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Oleoresins Market Size

Report ID: GMI6439
Published Date: Aug 2023
Report Format: PDF

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Oleoresins Market Size

Oleoresins Market size was valued at around USD 1.8 billion in 2023 and is estimated to reach USD 3.2 billion by 2032. Oleoresins are concentrated liquid extracts that retain the natural flavor and aroma of the original spice or herb. They are widely used in the food and beverage industry to enhance the taste and aroma of products, including sauces, seasonings, soups, snacks, and ready-to-eat meals. Oleoresins offer convenience to food manufacturers as they provide a standardized and consistent flavor profile, eliminating the need for handling whole spices and herbs.

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Many spices and herbs used in oleoresin production are known for their potential health benefits. For instance, turmeric oleoresin is sought after for its curcumin content, which is believed to have anti-inflammatory properties

Oleoresins Market Report Attributes
Report Attribute	Details
Base Year:	2023
Oleoresins Market Size in 2023:	USD 1.8 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	6.5%
2032 Value Projection:	USD 3.2 Billion
Historical Data for:	2018 to 2023
No. of Pages:	120
Tables, Charts & Figures:	136
Segments covered:	Source, Application, Region
Growth Drivers:	Flavor and Fragrance Industry Demand Rise in Natural Ingredients Processed Food Industry Growth
Pitfalls & Challenges:	Seasonal and Weather-Dependent Supply Fluctuating raw material prices Quality Control and Consistency

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Many spices and herbs used in oleoresin production are cultivated in specific regions and are subject to seasonal variations and weather conditions. The oleoresins market can experience price volatility due to factors like fluctuating raw material prices, supply-demand imbalances, and changes in production costs. Maintaining consistent quality in oleoresins can be challenging, especially when sourcing raw materials from different regions and batches. Thus, the risks associated with Oleoresins may drive down the acceptance rate, further hampering the business growth.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Oleoresins industry share was worth USD 1.8 billion in 2023 and is projected to reach USD 3.2 billion by 2032, driven by increasing application in the food and beverage sector worldwide.

Spice oleoresins market recorded USD 0.5 billion in 2022 and is expected to witness high demand through 2032 owing to increasing usage of spices, such as Paprika oleoresin, Black pepper oleoresin in the food industry.

U.S. oleoresins industry generated USD 0.4 billion in revenue in 2022 and is anticipated to record significant growth through 2032 owing to the growing consumer preference for clean label and natural ingredients in the region.

Some of the top companies in the oleoresins industry are Synthite Industries Ltd., Universal Oleoresins, Vidya Herbs Private Ltd., Kancor Ingredients Ltd., Plant Lipids, AVT Natural Products Ltd., Akay Group, Givaudan, India Essential Oils, Shaanxi Jiahe Phytochem Co., Ltd., and Robertet Group