How Has The Oleoresin Market Size Evolved In Recent Years?
The oleoresin market has seen considerable growth due to a variety of factors.
• The oleoresin industry has experienced robust expansion in the past few years. The market value, which is predicted to increase from $1.63 billion in 2024 to $1.73 billion in 2025, is expected to have an annual compound growth rate (CAGR) of 6.1%. The past growth in this sector is linked to the development of the food and beverage sector, the rising preference for natural elements, enhanced usage in the condiments and spices market, demand from the pharmaceutical industry, and the cosmetics industry's expansion.
What Does Future Hold for The Oleoresin Market?
The Oleoresin market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the oleoresin market is anticipated to witness considerable growth, escalating to $2.17 billion in 2029, with a compound annual growth rate (CAGR) of 5.9%.
This expected growth in the forecast period can be traced back to burgeoning uses in nutraceuticals, emergence of new forms of oleoresin, rising trend of plant-derived products, demand for ethnic and unique flavors, and growth of the aromatherapy market. Key trends in the predicted period encompass integration of technology in agriculture, advancements in biotechnology, progress in extraction techniques, flavor novelties in the beverage industry, and the movement towards clean labels.
What Are The Primary Growth Drivers In The Oleoresin Market?
The oleoresin market is projected to grow, driven by increasing fast food demand. This surge is attributed to people's busy lifestyles and limited time for meal preparation, which heightens their preference for fast food. Oleoresin, a crucial ingredient that provides flavoring agents and colorants in fast food products, is set to benefit from this trend. The growing demand for fast food generates the need for oleoresin, thereby stimulating the market's expansion. For example, in 2022, Avika, a Netherlands-based potato processing firm, noted that the UK fast food market grew 9% from US$20.6 billion (£18.9 billion) in 2021 to US$22.45 billion (£20.61 billion) in 2022. Consequently, the rising demand for fast food is fueling the oleoresin market's growth.
What Is The Segmentation Of The Global Oleoresin Market?
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
Subsegments:
1) By Paprika: Sweet Paprika, Smoked Paprika, Hot Paprika
2) By Black Pepper: Whole Black Pepper, Ground Black Pepper, Black Pepper Extracts
3) By Capsicum: Bell Pepper Oleoresin, Chili Oleoresin
4) By Turmeric: Curcumin Extract, Whole Turmeric Oleoresin
5) By Ginger: Fresh Ginger Oleoresin, Dried Ginger Oleoresin
6) By Garlic: Fresh Garlic Oleoresin, Dehydrated Garlic Oleoresin
7) By Onion: Fresh Onion Oleoresin, Dehydrated Onion Oleoresin
8) By Seed Spice: Coriander Oleoresin, Cumin Oleoresin, Fennel Oleoresin
9) By Herbs: Basil Oleoresin, Oregano Oleoresin, Thyme Oleoresin
10) By Other Products: Cardamom Oleoresin, Clove Oleoresin, Nutmeg Oleoresin
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What Emerging Trends Are Shaping The Oleoresin Market Landscape?
Leading the trend in the oleoresins market are innovative products. In order to remain competitive in the industry, many major businesses are turning to novel production techniques. For example, in May 2022, Algalif, a high-grade natural astaxanthin manufacturer based in Iceland, collaborated with Divi’s Nutraceuticals, a US-based carotenoids manufacturer. Together, they created highly concentrated beadlets of sustainable natural astaxanthin oleoresin derived from microalgae. This cutting-edge astaxanthin oleoresin, developed through the use of renewable energy, is perfect for uses in fortified beverages, nutritional bars, gummies, tablets, and Twizzlers. The innovative AstaBead beadlets provide optimal result in the food and beverage sector due to their superior manageability.
Who Are the Key Players In The Oleoresin Market?
Major companies operating in the oleoresin market include:
• AVT Natural Products Ltd
• Ozone Naturals
• Akay Natural Ingredients Private Limited
• Kalsec Inc.
• Paprika Oleo's India Limited
• Universal Oleoresins Private Limited
• Plant Lipids Private Limited
• Kancor Ingredients Ltd.
• Synthite Industries Ltd.
• All-Season Herbs Private Limited
• Chenguang Biotech Group Co. Ltd.
• TMV Aromatics Pvt Ltd
• PT Indesso Aroma
• Jean Gazignaire S.A.S.
• Givaudan SA
• Ungerer & Company
• Bioingredia Natural Pvt Ltd.
• Sensient Technologies Corporation
• Vidya Herbs Pvt. Ltd.
• Döhler GmbH
• Naturex SA
• Algatechnologies Ltd
• Cargill Inc.
• Mitsubishi Chemical Holdings Corporation
• Symrise AG
• Greenleaf Extractions Pvt. Ltd.
• Young Living Essential Oils Ltd.
• Middle Earth Organics
• Ransom Naturals Ltd.
What Are The Regional Insights Into The Oleoresin Market?
Europe was the largest region in the oleoresin market in 2024. 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
