Paprika Market to Grow at CAGR of 5.3% from 2019 to 2025

Paprika Market Size, Share & Trends Analysis Report By Application (Cosmetics, Food, Pharmaceuticals), By Type (Paprika Oleoresin, Vegetable Paprika), By Region (Europe, APAC, North America), And Segment Forecasts, 2019 - 2025

The global paprika market size is expected to reach USD 619.5 million by 2025 expanding at an estimated CAGR of 5.3% over the forecast period, according to a new report by Grand View Research, Inc. Rising awareness regarding the health benefits of paprika is expected to drive the market. The oleoresin segment led the global industry and constituted over 36% of the total market share in 2018. Some of the leading companies, such as Ungerer & Company, Synthite, Chr. Hansen Holding A/S, and Unilever Food Solutions, offer a wide range of paprika. Other prominent market players include Ingredientes Naturales Seleccionados, EVESA and Kancor Ingredients Limited. Rising demand for colorants coupled with natural spices has propelled the demand for paprika across the world.

Paprika are used in F&B applications, such as cheese, orange juice, spice mixtures, sauces, seasoning material in fast food, emulsified process meats, and sweets. They help in providing a specific color texture to food products. Paprika oleoresins are extensively used as natural flavoring in meat products, cheese, popcorn oil, and cheese food coatings. Paprika also find wide applications in pharmaceuticals sector. They help reduce pain, anxiety, and stress when used in proper concentrations. Paprika also have inherent properties, such as analgesic, anti-inflammatory, and anti-obesity properties and can also be used in anti-cancer treatments.

Access Research Report of Paprika Market@ https://www.grandviewresearch.com/industry-analysis/paprika-market

Further key findings from the study suggest:

·       The spice powder product segment is projected to reach 109.4 million by 2025 registering a strong CAGR from 2019 to 2025

·       Among applications, the food segment led the overall market revenues with a share of 46.7% in 2018

·       Brazil paprika market is expected to witness a strong growth over the forecast period on account of increasing demand for spice oils from the food industry

·       Rising consumer awareness about the health benefits of paprika is expected to drive the market further

·       The market is extremely competitive. The key companies include Synthite Industries Ltd., Chr. Hansen Holding A/S, Ungerer & Company Unilever Food Solutions, and Plant Lipids

·       Most of the aforementioned companies have undertaken initiatives, such as acquisitions, frequent mergers, strategic alliances, and capital expansion to gain higher market share

Grand View Research has segmented the global paprika market on the basis of type, application, and region:

Paprika Type Outlook (Revenue, USD Million, 2014 - 2025)

·         Vegetable Paprika

·         Spice Powder

·         Paprika Oleoresin

·         Others

Paprika Application Outlook (Revenue, USD Million, 2014 - 2025)

·         Food

·         Pharmaceuticals

·         Cosmetics

Paprika Regional Outlook (Revenue, USD Million, 2014 - 2025)

·         North America

·         Europe

·         Asia Pacific

·         Central & South America

·         Middle East & Africa

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.