Paprika Market Size, Share, Growth, Price Trend and Industry Analysis Report

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.

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

Access full research report on global paprika market: 
www.grandviewresearch.com/industry-analysis/paprika-market

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Created on Oct 23rd 2019 08:27. Viewed 454 times.

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