These innovative products underscore the company’s dedication to ensuring quality and introducing an effective delivery system, catering to the increasing demand for vegetarian and vegan options. The distinctive feature of the oleoresin lies in its origin from Haematococcus pluvialis algae, its compatibility with soft gels, and the company’s focus on delivering high-quality solutions aligned with the rising preference for vegetarian and vegan products.

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
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31. Global Oleoresin Market Competitive Benchmarking

32. Global Oleoresin Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Oleoresin Market

34. Oleoresin Market Future Outlook and Potential Analysis

35. Appendix

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