USD 485.6 million
Paprika Market Size, Share, Growth Analysis, By Type(Vegetable paprika, spice paprika, colorant paprika, paprika oleoresin), By Application(Food industry, pharmaceutical industry, cosmetic industry), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15A2358 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
64
|Figures:
75
Paprika Market Insights
Paprika Market size was valued at USD 485.6 million in 2019 and is poised to grow from USD 513.34 million in 2023 to USD 803.8 million by 2031, growing at a CAGR of 5.8% in the forecast period (2024-2031).
Paprika is a spice made from grown-up, different varieties of Capsicum annum peppers. These can include sweet bell peppers, hot red peppers, and other varieties in between.
It is the fourth most-used spice around the world. Paprika has excellent anti-inflammatory, anti-aging, antioxidant properties, and anti-depression. It can also be useful in the treatment of cancer, while oleoresin can be used in nausea, dysentery, and arthritis treatments.
It is extensively used in oil and powder forms and is a known to have rich source of carotenoids, antioxidants, natural lipids, and essential vitamins & minerals that help in the formation of new red blood cells (RBCs).
It is widely used in food and beverages, such as spice blends, rubs, sauces, marinades, stews, pasta and sausages, cosmetics, and pharmaceutical products.
It is also rich in capsaicinoids used for improving cardiovascular and gastrointestinal health. Additionally, the launch of natural paprika powder, which is produced using organic ingredients, is favouring the market growth. Other factors include rising expenditure capacities of the consumers.
US Paprika Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Fastest Growth
vegetable paprika
Growth Rate
5.8% CAGR
Global Paprika Market ($ Bn)
Country Share for Europe (%)
Global Paprika Market
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Paprika Market Segmental Analysis
Paprika Market is segmented on the basis of type, application, and region. By type, the Paprika Market is segmented into vegetable paprika, spice paprika, colorant paprika, and paprika oleoresin. By application, the Paprika Market is segmented into food, pharmaceutical, and cosmetic industry. By region, the Paprika Market is segmented into North America, Europe, Asia Pacific, Latin America, and MEA.
Paprika Market Analysis by Type
Increasing demand for certified organic paprika oleoresin is contributing to the growth of paprika oleoresin segment over the forecast period. Consumers today expect transparency and accountability of the goods, including details about the ingredients resent in food products.
Rising consumer awareness of positive impact of consuming products that include natural plant-derived extracts is expected to help expand the market size of botanical extracts over the forecast period without compromising on flavour and taste.
Global Paprika Market BY Type
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Paprika Market Regional Insights
Europe held the largest global paprika market share in 2021. Due to improved production and processing technology, European countries such as the U.K., France, Germany, and Italy are expected to have a rapid pace in the paprika extract market.
North America will show significant growth in the market. The region's expansion is being fuelled by strong demand for spice oils and food coloring products. Rising consumer disposable income, changing lifestyles, and rising demand for convenience foods are all expected to help to the region's market development.
North America is expected to account for a considerable market share throughout the projection period. A diverse set of applications is likely to drive regional market expansion. The region's rapidly developing pharmaceutical, and cosmetics industries are expected to boost product demand.
High entry barriers, owing to the difficulty of registering and large capital commitments, are likely to keep existing producers in fierce competition.
Asia Pacific will occupy large market shares as India imports the majority of the need because of rising demand for paprika, which is used in small amounts in seasoning, tastes, and Perfumes.
Rising consumer disposable incomes, changing lifestyles, and rising demand for convenience meals are all factors contributing to the region's product market growth.
Global Paprika Market By Region
- Largest
- Fastest
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Paprika Market Dynamics
Paprika Market Driver
Increasing Popularity of Ethnic Food Cuisines will Augment Demand for Paprika in Global Market
- Increasing demand for spices and oils in the food processing procedure is leading to rising awareness about the health benefits of the natural colouring agents over the artificial one. Growing demand in the specialty food market and ready to eat dishes are propelling the growth of paprika market. The macro-economic factors such as economic growth, changing lifestyle along with rising disposable income favours the demand for paprika in the market. The rise in demand for paprika across various applications such as pharmaceutical, cosmetic, and food for skin and hair care products due to its antioxidant, anti-bacterial, anti-fungal, colourings, and flavourings properties are key factors driving market growth. There is also an increase in demand in food processing as well as an increase in awareness for natural colorants that offer a variety of benefits.
Paprika Market Restraint
Restrictions in International Export and Import Policies might Hinder Market Growth
- The global paprika market might face certain restrains during the forecast period. High costs and unfriendly export & import policies might restrict the distribution of the product across the globe. Players in the market might face challenges in regards of cheaper alternatives and product availability.
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Paprika Market Competitive Landscape
The market's major players are based in the United States and India. Through product and technological improvements, these companies aim to increase their market share and profitability. The market is expecting entrance of new players in regional and global level. Investing in collaborations, mergers, and acquisitions might provide them with an edge over their competitors.
Paprika Market Top Player’s Company Profiles
- Synthite Industries Ltd
- Olam International Limited
- The Kraft Heinz Company
- McCormick & Company, Incorporated
- Everest Spices
- Baria Pepper
- Univar Solutions Inc.
- ADF Foods Ltd.
- Visimex JSC
- Paprika Oleo's India Limited
- HORGOS LUHU SPICE CO., LTD.
- BIO-PAPRIKA Kft.
- NATURAL SPICES GmbH
- BATA FOOD
- Ungerer Limited
- HalleysBlue
- Jiaozuo Hengrun Food Co., Ltd.
- Guangzhou Fung Yue Hang Trading Co., Ltd.
- Batory Foods
- Frontier Co-op.
Paprika Market Recent Developments
- In February 2022, Paprika Gourmet, an artisanal delivery and catering company based in Kolkata, is getting ready to expand its reach into global markets by offering global cuisines. After a successful stint in Dubai, United Arab Emirates, the brand is extending its catering services to include offerings from Peru, Korea, Mexico, and Asia. The company has one cloud kitchen in Dubai in addition to Kolkata.
Paprika Key Market Trends
Holistic Benefits of Consuming Paprika will Steer Market Growth
- Paprika possesses unique anti-depression, anti-inflammatory, antioxidant, and anti-aging properties and this will steer the market trends. It is also utilized in treating cancer, arthritis, dysentery, and nausea. These features will provide added advantage to the market. Changing food habits and life patterns along with massive demand for spicy flavors will increase the utility of the product within the span of the next few years. Furthermore, growing consciousness about natural coloring agents providing numerous health advantages to consumers will result in market growth in coming years.
Paprika Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global paprika market analysis, various companies are focusing on organic growth strategies such as product launches, product approvals, and patents & events. These activities have paved the way for the expansion of business and the customer base of market players. Increasing consumer conciousness of the benefits of ingesting products containing natural plant-derived extracts is likely to aid the market size of paprika during the forecast period without jeopardizing flavor and taste.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 485.6 million |
| Market size value in 2031 | USD 803.8 million |
| Growth Rate | 5.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Paprika Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Paprika Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Paprika Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Paprika Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Paprika Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Paprika Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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