Paprika Extract: Market Overview

Paprika extract, also known as Capsicum annuum L by its botanical name, is the extract of the genus Capsicum fruit. Capsicum is widely consumed all around the world as a vegetable, spice or color. It is used as the spice and as a natural food coloring and flavoring agent. Paprika oleoresin is the oil obtained from the paprika powder. The paprika extract is responsible for the range of orange to red color in commercial products. It has little or no pungency, unlike paprika oleoresin. Paprika extract constitutes carotenoid pigments, capsaicinoids, added or extracted vegetable oil and natural lipids. The paprika extract is mainly used in household consumption, food, pharmaceutical and cosmetic industry. It is generally present in powder and oil form.

Paprika Extract: Market Dynamics

The paprika extract market is blooming considering various factors such as 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. Paprika extract market is also gaining the traction due to its flavoring and coloring properties, its anti-bacterial, anti-fungal, and anti-oxidant properties preferred by food, pharmaceutical and cosmetic industries for hair care and skin care products. The macro-economic factors such as economic growth, changing lifestyle along with rising disposable income favors the demand for paprika extract in the market.

The factors affecting the paprika extract market are its side effects on sensitive skin, or to infants. The color and flavor of the food containing paprika extract do not depend on the amount of paprika extract used. Thus it self-limits its use. The paprika extract is avoided in the products where N-nitroso compounds are formed as it has cancer causing effects. All the above factors hampers the paprika extract market

Paprika Extract: Segmentation

Based on product type, paprika market is segmented into

  • Vegetable paprika
  • Spice paprika
  • Colorant paprika
  • Paprika Oleoresin

Based on End-use Industries, paprika extract market is segmented into

  • Food Industry
  • Pharmaceutical Industry
  • Cosmetic Industry

Paprika Extract: Segment Overview

Attractive, colorful food products and dishes are the trends of food Industry. Thus manufacturers rely on the natural agents for coloring and flavoring of the food and other commercial products. By the product type, there are the variety of forms of paprika available in the market depending on its applications. Colorant, vegetable, spice and paprika oleoresin are the different types of paprika. Based on its end user industry, the paprika extract market is segmented into food, pharmaceutical, and cosmetic industry. For the food industry, the paprika extract is used in various dishes, products for color and flavor enhancement. It is used in pasta, sausages, meat products and also for household consumption. Considering its antibacterial and anti-oxidant benefits on the health, the paprika extract 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 extract is used extensively as a natural coloring agent food foods such as culinary, meat products, oil, and cheeses.

Paprika Extract: Regional Overview

The major market for the paprika extract is North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific excluding  Japan, Japan, and the Middle East and Africa. Due to improved production and processing technology, Asian countries such as China, India, are expected to have rapid pace in the paprika extract market. European and North American countries show significant growth in the market.

Paprika Extract: Market Players

Some of the paprika extract market players are

  • Chr. Hansen, EVESA,
  • 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,
  • Givaudan,
  • Ozone Naturals,
  • Universal Oleoresins,

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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