As per the latest Future Market Insights (FMI) analysis, paprika color sales will increase at 7% CAGR between 2021 and 2031. Steered by increasing demand from food processing and breading industries, overall demand in the paprika color market will top US$ 151.5 Mn by 2031.
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Background hues and vivid tones of bread crumbs are often achieved using coloring ingredients such as paprika, spice extracts, and artificial colors. Paprika or oleoresin paprika, had red or orange notes, which can be used as batter and breading color. These factors are expected to drive paprika color sales over the forecast period, from 2021 to 2031.
Key Takeaways from the Paprika Color Study:
- The EMEAI (Europe Middle East Africa and India) is key in market in terms of size and is expected to account for 39.3 % of the global paprika color market in 2021.
- On the basis of application meat, poultry, fish, & eggs section is expected to hold for 23.8% of the global paprika color market in 2021 and expected to grow at compound annual growth of 12.2%, followed by Potatoes, Pasta, & Rice.
- The U.S. is expected to account for over 85% of paprika color sales in North America in 2021. Irrespective of United States’ dominance, demand in Mexico and Canada is expected to rise at a higher pace.
- Germany is expected to account for 18.5% of paprika color sales in EMEAI through 2031.
- China will continue dominating sales in APAC, however, demand for paprika color is expected to increase at a higher pace in South Korea.
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“Increasing use of paprika color in meat processing and a plethora of beverages such as juices and drinks are likely to boost sales of paprika color. Besides this, the market is expected to gain from increasing use of paprika color in hair care and personal,” Said a lead analyst at FMI
Various End Uses in Food Processing to Boost Market
The paprika color market is flourishing on account of increasing application in the food processing industry, rising awareness about health advantages of natural coloring agents over the substitute one, and growing demand within the specialty foodstuff and prepared to eat dishes.
Paprika color market is additionally gaining on account of nutritional profile of paprika that includes impressive anti-bacterial, anti-fungal, and anti-oxidant properties. This has fuelled its application in food, pharmaceutical and cosmetic industries. Within skincare and cosmetics industry, paprika color is used in a slew of hair care and skin care merchandise.
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Who is Winning?
Some of the leading companies offering paprika color are Blue Lily Organics, Natural Solution, ColorMaker Inc., Bioconcolors, Chr. Hansen Holding A/S, Synthite Industries Ltd., Plant Lipids, Ungerer & Company Unilever Food Solution, Chr. Hansen A/S, Sensient Technologies Corporation, Ingredients Naturales Seleccionados, Kalsec Natural Ingredients, Kancor Ingredients Limited, Naturex, Adani Pharmachem Private Limited, Givaudan, Ozone Naturals, Universal Oleoresins and others.