Oleoresin Market 2021, Size, CAGR Value, Growth Rate, Latest Trends, Future Demand, Business Investment Plans, SWOT Analysis, Forecast to 2030

In a recent published report, Kenneth Research has updated the market report for Oleoresin Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Oleoresin Market products.

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REPORT HIGHLIGHT

The oleoresins market was valued at USD 468.2 million by 2017, growing with 4.8% CAGR during the forecast period, 2018-2025

Market Dynamics

Oleoresins are the highest form of concentrated product that is obtained from solvent extraction from a particular plant. This maybe herbs and spices most commonly. They are ground and then extracted using various organic solvents. The end product thus obtained is known to have application in various categories such as a colorant, as flavour imparting. It can be used to various applications across the varied industries like Food, pharma and in personal care ingredients. Since it is the concentrated form the original spice, it is much more beneficial in terms of transportation, packaging and shelf life as compared to the original source spice.

The major driver of the industry is its growing applications in the food and beverage industry. Oleoresins find applications in beverages, noodles, sauces, gravies, canned products and poultry products. Due to its ease of use and form, it is ideal for export conditions as well. Generally, the shelf life of raw spices is very limited to a few months as opposed to the shelf life of oleoresins being higher, up to a few months. In recent years, the increased awareness towards health foods and ethnic diets has also given this industry a push in terms of revenue generation. On contrary, fluctuation in raw material prices is expected to hamper the industry growth to some extent. A lot of factors that are closely involved with the price fluctuation include the crop cycles, weather conditions and others.

Product Takeaway

The major product categories when it comes to oleoresins are capsicum, black pepper, turmeric, paprika and garlic. Paprika, for instance, has a wide variety of application in food seasonings, food coating systems or dressings & dips and other dry soluble seasoning products. Based on Economic Time’s article, 2013, over 60% of the market for paprika oleoresins is dominated by India, followed by China. The increasing use of pepper spray has accelerated the global requirement for capsicum oleoresin which is among the key drivers of the pepper spray industry.

Application takeaway

Flavours are one of the most common application when it comes to the oleoresin industry. This application captured over 35% share of the global Oleoresin market. Pharmaceutical application is growing with highest growth rate owing to the increasing use of turmeric variant in this industry. The Asian Journal of Pharmaceutical Science and Technology stated that turmeric oil is widely used in pharmaceutical applications owing to its associated benefits such as anti-mutagenic, antioxidant and anti-carcinogenic properties. It also shows relief against depression, anxiety and others. Besides this, extracts is also widely used for treatment against back pain, joint pains and even cancer. The pepper oleoresin for instance is used in market such as arthritis treatment. According to a report in Arthritis Foundation (athrirtis.org), a German study concluded that joint pain decreased by nearly 50% by using 0.05% of capsaicin cream.

Regional Takeaway

Geographically, Europe accounted for the highest revenue share of the global oleoresin market. However, Asia Pacific region is growing with the fastest growth rate owing to the increasing investment by key players in region coupled with rising product demand from end-users. As per the Economic Times (2013), four companies based in Kerala control more than 85% of India’s 2,000-crore spice oleoresin industry. Thus it is well established that this region is a growing one.

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Key Market Players

Companies such as Synthite, Akay, Paprika Oleo’s, Ltd., Universal Oleoresin, GurjarPhytochem Private Ltd., Manohar Botanical Extracts Pvt, Plant lipids, Indo World, and Naturite Agro Products Ltd. are known for their presence in this industry. Kancor ingredients were one of the first entrants on the market, followed by Synthite and Plant Lipids. In the last few years, it has been noted that South America, East Europe and several Asian countries are the major buyers of the product.

The market size and forecast for each segment and sub-segments has been considered as below:

Historical Year – 2014 & 2016

Base Year – 2017

Estimated Year – 2018

Projected Year – 2025

TARGET AUDIENCE

Traders, Distributors, and Suppliers

Manufacturers

Government and Regional Agencies and Research Organizations

Consultants

Distributors

SCOPE OF THE REPORT

The scope of this report covers the market by its major segments, which include as follows:

MARKET, BY PRODUCT

Capsicum

Black Pepper

Turmeric

Paprika

Garlic

Ginger

Others

MARKET, BY APPLICATION

Food & Beverages

Pharmaceuticals

Flavors

Others

MARKET, BY REGION

North America

U,S.

Canada

Europe

Germany

France

Rest of Europe

Asia Pacific

India

China

Rest of APAC

Rest of the World

Middle East and Africa

Latin America

About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

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