Press release
Booming Oleoresin Market: A Glimpse of Projected Growth, Key Drivers, and Future Trends
The global oleoresin market is projected to witness robust growth defying the pandemic effect and marching ahead with the pull from thriving industries and evolving customer preferences.
What Is The Projected Market Size Of The Global Oleoresin Market And Its Growth Rate?
• The oleoresin market size was $1.63 billion in 2024 and is predicted to reach $1.73 billion in 2025, growing at a CAGR of 6.1%.
• This healthy growth rate in the historic period was primarily driven by the dynamic food and beverage industry, emphasis on natural ingredients, increasing utilization in seasonings and spices, pharmaceutical industry demand, and the expansion of the cosmetic industry.
• Projected to attain $2.17 billion by 2029, the market will grow robustly at a CAGR of 5.9% in the forecast period. Several factors underpin this robust growth including the rising popularity of plant-based products, demand for ethnic and exotic flavors, expansion of the aromatherapy market, and expanding applications in the nutraceuticals sector.
What Is Driving The Growth In The Oleoresin Market?
The augmentation in the fast food market is a significant catalyst accelerating the growth of the oleoresin market. People's preference for fast food is spiking owing to their hectic lifestyles and the demand for quick meal solutions. Oleoresin, known for its flavoring and food coloring properties, is integral to fast food products. For instance, Avika, a Netherlands-based potato processing company, reported that the UK fast food market experienced a 9% increase from US$20.6 billion (£18.9 billion) in 2021 to US$22.45 billion (£20.61 billion) in 2022. This fast food market's boom will subsequently create a ripple effect, giving a fillip to the oleoresin market.
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Who Are The Key Players Driving Oleoresin Market Growth?
Prominent companies playing a pivotal role in shaping the oleoresin market include:
• 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
What Are The Key Trends In The Oleoresin Market?
Key trends steering the oleoresin market:
• Technological integration in agriculture
• Biotechnological advancements
• Technological advances in extraction methods
• Flavor innovation in the beverage industry
• Clean label movement
What Are The Segments Of The Global Oleoresin Market?
The global oleoresin market segments include:
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
Which Region Leads The Oleoresin Market?
Europe emerged as the forerunner in the oleoresin market in 2024 and Asia-Pacific is expected to emerge as the fastest-growing region in the forecast period. The other regions encompassed in the oleoresin market report include Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Oleoresin Market Global Market Report?
- Market Size Analysis: Analyze the Oleoresin Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Oleoresin Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Oleoresin Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Oleoresin Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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