Global Oleoresin Market to Grow at a CAGR of 5.70% During 2024-2032, Aided by the Flourishing Food and Beverages Industry

Oleoresins enhance the flavour of the product while extending its shelf life, due to which it is extensively used in the food and beverages industry. Moreover, a few kilograms of oleoresin can replace 100 kilograms of raw spices, which provides a cheaper and more efficient alternative for spices. Therefore, they require less storage space and contribute to the warehouse economy, consequently invigorating the market growth. Europe holds a significant share of the industry due to the robust growth of the food and beverages industry and the rising popularity of processed food. As the demand for natural flavours and ingredients is escalating due to the rising health consciousness, there is a growing demand for healthier food and beverages and convenience food, which is fuelling the growth of the oleoresin industry. Meanwhile, the Asia Pacific region is expected to dominate the market in the forecast period due to the extensive use of spices in traditional foods, hence contributing to the overall growth of the oleoresin industry.

Some of the leading players in the industry are Synthite Industries Private Limited and Trilogy Essential Ingredients, Inc. The latter offers high-quality natural seasonings and flavouring agents. Moreover, the company is constantly attempting to develop exciting new flavour profiles and interesting flavour tonalities to formulate beverages, enhance the freshness of beverages, and develop a unique taste to it. Hence, it is used in a wide range of applications in the food and beverages industry, such as juice drinks, fruit beverages, protein products, dairy, and bakery products, among others. In addition, the company offers custom flavour development and leads the flavouring industry in prototype and turnkey product development for all types of beverages. Such developments and advancements by the major companies in the market are expected to provide further impetus to the market growth.

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Market Analysis by Product, Application and Region:

• The market, on the basis of product, can be divided into paprika, black pepper, capsicum, turmeric, garlic, and onion, among others.
• Based on application, the industry can be divided into food and beverages and pharmaceuticals, among others.
• The regional markets for oleoresin include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The rising demand for exotic and ethnic food in western countries is increasing the demand for oleoresin, consequently aiding the industry growth.
• The market is being aided by the growing use of oleoresin in the healthcare industry, particularly in the treatment of various skin-related problems.
• The rising demand for spices due to their immunity-boosting properties in various end-use industries due to the growing health concerns in the wake of coronavirus outbreak is augmenting the market growth.
• The surging demand for clean labels and natural ingredients in the food and beverages industry is increasing the demand for oleoresin, further propelling the industry growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global oleoresin market for the periods (2018-2023) and (2024-2032).
• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the products, applications, and regions of oleoresin.
• It assesses the regional price trends for the (2018-2023) and (2024-2032) periods. 
• The market report also analyses the trade data by covering the major importing and exporting countries.
• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global market for oleoresin are Universal Oleoresins, Trilogy Essential Ingredients, Inc., Paprika Oleo's (India) Ltd., S.A.S. Jean GAZIGNAIRE, Indesso, and Synthite Industries Private Limited, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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