The rising trend of using natural flavors in processed food and an increasing number of QSRs have led to a surge in demand for oleoresins. The rise in awareness regarding the side-effects of synthetic flavors and health benefits offered by phytomedicines and herbal extracts have significantly driven the growth of the market. Further, due to the increasing R&D activities in the market and the rising popularity of health supplements, the demand for oleoresins in the nutraceutical industry remains high. The growing trend of offering clean label personal care products is also projected to drive the growth of the oleoresins market.
The food & beverages segment is projected to account for the largest share in the oleoresins market. This is attributed to the increasing use of oleoresins that provide a natural flavor and fragrance in confectioneries and beverages. Further, growing awareness among consumers about the benefits of consuming products rich in natural ingredients such as oleoresins has contributed to the growth of the market. In addition, the use of oleoresins in the pharmaceutical industry remains high due to the growing awareness of the side-effects of allopathic medicines, increasing instances of antibiotic allergies among people, rising vegan population, and busy lifestyles of consumers are projected to drive the growth of the pharmaceuticals & nutraceuticals segment during the forecast period.
The paprika segment accounted for the largest market size in the oleoresins market during the forecast period. The demand for paprika is increasing significantly as an important seasoning and flavoring ingredient, which is used in American cuisines.
North America is projected to account for the largest market share during the forecast period. This is attributed to the high consumption of processed food in this region, which inadvertently leads to increasing demand for oleoresins. The use of traditional treatments and medicines, which are derived from plants, continue to persist in Asian countries. Due to the increasing instances of diseases caused by chemical-based and synthetic products, the market has gained momentum at a commercial level in the last 10 to 15 years, globally.
Key players in this market include Akay Group (India), Synthite Industries Pvt. Ltd. (India), AVT Naturals (India), Givaudan (Switzerland), PT Indesso Aroma (Indonesia), Vidya Herbs Private Limited (India), Ungerer & Company (US), Kancor Ingredients Ltd. (India), Plant Lipids (India), Kalsec Inc.(US), Gazignaire (France), and Universal Oleoresins (India).
Key Questions Addressed by the Report
· What are the growth opportunities in the oleoresins market?
· What are the major sources of oleoresins?
· What are the key factors affecting market dynamics?
· What are some of the major challenges and restraints that the industry faces?
· Which are the key players operating in the market and what initiatives have they undertaken over the past few years?
1.1. Market Definition
1.2. Study Scope
1.3. Study Period
1.4. Market Stakeholders
2. Research Methodology
2.1. Secondary Research
2.2. Primary Research
2.3. Research Design
2.4. Data Validation
2.5. Limitations and Assumptions
3. Market Dynamics
3.1.1. Growth in Demand From the Food Industry
18.104.22.168. Rise in the Trend of Using Natural Flavors in Food Processing
22.214.171.124. Burgeoning Demand for Processed Food
3.1.2. Increase in the Presence of Modern Retail Outlets
3.1.3. Growth in Awareness About Health Benefits Offered By Oleoresins
3.2.1. Availability and Maintaining Stocks of Raw Materials and Price Fluctuations
3.2.2. High Initial Investment Costs Prevent New Entrants From Entering the Market
3.2.3. Lack of Awareness and Ability to Distinguish Between Natural and Adulterated Products
3.3.1. Increase in Demand for Feed Phytogenics
4. Executive Summary
5. Oleoresins Market, By Source
5.3. Seed Spices
5.7. Cinnamon & Cassia
6. Oleoresins Market, By Application
6.1. Food & Beverages
6.2. Pharmaceuticals & Nutraceuticals
6.3. Personal Care Products
7. Oleoresins Market, By Extraction Process
7.1. Solvent Extraction
7.2. Supercritical Fluid Extraction Process
8. Oleoresins Market, By Region
8.1. North America
8.2.7. Rest of Europe
8.3. Asia Pacific
8.3.5. Rest of Asia Pacific
8.4. Rest of the World
8.4.1. South America
8.4.2. Middle East & Africa
9. Company Profiles
9.1. Akay Group Ltd.
9.2. Synthite Industries Private Ltd.
9.3. AVT Natural
9.5. Pt. Indesso Aroma
9.6. Vidya Herbs Private Limited
9.7. Ungerer & Company
9.8. Kancor Ingredients Limited
9.9. Plant Lipids
9.10. Kalsec Inc.
9.12. Universal Oleoresins
10. Conclusion and Recommendations
11.2. Related Reports