Top Emerging Trends Of Oleoresin Market Progress Forecast 2030 |Grand View Research, Inc.Posted by Mrudula Karmarkar on August 29th, 2022 The global oleoresin market is expected to reach USD 2.60 Billion by 2030, as per the new report by Grand View Research, Inc. The growth is majorly driven by increased demand from the pharmaceutical, healthcare, and food and beverage industries. Therapeutic properties and multiple health benefits of oleoresins are considered to be major driving forces for the oleoresin market. Oleoresins are usually found in semi-solid states. They are derived from a variety of spices such as turmeric, garlic, paprika, and others. Oleoresins is a developed comprehensive market with the most important applications in the food & beverage and pharmaceutical sectors. Oleoresins are driven by cumulative demand for flavors, fragrances, and rising utilization in the pharmaceutical sector. Oleoresins are utilized extensively in the food and beverage industry as flavoring agents, and additives and also for their antioxidant nature. They are also used in the pharmaceutical and healthcare industry for their therapeutic and healing properties. Oleoresins are also utilized in cosmetics and personal care products such as skin creams and lotions. Europe emerged to be the largest market for the oleoresins contributing over 30% to the global revenue in 2021. Expansion in the food and beverages industry is contributing to the growth of oleoresin as a food additive in this region as well as pharmaceuticals and healthcare industries are driving the market in the region. The turmeric product segment has proliferated growth with a CAGR of 8.7% in terms of revenue for the forecast period. This is owed to multiple benefits of turmeric. India is the largest producer as well as exporter of turmeric globally. High demand for turmeric oleoresin in cosmetics, personal care pharmaceuticals, and healthcare sectors is likely to drive the product market. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/oleoresins-market/request/rs1 In COVID-19 pandemic, the overall oleoresin industry substantially endured the adverse impact. Even though, the value chain was disrupted owing to labor and raw material shortages due to restrictions imposed by the authorities globally. Manufacturers initially faced logistic challenges, the food sector was one of the necessities, and the industry improved with an exponential growth rate. Oleoresin Market Report Highlights
Growing demand from healthcare, pharmaceutical, food, and beverage industries are driving forces of the global oleoresin market. Oleoresins are made from varied ingredients and spices, which are found all around the world. It is usually found in semi-solid extract form. A variety of oleoresins has multiple characteristics based on the spice they are derived from. They exhibit numerous therapeutic as well as antioxidant properties as well and are utilized in the pharmaceutical, healthcare, food, and beverage industries. The global market is highly competitive and has numerous players across the globe. The market is majorly driven by demand from the food, beverage, and pharmaceuticals industry. It is heavily affected by fluctuations and volatility in the raw material market. For ensuring the constant supply of raw materials, the players have long-term contracts with the raw material producers. Companies are also focusing on increasing their production capacities by expanding their operations to different regions around the globe. For example, in November 2022, Givaudan expanded its Nantong manufacturing facility in China and doubled its flavor production capacity. The company invested USD 33.149 million in the facility expansion to meet the country's growing demand for food & beverages. Some prominent players in the global oleoresin market include
Like it? Share it! More by this author |