Global Oleoresin Market Growth Analysis - Forecast Trends and Outlook (2024-2032)

Global Oleoresin Market Size

The global oleoresin market reached approximately USD 1.89 billion in 2023. The market is projected to grow at a CAGR of 5.70% between 2024 and 2032, reaching a value of around USD 2.62 billion by 2032.

Oleoresin Market Outlook

• There is a rising demand for natural flavouring agents such as oleoresin due to the rise in health-consciousness.

• Advances in extraction technologies, such as supercritical fluid extraction (SFE), are enabling the production of high-quality oleoresins.

• Consumers and companies are increasingly focusing on sustainability and ethical sourcing practices in the oleoresins market.

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Oleoresin Market Growth Rate

Oleoresins are highly concentrated substances in liquid form which are extracted from various vegetables, plants, seeds, nuts, and spices, among others. It is a natural or artificial amalgamation of essential oils and resins, which are used as both natural flavouring and colouring agents. Oleoresins can induce authentic texture, colour, aroma, and taste of spices and are extensively used in processed foods.

Increasing consumer awareness and health consciousness are augmenting the oleoresin market growth. The growing health concerns among the masses in the wake of COVID-19 and the rising demand for products like health supplements, immunity boosters, and other health-related medicines are boosting the market for oleoresin. In addition, the rising demand for clean-label products and the rising use of phytomedicines and herbal extracts containing oleoresin due to their various health benefits and immunity-boosting properties are providing further impetus to the market growth. As oleoresin can not only enhance the flavour but also increase the shelf life of a product, it is increasingly preferred to manufacture sauces, mayonnaise, and pickles, among others, which is consequently boosting the product demand.

Key Trends and Developments

The increasing trend of inculcating natural flavours; usage in the healthcare sector; ethical and sustainable sourcing; and innovation in extraction technologies are the major trends impacting the oleoresin market expansion

March 18th, 2024

CAMPCO announced that it is set to launch sterilised black pepper sachets in markets across India in April.

September 15th, 2023

Indesso, a leading supplier of oleoresins in the flavour and fragrance, pharmaceutical, and food and beverage sectors launched the iSensoAroma B2B e-commerce platform.

May 4th, 2023

GNT announced the development of an oil-soluble paprika formulation suitable for use in snack seasonings, bakery products, plant-based meats, and cheeses.

February 23rd, 2023

Trilogy Essential Ingredients, a key provider of oleoresin, announced that it is set to change its name to Trilogy Flavors.

Increasing trend of inculcating natural flavours

The trend of incorporating natural flavours in various processed foods due to rising awareness of the ill effects of synthetic flavours is aiding the market growth.

Usage in the healthcare sector

The surging use of oleoresin in the healthcare sector to treat various skin-related diseases is expected to aid the market growth in the forecast period.

Ethical and sustainable sourcing

Companies are focusing on transparent supply chains, sustainable farming practices, and fair-trade certifications to meet consumer expectations and ensure the long-term availability of raw materials.

Innovation in extraction technologies

Advances in extraction technologies, such as supercritical fluid extraction (SFE) and ultrasonic extraction, are enabling the production of high-quality oleoresins with enhanced properties.

Oleoresin Market Trends

The increasing use of oleoresins in the healthcare sector for treating various skin-related diseases is anticipated to contribute to the growth of the market in the upcoming years. Oleoresins, which are concentrated extracts from spices and herbs, possess therapeutic properties such as anti-inflammatory, antimicrobial, and antioxidant effects and these properties make them effective in treating a range of skin conditions, including acne, eczema, psoriasis, and wound healing. Consumers and healthcare practitioners are increasingly seeking natural and safe alternatives to synthetic medications for skin treatments and oleoresins, being natural extracts, are perceived as safer options with fewer side effects.

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Oleoresin Industry Segmentation

“Oleoresin Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Product

• Paprika

• Black Pepper

• Capsicum

• Turmeric

• Garlic

• Onion

• Others

Market Breakup by Application

• Food and Beverages

• Pharmaceuticals

• Others

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Oleoresin Market Share

Paprika oleoresin maintains its dominance in the market due to its wide usage as a natural colouring agent in the food sector

Paprika oleoresin holds the highest share in the oleoresin market. In the food sector, paprika oleoresin is primarily used as a colouring agent. It provides a range of colours from bright orange to deep red, making it a popular choice for colouring meats, sausages, processed foods, snacks, and seasonings. It contains various antioxidants, such as carotenoids and capsaicinoids, which are beneficial for health. These antioxidants help fight free radicals in the body, reducing the risk of chronic diseases and promoting overall health. Due to these properties, paprika oleoresin is also used in cosmetic formulations for skincare products, where it can help protect the skin from oxidative stress and enhance its appearance.

Black pepper oleoresin market is anticipated to grow at a robust rate in the coming years. Black pepper oleoresin is highly valued for its distinctive pungent and spicy flavour, making it a popular ingredient in the food sector.  It is used as a flavouring agent in a wide range of products, including processed meats, sauces, marinades, soups, and snacks. The oleoresin provides a consistent flavour profile and is easier to handle and store compared to whole or ground black pepper.

The food and beverage sector accounts for a major share as oleoresin is widely used to enhance the flavour and appearance of food products

The food and beverage sector occupies a substantial market share. As oleoresin provides the same flavour, aroma, and texture as the original spice while having a longer shelf life, it is increasingly used in the food and beverage sector. The increasing preference for oleoresins due to their economic feasibility, easier quality control, non-volatility, and the requirement of lesser storage spaces by the food and beverages sector is fuelling the segment's growth. The surging popularity of health supplements for physical and emotional well-being and the rising popularity of ethnic foods with authentic flavours in countries like the United Kingdom, Germany, France, Italy, Spain, and the United States, among others, which use oleoresins such as turmeric oleoresin extensively, is aiding the market growth.

The pharmaceutical sector is anticipated to witness sizeable growth in the oleoresin market in the coming years due to the various medicinal and therapeutic properties of oleoresins. There is a growing trend towards natural and plant-based ingredients in the pharmaceutical sector. Oleoresins provide a natural alternative to synthetic chemicals and additives, aligning with consumer preferences for cleaner and safer products.

Leading Companies in Oleoresin Market

The market players are forming strategic partnerships and collaborations with other players, research institutions, and technology providers to leverage complementary strengths.

Universal Oleoresins is known for its wide range of spice extracts, essential oils, and oleoresins used in the food, beverage, pharmaceutical, and nutraceutical sectors.

Trilogy Essential Ingredients, Inc. specialises in providing high-quality flavours, seasonings, and essential oils to the food and beverage sector.

Indesso is a leading manufacturer of natural ingredients, including essential oils, oleoresins, and fragrance compounds and their products are used in a variety of applications, including food and beverage.

Synthite Industries Private Limited is a global leader in the extraction of natural products and the production of spice oleoresins, essential oils, and natural colours.

Other key players in oleoresin market include Paprika Oleo’s (India) Ltd. and S.A.S. Jean GAZIGNAIRE, among others.

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Oleoresin Market Analysis by Region

The demand for oleoresins in Europe is influenced by several factors, including the region's focus on natural and clean-label products. European consumers are increasingly seeking natural and clean-label products, both in food and pharmaceuticals. Oleoresins, being natural extracts of spices and herbs, fit well into this trend, offering flavour, colour, and health benefits without the need for synthetic additives. Europe's diverse culinary traditions drive the demand for a variety of flavours and spices and oleoresins are used extensively in the food sector as flavouring agents and colourants in a wide range of products, including processed foods, sauces, seasonings, and snacks.

The oleoresin market in Asia Pacific is expected to witness significant growth in the forecast period. The Asia Pacific region has a vast and diverse food sector where oleoresins are widely used as flavouring agents, colourants, and preservatives. Countries like India, China, Thailand, and Indonesia are known for their rich culinary traditions, where spices play a central role. Oleoresins derived from these spices are in high demand for their ability to provide consistent flavour and colour to food products.

Key Highlights of the Report

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Oleoresin Market Report Snapshots

Oleoresin Market Size

Oleoresin Market Share

Oleoresin Market Growth

Oleoresin Market Trends

Oleoresin Market Regional Analysis

Oleoresin Companies