Oleoresin Market Report Scope & Overview:

The Oleoresin Market size was USD 1.52 billion in 2022 and is expected to Reach USD 2.57 billion by 2030 and grow at a CAGR of 6.8 % over the forecast period of 2023-2030.

The use of oleoresin, with its functional qualities, is extremely important and in high demand in developing countries. Various medical researchers indicate that the use of oleoresin is increasing in the animal feed, pharmaceutical, cosmetic, and food and beverage industries.

Oleoresin Market Revenue Analysis

Based on product the market is segmented into Paprika, Black Pepper, Turmeric, Ginger, Cinnamon and cassia, Capsicum, and others. The paprika segment is expected to dominate the oleoresin market in 2022, with a revenue share of over 25%. This is due to the increasing demand for paprika oleoresin in the food and beverage industry. Paprika oleoresin is used as a coloring and flavoring agent in a variety of food products, such as sauces, snacks, and dairy products. Also, it is used in pharmaceuticals and cosmetics.

In terms of revenue, the pharmaceuticals application category is anticipated to experience a CAGR of 7.3% over the forecast period. This is a result of oleoresins' numerous health advantages and rising funding for pharmaceutical research and development. These goods are being used by the pharmaceutical industry to create natural treatments for health issues. In contrast to manufactured medications, oleoresins solely offer health advantages when consumed and don't have any negative side effects. Oleoresins' medicinal characteristics are being used by pharmaceutical industry players to diversify their product offerings, which has led to rising demand from the pharmaceutical application market.



  • Rise in trends of natural flavors in food and beverage processing

Oleoresins are natural extracts that contain essential oils and other flavor compounds. They are used to impart natural flavor and aroma to food and beverages. Consumers are increasingly demanding natural flavors in healthy food and beverage products. They are becoming more aware of the health risks associated with artificial flavors and are looking for alternatives. Oleoresins are a good alternative to artificial flavors because they are made from natural sources and do not have any harmful side effects.


  • Ensuring availability and maintenance of raw materials

Oleoresins are derived from spices that are obtained seasonally and their supply is affected by a variety of circumstances, including climate change, pests and illnesses, and political instability. Climate change, such as droughts and floods, can have an impact on the production of black peppercorns, which are grown in tropical and subtropical locations. Black pepper crops can also be harmed by pests and illnesses. Political unrest in some countries may also have an impact on the availability of raw materials for oleoresin production. For example, political unrest in India, a significant producer of ginger, has an impact on the production of ginger oleoresin.


  • Rising potential health benefits of Oleoresins

  • Increase in demand for feed phytogenics

Feed phytogenics are natural substances used in animal feed to promote livestock health and performance. Oleoresins are an important component of many feed phytogenics, and rising demand for these products is pushing up demand for oleoresins. The increased knowledge of the benefits of natural components in animal feed, as well as the increasing demand for food safety, growing concerns about livestock health, and healthy and high-quality animal products, are driving up demand for feed phytogenics.


  • High cost of oleoresins

The cost of oleoresins can be influenced by a variety of factors, including the type of spices and plants used to produce the oleoresin, as some plants and animals are more expensive to grow or maintain than others. Some extraction procedures cost more than others. More concentrated oleoresins are more expensive. When there is a significant demand for oleoresins, the price can be high as well.


Russia and Ukraine are important oleoresin producers, with a combined market share of roughly 25%. The war has impacted production and exports from these countries, resulting in global shortages and higher prices. Export demand for Indian wheat and spices has increased since Russia initiated an invasion against Ukraine, forcing the worldwide trade of agricultural goods to move to India as supply from the two countries has come to a halt. The scarcity of oleoresins is also harming food and beverage production.


The recession has had a significant impact on the oleoresin market. Spice prices have also risen due to local scarcity and high worldwide demand. Ukraine is a major exporter of coriander seeds and other spices, according to the Federation of Indian Spice Stakeholders. Coriander prices have risen by around 30% in 2022 due to a reduced harvest. We anticipate growing export demand for Indian coriander as supplies from the Black Sea region become limited.


By Product

  • Paprika

  • Black Pepper

  • Turmeric

  • Ginger

  • Cinnamon & Cassia

  • Capsicum

  • Others

By Application

  • Animal Feed

  • Pharmaceuticals

  • Cosmetics

  • Food & Beverage

Oleoresin Market Segmentation Analysis


The European region dominated the market with a revenue share of more than 40% in 2022. This is due to the growing need for flavoring and coloring agents in the processed food and beverage industry. Also, demand from cosmetic, fragrance, and personal care products industries that act as a hefty end-use industry for oleoresins. The presence of major flavoring companies in the UK, Spain, and Germany provides European oleoresin producers with increased sales potential. This has increased regional product demand. Givaudan, Symrise AG, and MANE are large oleoresin users situated in Switzerland, France, and Germany, respectively.

North America has a market for oleoresins due to large-scale demand for processed food and beverages, which indirectly creates demand for oleoresin. The oleoresins market is anticipated to be driven over the long term by these regions' strong need for food additives. Additionally, among the world's top spice importers are Canada and Mexico. Furthermore, it is predicted that leading manufacturers' rising spending on plant-based nutritional and wellness products will spur market expansion in the near future.

Asia Pacific region has a significant growth in the oleoresins market. This region is the globe's biggest supplier and manufacturer of the product. Countries such as India, Indonesia, China, Vietnam, and others are key spice producers in the region. The competitive market is driven by the large-scale production of paprika oleoresins.

The value of Indian spice oil and oleoresin exports in FY22 was Rs 4,478 crore, the highest so far. In FY22, both volume and value climbed by more than 30%. The rising demand for spice oleoresins has contributed to this. Synthite Ltd, an oleoresin company situated in Kerala, is the largest exporter, accounting for 30% of the global share. Over the last few years, Indian oleoresin exports have increased by more than 30% per year, compared to 10-15% previously.


North America

  • US

  • Canada

  • Mexico


  • 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


Synthite Industries Ltd., Kalsec Europe Ltd., Universal Oleoresins, Kancor Ingredients Ltd., Ozone Naturals, Paprika Oleo's India Limited, Chenguang Biotech Group Co. Ltd., Givaudan, Paras Perfumers, Naturite Agro Products Ltd, MRT GREEN PRODUCTS, Ozone Naturals, Akay Group Ltd, and other key players are mentioned in the final report.

Synthite Industries Ltd-Company Financial Analysis


In 2023 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.

In 2023 GNT's Oil-Soluble Paprika Provides Opportunities for Growth in a Variety of Applications. Shade Vivid Orange - OS is the first 100% soluble in oil plant-based color derived from non-GMO paprika in the EXBERRY® family.

In 2021 Givaudan Taste & Wellbeing has collaborated with renowned market intelligence firm Bellomy to launch FlavorFindersTM, a revolutionary research-backed, patent-pending segmentation tool for the North American market that will transform the way flavor strategy is built.

Oleoresin Market Report Scope:

Report Attributes Details
Market Size in 2022  US$ 1.52 Billion
Market Size by 2030  US$ 2.57 Billion
CAGR   CAGR of 6.8 % 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 Product (Paprika, Black Pepper, Turmeric, Ginger, Cinnamon & Cassia, Capsicum, and others)
• By Application (Animal Feed, Pharmaceuticals, Cosmetics, Food & Beverage)
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 Synthite Industries Ltd., Kalsec Europe Ltd., Universal Oleoresins, Kancor Ingredients Ltd., Ozone Naturals, Paprika Oleo's India Limited, Chenguang Biotech Group Co. Ltd., Givaudan, Paras Perfumers, Naturite Agro Products Ltd, MRT GREEN PRODUCTS, Ozone Naturals, Akay Group Ltd
Key Drivers • Rise in trends of natural flavors in food and beverage processing
Market Opportunity • Rising potential health benefits of Oleoresins
• Increase in demand for feed phytogenics


Frequently Asked Questions

Ans: Oleoresin Market is anticipated to expand by  6.8 % from 2023 to 2030.

Ans:  USD 2.57 billion is expected to grow by 2030.

Ans: Europe dominated the market in 2022.

Ans: Oleoresin Market size was valued at USD 1.52 billion in 2022

Ans:  Drivers are the rise in trends of natural flavors in food and beverage processing


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 Russia- Ukraine War
4.2 Impact of Ongoing Recession
4.3. Introduction
4.3.1 Impact on Major Economies US Canada Germany France United Kingdom China Japan South Korea Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis

8. Oleoresin Market Segmentation, By Product
8.1 Paprika
8.2 Black Pepper
8.3 Turmeric
8.4 Ginger
8.5 Cinnamon & Cassia
8.6 Capsicum
8.7 Others

9. Oleoresin Market Segmentation, By Application
9.1 Animal Feed
9.2 Pharmaceuticals
9.3 Cosmetics
9.4 Food & Beverage

10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 North America Oleoresin Market by Country
10.2.2 North America Oleoresin Market by Product
10.2.3 North America Oleoresin Market by Application
10.2.4 USA USA Oleoresin Market by Product USA Oleoresin Market by Application
10.2.5 Canada Canada Oleoresin Market by Product Canada Oleoresin Market by Application
10.2.6 Mexico Mexico Oleoresin Market by Product Mexico Oleoresin Market by Application
10.3 Europe
10.3.1 Eastern Europe Eastern Europe Oleoresin Market by Country Eastern Europe Oleoresin Market by Product Eastern Europe Oleoresin Market by Application Poland Poland Oleoresin Market by Product Poland Oleoresin Market by Application Romania Romania Oleoresin Market by Product Romania Oleoresin Market by Application Hungary Hungary Oleoresin Market by Product Hungary Oleoresin Market by Application Turkey Turkey Oleoresin Market by Product Turkey Oleoresin Market by Application Rest of Eastern Europe Rest of Eastern Europe Oleoresin Market by Product Rest of Eastern Europe Oleoresin Market by Application
10.3.2 Western Europe Western Europe Oleoresin Market by Country Western Europe Oleoresin Market by Product Western Europe Oleoresin Market by Application Germany Germany Oleoresin Market by Product Germany Oleoresin Market by Application France France Oleoresin Market by Product France Oleoresin Market by Application UK UK Oleoresin Market by Product UK Oleoresin Market by Application Italy Italy Oleoresin Market by Product Italy Oleoresin Market by Application Spain Spain Oleoresin Market by Product Spain Oleoresin Market by Application Netherlands Netherlands Oleoresin Market by Product Netherlands Oleoresin Market by Application Switzerland Switzerland Oleoresin Market by Product Switzerland Oleoresin Market by Application Austria Austria Oleoresin Market by Product Austria Oleoresin Market by Application Rest of Western Europe Rest of Western Europe Oleoresin Market by Product Rest of Western Europe Oleoresin Market by Application
10.4 Asia-Pacific
10.4.1 Asia Pacific Oleoresin Market by Country
10.4.2 Asia Pacific Oleoresin Market by Product
10.4.3 Asia Pacific Oleoresin Market by Application
10.4.4 China China Oleoresin Market by Product China Oleoresin Market by Application
10.4.5 India India Oleoresin Market by Product India Oleoresin Market by Application
10.4.6 Japan Japan Oleoresin Market by Product Japan Oleoresin Market by Application
10.4.7 South Korea South Korea Oleoresin Market by Product South Korea Oleoresin Market by Application
10.4.8 Vietnam Vietnam Oleoresin Market by Product Vietnam Oleoresin Market by Application
10.4.9 Singapore Singapore Oleoresin Market by Product Singapore Oleoresin Market by Application
10.4.10 Australia Australia Oleoresin Market by Product Australia Oleoresin Market by Application
10.4.11 Rest of Asia-Pacific Rest of Asia-Pacific Oleoresin Market by Product Rest of Asia-Pacific Oleoresin Market by Application
10.5 Middle East & Africa
10.5.1 Middle East Middle East Oleoresin Market by Country Middle East Oleoresin Market by Product Middle East Oleoresin Market by Application UAE UAE Oleoresin Market by Product UAE Oleoresin Market by Application Egypt Egypt Oleoresin Market by Product Egypt Oleoresin Market by Application Saudi Arabia Saudi Arabia Oleoresin Market by Product Saudi Arabia Oleoresin Market by Application Qatar Qatar Oleoresin Market by Product Qatar Oleoresin Market by Application Rest of Middle East Rest of Middle East Oleoresin Market by Product Rest of Middle East Oleoresin Market by Application
10.5.2 Africa Africa Oleoresin Market by Country Africa Oleoresin Market by Product Africa Oleoresin Market by Application Nigeria Nigeria Oleoresin Market by Product Nigeria Oleoresin Market by Application South Africa South Africa Oleoresin Market by Product South Africa Oleoresin Market by Application Rest of Africa Rest of Africa Oleoresin Market by Product Rest of Africa Oleoresin Market by Application
10.6 Latin America
10.6.1 Latin America Oleoresin Market by Country
10.6.2 Latin America Oleoresin Market by Product
10.6.3 Latin America Oleoresin Market by Application
10.6.4 Brazil Brazil Oleoresin Market by Product Brazil Oleoresin Market by Application
10.6.5 Argentina Argentina Oleoresin Market by Product Argentina Oleoresin Market by Application
10.6.6 Colombia Colombia Oleoresin Market by Product Colombia Oleoresin Market by Application
10.6.7 Rest of Latin America Rest of Latin America Oleoresin Market by Product Rest of Latin America Oleoresin Market by Application

11. Company Profile
11.1 Synthite Industries Ltd
11.1.1 Company Overview
11.1.2 Financials
11.1.3 Product/Services Offered
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2 Universal Oleoresins
11.2.1 Company Overview
11.2.2 Financials
11.2.3 Product/Services Offered
11.2.4 SWOT Analysis
11.2.5 The SNS View
11.3 Kalsec Europe Ltd
11.3.1 Company Overview
11.3.2 Financials
11.3.3 Product/Services Offered
11.3.4 SWOT Analysis
11.3.5 The SNS View
11.4 Kancor Ingredients Ltd
11.4 Company Overview
11.4.2 Financials
11.4.3 Product/Services Offered
11.4.4 SWOT Analysis
11.4.5 The SNS View
11.5 Ozone Naturals
11.5.1 Company Overview
11.5.2 Financials
11.5.3 Product/Services Offered
11.5.4 SWOT Analysis
11.5.5 The SNS View
11.6 Paprika Oleo's India Limited
11.6.1 Company Overview
11.6.2 Financials
11.6.3 Product/Services Offered
11.6.4 SWOT Analysis
11.6.5 The SNS View
11.7 Chenguang Biotech Group Co. Ltd.
11.7.1 Company Overview
11.7.2 Financials
11.7.3 Product/Services Offered
11.7.4 SWOT Analysis
11.7.5 The SNS View
11.8 Naturite Agro Products Ltd
11.8.1 Company Overview
11.8.2 Financials
11.8.3 Product/Services Offered
11.8.4 SWOT Analysis
11.8.5 The SNS View
11.9.1 Company Overview
11.9.2 Financials
11.9.3 Product/ Services Offered
11.9.4 SWOT Analysis
11.9.5 The SNS View
11. Givaudan
11.10.1 Company Overview
11.10.2 Financials
11.10.3 Product/Services Offered
11.10.4 SWOT Analysis
11.10.5 The SNS View
11.11 Akay Group Ltd
11.11.1 Company Overview
11.11.2 Financials
11.11.3 Product/Services Offered
11.11.4 SWOT Analysis
11.11.5 The SNS View
11.12 Ozone Naturals
11.12.1 Company Overview
11.12.2 Financials
11.12.3 Product/Services Offered
11.12.4 SWOT Analysis
11.12.5 The SNS View
11.13 Paras Perfumers
11.13.1 Company Overview
11.13.2 Financials
11.13.3 Product/Services Offered
11.13.4 SWOT Analysis
11.13.5 The SNS View

12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
12.3.1 Industry News
12.3.2 Company News
12.3.3 Mergers & Acquisitions

13. USE Cases and Best Practices

14. Conclusion

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Secondary Research

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Primary Research

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Data Bank Validation

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