Paprika Oleoresin Market

According to Stratistics MRC, the Global Paprika Oleoresin Market is accounted for $213.13 million in 2022 and is expected to reach $363.39 million by 2028 growing at a CAGR of 9.3% during the forecast period. The oil soluble extort known as "paprika oleoresin," which is derived from the fruits of the capsicum frutescens or capsicum annuum, is mostly employed in food as flavouring and colouring agent. Paprika oleoresin is frequently used as a culinary colouring in both food and beverages. It is frequently used to give many foods colour and flavour. The item smells distinctively of sweet chilies.

According to the CBI Ministry of Foreign Affairs, black pepper, paprika, and turmeric are the most prevalent oleoresins in Europe. The meat sector primarily uses black pepper oleoresin as a preservative while other oleoresins are utilized in processed foods because of their color, flavor, and ethnicity. According to Caobisco, in Europe the intake of confectionery is increasing and went from 8,222,999 thousand tons in 2015 to 8,324,241 thousand tons in 2016. The trend also is visible in Germany. Coupled with this, rising focus on health and wellness among consumers is increasing the utilization of natural colors including paprika color by bakery and confectionery manufacturers.



Market Dynamics:

Driver:

Increasing demand for organic certified paprika oleoresin

Manufacturers of certain extracts may profit from the legal distinction between natural food extracts with colouring properties and those labelled as food additives. Meals are seasoned with paprika oleoresin in tiny amounts (0.01 to 0.05 percent). Organic food producers frequently rely on an exemption provision in organic laws as a result of these incredibly low concentrations. Even though the product is labelled as organic, they could nevertheless employ a small amount of non-organic ingredients.

Restraint:

Surge in prices for raw materials

Due to their restricted supply, raw materials will likely see an increase in price on the market, which will affect sales by raising the cost of finished goods. In order to obtain raw materials at a reasonable price, businesses should find alternate sources of suppliers and ecosystem partners.

Opportunity:

Promoting nutrient paprika food

It might promote healthy vision and lessen tenderness by employing paprika oleoresin. In addition to being simple to incorporate into the diet and thought to be crucial for nutritious meals, paprika oleoresin may also help with blood sugar regulation. There is a huge market opportunity for paprika oleoresin because it has antioxidant properties and lowers the risk of heart disease and cancer.

Threat:

Side effects and substitutes

If used in the average amount needed for cooking, paprika should be regarded as an anodyne food. However, some people may experience allergic or non-allergic symptoms while eating food that is spiced excessively. Allergic reactions are harmful to life, which puts the market at risk. The paprika oleoresin market is severely constrained by major replacements such as red chilli powder, grinding cayenne, and crushed red pepper flakes.

Covid-19 Impact

Nearly every business has been impacted by the unmatched worldwide public health emergency known as COVID-19, and the long-term impacts are expected to have an influence on industry growth throughout the course of the forecast period. In order to assure the inclusion of underlying COVID-19 concerns and potential future directions, our continuous study expands upon our research approach. The paper provides information on COVID-19 taking into account changes in consumer demand and behaviour, buying habits, supply chain rerouting, dynamics of contemporary market forces, and significant government initiatives. Insights, analyses, projections, and forecasts are provided in the updated study, which takes the market impact of COVID-19 into account.

The flavours segment is expected to be the largest during the forecast period

The flavours segment is estimated to have a lucrative growth, due to a variety of altered flavours that range from mild and sweet to extremely spicy. The majority of the paprika is dried by smouldering, giving it a hazy flavour. The market for paprika oleoresins is expanding as a result of the availability of several paprika flavours. Three distinct flavours of paprika, including hot paprika, sweet paprika, and smoked paprika, can be distinguished.

The Pharmaceuticals segment is expected to have the highest CAGR during the forecast period

The Pharmaceuticals segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the reason that they are utilised in pharmaceutical applications to treat minor gout, backaches, sprains, and muscle and joint issues. They assist the body in getting rid of free radicals. The product is also made using dried, ripe capsicum frutescens or capsicum annuum fruits. Additionally, paprika oleoresin is utilised in the production of medications for joint and body discomfort, consumption of anti-toxic medications, which are produced in big quantities in the pharmaceutical business and are drawing in customers, boosts the market for paprika oleoresin.

Region with highest share:

North America is projected to hold the largest market share during the forecast period owing to the help of implementing technical developments in the product portfolio, the presence of major players like Microsoft and Google will accelerate market growth. The market expansion across the region would be expanded by increased expenditures by businesses on R&D, food product makers are introducing transparency in the origin of their food product offerings in response to the growing consumer demand for clean label natural paprika oleoresin.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, owing to the market for paprika oleoresin is experiencing tremendous expansion due to a rise in the demand for spicy foods. It includes the largest market for the agricultural sector, which generates items made from paprika oleoresin. The market for paprika oleoresin is expanding as a result of the massive consumption of agricultural products including those from matrix farming and chilli farming.



Key players in the market

Some of the key players profiled in the Paprika Oleoresin Market include Abbott, Samsung, Siemens Healthcare, Bayer, Asian Oleoresin Company, Paprika Oleo’s, Givaudan, Algatechnologies Ltd., Universal Oleoresins, DDW The Colour House, Sinopaprika Co. Ltd, AVT Natural Products Ltd, Naturexl, Bioprex Labs. And Ambe Group

Key Developments:

In February 2020, Givaudan, the global leader in fragrances and flavors, announced it has completed the acquisition of Ungerer & Company, the US-based Flavour, Fragrance, and Specialty Ingredients Company.

In July 2019, DDW The Color House has completed a transaction to acquire the DuPont Natural Colors business, which was part of DuPont’s Nutrition & Biosciences division. The acquisition expands the global reach of DDW, a provider of natural color solutions for the food and beverage industry, as well as adding technical and manufacturing capabilities in several core natural colors.

In June 2018, Algatechnologies Ltd. announced the debut of “Fucovital,” an all-natural patented oleoresin made and extracted from microalgae that contain three percent fucoxanthin.

In Feb 2018, DDW The Color House, a major food ingredient manufacturer, launched EmulsiTech cloudy paprika. The ingredient claims to be non-GMO, palm-free, and water-dispersible colouring ingredient that delivers cloudy orange colour to soft drinks. The ingredient was launched as an alternative to cochineal extract and to target the vegan food industry.

Products Covered:
• Turmeric
• Onion
• Garlic
• Ginger
• Black Pepper
• Capsicum
• Paprika
• Other Products

Distribution Channels Covered:
• Online Retail
• B2B
• Hypermarket / Supermarket
• B2C
• Other Distribution Channels

Types Covered:
• Paprika Oleoresin CO2 Extracted
• General Paprika Oleoresin
• Flavours
• Oleoresins
• Spices
• Other Types

Natures Covered:
• Conventional
• Organic
• Other Natures

Extraction Methods Covered:
• Supercritical Fluid Extraction (SFE)
• Solvent Extraction
• Other Extraction Methods

Applications Covered:
• Cosmetic
• Food & Beverages
• Pharmaceuticals
• Food Seasonings & Coatings
• Personal Care
• Poultry Feed Color Additive
• Other Applications

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances