New York, NY, Aug. 02, 2019 (GLOBE NEWSWIRE) — Zion Market Research has published a new report titled “Oleoresins Market By Product (Paprika, Black Pepper, Capsicum, Turmeric, Ginger, Onion, and Others) and By Application (Food and Beverage, Flavors, Pharmaceuticals, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2026”. According to the report, the global oleoresins market was approximately USD 1.22 billion in 2018 and is expected to generate around USD 1.94 billion by 2026, at a CAGR of around 6.01% between 2019 and 2026.
Oleoresins are used as an alternative for ground spices, as they possess standardized aroma and taste. They can be changed according to the specific flavor requirement of different products. They also have a long shelf life, which makes them lesser prone to any kind of bacterial infection. Oleoresins are not used as much as ground spices, but they play a vital role to enhance the fragrance and flavor of food. The oleoresins market is driven by its extensive use in the food and beverage sector, as it’s a popular additive, and the growing product demand in the pharmaceutical industry, as it is used in many drugs nowadays. However, the oleoresins market may be limited due to the increase in the prices of various raw materials, which, in turn, leads to an increase in the production costs. The oleoresins market globally is expected to grow notably in the future, due to the superior properties of oleoresins like long shelf live and flexibility of changing aroma and taste.
Browse through 23 Tables & 28 Figures spread over 110 Pages and in-depth TOC on “Global Oleoresins Market: By Product Type, Industry Size, Share, Applications, Growth, Analysis and Forecast, 2018–2026”.
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On the basis of product, the oleoresins market is divided into the onion, black pepper, paprika, capsicum, ginger, turmeric, and others. The paprika segment is expected to contribute the maximum market share in terms of revenue over the estimated timeframe, owing to the increasing use of paprika, as it is used primarily for coloring and add-on flavors in many food products like juices, cheeses, and processed meat. Its extensive use in the food and beverages industry will further drive this segment of the oleoresins market in the future.
By application, the oleoresins market is divided into pharmaceuticals, flavors, food and beverage, and others. The food and beverage segment is expected to hold a major market share in the years ahead. Oleoresins are used in this industry as coloring and flavoring agents along with being used in salad dressings, frying, and baking food items.
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By region, Europe is estimated to contribute the maximum revenue share to the global oleoresins market over the projected time period. This can be attributed to the increasing consumption of ethnic foods, which primarily contain oleoresins, in the countries of Hungary, Germany, Romania, and the UK. Oleoresins are used as coloring and flavoring agents along with being used in salad dressings, frying, and baking food items, which is expected to further drive the European oleoresins market in the future.
North America will hold a major market share in global oleoresins market over the forthcoming years, owing to the rising demand for aromatic spices with a long shelf life. The U.S. and Canada are expected to be the major countries that are likely to contribute majorly to the growth of the North American oleoresins market.
Browse the full “Oleoresins Market By Product (Paprika, Black Pepper, Capsicum, Turmeric, Ginger, Onion, and Others) and By Application (Food and Beverage, Flavors, Pharmaceuticals, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2026” Report at https://www.zionmarketresearch.com/report/oleoresins-market
The Asia Pacific region is expected to witness moderate growth in the market for oleoresins globally in the years to come. This regional growth can be attributed to the growing oleoresins demand from the food and beverage sector, particularly in India. This is the major growth driver for the Asia Pacific oleoresins market.
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Some key participants operating in the global oleoresins market are AVT Naturals Products, Adani Pharmachem, Bhoomi Natural Products, Kancor Ingredients, Ozone Naturals, Paprika Oleo’s India, Plant Lipids, Synthite Ingredients, and Universal Oleoresins.
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This report segments the global oleoresins market into:
Global Oleoresins Market: By Product
- Black pepper
Global Oleoresins Market: By Application
- Food and Beverage
Global Oleoresins Market: By Region
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa
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