7-May-2019: The global paprika market size
is expected to reach USD 619.5 million by 2025 expanding at an estimated CAGR
of 5.3% over the forecast period, according to a new report by Grand View
Research, Inc. Rising awareness regarding the health benefits of paprika is
expected to drive the market. The oleoresin segment led the global industry and
constituted over 36% of the total market share in 2018. Some of the leading
companies, such as Ungerer & Company, Synthite, Chr. Hansen Holding A/S,
and Unilever Food Solutions, offer a wide range of paprika. Other prominent
market players include Ingredientes Naturales Seleccionados, EVESA and Kancor
Ingredients Limited. Rising demand for colorants coupled with natural spices
has propelled the demand for paprika across the world.
Paprika are used in F&B
applications, such as cheese, orange juice, spice mixtures, sauces, seasoning
material in fast food, emulsified process meats, and sweets. They help in
providing a specific color texture to food products. Paprika oleoresins are
extensively used as natural flavoring in meat products, cheese, popcorn oil,
and cheese food coatings. Paprika also find wide applications in
pharmaceuticals sector. They help reduce pain, anxiety, and stress when used in
proper concentrations. Paprika also have inherent properties, such as
analgesic, anti-inflammatory, and anti-obesity properties and can also be used
in anti-cancer treatments.
In
depth research report on Paprika
Market
Further
key findings from the study suggest:
· The
spice powder product segment is projected to reach 109.4 million by 2025
registering a strong CAGR from 2019 to 2025
· Among
applications, the food segment led the overall market revenues with a share of
46.7% in 2018
· Brazil
paprika market is expected to witness a strong growth over the forecast period
on account of increasing demand for spice oils from the food industry
· Rising
consumer awareness about the health benefits of paprika is expected to drive
the market further
· The
market is extremely competitive. The key companies include Synthite Industries
Ltd., Chr. Hansen Holding A/S, Ungerer & Company Unilever Food Solutions,
and Plant Lipids
· Most of
the aforementioned companies have undertaken initiatives, such as acquisitions,
frequent mergers, strategic alliances, and capital expansion to gain higher
market share
Grand View Research has
segmented the global paprika market on the basis of type, application, and
region:
Paprika
Type Outlook (Revenue, USD Million, 2014 - 2025)
· Vegetable
Paprika
· Spice
Powder
· Paprika
Oleoresin
· Others
Paprika
Application Outlook (Revenue, USD Million, 2014 - 2025)
· Food
· Pharmaceuticals
· Cosmetics
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more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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