Oleoresins Market Overview:
As per the analysis by Market Research Future (MRFR), the global Oleoresins Market is expected to grow at a CAGR of 6.04% and to reach 2.27 billion by 2030.
The growing incidents of gastrointestinal diseases are likely to push the global Oleoresins Market Insights 2020. The propelled demand for high-quality fragrances and flavor are expected to develop the market in the coming period. In addition, the increased awareness regarding side-effects of synthetic flavors and health benefits offered by herbal extracts are anticipated to drive the market considerably. The growing consumption of baked food, processed meat, and confectionery are estimated to boost the demand for oleoresin as a food flavoring agent, thereby, enhancing the market size.
On the contrary, the fluctuation in price and availability and maintaining stocks of raw materials are likely to hinder the market growth during the forecast period. However, the increasing demand for processed food, along with factors mentioned above are likely to counter the impeding factor and strengthen the market.
Market Segmentation:
The segment analysis of the global oleoresins market is done by raw material, application, and product.
The raw material based segments of the global oleoresins market are leaves, seeds, flowers, roots, berries and others.
The application-based segments of the global oleoresins market are food and beverages, pharmaceutical, flavoring & coloring agent and others.
The product-based segments of the global oleoresins market are paprika, black pepper, capsicum, tomato, turmeric, marigold, onion, garlic, ginger and others.
Regional Analysis:
The global Oleoresins Market Outlook is segregated into Europe, North America, Asia-Pacific, and the Rest of the World (RoW). As per the analysis, Europe acquires the largest market share in the global oleoresins market. The growing inclination for natural ingredients and herbal extracts used in various food products are estimated to be one of the most significant factors driving the regional market. Several industries such as perfumery, pharmaceutical, personal care & cosmetics are predicted to play a notable role in growing the regional market. Countries such as Austria, the U.K, Belgium, Germany, and Spain are expected to play a significant role in strengthening the regional market.
North America is estimated to be the second largest market owing to high product demand from various industries. End-use industries such as cosmetics, food & beverage, and cosmetics are predicted to play important role in strengthening the market. The regional market is predicted to rise owing to the increasing inclination towards the usage of natural ingredients and the growing awareness among the consumers. Further, the increased usage of oleoresins in pharmaceuticals is another factor aiding in the regional market expansion.
The APAC region is likely to make a significant contribution in developing the global market due to the increasing preference of natural ingredients. The developing countries such as India and China are likely to play a notable role in strengthening the regional market. Further, the increasing disposable income along with the rising population are other significant factors driving the oleoresins market in the region.
The MEA region is expected to acquire the least market share due to to the presence of low economies. However, the growing awareness in the region is estimated to counter the impeding factor and develop the regional market.
Key Players:
Oleoresin Company (India), Jean Gazignaire SA (France), Agnes Herbs (India), Kancor Ingredients Limited (India), Adani Pharmachem Private Limited (India), Shijiazhuang City Biotechnology co., ltd (China), Ozone Naturals (India), Qingdao Ruibang Biotechnology Co., Ltd (China) Plant Lipids (India) Silverline Chemicals Ltd (India), are in the global Key Oleoresins Market Players.
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