Demand for Oleoresin Market to Incur Considerable Upsurge During the Forecast Period

The global oleoresin market size is expected to reach USD 1.99 billion by 2025 registering a CAGR of 4.7%, as per a new report by Grand View Research Inc. Growing demand for flavors & fragrances used in food & beverages and for natural personal care products created using numerous aroma compounds and essential oils are expected to foster market growth. Rapidly expanding food & beverages industry is also contributing to the market growth.

New product launches, growing number of retail stores, economic prices of convenient food and personal care products are expected to be highly influential factors for market growth. Increasing usage of flavors in the pharmaceutical, dietary supplements, and nutraceutical products is also projected to augment the demand. Major manufacturers have strategically established their facilities in close proximity to regions with high production of spices to maintain a consistent supply of raw materials. For instance, India is the largest producer and exporter of a wide variety of spices and their derivatives as well as culinary herbs.

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Further key findings from the study suggest:

·       China is one of the major producers of paprika and is expected to harvest higher quantities in the coming years due to an increase in the cultivation area of paprika in Xinjiang province

·       Retail stores have competitive advantage in terms of proximity to end consumers along with loyal customer base

·       Increasing consumption of processed food & beverages due to busy lifestyles will drive the demand for flavors & fragrances

·       Moreover, increasing disposable income in developing economies is projected to augment the demand for fragrances used in cosmetics, toiletries, perfumes, and soaps & detergents

·       Stringent federal regulations regarding farming and cultivation as well as environmental impact of these operations have restricted excess farming activities and decreased the supply of crops for the production of essential oils, which is likely to restrain the oleoresin market growth over the forecast period

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

Oleoresin Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

·         Paprika

·         Black Pepper

·         Capsicum

·         Turmeric

·         Ginger

·         Garlic

·         Onion

·         Others

Oleoresin Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

·         Food & Beverages

·         Flavors

·         Pharmaceuticals

·         Others

Oleoresin Regional Outlook (Volume, Kilotons; 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.

For More Information: www.grandviewresearch.com