Paprika Market Size is expected to reach at USD 803.8 Million by 2030, registering a CAGR of 5.8%, Owing to Growing Adoption in Pharma and Cosmetic Industries
Acumen Research and Consulting recently published report titled “Paprika Market and Region Forecast, 2022 – 2030”
BEIJING, Dec. 06, 2022 (GLOBE NEWSWIRE) — The Global Paprika Market Size accounted for USD 485.6 Million in 2021 and is projected to occupy a market size of USD 803.8 Million by 2030 growing at a CAGR of 5.8% from 2022 to 2030.
Paprika Market Statistics
- Global paprika market revenue was worth USD 485.6 million in 2021, with a 5.8% CAGR from 2022 to 2030
- Europe region was accounted 34.8% of paprika market share in 2021
- Asia-Pacific paprika market growth is expected to expand at a CAGR of 6.3% from 2022 to 2030
- By product, vegetable segment capture over 39.1% of total market share in 2021
- Growing awareness about healthy eating habits, drives the paprika market value
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Paprika Market Coverage:
| Market | Paprika Market | |
| Paprika Market Size 2021 | USD 485.6 Million | |
| Paprika Market Forecast 2030 | USD 803.8 Million | |
| Paprika Market CAGR During 2022 – 2030 | 5.8% | |
| Paprika Market Analysis Period | 2018 – 2030 | |
| Paprika Market Base Year | 2021 | |
| Paprika Market Forecast Data | 2022 – 2030 | |
| Segments Covered | By Product, By Application, And By Geography | |
| Paprika Market Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa | |
| Key Companies Profiled | Plant Lipids, Synthite Industries Ltd., Ungerer & Company Unilever Food Solutions, and Chr. Hansen Holding A/S. | |
| Report Coverage | Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis | |
Paprika Market Overview
Paprika is used in a variety of food and beverage applications, including cheese, squeezed oranges, flavor mixes, sauces, flavoring ingredients in cheap cuisine, emulsified processed foods, and desserts. They aid in providing a specific shade surface for nourishment goods. Paprika oleoresins are widely used as a flavor enhancer in meat products, popcorn oil, cheese, and cheddar food coatings. Paprika is also widely used in the pharmaceutical industry. When used in the right situations, they can help reduce pain, tension, and stress. Paprika also has medicinal benefits, for example, pain relief, relaxation, and anti-fatigue effects, and it can be used in anti-cancer therapy.
Paprika Market Trends
Rising awareness about the health benefits of paprika is predicted to propel the market. The oleoresin segment propelled the global business, accounting for more than 36% of the whole industry in 2021. Several major companies, including Chr. Hansen Holding A/S, Synthite, Ungerer and Company, as well as Unilever Food Solutions, provide a variety of paprika products. Additionally, significant market participants are EVESA, Ingredients Naturales Seleccionados, as well as Kancor Ingredients Limited. The growing need for colorants mixed with traditional flavors has increased the global demand for paprika.
Worldwide production has also witnessed a massive shift in conjunction with consumption patterns, with more recent culinary encounters being one of the key development drivers. Zest powders are considered a functional food. Rising demand for colorants mixed with traditional flavors has propelled global market development. Paprika oleoresins are commonly used as a standard spice in the food sector, as well as in cheese, meat products, popcorn oil, as well as cheese sustenance coatings. This preparation, which contains both jalapeño and bean stew, is produced through the dissolvable separation of dried capsicum units, which is then followed by solvent removal.
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Paprika Market Segmentation
The global paprika market has been segmented by Acumen Research and Consulting based on product, and application. By product, the segment is separated into vegetable, paprika oleoresin, spice powder, and others.
In terms of application, the market is categorized into food, cosmetics, and pharmaceuticals. According to the paprika market forecast, the food category is predicted to develop significantly in the next years.
Paprika Market Regional Overview
Based on the region, the worldwide paprika market segmentation is into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America. According to a paprika industry analysis, Europe is one of the most strategic geographical markets, followed by Asia Pacific and North America. The district’s development is being aided by a strong demand for zest oils combined with sustenance shading items. Furthermore, rising consumer disposable income, changing lifestyles, and rising demand for convenience foods are likely to contribute to regional market growth. Rising shifting lifestyles, client disposable livelihoods, and expanding desire for comfort sustenance are all contributing to the region’s product market improvement.
Despite the fact that Spain is the region’s sign manufacturer, the majority of the demand is met by imports from India. North America is expected to have a significant market share over the forecast period due to rising demand for paprika, which is used in small amounts in flavoring, tastes, and smells. As a result, a broad range of applications is relied on to fuel regional market expansion. Rapidly expanding pharmaceutical and cosmetics businesses in the area are also expected to boost product demand throughout the forecast period.
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Paprika Market Players
Some of the prominent paprika market companies are Plant Lipids, Unilever Food Solutions, Ungerer & Company, Synthite Industries Ltd., and Chr. Hansen Holding A/S
Questions Answered By This Report
- What was the market size of Paprika Market in 2021?
- What will be the CAGR of Paprika Market during the forecast period from 2022 to 2030?
- Who are the major players in Global Paprika Market?
- Which region held the largest share Paprika Market in 2021?
- What are the key market drivers Paprika Market?
- Who is the largest end user Paprika Market?
- What will be the Paprika Market value in 2030?
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