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Oleoresin Market: Comprehensive Industry Analysis, Evolving Trends, Market Size, And Growth Opportunities
Oleoresin Market
As per the report, the oleoresin market size has grown strongly in recent years. It will grow from $1.53 billion in 2023 to $1.63 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The oleoresin market size is expected to see strong growth in the next few years. It will grow to $2.05 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%.
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Surge In Fast Food Demand Fuels Oleoresin Market Growth
The rise in demand for fast food is expected to propel the growth of the oleoresin market going forward. Due to hectic lifestyles, and less time for food preparation people's inclination towards the consumption of fast food rises which will increase demand for fast food. Oleoresin is the main ingredient that helps in providing flouring agents and food colorants for fast food products. The rise in demand for fast food will create the demand for oleoresin which will boost the growth of the market. For instance, in 2022, according to Avika, a Netherlands-based potato processing company, the UK fast food market has grown 9% from US$20.6 billion (£18.9 billion) in 2021 to US$22.45 billion (£20.61 billion) in 2022. Therefore, the rise in demand for fast food is driving the growth of the oleoresin market.
Innovative Trends Shaping The Oleoresins Market
Product innovations are a key trend gaining popularity in the oleoresins market. Major companies operating in the oleoresins market are adopting new production techniques to manufacture oleoresins and sustain their position in the market. For instance, in May 2022, Algalif, an Iceland-based high-grade natural astaxanthin manufacturer, along with Divi's Nutraceuticals, a US-based carotenoids manufacturer, developed highly concentrated beadlets of sustainable natural astaxanthin oleoresin from microalgae. This newly developed astaxanthin oleoresin is developed using renewable energy and has a scope of application in fortified drinks, nutrition bars, tablets, and Twizzlers. The newly developed AstaBeadTM beadlets show excellent performance in application in the food and beverage industry due to their ease of handling characteristics.
The oleoresin market covered in this report is segmented -
1) By Product: Paprika, Black Pepper, Capsicum, Turmeric, Ginger, Garlic, Onion, Seed Spice, Herbs, Other Products
2) By Raw Material: Leaves, Seeds, Flowers, Roots, Berries, Other Raw Materials
3) By Extraction Process: Solvent Extraction, Supercritical Fluid Extraction, Other Processes
4) By Application: Food, Beverages, Fragrances, Pharmaceutical, Nutraceutical, Other Applications
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Major companies operating in the oleoresin market report are 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, Kancor Ingredients Ltd., Synthite Industries Ltd., All-Season Herbs Private Limited, Chenguang Biotech Group Co. Ltd., TMV Aromatics Pvt Ltd, PT Indesso Aroma, Jean Gazignaire S.A.S., Givaudan SA, Ungerer & Company, Bioingredia Natural Pvt Ltd., Sensient Technologies Corporation, Vidya Herbs Pvt. Ltd., Döhler GmbH, Naturex SA, Algatechnologies Ltd, Cargill Inc., Mitsubishi Chemical Holdings Corporation, Symrise AG, Greenleaf Extractions Pvt. Ltd., Reckitt Benckiser Group plc, Young Living Essential Oils Ltd., Middle Earth Organics, Ransom Naturals Ltd. .
Contents of the report:
1. Executive Summary
2. Oleoresin Market Report Structure
3. Oleoresin Market Trends And Strategies
4. Oleoresin Market - Macro Economic Scenario
5. Oleoresin Market Size And Growth
…..
27. Oleoresin Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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