February 05, 2021
As cited by the business intelligence report titled ‘Global Paprika Oleoresin Market Size study, by Type (Spices, Flavors, Oleoresins) by Application (Food seasonings, Food coatings, Poultry feed color additive, Other) and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global paprika oleoresin market is expected to accrue significant revenues during 2020-2027.
The report states that rising product adoption for food coloring and flavoring, coupled with escalating demand for natural colors among the consumers are augmenting the growth of worldwide paprika oleoresin market size.
For the record, paprika oleoresins are extracted from dried and ground sweet pepper pods. These extracts are oil soluble, and are obtained from Capsicum frutescent and Capsicum annuum.
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Increasing utilization of the product to add color to emulsified processed meats, orange juice, spice mixtures, cheese, and sauces, along with surging demand from the cosmetic as well as pharmaceutical business verticals are stimulating the global paprika oleoresin market outlook. On the contrary, decreasing availability of cultivable land is a major restraining factor for the industry expansion during the analysis timeframe.
Based on type, the business sphere is categorized into oleoresins, flavors, and spices. With regards to application spectrum, the report comprises of poultry feed color additive, food coatings, food seasonings, and others.
From a regional point of view, global paprika oleoresin industry is fragmented into North America, Asia-Pacific, Latin America, Europe, and rest of the world. Among these, North America is expected to emerge as a key profit generator for the market over 2020-2027, owing to widespread cultivation of Capsicum frutescent.
Alternatively, Asia-Pacific is also set to amass lucrative gains during the stipulated timeframe, on account of swelling cultivation of the raw material crop, and rising disposable income.
Prominent organizations which define the global paprika oleoresin industry trends include Paras Perfumers, Paprika Oleo's (India) Ltd., Indo World Trading Corporation, AVT Natural Products Ltd., Synthite Industries Private Ltd., Akay Spices Pvt. Ltd., Plant Lipids Pvt. Ltd., Ungerer & Company Inc., Universal Oleoresins, and DDW Colours UK Ltd. among others.