Oleoresins Market Sales and Drivers Analysis Research Report 2032

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Oleoresins Market Demand to Cross USD 3.2 Bn by
2032
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Overview of Nutraceutical Ingredients Market
The oleoresins market size will reach USD 3.2
billion by 2032, according to the latest report
by Global Market Insights Inc. As per the study,
increasing demand for natural ingredients among
consumers will transform market dynamics over
2023-2032. With growing consumer awareness about
health and wellness, there is a rising demand for
natural and clean-label ingredients in food and
beverages. Oleoresins, being natural extracts
from spices and herbs, align with this trend.
They are seen as a more natural alternative to
artificial flavorings and colorings, boosting
their demand in the food industry. Companies in
this space are undertaking RD efforts to
innovate new products to suffice the growing
demand from consumers across the globe and comply
with stringent industry standards. For instance,
in October 2021, BGG World and its subsidiary,
Algae Health Sciences, announced the NOP Organic
Certification of their Astaxanthin supercritical
CO2 oleoresin, known as AstaZine. This
certification, granted by the US Department of
Agriculture's National Organic Program (NOP),
signifies compliance with rigorous national
standards for organic agricultural products in
the United States. This achievement builds upon
BGG's 2016 milestone when their Astaxanthin farm,
the world's largest, and its Astaxanthin-containin
g powder became the first to receive organic
certification globally.
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Ginger Oleoresins to witness high demand   The
ginger oleoresins industry will witness
commendable growth throughout 2023-2032 due to
the increasing awareness of ginger's health
benefits, including its anti-inflammatory and
digestive properties, leading to its
incorporation into various food, beverage, and
nutraceutical products. Ginger oleoresins offer a
convenient and concentrated form of ginger flavor
and aroma, making them popular in the food
industry, especially in the production of
ginger-flavored snacks, beverages, and spices.
Additionally, the demand for natural ingredients
in the food industry has fueled the use of ginger
oleoresins as a clean-label alternative to
artificial flavorings and colorings. In June
2022, Specnova introduced GingerT3, an organic
and fermented ginger extract that boasts
exceptional potency, specifically designed to
enhance joint health and mobility. What sets
GingerT3 apart is its remarkable bioavailability,
allowing for the lowest market-available dosage
(75-125mg). Moreover, its outstanding solubility
and stability make it a versatile choice for
incorporation into various product formats, such
as gummies, chews, capsules, tablets, powders,
functional foods, and beverages, offering
flexibility to formulators. Such innovation will
further contribute to segment growth over the
next ten years.
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Pharmaceuticals to emerge as a prominent
application segment   The pharmaceutical segment
could dominate the application landscape of the
oleoresins market by 2032. The concentrated and
natural compounds derived from plants offer a
reliable source of active pharmaceutical
ingredients, enabling precise formulations.
Additionally, the demand for plant-based and
clean-label medicines has grown, prompting
pharmaceutical companies to explore oleoresins as
natural alternatives. For instance, turmeric
oleoresins, with their curcumin content, are used
in anti-inflammatory drugs, showcasing the
potential of oleoresins in creating effective and
sustainable pharmaceutical solutions. APAC to
dominate the regional outlook   Asia Pacific
oleoresins industry is experiencing significant
growth, driven by various factors. The region's
rich biodiversity and favorable climate
contribute to the availability of diverse
botanical sources for oleoresin production. In
addition, the rising demand for natural and
flavorful food products has spurred the use of
oleoresins as natural flavor enhancers. For
example, in India, the spice oleoresins market
has witnessed robust growth due to the country's
prominence in spice production, catering to both
domestic and global markets. Besides, the
expanding pharmaceutical and cosmetic sectors in
the Asia Pacific utilize oleoresins for their
therapeutic and aromatic properties, further
propelling industry growth.
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Oleoresins market players   Major companies
operating in this space are Universal Oleoresins,
Shaanxi Jiahe Phytochem Co., Ltd., Synthite
Industries Ltd., Givaudan, Plant Lipids, Adani
Pharmachem Private Ltd., India Essential Oils,
Akay Group, Robertet Group, Ransom Naturals Ltd.,
Vidya Herbs Private Ltd., Indena S.p.A., Kancor
Ingredients Ltd., PlantExtracts International
Inc., and AVT Natural Products Ltd. These
companies prioritize strategic partnerships, the
introduction of new products, and the process of
commercialization as key strategies to expand
their market presence. For instance, Synthite
Ltd, a prominent oleoresin manufacturer based in
Kerala and serving approximately 30 percent of
the global market, has ambitious growth plans.
Over the next three years, the company aims to
achieve a group turnover of ?4,000 crore. A
significant contributor to this target will be
the newly established facilities at the Synthite
Taste Park located in Pangode, near Kochi. These
facilities are anticipated to generate an
additional ?500-600 crore in revenue within the
next 2-3 years, further bolstering the company's
current turnover of ?3,000 crore.
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