Oleoresin Market Estimated To Grow Rapidly Owing To Robust Food Additive Demand Growth Till 2025: Grand View Research Inc.

The global oleoresin market size is expected to reach USD 1.99 billion by 2025 registering a CAGR of 4.7%, as per a new report by Grand View Research Inc. Growing demand for flavors & fragrances used in food & beverages and for natural personal care products created using numerous aroma compounds and essential oils are expected to foster market growth. Rapidly expanding food & beverages industry is also contributing to the market growth.

New product launches, growing number of retail stores, economic prices of convenient food and personal care products are expected to be highly influential factors for market growth. Increasing usage of flavors in the pharmaceutical, dietary supplements, and nutraceutical products is also projected to augment the demand. Major manufacturers have strategically established their facilities in close proximity to regions with high production of spices to maintain a consistent supply of raw materials. For instance, India is the largest producer and exporter of a wide variety of spices and their derivatives as well as culinary herbs.

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Further key findings from the study suggest:

• China is one of the major producers of paprika and is expected to harvest higher quantities in the coming years due to an increase in the cultivation area of paprika in Xinjiang province

• Retail stores have competitive advantage in terms of proximity to end consumers along with loyal customer base

• Increasing consumption of processed food & beverages due to busy lifestyles will drive the demand for flavors & fragrances

• Moreover, increasing disposable income in developing economies is projected to augment the demand for fragrances used in cosmetics, toiletries, perfumes, and soaps & detergents

• Stringent federal regulations regarding farming and cultivation as well as environmental impact of these operations have restricted excess farming activities and decreased the supply of crops for the production of essential oils, which is likely to restrain the oleoresin market growth over the forecast period

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Grand View Research has segmented the global oleoresin market on the basis of product, application, and region:

Oleoresin Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

• Paprika

• Black Pepper

• Capsicum

• Turmeric

• Ginger

• Garlic

• Onion

• Others

Oleoresin Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

• Food & Beverages

• Flavors

• Pharmaceuticals

• Others

Oleoresin Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • U.K.

  • France

  • Spain

  • Belgium

  • Austria

• Asia Pacific

  • China

  • India

  • Japan

  • Vietnam

  • Indonesia

  • Sri Lanka

  • Oceania

• Central & South America

  • Brazil

• Middle East & Africa

• South Africa

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 126 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 4126 analysts and consultants, the company adds 121200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 600 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.