The high inclination of flavors and food industry towards oleoresins is driving the growth of the market. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Global Oleoresins Market Research Report- Forecast to 2023 that the market will demonstrate an exceptional CAGR % while achieving million-dollar growth readily in the forecast period.
Oleoresins is used as a vibrant ingredient in many industries from which it is majorly used in fragrance and flavor, cosmetics, personal care, pharmaceuticals and aromatherapy. In recent times, it has been observed that flavors and fragrances industry is witnessing massive growth which is supporting the demand for high quality oleoresins.
Oleoresins are getting acceptance in bakery & confectionery owing to the microbiological advantages. Increasing bakery & confectionery market is expected to be one of the significant factors for the rising growth of oleoresins during the forecast period. Apart from that, growing preference of the consumers in replacing synthetic ingredients by natural ingredients is expected to fuel the sales of oleoresins during the forecast period of 2017-2023. Moreover, oleoresins are getting traction due to its increasing usage as a food additive in flavor & color which will uplift the growth of the market.
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Top Leading Players
The key players profiled in
- Oleoresins are Oleoresin Company (India),
- Silverline Chemicals Ltd (India),
- Jean Gazignaire SA (France),
- Qingdao Ruibang Biotechnology Co., Ltd (China),
- Agnes Herbs (India),
- Shijiazhuang City Bio-Technology co., ltd (China),
- Adani Pharmachem Private Limited (India),
- Kancor Ingredients Limited (India),
- Ozone Naturals (India)
- Plant Lipids (India)
The key players involved in this market are highly emphasizing into acquisitions and mergers which can help them in their business expansion. Also, they are heavily investing in their production plants to increase the production capacity for fulfilling the growing demand for the product. Moreover, key manufacturers are entering into a collaboration with the online channels to reach maximum customers and to upsurge the brand value of the product. The manufacturers are also increasing their global footprints by penetrating untapped market and increasing the overall profitability.
Latest Industry Updates
Nov 2017 Olene developed Gingest using its patented Autosome processing technology, which allows for the safe production of ginger oleoresin powder without the use of solvents.
June 2017 Arjuna Natural Extract, maker of essential oils and oleoresins has opened a new sales office in Dallas, making their line of products more readily available stateside
May 2017 Prova launched natural vanilla alternative Provanil –US7 whose vanilla has been enrobed with oleoresin vanilla.
March 2017 Heliae announced two certifications on their astaxanthin which is produced from Haematococcus pluvias. The products labeled as TruAzta 10% oleoresins and the newly introduced TruAzta 5% oleoresins products have received vegan and vegetarian certification from Vegan Action and The Vegetarian Society Organizations respectively.
Global Oleoresins market has been divided into product, raw material, application and Region
On the Basis of Product: Black Pepper, Paprika, Capsicum, Turmeric, Tomato, Marigold, Garlic, Onion, Ginger and Others
On the Basis of Raw Material: Leaves, Seeds, Flowers, Roots, Berries and Others
On the Basis of Application: Food and Beverages, Pharmaceutical, Flavoring & Coloring Agent and Others
On the Basis of Region: North America, Europe, Asia Pacific and Rest of the World
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The global Oleoresins market is segmented into North America, Europe, Asia Pacific and Rest of the World. Among all the region, Europe region is projected to hold and retain its dominance throughout the forecast period. In which, Germany is accounting for the major portion in the Europe market for the year 2017. However, Asia Pacific is expected to witness a massive growth in the coming years owing to various factors. Growing preference for natural ingredients over synthetic colors and flavors among consumers is expected to enhance the sales of oleoresins in this region.
This post was originally published on Trading Herald