Spice Oils And Oleoresins Market Insights Report 2022 with COVID-19 Pandemic Analysis & Future Growth Analysis by 2030

Heightening health and environmental concerns have compelled consumers to bring about a paradigm shift in their eating habits. Increasing presence of inorganic contaminants such as chemicals and excessive antibiotics have heightened incidences of chronic and infectious diseases. These broader factors are likely to drive global spice oils & oleoresins market during 2020-2030, according to a new research by Future Market Insights.

Oleoresins and spice oils are preeminent in the food & beverage industry. Oleoresins are botanical extracts, amalgamating essential oil and resin constituents. They are non-volatile or volatile compounds obtained from spices using solvents.

Possessing properties akin to conventional spices, oleoresins are effective substitutes providing equally effective texture, aroma and flavor. Moreover, they are easy to store and transport due to their highly concentrated nature leading to immense bulk and space savings.

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COVID-19 Impact Insights

As the world buckles under the pressure of COVID-19, the spice oils & oleoresins market is anticipated to remain stoic throughout its duration in the short-term. Rising demand for ready-to-eat products across the world has assisted the oleoresin market to survive despite logistical roadblocks.

Heightening demand for noodles, pasta and other instant foods during the pandemic as well as the drive to prepare new home-cooked tasty meals have generated good tidings for the market. However, demand is likely to suffer in the HORECA segment as dine-out facilities have shut down amid implementation of social distancing measures.

Despite this slowdown, the global landscape is anticipated to remain substantially strong throughout the duration of the pandemic, with consistent demand being generated from the pharmaceutical and instant food industries.

spice oils and oleoresins market characteristics and attributes with regional relevance

Competitive Intelligence

The global spice oils & oleoresins market is interspersed with the presence of multiple players. Majority of these players are making inroads into the South Asian markets, attributed to the easy availability of spices and other raw materials. Major emphasis is on forging links with regional distributors to augment sales networks.

In September 2019, doTERRA International LLC, a prominent essential oils manufacturers, established its business outreach into the South American market, initiating a new corporate office in Colombia. The company manufactures essential therapeutic oils derived from oleoresins. This foray has helped South American customers access to top quality therapeutic oils.

Ultra-International B.V, a prominent Dutch oil specialist company, operates across several prominent regions, having its operations in countries such as Singapore, US, Australia, the Middle East and India. The company manufactures a range of oils from plant-based sources, such as cloves, coriander, cumin and eucalyptus among others.

Key Segments

Type

  • Spice Oils
  • Oleoresins

Distribution Channel

  • B2B/Direct
  • B2C/Indirect

Nature

  • Organic
  • Conventional

Application

  • Food & Beverages
  • Bakery & Confectionery
  • Beverages
  • Dressings & Condiments
  • Sauces, Spreads & Soups
  • Cosmetics and Personal Care
  • Skin Care
  • Hair Care
  • Toiletries
  • Aromatherapy
  • Pharmaceuticals
  • Household
  • Dietary Supplements
  • Foodservice
  • Industrial

Region

  • North America (U.S & Canada)
  • Latin America (Mexico, Brazil, Peru, Argentina & Rest of Latin America)
  • Europe (EU-4, BENELUX, Nordic Countries, Russia, Poland & Rest of Europe)
  • South Asia (India, Thailand, Indonesia, Malaysia and Rest of South Asia)
  • East Asia (China, Japan & South Korea)
  • Oceania (Australia & New Zealand)
  • Middle East & Africa (GCC, Northern Africa, South Africa & Rest of MEA)

To gain more insights into the market with a detailed table of content and figures, click here: https://www.futuremarketinsights.com/toc/rep-gb-4510

Key Questions Answered in the Report

How has the spice oils & oleoresins market evolved over the years?

The spice oils & oleoresins market has demonstrated a strong growth trajectory in the historical period ranging from 2015-2019, and will continue demonstrating a substantial trend throughout the 2020-2030 forecast period.

Which is the largest market for spice oils & oleoresins?

South Asia shall likely be the market hegemon in the upcoming decade, attributed to its dominant position in the production of herbs and spices, the key raw ingredients required to produce spice oils

Which are the notable industrial developments over recent years?

The last few years have witnessed a paradigm shift in the eating habits of consumers. There is a pervading trend of consuming clean-label ingredient and organic products. Thus, the need for plant-based ingredients has surged, providing massive traction to the market

Which are the key challenges, opportunities and improvement factors for market players?

High volatility in prices of essential raw materials has generated inconsistencies in production capacities of vendors. Frequent price fluctuations make it difficult to determine a global benchmark which would ensure a steady revenue inflow. This leads to varying profit margins, rendering it difficult to chart a steady growth path.

About FMI

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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