Global Paprika Ingredient – Market Outlook
Paprika is a commonly used as a flavoring agent or food coloring agent. The growing demand for colorants coupled with natural spices has guided the growth of the market worldwide. Paprika oleoresins are commonly used as natural flavoring in the food industry, as well as in meat products, milk, popcorn oil, and coatings of milk foods.
Demand for natural food colors is growing owing to enhanced consumer awareness for natural foods, health consequences of synthetic colors and health benefits of natural food colors.
Awareness among consumers is supporting the overall market demand
Factors such as increasing awareness of health and inclination towards environmentally friendly goods drive demand for naturally grown food products across the globe. As a result, food producers commonly use natural food colors after processing to enhance the appeal of foods and beverages.
Applications of the product are found in several F&B applications including cheese, spice mixtures, sauces, and processed meats. It provides food products with a specific texture of color. The ingredient is used particularly in fast foods as seasoning material. Paprika ingredient also used to convey taste to cold beverages. It offer high stability which makes it suitable for use in food products.
High demand of natural ingredient is fueling the paprika ingredient market growth
The paprika ingredient market is flourishing, taking into account multiple factors such as high demand for spices and oils in food processing, growing awareness of the health benefits of natural flavoring agents over artificial ones, and increased demand in the foodservice industry and ready to eat dishes.
The market for paprika oleoresin is also growing as global demand for coloring foodstuffs increases. Manufacturers of packaged foods are increasingly using ingredients with coloring properties rather than synthetic colors, allowing them to keep their products safe.
Organic ingredient gaining popularity
Increasing demand for certified organic paprika oleoresin is also contributing to the growth of paprika oleoresin market over the forecast period. Consumers today expect transparency and accountability of the goods, including details about the ingredients resent in food products.
Rising consumer awareness of positive impact of consuming products that include natural plant-derived extracts is expected to help expand the market size of botanical extracts over the forecast period without compromising on flavor and taste.
Global Paprika Ingredient Market – Segmentation
Based on nature the global paprika ingredient market is segmented as
Based on product type the global paprika ingredient market is segmented as
Based on region, the global paprika ingredient market is segmented as
Global Paprika Ingredient Market – Key Players
Some of the major players of global paprika ingredient market are McCormick & Company Inc., DDW The Colour House, Chr. Hansen Kalsec Inc., Asian Oleoresin Company, Evesa, Holland Ingredients, Holland Ingredients, AVT Natural Products Ltd, Synthite and others
Impact of COVID-19 on Global Paprika Ingredient Market
The COVID-19 pandemic altered purchasing habits in the all regions. Online transactions on e-commerce platforms are growing because of the imposed lockout in most of the high-potential markets. Therefore, suppliers or brand owners are redesigning the supply chain to cope with this situation in future. Coronavirus pandemic affected most of the regions of the globe, despite of this food manufacturer’s work fully to feed everyone
One of the major risk that the outbreak will lead to is disruptions in supply, as China is one of the key provider of botanical ingredients.
Global Paprika Ingredient Market- Opportunity
The growing food service industry is largely catering for regional demand, in China and India. Advancement of e-commerce business in the world, is likely to further drive sales growth in the paprika ingredients market.
It is expected that Europe and North America will account for the maximum revenue share on the paprika ingredient market attributed to increased paprika oleoresin production in the regions. Due to the growing demand of consumers for clean label natural food products manufacturers bring transparency in the origin of their food product offerings.
Due to rising income levels and altering food experiences, consumption behavior, and demand for ingredient in form of oil as well as powder is likely to witness strong growth during the forecast period. Wide application and adoption of exotic ingredients in food industry is open opportunities for the new entrants of the paprika ingredient market