Insights Into The Oleoresin Market’s Growth Opportunities Through 2023-2032 – Includes Oleoresin Market Size
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The increase in fast food demand is likely to promote innovation in oleoresin manufacturing, propelling the market during the forecast period.
The global oleoresin market is expected to grow from $1.45 billion in 2022 to $1.55 billion in 2023 at a compound annual growth rate (CAGR) of 7%. The global oleoresin market size is expected to reach $1.96 billion in 2027 at a CAGR of 6.1%.
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Global Oleoresin Market Segments Include:
- By Type: By Product: Paprika, Black Pepper, Capsicum, Turmeric, Ginger, Garlic, Onion, Seed Spice, Herbs, Other Products
- By Raw Material: Leaves, Seeds, Flowers, Roots, Berries, Other Raw Materials
- By Extraction Process: Solvent Extraction, Supercritical Fluid Extraction, Other Processes
- By Application: Food, Beverages, Fragrances, Pharmaceutical, Nutraceutical, Other Applications
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Europe is the largest region in the global oleoresin market in 2021.
Major Market Players in the oleoresin market include AVT Natural Products Ltd, Ozone Naturals, Akay Natural Ingredients Private Limited, Kalsec Inc., Paprika Oleo’s India Limited, Universal Oleoresins Private Limited, Plant Lipids Private Limited.
Product innovations are a prevalent trend in the oleoresins sector. Major players in the oleoresins market are developing innovative manufacturing procedures in order to maintain their market position. In May 2022, Algalif, an Iceland-based high-grade natural astaxanthin manufacturer, collaborated with Divi’s Nutraceuticals, a carotenoids manufacturer in the United States, to generate highly concentrated beadlets of sustainable natural astaxanthin oleoresin from microalgae. This newly created astaxanthin oleoresin is made with renewable energy and has a wide range of applications, including fortified drinks, nutrition bars, candies, tablets, and Twizzlers. Because of their simplicity of handling, the newly developed AstaBeadTM beadlets work admirably in applications in the food and beverage industries.
The Oleoresin Global Market Report 2023 provides a oleoresin market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The oleoresin market forecast analyzes oleoresin market size, oleoresin market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Oleoresin is a natural oil and resin mixture derived from plants such as spices, herbs, and trees. These are employed in the creation of fragrances, cosmetics, and pharmaceuticals as flouring agents and food colourants.
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