(PharmaNewsWire.Com, April 27, 2021 ) The global oleoresins market is estimated to be valued at USD 1.2 billion in 2019 and is projected to reach USD 1.7 billion by 2025, recording a CAGR of 6.0% from 2019 to 2025.
Oleoresins are botanical extracts of essential oils and resin constituents. They form the flavor and aromatic profile of the plant from which they are extracted. Oleoresins are volatile or non-volatile compounds obtained from spices using solvents.
They prove to be more shelf-stable than the whole spice and can be custom-made to suit the requirements of the buyers. They are mainly used in processed foods such as soups, sauces, dressings, cheeses, chutneys, confectionery products, snacks, processed meat & seafood, baked food, processed vegetables, other dairy products, and beverages. Oleoresins are botanical extracts of essential oils and resin constituents.
The rising trend of using natural flavors in processed food and an increasing number of QSRs have led to a surge in demand for oleoresins. The rise in awareness regarding the side-effects of synthetic flavors and health benefits offered by phytomedicines and herbal extracts has significantly driven the growth of the market.
Based on application, the oleoresins market is segmented into pharmaceuticals & nutraceuticals, food & beverages, personal care products, and feed. The pharmaceuticals & nutraceuticals segment is projected to witness the fastest growth during the forecast period, due to the increasing preference for herbal medicines and increasing intake of natural dietary and health supplements in developed and developing countries.
By source, the oleoresins market is segmented into paprika, capsicum, seed spices, ginger, turmeric, cinnamon & cassia, herbs, and others. Some of the key oleoresins are extracted from the seeds of plants such as black pepper, cardamom, cumin, mustard, nutmeg, and fenugreek. Black pepper oleoresins are one of the majorly used oleoresins and find applications in hard and soft candies, chewing gums, baked products, ice creams, dairy products, alcoholic beverages, soft drinks, snacks, and canned food products.
Leading companies are Akay Group (India), Synthite Industries Pvt. Ltd. (India), AVT Naturals (India), Givaudan (Switzerland), PT Indesso Aroma (Indonesia), Vidya Herbs Private Limited (India), Ungerer & Company (US), Kancor Ingredients Ltd. (India), Plant Lipids (India), Kalsec Inc.(US), Gazignaire (France), and Universal Oleoresins (India).
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