An essential oil is a concentrated liquid containing the “essence of” the plant’s fragrance (volatile aroma compounds). On the other hand, Oleoresins are a natural mixture of essential oils and resin extracted from its plant or source. Essential Oils and Oleoresins offer an excellent means to add natural concentrated flavors and colours to food products, ingredients and beverages. These extracts are produced by extraction and distillation of a wide range of herbs, spices and other botanicals.
The market has majorly been driven by the exports of high quality herbal extracts which are demanded by the US, Canada, Ukraine, South Korea, Czech Republic, Israel, France, Taiwan, Nepal, and other nations.
The major raw materials required for production of essential oil and oleoresins are whole spices such as Ajwain Seed, Black Pepper, Capsicum (Chilli), Cardamom, Cassia Bark, Celery Seed, Cinnamon Bark, Clove Bud, Coriander Seed, Cumin Seed, Curcumin Powder, Date, Fennel Seed, Galangal, Ginger, Mace, Nutmeg, Parsley Seed, Turmeric, White Pepper, Paprika.
The global oleoresins market is estimated to be valued at USD 1.2 billion in 2019 and is projected to reach USD 1.7 billion by 2025, recording a CAGR of 6.0% from 2019 to 2025. The rising trend of using natural flavors in processed food and an increasing number of QSRs have led to a surge in demand for oleoresins. The rise in awareness regarding the side-effects of synthetic flavors and health benefits offered by phyto-medicines and herbal extracts has significantly driven the growth of the market.
IT SHOULD BE NOTED THAT THE ABOVE MENTIONED FIGURES AND INFORMATION IS TENTATIVE. AS ESSENTIAL OIL AND OLEORESIN CONSULTANTS, WE RECOMMEND TECHNO- ECONOMIC FEASIBILITY REPORT TO UNDERSTAND EXACT DETAILS TO THE ABOVE MENTIONED INFORMATION.