Oleoresins Market Analysis

Oleoresins Source Market Analysis

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Based on source, the oleoresins market is segmented as spices, herbs, oleoresin blends, ginger, onion, others. Spices held a majority market value of USD 0.5 billion in 2022. Paprika oleoresin is used in the food industry to add natural red color and a mild, sweet pepper flavor to products like sauces, dressings, snacks, and meats. Black pepper oleoresin is utilized to impart a pungent and warm flavor to a wide range of food items, such as soups, sauces, meats, and seasonings. Moreover, an increasing usage will further accelerate the segment landscape.
 

Based on application, the oleoresins market is segmented as food & beverages, pharmaceuticals, personal care & cosmetics, others. Food & Beverages held a dominant market share of around 40% in 2022 and is expected to grow at a lucrative pace by 2032. Oleoresins are widely used in the food industry to enhance the taste and aroma of various products, including sauces, marinades, soups, snacks, seasonings, and ready-to-eat meals.
 

U.S. oleoresins market exceeded USD 0.4 billion in 2022 and is anticipated to expand at a significant pace from 2023-2032. Consumers in North America are increasingly seeking products with clean labels and natural ingredients. Oleoresins, being derived from spices and herbs, align with this preference as they offer a more recognizable and natural alternative to synthetic flavors and colorants. Thus, the above-mentioned variables would augment the oleoresins business growth in the North America positively.