Oleoresin Market Report 2024 (Global Edition)

Global Oleoresin Market Report 2024 Market Size Split by Product (Paprika, Black Pepper, Capsicum, Turmeric, Ginger Garlic, Onion, Seed Spice, Herbs, Others), by Application (Food & Beverage, Fragran...

Oleoresin Market Report Description

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Competitive Landscape of the Oleoresin Market

Key players deploy strategic initiatives such as product innovations, partnerships, and mergers. Companies prioritize R&D to introduce cutting-edge reagents, ensuring a competitive edge. Major companies have consolidated their market dominance by increasing their level of integration across the whole value chain.

Recent Developments in the Oleoresin Market

• To expand its range of products, Givaudan, a maker of natural and organic oils, purchased Ungerer & Company, a well-known producer of oleoresins. The manufacturing and distribution of natural extracts and essential oils are part of the company's business portfolio.

Source- https://www.givaudan.com/media/media-releases/2020/givaudan-completes-acquisition-ungerer 
 

Top Companies Market Share in Oleoresin Industry: (In no particular order of Rank)

• Universal Oleoresins
• Ungerer & Company
• Akay
• Synthite
• AVT Natural Products Limited (AVT NPL)
• Indo World
• Paprika Oleos
• Paras Perfumers
• Manohar Botanical Extracts Pvt. Ltd.
• Ambe Group
• Gurjar Phytochem Pvt. Ltd.
• Naturite Agro Products Ltd.
• MRT Organic Green Products
• Nature Plus Herbal Cosmetics
• Cymbio Pharma Pvt. Ltd.
• All Season Herbs Pvt. Ltd.
• Asian Oleoresin Company
• Bioprex Labs
• TMV Group
• Plant Lipids
• Ozone Naturals
• Hawkins Watts
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Which region held the largest market share in the Oleoresins market?

The market was dominated by Europe in 2023. This high share can be attributed to the expansion of the market in this area as well as the rising need for colorants and flavorings from the food and beverage sector. In the food and beverage industry, paprika oleoresin is widely used as a coloring and flavoring additive and has a comparatively larger market share than other products. It is anticipated that European importers will choose alternative sources due to the growing competition for herbs and spices used for oleoresin extraction.

Asia Pacific is a prominent participant in the production of spices and the processing of oleoresins. India, China, Vietnam, and Indonesia are among the region's leading producers of spices. The industry participants in this area continually strive to improve their manufacturing capabilities and increase their market share. India in particular has been a significant supplier of oleoresins to the European and American markets. Notably, Indian-made paprika oleoresins are preferred over Chinese-made ones because of their remarkable durability in a range of light and temperature circumstances. 

The current report Scope analyzes Oleoresin Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

Oleoresin Market Analysis

Which Product Segment held the largest market share in 2023?

In 2023, the market was dominated by the black pepper oleoresin segment. This can be attributed to the fact that black pepper is frequently used in food products because of its strong flavor and aromatic, spicy characteristics. Usually, ethanolic extraction is used to create black pepper oleoresin, along with a small amount of dried crushed black pepper. Over the course of the forecast period, rising demand for the product due to its antibacterial and antioxidant qualities is anticipated to have a favorable impact on the market as a whole.

Since paprika oleoresins are increasingly being used as coloring and flavoring agents in the food and beverage industry, the paprika category also maintains a sizable market share. Excellent anti-aging, anti-inflammatory, antioxidant, and anti-depressant qualities can be found in paprika. Additionally, it helps treat cancer. On the other hand, extracts from spices and herbs can be used to treat nausea, arthritis, and diarrhea. Paprika is made up of non-volatile resinous components that carry the flavor of spices and volatile essential oils. It can be utilized as a possible replacement for whole-ground spices in food formulation without affecting the flavor.

In the personal care industry, turmeric oleoresin is frequently used as a treatment, particularly for skin-related issues. Typically, turmeric is used to cure skin conditions including eczema and acne, to prevent and treat dry skin, and to slow down the aging process. Turmeric oleoresins are a major source of curcumin, which is utilized in cream formulation. Turmeric leaf oil and extract can also be utilized in biopesticides and sunscreens. Turmeric's potent medicinal qualities have increased its use in the cosmetics sector, where it is expected to significantly support the market's expansion.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Oleoresin Industry. Request a Free Sample PDF!

How is the Application Segment performing in the Oleoresins Market?

In 2023, the market was dominated by the food application segment. The reason for this high percentage is the widespread use of oleoresins in the food business, particularly in the creation of marinades, meat preparations, gourmet meals, and convenience food items. It gives food items the taste and aroma of herbs and spices. The oleoresins of paprika and turmeric also add color. Moreover, the substance is utilized to flavor cold beverages. Due to their uniform flavor and scent, they have quickly taken the place of ground spices. They are affordable, don't harbor bacteria, take up less storage space, and have an extended shelf life.

Oleoresins can also be found in a wide variety of foods and beverages, including cheese, sauces, processed meat, spice blends, desserts, and some fruit juices. In many food preparations, it is utilized as a coloring agent and seasoning in addition to its flavor and aroma. The product is used in a variety of dishes and beverages, such as cheese, orange juice, sauces, cheese blends, emulsified processed meats, and desserts. It gives food items a particular color and texture. It's a flavoring ingredient, particularly in fast food. It's also used to give cold beverages flavor. Due to its excellent stability, it can be used to cook and fry food at high temperatures.

Drinks can be made more flavorful through the addition of oleoresins. The product becomes an ideal component of the complex flavor profile because it is soluble in water and blends well with other liquids. It is a component in fruit juices, tea, carbonated drinks, flavored milk, and more. The product's uniformity reduces potential losses throughout the manufacturing process and makes it better suited for beverage batch production. Furthermore, the market offers beverages the option to add natural color, which improves their utility for the sector. This will probably drive product demand for beverage applications.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Oleoresin Raw Material Segment Analysis

Based on raw materials, the oleoresins market has been divided into segments for flowers, berries, seeds, leaves, and other products. Of these, berries dominate the market because the dried berry plant increases appetite and relieves pain and fever owing to its anti-inflammatory and insecticidal qualities.

• Flowers
• Berries
• Seeds
• Leaves
• Others

Author's Detail

Manoj Phagare

Senior Research Analyst at Cognitive Market Research

LinkedIn

Profile

• Worked on several market, industry & business research projects, on various models such as Syndicated, Custom, Subscriptions and Consults
• Proficient in secondary research and familiar with all paid research databases
• Proficient in primary research and handling client queries through mails and calls
• Expertise in statistical techniques used in data forecasting, possess strong grip on all aspects of market engineering & data analysis
• Expertise in checking feasibility of projects based on Request for Proposal (RFPs) of clients
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• Gained team-work skills in coordinating with the sales teams for business development and meeting needs of a variety of clients hand-in-hand with promoting sales.

Author's Conclusion