Global Paprika Market Is Projected To Surge At A CAGR Of Over 5.8% During 2020–2026

According to forecasters at Zion Market Research, the global paprika market size was capitalized at USD 458.11 million in 2019 and is estimated to grow at a CAGR of about 5.8% in the forecast period. Paprika is having excellent anti-aging, anti-inflammatory, antioxidant, and anti-depression properties. Paprika can also be helpful for cancer therapy; while oleoresin can be utilized in dysentery, nausea, and arthritis treatments. A number of applications include flavors, food & beverages, pharmaceuticals, and other segments. Other applications consist of sauces, confectionery, meat canning, perfumery, and as a base in different seasoning applications. Applications, like beverages, perfumery, and pharmaceuticals, have shown substantial growth in the last few years and this trend is estimated to persist in the coming few years.

Some of the major players in the market are Chr. Hansen Holding A/S, Synthite Industries Ltd., Plant Lipids, and Ungerer & Company Unilever Food Solutions. These companies aim at advancing their market share coupled with profitability by technological and product innovations.

Higher Demand For Product In Developing Countries To Boost The Global Paprika Market

The growth of the global paprika market is attributed to factors, like increasing disposable proceeds and high product demand from the emerging economies. Paprika chiefly consists of non-volatile resinous fractions and volatile essential oils containing the flavor of the spice. Regarding food and flavor formulation, paprika can be utilized as a promising substitute for whole ground spices without altering the flavor. This states that the product to be utilized in applications, like sauces, meat canning, bakery, and beverages. The high entry obstacles, due to the difficulty in listing and heavy capital investments, are projected to uphold intense competition amongst the obtainable manufacturers. The major aspect behind the development of the paprika market is rising demand for oils and spices in the food processing, augmenting awareness concerning the health benefits of the normal coloring agents over the artificial one, and amplifying demand in the ready to eat dishes and specialty food market.

The global paprika market is segmented based on type, end-user, and geography. Based on the type, the market is divided into spice paprika, paprika oleoresin, colorant paprika, vegetable paprika, and others. On the basis of end-user, the market is divided into pharmaceutical industry, food industry, and cosmetic industry.

The Europe Region Is Projected To Record The Major Share In The Global Paprika Market

Based on the geographical analysis, the global paprika market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Regionally, Europe holds the maximum share of paprika market and it is projected to rule the global paprika market in the forecasted period. Owing to the advanced processing and production technology, European nations like the U.K., Germany, France, and Italy are likely to have a fast pace in the paprika extract market. The Asia Pacific and North America regions reported major growth in the market.

Browse the full “Paprika Market - By Type (Spice Paprika, Vegetable Paprika, Paprika Oleoresin, Colorant Paprika, and Others), By End-User (Pharmaceutical Industry, Food Industry, and Cosmetic Industry), And By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026.” Report at https://www.zionmarketresearch.com/report/paprika-market

The global paprika market is segmented as follows:

By type:

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

By end-user:

• Food Industry
• Pharmaceutical Industry
• Cosmetic Industry

By region:

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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