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Global Paprika Market
Global Paprika Market was valued at US$ 459.78 Mn in 2019, and is expected to reach US$ 700 Mn by 2027, at a CAGR of 5.39 % during forecast period.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding paprika market dynamics, structure by identifying and analyzing the market segments and project the global market size.
Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in paprika market.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Paprika is a spice made from grounding up different varieties of Capsicum annuum peppers – these can include sweet bell peppers, hot red and/or peppers, and other varieties in between. It’s the fourth most-used spice around the world. Paprika have excellent anti-inflammatory, anti-aging, antioxidant properties, and anti-depression. Paprika can also be useful in the treatment of cancer, while oleoresin can be used in nausea, dysentery, and arthritis treatments. Major applications include food & beverages, flavors, pharmaceuticals, and others.
Factors behind the growth of the paprika market is, increasing demand for spices and oils in the food processing, rising awareness about the health benefits of the natural coloring agents over the artificial one, and growing demand in the specialty food market and ready to eat dishes. The macro-economic factors such as economic growth, changing lifestyle along with rising disposable income favors the demand for paprika in the market.
Based on the type, the paprika oleoresin segment is projected to register the highest CAGR during the forecast period attributed to its expanded applications in food industry, cosmetic industry and pharmaceutical industry. Increasing demand for natural colours across the globe ispushing the marker revenue growth of the overall paprika market. Paprika oleoresin is highly viscous and possess coloring properties due to presence of natural carotenoid pigments, especially capsanthin and capsorubin. Apart from this paprika oleoresin also contains capsaicin, which is the main flavoring compound giving pungent taste in higher concentrations.
Based on the end User, the food industry segment accounted for the largest share in the paprika market in 2017. In food industry the paprika is used in various dishes, products for color and flavor enhancement. It is used in pasta, sausages, and meat products and also for household consumption. Considering its antibacterial and anti-oxidant benefits on the health, the paprika is used for the various medical purpose and is thus used in the pharmaceutical industry. It is also useful for anti-dandruff oils and shampoos and is used in various hair and skin care products and for as a coloring agent for the same. The paprika is used extensively as a natural coloring agent food foods such as culinary, meat products, oil, and cheeses.
Geographically, Europe holds the major share of paprika market and it is expected to dominate the global paprika market during forecast period. Due to improved production and processing technology, European countries such as U.K., France, Germany, and Italy are expected to have rapid pace in the paprika extract market. North America and Asia Pacific region show significant growth in the market.
Scope of Paprika Market:
Global Paprika Market, by Type
• Vegetable paprika
• Spice paprika
• Colorant paprika
• Paprika Oleoresin
Global Paprika Market, by End User
• Food Industry
• Pharmaceutical Industry
• Cosmetic Industry
Global Paprika Market, by Region:
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating In Global Paprika Market:
• Chr. Hansen
• Ingredients Naturales Seleccionados
• Synthite Industries Ltd
• Kalsec Natural Ingredients
• Kancor Ingredients Limited
• Plant Lipids and Naturex
• Adani Pharmachem Private Limited
• Kancor Ingredients Limited
• Plant Lipids
• Ozone Naturals
• Universal Oleoresins
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