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Global Oleoresin Market to Grow at a CAGR of 5% During 2021-2026, Aided by the Flourishing Food and Beverages Industry

According to a new report by EMR titled, ‘Global Oleoresin Market Report and Forecast 2021-2026’, the market attained a value of about USD 1.3 billion in 2020. The industry is further expected to grow at a CAGR of 5% in the forecast period of 2021-2026 to reach a value of about USD 1.7 billion by 2026.

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 AVT Natural Products Limited (NSE: AVTNPL) 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.

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, flavours, 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 (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the products, applications, and regions of oleoresin.
  • It assesses the regional price trends for the (2016-2020) and (2021-2026) 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., Jean Gazignaire S.A.S., and PT. Indesso Aroma, 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.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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