Global Oleoresin Market to Reach US$ 2.5 Billion by 2032, Propelled by Rapid Expansion in Food and Beverage (F&B) Industry

December 02, 2022 | Food & Beverages

IMARC Group's latest report, titled "Oleoresin Market Report by Product (Paprika, Black Pepper, Capsicum, Turmeric, Ginger, Garlic, Onion, and Others), Application (Food and Beverages, Flavors, Pharmaceuticals, and Others), and Region 2024-2032," finds that the global oleoresin market size reached US$ 1.5 Billion in 2023. Oleoresins are organic extracts containing a complex mix of resins and fatty oils. They are obtained through solvent extraction and are more shelf-stable than the whole spice. They offer numerous benefits over conventional herbs and spices, such as affordability, heat stability, flavor consistency, prevention of microbial contamination, convenient storage and handling, and long shelf life. As a result, oleoresins are widely used in processed foods, including chutneys, confectionery products, soups, sauces, dressings, cheeses, snacks, processed meat and seafood, baked goods, processed vegetables, and beverages. 

Global Oleoresin Market Trends:

Rapid expansion in the food and beverage (F&B) industry due to rising demand for snacks and fast-food items represents the primary factor driving the market growth. Moreover, food manufacturers are rapidly replacing artificial ingredients with clean-label ingredients due to rising awareness among individuals about maintaining health and increasing consumer willingness to spend on quality products, which is positively influencing market growth. Additionally, the increasing usage of oleoresins in luxury hotels and gourmet restaurants due to the rising popularity of ethnic cuisines with exotic flavors and significant growth in interpopulation is another major growth-inducing factor. Besides this, the surging adoption of oleoresins in the pharmaceutical sector to manufacture medicines and in the personal care industry to produce soaps and body lotions is contributing to the market growth. Furthermore, the increasing use of oleoresins as natural flavoring agents and colorants in animal feed for domestic livestock on account of rapid expansion in the agriculture industry has catalyzed market growth. Other factors, including the escalating demand for convenience food products, inflating consumer disposable incomes, rising number of quick service restaurants (QSRs), and increasing consumption of organic food and beverages, are also propelling the market growth. Looking forward, IMARC Group expects the market value to reach US$ 2.5 Billion by 2032, expanding at a CAGR of 5.5% during 2024-2032.

Market Summary:

  • Based on the product, the market has been divided into paprika, black pepper, capsicum, turmeric, ginger, garlic, onion, and others. 
  • On the basis of the application, the market has been segmented into food and beverages, flavors, pharmaceuticals, and others. 
  • Region-wise, the market has been categorized into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and Middle East and Africa. 
  • The competitive landscape of the market has also been examined, with some of the key players being Akay Natural Ingredients Private Limited, Ambe Phytoextracts Pvt. Ltd., AVT Natural Products Limited, Bioprex Labs, Gurjar Phytochem Pvt. Ltd., Jean GAZIGNAIRE S.A.S., Kalsec Inc., Kancor Ingredients Ltd, Plant Lipids, Synthite Industries Ltd., and Universal Oleoresins.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Product, Application, Region.
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered  Akay Natural Ingredients Private Limited, Ambe Phytoextracts Pvt. Ltd., AVT Natural Products Limited, Bioprex Labs, Gurjar Phytochem Pvt. Ltd., Jean GAZIGNAIRE S.A.S., Kalsec Inc., Kancor Ingredients Ltd, Plant Lipids, Synthite Industries Ltd and Universal Oleoresins
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
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Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Oleoresin Market to Reach US$ 2.5 Billion by 2032, Propelled by Rapid Expansion in Food and Beverage (F&B) Industry
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