Oleoresins Market Scope, Size, Share, Growth, Sales, Market Penetration, Business Strategy and Forecast 2018 to 2023

Market Overview:

The global market for oleoresins has been encountering continued growth for quite some time now. The main reason for this could be identified as the increasing demand for ready to eat meals amongst the general population. The utilization of oleoresins in the food and personal care sector has increased dramatically. The market is all set to progress at the CAGR of around 4% during the projection span. On the other hand, the revenue returns are also expected to multiply by the end of the forecast period.

The principal reason behind the development of this market is its usage as a crucial flavoring and coloring agent in the food and beverages sector. Furthermore, this compound is also being employed by various pharmaceutical industries and its market is emanating in bakeries and confectioneries as well. Apart from that, this compound is also being utilized for the formulation of new fragrances in the beauty & skincare division. All of these factors cumulatively contribute towards the growth and development of the market.

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Industry News:

April 24, 2018 – The latest good news for this market has come in from Asia Pacific. Recently, it was reported that India’s spices export business observed an increase of 20% in terms of volume. And its success has been attributed to the fact that they supply superior quality oleoresins across the world.

February 6, 2018 – In India, the central government body recently declared that light pepper will be exempted from the Minimum Import Price. As light pepper has been recognized as one of the major sources of oleoresins, this development is expected to garner many positive results for the market.

Market Key Players Analysis:

The global market for oleoresins is quite a competitive space. The stakeholders have to work hard to maintain their lead and fight off competition as there are many who invest in this field. Some of the most noteworthy players of this field can be distinguished as Kancor Ingredients Limited, Silverline Chemicals Ltd, Plant Lipids, Agnes Herbs, Adani Pharmachem Private Limited and Ozone Naturals.

All of these brands have a proactive approach towards their work and they keep up with the ongoing industry trends to secure the maximum profit for their business. Apart from that they also tend to undertake certain growth strategies like strategic partnerships, alliances with other companies and investments in research and development activities.

Market Segmentation:

The worldwide market for oleoresins has several segments. The research report distributed by Market Research Future provides a detailed analysis of all of these. Mentioned below is a small glimpse of it:

By raw material – Berries, Leaves, Roots, Seeds and Flowers.

By application – Coloring Agent, Food and Beverages, Pharmaceutical and Flavoring. Amongst the mentioned segments, flavoring holds the lead and accounts for the largest share of the market. Its success can be attributed to facts like shifting customer preferences and their ability to cure certain cardiovascular and gastrointestinal diseases. They account for around 35% of the market share.

By product – Ginger, black pepper, marigold, paprika, onion, turmeric, marigold, capsicum, tomato and garlic. Out of these, the paprika and capsicum oleoresins are in great demand and hence they secure the largest number of the market’s share.

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Regional Analysis:

The oleoresins market has very efficiently proven its worth across various verticals of the world. Some of the major regions where its presence can be predominantly observed are Asia Pacific, North America, Europe and Rest of the World.

The research report by Market Research Future suggests that amongst the above-mentioned areas the one that assimilated the highest number of market shares over the years was Asia Pacific. The rising need for health and nutritient rich food products, higher demand for natural flavoring and coloring agents, higher annual income index and increased awareness regarding the health advantages of oleoresins are the major factors that contribute towards the progression of this market. Developing countries like China and India are expected to be at the forefront and carve a path of success for the market. The next in line after Asia Pacific is Europe.

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This release was published on openPR.