Press release
Global Oleoresins Market to Exhibit 9% CAGR between 2014 and 2020
Oleoresins Market
Oleoresins are the flavor extracts obtained from spices by extraction with a non-aqueous solvent followed by removal of the solvent by evaporation. Oleoresins are concentrated natural liquid flavoring that contain both volatile and non-volatile flavor ingredients. Oleoresins are mostly preferred because of their microbiological advantages, uniformity in flavor and aroma, ease of storage and transport. Oleoresins are extracted by solvent extraction process, Supercritical fluid extraction process, or steam distillation process. Oleoresins can replace the original ground spice with a standardized aroma and taste that can be modified as per the requirement of the product.
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Different product segments of the oleoresins market include black pepper, paprika, capsicum, tomato, marigold, turmeric and others. Some key product types, black pepper, paprika, capsicum constitutes the largest market share in 2014. Tomato oleoresin is another leading segment and expected to grow at significant growth rate owing to its rising application in beverages, processed food and soups. Turmeric oleoresins are widely used in pharmaceutical application segment owing to its crucial role in relieving pain, depression and stress.
Key application segments of the global oleoresins include food & beverage, pharmaceutical, flavoring & coloring agent and others. In 2014, the food & beverage segment dominated the global oleoresins market. Growth in the food & beverage segment is driven by an increase application of paprika and black pepper oleoresins in dairy, beverages and confectionery segments. Flavoring & coloring is another leading application segment and expected to experience rapid pace growth over forecast period. Pharmaceutical segment is expected to exhibit moderate growth in the years to come.
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Asia Pacific was the leading regional market for oleoresins owing to strong demand from India. Asia Pacific was followed by Europe with the second largest market share in global oleoresins in 2014. Asia Pacific is expected to grow at a rapid pace owing to strong demand from India and China. North America, Latin America and Middle East & Africa are expected to witness significant growth in the years to come.
Some of the key participants in the global oleoresins market Adani Pharmachem Private Limited, Kancor Ingredients Limited, Plant Lipids, Givaudan, Ozone Naturals, Universal Oleoresins, Asian Oleoresin Company, Bhoomi Natural Products and Exports Pvt. Ltd., Synthite Industries Ltd., Ungerer & Company and Paprika Oleo's India Limited.
This report segments the global oleoresins market as follows:
Global Oleoresins Market: Product Segment Analysis
Black Pepper
Paprika
Capsicum
Tomato
Marigold
Turmeric
Others
Global Oleoresins Market: Application Segment Analysis
Food & Beverage
Pharmaceutical
Flavoring & Coloring Agent
Others
Global Oleoresins Market: Regional Segment Analysis
North America
U.S.
Europe
Germany
France
UK
Asia Pacific
China
Japan
India
Latin America
Brazil
Middle East and Africa
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