The Global Oleoresins Market was valued at US$ 1.27 billion in 2021 and is predictable to reach US$ 2.23 billion by 2030 which is projected to attain a CAGR of 6.4 % during the forecast period from 2021- 2030.
Oleoresins are essential oil and resin component plant extracts. They help to enhance the flavour and fragrance of the plant from which they are derived. Oleoresins are compounds that are extracted from spices using solvents and are either volatile or non-volatile. They have a longer shelf life than the whole spice and can be tailored to the needs of the client. Soups, dressings, processed vegetables, chutneys, sauces, confectionery items, snacks, processed meat cheeses, seafood, baked dishes, other dairy products, and beverages are all examples of processed foods. Oleoresins are essential oil and resin component plant extracts.
The expanding popularity of natural flavours in processed foods, as well as an increase in the number of fast service restaurants, has resulted in a boom in oleoresin demand. In addition, the market has grown dramatically as people have become more aware of the negative effects of synthetic tastes and the health advantages of phytomedicines and plant extracts.
Oleoresins are preferred by manufacturers in food and beverage, pharmaceutical, and other industries because they are a cost-effective solution that allows for better quality control and requires less storage space.
Oleoresins contain a lot more non-volatiles than essential oils. This fact adds to their appeal in the flavour and food industries. Paprika, capsicum, turmeric, vanilla, black pepper, cardamom, and cinnamon are just a few of the notable oleoresins. Food and beverage (beverage, bakery, spices, and sauces, meat and seafood goods, and other items), fragrance sector, and pharmaceuticals and nutraceuticals all have their unique utilities and roles in their industry.
Ethnic dishes are becoming increasingly popular around the world. Some of the most popular international flavours include Indian, Thai, and Mexican cuisines. Spice oleoresins are intriguing elements for food manufacturers to use when creating ethnic meals. Instead of purchasing marinades from flavouring companies, some of them make their own using oleoresins and other spices (for example, dried spices). Several manufacturers of mayonnaise, sauces, marinades, and pickles use oleoresins as components rather than flavourings from flavouring companies. Heat stability and storage are further advantages of oleoresins. They are resistant to microbial contamination and have a far longer shelf life than fresh or even dried spices.
Raw material prices fluctuation and rise according to a variety of agro-climatic factors has a considerable risk due to the commodity market's regular price fluctuations which are anticipated to restrain the global oleoresins market during the forecast period. However, food and flavouring companies are always on the lookout for novel flavours to incorporate into their goods. They're particularly interested in novel varieties of oleoresins that are low-cost and may produce excellent effects with less application.
For optimum growth and development, livestock requires adequate nutrition and care; with increased food safety awareness, growing concerns about livestock health, and a focus on increasing feed intake, and good resistance to the use of antibiotics in feed, oleoresins are becoming preferred ingredients in livestock nutrition. As the demand for meat and eggs has increased tremendously across the globe and for ensuring that animals intake sufficient nutrition for better growth and development as well as good quality animal products, the growers feed them numerous products to boost the animal performance according to their nutrients need.
North America is anticipated to lead the global oleoresins market during the forecast period owing to the huge demand for processed food in the region.
The Global Oleoresins Market is segmented by source, extraction process, application, and region. Based on source, it is categorized into capsicum, turmeric, cinnamon & cassia, paprika, seed spices, ginger, herbs, and others (floral, tamarind, onion, cardamom, asafetida, nutmeg, and garlic). By extraction process, it is bifurcated into supercritical fluid extraction and solvent extraction. The application segment bifurcates into pharmaceuticals & nutraceuticals, feed, food & beverages, and personal care products. Based on regional insights, the global oleoresins market is categorized into North America (US, Canada, Mexico, Rest of America), Asia Pacific (India, China, Rest of Asia Pacific), Europe (UK, Germany, Russia, Rest of Europe) and Rest of the world (Latin America and Middle East & Africa).
Prominent players inducing the Global Oleoresins Market are Givaudan, Kancor Ingredients Ltd., Plant Lipids, Synthite Industries Pvt. Ltd., Akay Group Ltd., Kalsec Inc., Ozone Natural, and Universal Oleoresins among others.
Segmentation and Scope of the Global Oleoresins Market
Global Oleoresins Market is segmented by source, extraction process, application, and region.
By Extraction Process
Rest of World
Middle East & Africa
Prominent players in the Global Oleoresins Market among other includes