The Capsicum Oleoresin Market size was USD 32.2 million in 2022 and is expected to Reach USD 58.7 million by 2030 and grow at a CAGR of 7.8% over the forecast period of 2023-2030.
Capsicum oleoresin is a viscous, reddish-brown homogenous liquid extracted from dried ripe fruits of Capsicum annum L or Capsicum fruitescens L. It is a complex chemical mixture that includes capsaicinoids, carotenoids, and flavonoids. The active chemicals in capsicum oleoresin that give chili peppers their spiciness are known as capsaicinoids.
Based on nature, the organic segment of the Capsicum Oleoresin market is expected to grow at a CAGR of 8.6% with the rising trend for organic/natural oleoresins. The solvent extraction method is widely used in the Food & Beverage Industry, Pharmaceutical, Nutraceuticals, and other end-user sectors.
Based on the end-user sector, the food and beverage category is expected to account for a sizable portion of the worldwide capsicum oleoresin market. Customers' broad usage of goods and beverages containing spice oleoresins is driving segment growth. High demand from the developing food and beverage industry is one of the capsicum oleoresin market growth factors.
KEY DRIVERS
Rising demand for personal care and pharmaceutical products
Capsicum oleoresin is a natural chili pepper extract observed for its strong flavor as well as anti-inflammatory and analgesic qualities. Natural and organic personal care and medicinal goods are becoming increasingly popular among consumers. As capsicum oleoresin is a natural product, it appeals to consumers who want natural and organic products. Consumers are becoming more aware of capsicum oleoresin's health advantages, such as its potential to alleviate pain and inflammation, enhance skin health, and encourage hair growth. This is increasing demand for items containing capsicum oleoresin.
RESTRAIN
Strict government regulations
Capsicum oleoresin is a food additive, it is subject to food safety standards. These laws differ from country to country, but they often compel producers to follow stringent hygiene guidelines and test their goods for dangerous pollutants. These standards are intended to safeguard the safety and quality of food goods, as well as to label the product's contents, nutritional value, and potential allergens. They can, however, make it difficult for new players to enter the market and raise costs for existing firms.
OPPORTUNITY
Development of new applications for capsicum oleoresin
In recent years, there has been a growing interest in using capsicum oleoresin in new applications. Currently, cosmetics, nutraceuticals, and food supplements all use capsicum oleoresin. This is a result of growing knowledge of capsicum oleoresin's health advantages, including its capacity to increase metabolism, lessen discomfort, and enhance skin health. In food supplements, capsicum oleoresin is used to promote weight loss and enhance athletic performance. The market for this commodity is growing, offering opportunities for manufacturers and investors, and novel uses for capsicum oleoresin are being developed.
CHALLENGES
The high price of capsicum oleoresin
Capsicum oleoresin is a relatively expensive food additive since it is difficult to extract and requires specific equipment and knowledge. To comply with government requirements, manufacturers must pay significant costs. These expenses may include the cost of product testing, getting permissions, and recruiting qualified employees. The high price of capsicum oleoresin may also make entry into the market difficult for new entrants.
Ukraine is a major supplier of chili peppers, which are used to make capsicum oleoresin. The war has impacted agricultural production in Ukraine, resulting in a global shortage of chili peppers. As a result, the price of chili peppers has risen, as has the price of capsicum oleoresin. Since the commencement of the war, the price of capsicum oleoresin has risen by 16%. This has resulted in lower consumer spending on non-essential items such as food additives and personal care products. Because of the war, global demand for capsicum oleoresin is predicted to fall by 3% in 2022. This has had a negative influence on the market for capsicum oleoresin.
Recessions have a substantial impact on the capsicum oleoresin industry as they can reduce consumer spending and hamper corporate activity. Consumers are more inclined to cut back on discretionary expenditures, such as food and personal care products, during a recession. This could result in a drop in demand for capsicum oleoresin. Raw materials, labor, and transportation costs can all rise as a result of inflation. This may increase the cost of producing capsicum oleoresin, resulting in higher pricing for customers. In 2023, global production of capsicum oleoresin is predicted to fall by 5%.
By Nature
Organic
Conventional
By Extraction Method
Solvent Extraction
SCFE
By End-user
Food & Beverage Industry
Pharmaceutical
Nutraceuticals
Retail / Household
Other
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North America is estimated as the largest market for capsicum oleoresin, followed by Europe and Asia Pacific. Capsicum oleoresin is in high demand in North America due to the growing popularity of spicy foods and the expanding use of capsicum oleoresin in the food and beverage, personal care, and pharmaceutical industries.
Europe is the second-largest market for capsicum oleoresin. The increasing need for natural and organic products, as well as the increasing use of capsicum oleoresin in the food and beverage, personal care, and pharmaceutical industries, are driving the high demand for capsicum oleoresin in Europe.
Asia Pacific is a rapidly increasing market for capsicum oleoresin in 2022. The growing population, increased urbanization, and rising disposable incomes all contribute to Asia Pacific's high demand for capsicum oleoresin. The increasing popularity of spicy food, as well as the increasing use of capsicum oleoresin in the food and beverage, personal care, and pharmaceutical industries, are driving demand for capsicum oleoresin in Asia Pacific.
REGIONAL COVERAGE
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Some major key players in the Capsicum Oleoresin Market are BOS Natural Flavors Pvt. Ltd, Synthite Industries Ltd., UniversalOleoresins, Vidya Herbs, India Essential Oils, HDDES Group, Bioingredia Natural Pvt Ltd., Ozone Naturals, Trilogy Essential Ingredients, Inc., Akay Flavours & Aromatics, Plant Lipids, AVT Natural Products, and other key players.
In 2022, Synthite, an oleoresin maker, aims for a 4,000 Cr turnover in three years. The new factory in Kochi is expected to generate an additional 500-600 crore in revenue.
| Report Attributes | Details |
| Market Size in 2022 | US$ 32.2 Million |
| Market Size by 2030 | US$ 58.7 Million |
| CAGR | CAGR of 7.8 % From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Nature (Organic, Conventional) • By Extraction Method (Solvent Extraction, SCFE) • By End-user (Food & Beverage Industry, Pharmaceutical, Nutraceuticals, Retail / Household, and Other) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | BOS Natural Flavors Pvt. Ltd, Synthite Industries Ltd., UniversalOleoresins, Vidya Herbs, India Essential Oils, HDDES Group, Bioingredia Natural Pvt Ltd., Ozone Naturals, Trilogy Essential Ingredients, Inc., Akay Flavours & Aromatics, Plant Lipids, AVT Natural Products |
| Key Drivers | • Rising demand for personal care and pharmaceutical products |
| Market Opportunity | • Development of new applications for capsicum oleoresin |
Ans: Capsicum Oleoresin Market is anticipated to expand by 7.8% from 2023 to 2030.
Ans: Capsicum Oleoresin Market size was valued at USD 4.4 billion in 2022
Ans: The development of new applications for capsicum oleoresin are an opportunity for the Capsicum Oleoresin Market.
Ans: The Asia Pacific region is the fastest-growing for Capsicum Oleoresin Market in 2022
Ans: The high price of capsicum oleoresin are the challenge of the Capsicum Oleoresin Market.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on Major Economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Capsicum Oleoresin Market Segmentation, By Nature
8.1 Organic
8.2 Conventional
9. Capsicum Oleoresin Market Segmentation, By Extraction Method
9.1 Solvent Extraction
9.2 SCFE
10. Capsicum Oleoresin Market Segmentation, By End-user
10.1 Food & Beverage Industry
10.2 Pharmaceutical
10.3 Nutraceuticals
10.4 Retail / Household
10.5 Other
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 North America Capsicum Oleoresin Market by Country
11.2.2 North America Capsicum Oleoresin Market by Nature
11.2.3 North America Capsicum Oleoresin Market by Extraction Method
11.2.4 North America Capsicum Oleoresin Market by End-user
11.2.5 USA
11.2.5.1 USA Capsicum Oleoresin Market by Nature
11.2.5.2 USA Capsicum Oleoresin Market by Extraction Method
11.2.5.3 USA Capsicum Oleoresin Market by End-user
11.2.6 Canada
11.2.6.1 Canada Capsicum Oleoresin Market by Nature
11.2.6.2 Canada Capsicum Oleoresin Market by Extraction Method
11.2.6.3 Canada Capsicum Oleoresin Market by End-user
11.2.7 Mexico
11.2.7.1 Mexico Capsicum Oleoresin Market by Nature
11.2.7.2 Mexico Capsicum Oleoresin Market by Extraction Method
11.2.7.3 Mexico Capsicum Oleoresin Market by End-user
11.3 Europe
11.3.1 Eastern Europe
11.3.1.1 Eastern Europe Capsicum Oleoresin Market by Country
11.3.1.2 Eastern Europe Capsicum Oleoresin Market by Nature
11.3.1.3 Eastern Europe Capsicum Oleoresin Market by Extraction Method
11.3.1.4 Eastern Europe Capsicum Oleoresin Market by End-user
11.3.1.5 Poland
11.3.1.5.1 Poland Capsicum Oleoresin Market by Nature
11.3.1.5.2 Poland Capsicum Oleoresin Market by Extraction Method
11.3.1.5.3 Poland Capsicum Oleoresin Market by End-user
11.3.1.6 Romania
11.3.1.6.1 Romania Capsicum Oleoresin Market by Nature
11.3.1.6.2 Romania Capsicum Oleoresin Market by Extraction Method
11.3.1.6.4 Romania Capsicum Oleoresin Market by End-user
11.3.1.7 Turkey
11.3.1.7.1 Turkey Capsicum Oleoresin Market by Nature
11.3.1.7.2 Turkey Capsicum Oleoresin Market by Extraction Method
11.3.1.7.3 Turkey Capsicum Oleoresin Market by End-user
11.3.1.8 Rest of Eastern Europe
11.3.1.8.1 Rest of Eastern Europe Capsicum Oleoresin Market by Nature
11.3.1.8.2 Rest of Eastern Europe Capsicum Oleoresin Market by Extraction Method
11.3.1.8.3 Rest of Eastern Europe Capsicum Oleoresin Market by End-user
11.3.2 Western Europe
11.3.2.1 Western Europe Capsicum Oleoresin Market by Nature
11.3.2.2 Western Europe Capsicum Oleoresin Market by Extraction Method
11.3.2.3 Western Europe Capsicum Oleoresin Market by End-user
11.3.2.4 Germany
11.3.2.4.1 Germany Capsicum Oleoresin Market by Nature
11.3.2.4.2 Germany Capsicum Oleoresin Market by Extraction Method
11.3.2.4.3 Germany Capsicum Oleoresin Market by End-user
11.3.2.5 France
11.3.2.5.1 France Capsicum Oleoresin Market by Nature
11.3.2.5.2 France Capsicum Oleoresin Market by Extraction Method
11.3.2.5.3 France Capsicum Oleoresin Market by End-user
11.3.2.6 UK
11.3.2.6.1 UK Capsicum Oleoresin Market by Nature
11.3.2.6.2 UK Capsicum Oleoresin Market by Extraction Method
11.3.2.6.3 UK Capsicum Oleoresin Market by End-user
11.3.2.7 Italy
11.3.2.7.1 Italy Capsicum Oleoresin Market by Nature
11.3.2.7.2 Italy Capsicum Oleoresin Market by Extraction Method
11.3.2.7.3 Italy Capsicum Oleoresin Market by End-user
11.3.2.8 Spain
11.3.2.8.1 Spain Capsicum Oleoresin Market by Nature
11.3.2.8.2 Spain Capsicum Oleoresin Market by Extraction Method
11.3.2.8.3 Spain Capsicum Oleoresin Market by End-user
11.3.2.9 Netherlands
11.3.2.9.1 Netherlands Capsicum Oleoresin Market by Nature
11.3.2.9.2 Netherlands Capsicum Oleoresin Market by Extraction Method
11.3.2.9.3 Netherlands Capsicum Oleoresin Market by End-user
11.3.2.10 Switzerland
11.3.2.10.1 Switzerland Capsicum Oleoresin Market by Nature
11.3.2.10.2 Switzerland Capsicum Oleoresin Market by Extraction Method
11.3.2.10.3 Switzerland Capsicum Oleoresin Market by End-user
11.3.2.11.1 Austria
11.3.2.11.2 Austria Capsicum Oleoresin Market by Nature
11.3.2.11.3 Austria Capsicum Oleoresin Market by Extraction Method
11.3.2.11.4 Austria Capsicum Oleoresin Market by End-user
11.3.2.12 Rest of Western Europe
11.3.2.12.1 Rest of Western Europe Capsicum Oleoresin Market by Nature
11.3.2.12.2 Rest of Western Europe Capsicum Oleoresin Market by Extraction Method
11.3.2.12.3 Rest of Western Europe Capsicum Oleoresin Market by End-user
11.4 Asia-Pacific
11.4.1 Asia-Pacific Capsicum Oleoresin Market by Country
11.4.2 Asia-Pacific Capsicum Oleoresin Market by Nature
11.4.3 Asia-Pacific Capsicum Oleoresin Market by Extraction Method
11.4.4 Asia-Pacific Capsicum Oleoresin Market by End-user
11.4.5 China
11.4.5.1 China Capsicum Oleoresin Market by Nature
11.4.5.2 China Capsicum Oleoresin Market by End-user
11.4.5.3 China Capsicum Oleoresin Market by Extraction Method
11.4.6 India
11.4.6.1 India Capsicum Oleoresin Market by Nature
11.4.6.2 India Capsicum Oleoresin Market by Extraction Method
11.4.6.3 India Capsicum Oleoresin Market by End-user
11.4.7 Japan
11.4.7.1 Japan Capsicum Oleoresin Market by Nature
11.4.7.2 Japan Capsicum Oleoresin Market by Extraction Method
11.4.7.3 Japan Capsicum Oleoresin Market by End-user
11.4.8 South Korea
11.4.8.1 South Korea Capsicum Oleoresin Market by Nature
11.4.8.2 South Korea Capsicum Oleoresin Market by Extraction Method
11.4.8.3 South Korea Capsicum Oleoresin Market by End-user
11.4.9 Vietnam
11.4.9.1 Vietnam Capsicum Oleoresin Market by Nature
11.4.9.2 Vietnam Capsicum Oleoresin Market by Extraction Method
11.4.9.3 Vietnam Capsicum Oleoresin Market by End-user
11.4.10 Singapore
11.4.10.1 Singapore Capsicum Oleoresin Market by Nature
11.4.10.2 Singapore Capsicum Oleoresin Market by Extraction Method
11.4.10.3 Singapore Capsicum Oleoresin Market by End-user
11.4.11 Australia
11.4.11.1 Australia Capsicum Oleoresin Market by Nature
11.4.11.2 Australia Capsicum Oleoresin Market by Extraction Method
11.4.11.3 Australia Capsicum Oleoresin Market by End-user
11.4.12 Rest of Asia-Pacific
11.4.12.1 Rest of Asia-Pacific Capsicum Oleoresin Market by Nature
11.4.12.2 Rest of Asia-Pacific Capsicum Oleoresin Market by Extraction Method
11.4.12.3 Rest of Asia-Pacific Capsicum Oleoresin Market by End-user
11.5 Middle East & Africa
11.5.1 Middle East
11.5.1.1 Middle East Capsicum Oleoresin Market by Country
11.5.1.2 Middle East Capsicum Oleoresin Market by Nature
11.5.1.3 Middle East Capsicum Oleoresin Market by Extraction Method
11.5.1.4 Middle East Capsicum Oleoresin Market by End-user
11.5.1.5 UAE
11.5.1.5.1 UAE Capsicum Oleoresin Market by Nature
11.5.1.5.2 UAE Capsicum Oleoresin Market by Extraction Method
11.5.1.5.3 UAE Capsicum Oleoresin Market by End-user
11.5.1.6 Egypt
11.5.1.6.1 Egypt Capsicum Oleoresin Market by Nature
11.5.1.6.2 Egypt Capsicum Oleoresin Market by Extraction Method
11.5.1.6.3 Egypt Capsicum Oleoresin Market by End-user
11.5.1.7 Saudi Arabia
11.5.1.7.1 Saudi Arabia Capsicum Oleoresin Market by Nature
11.5.1.7.2 Saudi Arabia Capsicum Oleoresin Market by Extraction Method
11.5.1.7.3 Saudi Arabia Capsicum Oleoresin Market by End-user
11.5.1.8 Qatar
11.5.1.8.1 Qatar Capsicum Oleoresin Market by Nature
11.5.1.8.2 Qatar Capsicum Oleoresin Market by Extraction Method
11.5.1.8.3 Qatar Capsicum Oleoresin Market by End-user
11.5.1.9 Rest of Middle East
11.5.1.9.1 Rest of Middle East Capsicum Oleoresin Market by Nature
11.5.1.9.2 Rest of Middle East Capsicum Oleoresin Market by Extraction Method
11.5.1.9.3 Rest of Middle East Capsicum Oleoresin Market by End-user
11.5.2 Africa
11.5.2.1 Africa Transfusion Diagnostics Market by Country
11.5.2.2 Africa Capsicum Oleoresin Market by Nature
11.5.2.3 Africa Capsicum Oleoresin Market by Extraction Method
11.5.2.4 Africa Capsicum Oleoresin Market by End-user
11.5.2.5 Nigeria
11.5.2.5.1 Nigeria Capsicum Oleoresin Market by Nature
11.5.2.5.2 Nigeria Capsicum Oleoresin Market by Extraction Method
11.5.2.5.3 Nigeria Capsicum Oleoresin Market by End-user
11.5.2.6 South Africa
11.5.2.6.1 South Africa Capsicum Oleoresin Market by Nature
11.5.2.6.2 South Africa Capsicum Oleoresin Market by Extraction Method
11.5.2.6.3 South Africa Capsicum Oleoresin Market by End-user
11.5.2.7 Rest of Africa
11.5.2.7.1 Rest of Africa Capsicum Oleoresin Market by Nature
11.5.2.7.2 Rest of Africa Capsicum Oleoresin Market by Extraction Method
11.5.2.7.3 Rest of Africa Capsicum Oleoresin Market by End-user
11.6 Latin America
11.6.1 Latin America Capsicum Oleoresin Market by Country
11.6.2 Latin America Capsicum Oleoresin Market by Nature
11.6.3 Latin America Capsicum Oleoresin Market by Extraction Method
11.6.4 Latin America Capsicum Oleoresin Market by End-user
11.6.5 Brazil
11.6.5.1 Brazil Capsicum Oleoresin Market by Nature
11.6.5.2 Brazil Capsicum Oleoresin Market by Extraction Method
11.6.5.3 Brazil Capsicum Oleoresin Market by End-user
11.6.6 Argentina
11.6.6.1 Argentina Capsicum Oleoresin Market by Nature
11.6.6.2 Argentina Capsicum Oleoresin Market by Extraction Method
11.6.6.3 Argentina Capsicum Oleoresin Market by End-user
11.6.7 Colombia
11.6.7.1 Colombia Capsicum Oleoresin Market by Nature
11.6.7.2 Colombia Capsicum Oleoresin Market by Extraction Method
11.6.7.3 Colombia Capsicum Oleoresin Market by End-user
11.6.8 Rest of Latin America
11.6.8.1 Rest of Latin America Capsicum Oleoresin Market by Nature
11.6.8.2 Rest of Latin America Capsicum Oleoresin Market by Extraction Method
11.6.8.3 Rest of Latin America Capsicum Oleoresin Market by End-user
12. Company profile
12.1 BOS Natural Flavors Pvt. Ltd
12.1.1 Company Overview
12.1.2 Financial
12.1.3 Products/ Services Offered
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Synthite Industries Ltd.
12.2.1 Company Overview
12.2.2 Financials
12.2.3 Product/Services Offered
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 UniversalOleoresins
12.3.1 Company Overview
12.3.2 Financials
12.3.3 Product/Services Offered
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 Vidya Herbs
12.4.1 Company Overview
12.4.2 Financials
12.4.3 Product/Services Offered
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 India Essential Oils
12.5.1 Company Overview
12.5.2 Financials
12.5.3 Product/Services Offered
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 HDDES Group
12.6.1 Company Overview
12.6.2 Financials
12.6.3 Product/Services Offered
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 Bioingredia Natural Pvt Ltd.
12.7.1 Company Overview
12.7.2 Financials
12.7.3 Product/Services Offered
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 Ozone Naturals
12.8.1 Company Overview
12.8.2 Financials
12.8.3 Product/Services Offered
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 Trilogy Essential Ingredients, Inc.
12.9.1 Company Overview
12.9.2 Financials
12.9.3 Product/Services Offered
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 Akay Flavours & Aromatics
12.10.1 Company Overview
12.10.2 Financials
12.10.3 Product/Services Offered
12.10.4 SWOT Analysis
12.10.5 The SNS View
12.11 Plant Lipids
12.11.1 Company Overview
12.11.2 Financials
12.11.3 Product/Services Offered
12.11.4 SWOT Analysis
12.11.5 The SNS View
12.12 AVT Natural Products
12.12.1 Company Overview
12.12.2 Financials
12.12.3 Product/Services Offered
12.12.4 SWOT Analysis
12.12.5 The SNS View
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. Use Case and Best Practices
15. Conclusion
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