The paprika market size is expected to reach USD 803.8 million by 2030, registering a CAGR of 5.8%.This is due to its growing adoption in the pharmaceutical and cosmetic industries

Acumen Research and Consulting recently published a report titled “Paprika Market and Regional Forecast, 2022-2030”.

BEIJING, Dec. 06, 2022 (GLOBE NEWSWIRE) — GLOBAL paprika market The size will account for USD 485.6 million in 2021 and is projected to account for a market size of USD 803.8 million by 2030, growing at a CAGR of 5.8% from 2022 to 2030.

paprika market statistics

• The global paprika market revenue will be worth USD 485.6 million in 2021, growing at a CAGR of 5.8% from 2022 to 2030.

• Europe Region Accounted for 34.8% of Paprika Market Share in 2021

• Asia-Pacific paprika market growth is projected to expand at a CAGR of 6.3% from 2022 to 2030

• By product, vegetables segment will capture over 39.1% of total market share in 2021

• Growing awareness of healthy eating habits boosts market value of paprika

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Paprika Market Coverage:

Paprika market overview

Paprika is used in a variety of food and beverage applications, including cheeses, freshly squeezed oranges, flavor mixes, sauces, flavoring ingredients in inexpensive dishes, processed foods, and desserts. They help provide a specific shady surface for nutrition. Paprika oleoresin is 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 context, it can help reduce pain, tension and stress.

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Paprika Market Trends

Growing awareness about the health benefits of paprika is projected to drive the market. The oleoresin segment drives global business, accounting for over 36% of his total industry in 2021. Hansen Holding A/S, Synthite, Ungerer and Company and Unilever Food Solutions offer a range of paprika products. Additionally, significant market participants are EVESA, Ingredients Naturales Seleccionados, and Kancor Ingredients Limited. The global demand for paprika is increasing due to the growing need for colorants mixed with traditional flavors.

Production around the world is also witnessing major changes in relation to consumption patterns, with recent culinary encounters being one of the key drivers of development. Zest powder is considered a functional food. Growing demand for colorants mixed with traditional flavors is driving the development of the global market. Paprika oleoresin is commonly used as a standard spice in the food sector, as well as a coating on cheese, meat products, popcorn oil, and cheese nutraceuticals. This preparation, which contains both jalapeños and bean stews, is produced by the soluble separation of dried capsicum units, 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 divided into vegetable, paprika oleoresin, spice powder, and others.

By application, the market is segmented into food, cosmetics, and pharmaceuticals. The paprika market forecast predicts that the food category will develop significantly in the coming years.

Regional Overview of the Paprika Market

Based on region, the global paprika market segmentation is divided into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America. According to paprika industry analysis, Europe is one of the most strategic geographical markets, followed by Asia Pacific and North America. The development of this district is fueled by strong demand for zest oil in combination with nourishing shading items. In addition, increasing consumer disposable income, changing lifestyles, and increasing demand for convenience foods are likely to contribute to the growth of the regional market. The rise of changing lifestyles, the disposable lifestyles of customers, and the growing desire to maintain comfort all contribute to the improvement of the product market in the region.

Demand is mostly met by imports from India, despite the fact that Spain is the region’s leading sign manufacturer. North America is expected to gain a large market share during the forecast period owing to rising demand for paprika, which is used in small amounts for flavor, taste and smell. As a result, a wide range of applications rely on it to drive regional market expansion. The rapidly expanding pharmaceutical and cosmetic business in the region is also expected to boost product demand throughout the forecast period.

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paprika market players

Prominent paprika market companies include Plant Lipids, Unilever Food Solutions, Ungerer & Company, Synthite Industries Ltd., Chr. Hansen Holding A/S

Questions answered in this report

• What will be the market size of the paprika market in 2021?

• What will be the CAGR of the Paprika market during the forecast period from 2022 to 2030?

• Who Are the Key Players in the Global Paprika Market?

• Which region will account for the largest share of the paprika market in 2021?

• What are the key market drivers of the paprika market?

• Who are the largest end users of the paprika market?

• What is the market value of paprika in 2030?

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