The Oleoresin Global Market Report 2023, provides comprehensive information on the oleoresin market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global oleoresin market size is expected to grow from $1.45 billion in 2022 to $1.55 billion in 2023 at a compound annual growth rate (CAGR) of 7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global oleoresin market size is expected to reach $1.96 billion in 2027 at a CAGR of 6.1%.
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Product innovations are a key trend gaining popularity in the oleoresins market. Major companies operating in the oleoresins market are adopting new production techniques to manufacture oleoresins and sustain their position in the market. For instance, in May 2022, Algalif, an Iceland-based high-grade natural astaxanthin manufacturer, along with Divi’s Nutraceuticals, a US-based carotenoids manufacturer, developed highly concentrated beadlets of sustainable natural astaxanthin oleoresin from microalgae. This newly developed astaxanthin oleoresin is developed using renewable energy and has a scope of application in fortified drinks, nutrition bars, gummies, tablets, and Twizzlers. The newly developed AstaBeadTM beadlets show excellent performance in application in the food and beverage industry due to their ease of handling characteristics.
The oleoresin market is segmented:
1) By Product: Paprika, Black Pepper, Capsicum, Turmeric, Ginger, Garlic, Onion, Seed Spice, Herbs, Other Products
2) By Raw Material: Leaves, Seeds, Flowers, Roots, Berries, Other Raw Materials
3) By Extraction Process: Solvent Extraction, Supercritical Fluid Extraction, Other Processes
4) By Application: Food, Beverages, Fragrances, Pharmaceutical, Nutraceutical, Other Applications
Europe was the largest region in the oleoresin market in 2022.
The table of contents in TBRC’s oleoresin market report includes:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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