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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Oleoresin Market Growth
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.
Oleoresin Market Report Snapshots
Oleoresin Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global oleoresin market attained a value of nearly USD 1.89 billion.
The market is projected to grow at a CAGR of 5.70% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach approximately USD 2.62 billion by 2032.
The market is being aided by the increasing use of oleoresin in the food and beverages industry and the rising demand for ethnic foods in various western countries.
The key trends guiding the market include growing health consciousness, rising demand for immunity-boosting products, and the surging use of oleoresin in the healthcare sector to treat various skin-related diseases.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major products of oleoresin in the market are paprika, black pepper, capsicum, turmeric, garlic, and onion, among others.
The significant applications of the product are food and beverages and pharmaceuticals, among others.
The major players in the market are Universal Oleoresins, Trilogy Essential Ingredients, Inc., Paprika Oleo's (India) Ltd., S.A.S. Jean GAZIGNAIRE, Indesso, and Synthite Industries Private Limited, among others.
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