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.
