Oleoresin
are highly concentrated pure extracts of spices or herbs. These are
naturally occurring combination of oil and resins extracted from
plants. Oleoresin can be obtained from various plant sources
including, chilli, turmeric, valerian, paprika, clove, coriander and
others. Paprika oleoresin is an oil soluble extract obtained from the
dried and ground sweet pepper pods also called as fruits of Capsicum
annum Linn or Capsicum frutescens with the prime function in food
coloring and flavoring industry. Capsicum annum Linn is widely
consumed as vegetable across the globe and is native to North America
and northern South America. Paprika oleoresin is highly viscous and
possess coloring properties due to presence of natural carotenoid
pigments, especially capsanthin and capsorubin. Apart from this
paprika oleoresin also contains capsaicin, which is the main
flavoring compound giving pungent taste in higher concentrations. The
global Paprika Oleoresin market is expected to witness significant
revenue opportunity over the forecast period attributed to its
expanded applications in food industry, cosmetic industry and
pharmaceutical industry. Increasing demand for natural colours across
the globe ispushing the marker revenue growth of the overall paprika
oleoresin market.
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Paprika
Oleoresin Market Segmentation
Global
paprika oleoresin market is segmented on the basis of application,
sales channels and region. On the basis of application the global
paprika oleoresin market can be segmented into, food and beverages
industry, cosmetic industry and pharmaceutical industry. The food and
beverages segment is further sub-segmented into bakery and
confectionary, sauces and seasoning, dairy industry, desserts and ice
cream, meat products, convenience foods, juices and others. While the
cosmetic industry is further sub segmented into, skin care products,
hair care products and others. The food and beverages industry is the
largest industry for paprika oleoresin due to increasing application
of paprika oleoresin as a coloring agent in various foods. Food and
beverage industries commonly use the oil soluble form of paprika
oleoresin for coloring. On the basis of sales channels the global
paprika oleoresin market is segmented into, direct sales and indirect
sales segment. The indirect sales segment is further sub segmented
into, wholesaler, trader and retailer.
On
the basis of region the global paprika oleoresin market is segmented
into, North America, Latin America, Europe, Asia Pacific and Middle
East and Africa. Europe and North America are expected to account for
the maximum revenue share in the paprika oleoresin market attributed
to increasing production of paprika oleoresin the regions. Owing to
growing consumers demand for clean label natural paprika oleoresin
the food products manufacturers are bringing transparency in the
origin of their food products offerings. This clean label trend is
also followed in cosmetic industry wherein the consumers seek
cosmetics with minimal side effects.
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Paprika
Oleoresin Market Global Market Trends and Market Drivers:
The
global market for paprika oleoresin is relatively large in European
countries particularly due to favorable climatic and soil conditions
for paprika growth and further harvesting can be done me mechanically
thus, contributing towards considerable domestic production. Globally
approximately 7-8 thousand tonnes of paprika oleoresin are produced
annually with India, Spain, Peru and China as the main suppliers of
paprika oleoresin to Europe. As the global demand for coloring food
stuff increases the market for paprika oleoresin also increases. Food
products manufacturers increasingly use food stuffs with coloring
properties instead of synthetic colors thus enabling them to keep
their labels clean. Furthermore, a large proportion of consumers
across the globe consume excessive amounts of salt then required.
Paprika oleoresin is used to color salt and the demand for products
containing less salt is strong. In regards to this various food
product manufacturers are using paprika oleoresin in order to other
to mask the salt reduction. Also growing demand for organic certified
paprika oleoresin is contributing towards the market growth of
paprika oleoresin over the forecast period.
Paprika
Oleoresin Market Key Players:
Variety
of Paprika Oleoresin have been introduced by the manufacturers and
some of the global market players manufacturing paprika oleoresin
market include; DDW The Colour House, Holland Ingredients, KANCOR
Naturex S.A., Synthite Industries, Chr. Hansen Kalsec Inc., Universal
Oleoresins, Ingredientes Naturales Seleccionados S.L. and others.
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