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The global paprika market grew at a CAGR of around 5% during 2015-2020. Paprika is a mild-flavored ground spice used in foods as a color garnish. It is prepared by air-drying sweet peppers and red, green and orange capsicums and is often used with cayenne spice to add a smoky-sweet flavor to the dish. Paprika is commonly available in powder and oil forms and is a rich source of antioxidants, carotenoids, natural lipids and essential vitamins and minerals that aid in the formation of new red blood cells (RBCs). As a result, it is widely used in the manufacturing of food and beverages, including spice blends, rubs, marinades, sauces, stews, pasta and sausages, cosmetics and pharmaceutical products.
Significant growth in the food and beverage industry across the globe is one of the key factors creating a positive outlook for the market. Paprika is widely used as a natural coloring agent to enhance the flavor and to improve the stability of the food products. Furthermore, increasing consumer awareness regarding the health benefits of paprika is also driving the market growth. Paprika exhibits various anti-aging, anti-inflammatory, anti-depression and antioxidant properties, which aid in reducing pain, anxiety, inflammation, blood sugar levels and arthritis and assists in improving good cholesterol levels, vision and blood cell count. It is also rich in capsaicinoids that are used for improving cardiovascular and gastrointestinal health. Additionally, the launch of natural paprika powder, which is produced using organic ingredients, is favoring the market growth. Other factors, including rising expenditure capacities of the consumers, along with the increasing demand for specialty foods, are anticipated to drive the market growth. Looking forward, IMARC Group expects the global paprika market to exhibit moderate growth during the next five years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global paprika market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, product and application.
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The competitive landscape of the industry has also been examined along with the profiles of the key players being Chr. Hansen Holding A/S, Evesa, Frutarom Industries Ltd. (International Flavors & Fragrances Inc.), Kancor Ingredients Limited, Naturex, Plant Lipids, Synthite Industries Ltd., Ungerer & Company (Givaudan SA) and Unilever Food Solutions.
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