North America to Dominate Oleoresins Market until 2025

Rising consumption of processed food to drive the growth of global oleoresins market

According to TechSci Research report, “Global Oleoresins Market By Source (Paprika, Capsicum, Seed spices, Turmeric, Herbs, Ginger, Cinnamon & cassia, Others), By Application (Food & Beverages, Pharmaceutical & Nutraceutical, Personal Care Products, Feed), By Extraction Process (Solvent Extraction, Supercritical Fluid Extraction Process), By Region, Forecast & Opportunities, 2025”, global oleoresins market is expected to witness significant CAGR during the forecast period. Rapid growth in number of Quick Service Restaurants (QSRs) is one of the major factors accounting for the growth of global oleoresins market. Moreover, increasing awareness pertaining to the side-effects of using synthetic flavors in food items is expected to bode well for the growth of global oleoresins market through the forecast period. In addition to this, health benefits offered by phytomedicines and herbal extracts, is anticipated to positively influence the growth of global oleoresins market in the years to come. Also, high demand for oleoresins in the nutraceutical industry are making headway for the growth of global oleoresins market. Along with this, upsurge in research and development activities in the market are anticipated to positively supplement the market growth during the next five years. However, there are some factors such as stringent regulatory and approval norms that might act as major impediments to the growth of global oleoresins market through 2025.

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Global oleoresins market can be segmented based on source, application, extraction process, company, and region. Considering the application, the market is fragmented into food & beverages, pharmaceutical & nutraceutical, personal care products and feed. The food & beverages segment dominated the global oleoresins market in terms of largest market share until 2019 and is further anticipated to maintain its dominance during the forecast years as well, which can be accredited to the fact that oleoresins are widely used in confectioneries and beverages to provide a natural flavor and fragrance. Moreover, rising awareness among consumers regarding the advantages of consuming products which are rich in natural ingredients like oleoresins, is further anticipated to boost the growth of segment until 2025. Another important factor contributing to the increased product demand is its lipophilicity property, because of which, food manufacturers can formulate a variety of food products. Along with that, the formulators are focusing more towards offering halal and kosher certified oleoresins with customized specifications coupled with variety of compound content. In terms of extraction process, the market is categorized into solvent extraction and supercritical fluid extraction process. Out of these, the solvent extraction segment is forecast to grow at a robust CAGR in the years to come, owing to low production cost compared to the alternative production methods.

Akay Group Ltd., Synthite Industries Private Ltd., AVT Naturals, Givaudan, Pt. Indesso Aroma, Vidya Herbs Private Limited, Ungerer & Company, Kancor Ingredients Limited, Plant Lipids, Kalsec Inc., Gazignaire, Universal Oleoresins are among others are the leading players operating in global oleoresins market. The leading players are adopting several growth strategies to enhance the market scenario of oleoresins. Other competitive strategies include product launches; mergers & acquisitions; agreements, partnerships, and collaborations; and expansions to diverse their product portfolio in order to strengthen their market position.

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“North America is forecast to dominate the global oleoresins market during the next five years on account of high consumption of processed food in this region. Furthermore, growing cases of diseases resulting from consumption of chemical-based and synthetic products is also contributing to the growing trend. Additionally, rising expenditure on plant-derived nutritional & health products by the key market players is further anticipated to boost the market growth in the region over the coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Oleoresins Market By Source (Paprika, Capsicum, Seed spices, Turmeric, Herbs, Ginger, Cinnamon & cassia, Others), By Application (Food & Beverages, Pharmaceutical & Nutraceutical, Personal Care Products, Feed), By Extraction Process (Solvent Extraction, Supercritical Fluid Extraction Process), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of global oleoresins market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global oleoresins market.

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