Oleoresins Market Size, Share, Forecast, & Trends Analysis by Source (Spices, Capsicum, Marigold, Garlic), Extraction Process (Solvent Extraction), Application (Food and Beverages, Pharmaceuticals)

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Oleoresins Market Size, Share, Forecast, & Trends Analysis by Source (Spices {Paprika, Black Pepper, Turmeric}, Capsicum, Marigold, Garlic), Extraction Process (Solvent Extraction), Application (Food and Beverages, Pharmaceuticals)-Global Forecast to 2031

According to a new market research report titled, 'Oleoresins Market Size, Share, Forecast, & Trends Analysis by Source (Spices {Paprika, Black Pepper, Turmeric}, Capsicum, Marigold, Garlic), Extraction Process (Solvent Extraction), Application (Food and Beverages, Pharmaceuticals)-Global Forecast to 2031,' published by Meticulous Research(R), the oleoresins market is projected to reach $2.49 billion by 2031, at a CAGR of 4.9% from 2024 to 2031. The report provides an in-depth analysis of the oleoresins market across five major geographies, current market trends, size, and recent developments, and the forecast for 2031.

Succeeding extensive secondary and primary research and an in-depth analysis of the market scenario, the report conducts the impact analysis of the key industry drivers, restraints, opportunities, challenges, and trends. The growth of the oleoresins market is primarily driven by the increasing demand for oleoresins in the food & beverages and pharmaceutical industries, the growing demand for natural colors and flavors, and the increasing adoption of ethnic food. However, fluctuations in raw material prices and the high number of substitutes available in the market restrain the growth of this market to some extent.

Furthermore, the growing demand for natural and organic food products, increasing demand for vegan beauty products, and increasing utilization of oleoresins in animal feed are expected to generate significant growth opportunities for the stakeholders in this market. On the other hand, the high production costs and the stringent regulations are the major challenges impacting the growth of the oleoresins market.

Moreover, the increasing adoption of clean-label products and the increasing need for self-grooming products are major trends in the oleoresins market.

Key Players

The key players operating in the oleoresins market are Synthite Industries Ltd. (India), Kalsec Inc. (U.S.), Symrise AG (Germany), Universal Oleoresins (India), Ozone Naturals (India), Givaudan SA (Switzerland), Akay Natural Ingredients Private Limited. (A Subsidiary of Oterra A/S) (India), Mane Kancor Ingredients Private Limited (India), Paprika Oleos [India] Ltd (India), Plant Lipids Private Limited (India), AVT Natural Products Limited (India), Henry Lamotte Oils GmbH (Germany), Vidya Herbs Pvt Ltd. (India), Extractos Vegetales S.A. (EVESA) (Spain), and Ruther Gewurze GmbH (Germany).

Based on source, the oleoresins market is segmented into spices, capsicum, marigold, garlic, onion, herbs, and other sources. In 2024, the spices segment is expected to account for the largest share of 44.6% of the oleoresins market. The large market share of this segment can be attributed to factors such as increasing usage of the spice's oleoresins in various industries, including food & beverage, pharmaceuticals, animal feed and cosmetics industry as a flavoring and coloring agent, health supplements, and formulation in drugs. Spice oleoresins, such as paprika oleoresin, are mostly used as a source of color in canned meats, sausages, smoked pork, sandwich spreads, soups, cheeses, orange juice, spice mixtures, sauces, and other food products. Moreover, this segment is also slated to register the highest growth rate of 5.7% during the forecast period due to the increasing demand for natural ingredients, the adoption of ethnic food, and various health benefits that further support the growth of the market.

Based on extraction process, the oleoresins market is segmented into solvent extraction, supercritical fluid extraction, and other extraction processes. In 2024, the solvent extraction segment is expected to account for the largest share of 71.2% of the oleoresins market. The large market share of this segment can be attributed to factors such as cost-effective processes, established industry practice, suitable for large scale production, and mostly used for various industrial applications.

However, the supercritical fluid extraction segment is projected to witness the highest growth rate of 5.3% during the forecast period of 2024-2031. This growth is driven by the adoption of advanced extraction technology, which produces high-quality oleoresins with minimal solvent residues and high yields. Supercritical fluid extraction uses carbon dioxide under high pressure to extract oleoresins. It also retains flavor and medicinal properties by excluding chemical contaminations, which further fuels the market's growth.

Based on application, the oleoresins market is segmented into food and beverages, cosmetics and personal care, pharmaceuticals and nutraceuticals, animal feeds, and other applications. In 2024, the food and beverages segment is expected to account for the largest share of 36.1% of the oleoresins market. The large market share of this segment can be attributed to the increasing adoption of natural or organic ingredients in different food products, increasing awareness regarding the benefits associated with the use of oleoresins in food and beverages products, increasing usages for enhancing flavor, color, and aroma in a wide range of food products, and increasing use in many food and drinks such as spice mixtures, sauces, cheese, processed meats products, sweets, and various fruits drinks.

However, the pharmaceuticals and nutraceuticals segment is projected to witness the highest growth rate during the forecast period of 2024-2031. This growth is driven by its potential health benefits and its medicinal properties. Oleoresins have high anti-inflammatory and strong antioxidant properties and are therefore used in painkillers, anti-inflammatories, and dietary supplements. Furthermore, the rising demand for natural remedies and health-focused products is supporting the growth of the market.

Based on geography, the oleoresins market is majorly segmented into five regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Europe is expected to account for the largest share of 34.5% of the oleoresins market, followed by North America and Asia-Pacific. Europe's significant market share can be attributed to several key factors, including the growing awareness regarding health and wellness, growing demand for natural ingredients in food products for coloring and flavoring, stringent regulation and food safety in the region, and shifting consumer preferences towards ethnic cuisine. Moreover, the growing consumer preferences for vegan cosmetics and personal care products and rising spending on health and wellness products further support the growth of the region.

However, the Asia-Pacific region is slated to register the highest CAGR during the forecast period. The growth of this regional market is attributed to factors such as rising disposal income, changing lifestyles, rapid urbanization, increasing spending on premium food products, growing consumption of healthy food & Ingredients, and rising awareness regarding the side effects of synthetic ingredients. Moreover, the growing cultivation of various spices and herbs and the increasing presence of various manufacturers in the region are supporting the growth of the market.

Key Questions Answered in the Report-

What is the value of revenue generated by the sale of oleoresins?
At what rate is the global demand for oleoresins projected to grow for the next 5-7 years?
What is the historical market size and growth rate for the oleoresins market?
What are the major factors impacting the growth of this market at global and regional levels?
What are the major opportunities for existing players and new entrants in the market?
Which product source, extraction process, and application segments create major traction for the manufacturers in this market?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the oleoresins market?
Who are the major players in the oleoresins market? What are their specific product offerings in this market?
What recent developments have taken place in the oleoresins market? What impact have these strategic developments created on the market?

Scope of the Report:

Oleoresins Market Assessment-by Source

Spices
Paprika
Black Pepper
Turmeric
Seed Spice
Other Spices
Capsicum
Marigold
Garlic
Onion
Herbs
Other Sources

Oleoresins Market Assessment-by Extraction Process

Solvent Extraction
Supercritical Fluid Extraction
Other Extraction Processes

Oleoresins Market Assessment-by Application

Food and Beverages
Cosmetics and Personal Care
Pharmaceuticals and Nutraceuticals
Animal Feeds
Other Applications

Oleoresins Market Assessment-by Geography

North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Belgium
- Netherlands
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Indonesia
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America (RoLATAM)
Middle East & Africa

Product Code: MRFB - 1041226

1. Introduction

1.1. Market Definition & Scope
1.2. Market Ecosystem
1.3. Currency
1.4. Key Stakeholders

2. Research Methodology

2.1. Research Approach
2.2. Process of Data Collection and Validation
- 2.2.1. Secondary Research
- 2.2.2. Primary Research/Interviews with Key Opinion Leaders of the Industry
2.3. Market Sizing and Forecast
- 2.3.1. Market Size Estimation Approach
- 2.3.2. Growth Forecast Approach
2.4. Assumptions for the Study

3. Executive Summary

3.1. Overview
3.2. Segmental Analysis
- 3.2.1. Oleoresins Market Analysis: by Source
- 3.2.2. Oleoresins Market Analysis: by Extraction Process
- 3.2.3. Oleoresins Market Analysis: by Application
3.3. Oleoresins Market, by Regional Analysis
3.4. Competitive Landscape & Market Competitors

4. Market Insights

4.1. Overview
4.2. Factors Affecting Market Growth
- 4.2.1. Drivers
  - 4.2.1.1. Increasing Demand for Oleoresins in Food & Beverages Industry
  - 4.2.1.2. Growing Demand in Pharmaceutical Industry
  - 4.2.1.3. Growing Demand for Natural Colors and Flavors
  - 4.2.1.4. Increasing Adoption of Ethnic Food
- 4.2.2. Restraints
  - 4.2.2.1. Fluctuations in Raw Material Prices
  - 4.2.2.2. High Number of Substitutes Available in the Market
- 4.2.3. Opportunities
  - 4.2.3.1. Growing Demand for Natural and Organic Food Products
  - 4.2.3.2. Increasing Demand for Vegan Beauty Products
  - 4.2.3.3. Increasing Utilization of Oleoresins in Animal Feed
- 4.2.4. Challenges
  - 4.2.4.1. High Production Costs
  - 4.2.4.2. Stringent Regulations
4.3. Trend
- 4.3.1. Increasing Adoption of Clean-label Products
- 4.3.2. Increasing Need for Self-grooming Products
4.4. Porters Five Forces Analysis
- 4.4.1. Bargaining Power of Suppliers
- 4.4.2. Bargaining Power of Buyers
- 4.4.3. Threat of Substitutes
- 4.4.4. Threat of New Entrants
- 4.4.5. Degree of Competition
4.5. Pricing Analysis

5. Oleoresins Market Assessment-by Source

5.1. Overview
5.2. Spices
- 5.2.1. Paprika
- 5.2.2. Black Pepper
- 5.2.3. Turmeric
- 5.2.4. Seed Spice
- 5.2.5. Other Spices
5.3. Capsicum
5.4. Marigold
5.5. Garlic
5.6. Onion
5.7. Herbs
5.8. Other Sources

6. Oleoresins Market Assessment-by Extraction Process

6.1. Overview
6.2. Solvent Extraction
6.3. Supercritical Fluid Extraction
6.4. Other Extraction Processes

7. Oleoresins Market Assessment-by Application

7.1. Overview
7.2. Food and Beverages
7.3. Cosmetics and Personal Care
7.4. Pharmaceuticals and Nutraceuticals
7.5. Animal Feeds
7.6. Other Applications

8. Oleoresins Market Assessment-by Geography

8.1. Overview
8.2. North America
- 8.2.1. U.S.
- 8.2.2. Canada
8.3. Europe
- 8.3.1. U.K.
- 8.3.2. Germany
- 8.3.3. France
- 8.3.4. Italy
- 8.3.5. Spain
- 8.3.6. Russia
- 8.3.7. Belgium
- 8.3.8. Netherlands
- 8.3.9. Rest of Europe
8.4. Asia Pacific
- 8.4.1. China
- 8.4.2. India
- 8.4.3. Japan
- 8.4.4. Australia
- 8.4.5. South Korea
- 8.4.6. Indonesia
- 8.4.7. Rest of Asia-Pacific
8.5. Latin America
- 8.5.1. Brazil
- 8.5.2. Mexico
- 8.5.3. Argentina
- 8.5.4. Rest of Latin America
8.6. Middle East & Africa

9. Competition Analysis

9.1. Overview
9.2. Key Growth Strategies
9.3. Competitive Benchmarking
9.4. Competitive Dashboard
- 9.4.1. Industry Leaders
- 9.4.2. Market Differentiators
- 9.4.3. Vanguards
- 9.4.4. Emerging Companies
9.5. Market Ranking/Positioning Analysis of Key Players, 2023

10. Company Profiles (Company Overview, Financial Overview, Product Portfolio, and Strategic Developments)

10.1. Synthite Industries Ltd.
10.2. Kalsec Inc.
10.3. Symrise AG
10.4. Universal Oleoresins
10.5. Ozone Naturals
10.6. Givaudan SA
10.7. Akay Natural Ingredients Private Limited. (A Subsidiary of Oterra A/S)
10.8. Mane Kancor Ingredients Private Limited
10.9. Paprika Oleos [India] Ltd
10.10. Plant Lipids Private Limited
10.11. AVT Natural Products Limited
10.12. Henry Lamotte Oils GmbH
10.13. Vidya Herbs Pvt Ltd.
10.14. Extractos Vegetales S.A. (EVESA)
10.15. Ruther Gewurze GmbH

(Note: SWOT analysis of the top 5 companies will be provided.)

11. Appendix

11.1. Available Customization
11.2. Related Reports