The paprika extract market has experienced a significant growth, and is expected to grow considerably in next few years. Paprika extract, known as Capsicum annuum L by its botanical name, is the extract of the genus Capsicum fruit. Capsicum is widely consumed all around the world as a vegetable, spice or color. It is used as the spice and as a natural food coloring and flavoring agent. Paprika oleoresin is the oil obtained from the paprika powder. The paprika extract is responsible for the range of orange to red color in commercial products. It has little or no pungency, unlike paprika oleoresin. Paprika extract constitutes carotenoid pigments, capsaicinoids, added or extracted vegetable oil and natural lipids. The paprika extract is mainly used in household consumption, food, pharmaceutical, and cosmetic industry. It is generally available in powder and oil form.
COVID-19 Impact Analysis
- The consumers shifting toward being health conscious and look for good & healthier foods with nutrients, and paprika extract accounts for one of them. So, the increase in the demand during COVID-19 can be witnessed.
- In the short term, the market demand is anticipated to show superior growth due to the increase in infections and reduced economic activity.
- However, the fact cannot be ignored that the spread of COVID-19 led to lockdowns & supply chain disruptions and created problems in supply of the products.
Top Impacting Factors
The paprika extract market is blooming considering various factors such as increasing demand for spices and oils in the food processing, rising awareness about the health benefits of the natural coloring agents over the artificial one, and growing demand in the specialty food market and ready to eat dishes. Paprika extract market is also gaining the traction due to its flavoring and coloring properties, its anti-bacterial, anti-fungal, and anti-oxidant properties preferred by food, pharmaceutical and cosmetic industries for hair care and skin care products.
The macro-economic factors such as economic growth, changing lifestyle along with rising disposable income favors the demand for paprika extract in the market.
The factors affecting the paprika extract market are its side effects on sensitive skin, or to infants. The color and flavor of the food containing paprika extract do not depend on the amount of paprika extract used. Thus, it self-limits its use. The paprika extract is avoided in the products where N-nitroso compounds are formed as it has cancer causing effects.
Market Trends
- The launches of new products that contain improved capabilities have been launched by leading market players. They have taken necessary steps to improve accuracy of devices and overall functionality as well. Ametherm launched a series of inrush current limiting NTC thermistors that are able to withstand input energy of 1.2 kJ and the steady state currents of 50.0 to 80.0A at 680V. They are offered in the DIN-rail-mountable packages.
- This series of thermistors are designed for power distribution in the industrial and green energy applications such as wind turbines, transformers, and three-phase motors. Moreover, these thermistors offer cost and power saving benefits. It is a one-component alternative component to power resistors with MOSFETs and relays. For providing ease in installation, these devices are designed in such a way that it can be installed with a DIN block.
Surge in Usage in Automotive and Industrial Applications
- Manufacturers are focused on producing new products for specific applications as there are varying demands based on the utilization. Leading market players have determined how improved accuracy can be influential in many applications. Texas Instruments (TI) launched linear thermistors that have the capability of delivering higher accuracy when compared to negative temperature coefficient (NTC) thermistors. This enhanced accuracy enables operation that can be carried out close to the thermal limits of the overall system.
- The implementation of this device in the system would optimize performance along with lowering down the bill of materials and total cost of solutions. In addition, these linear thermistors would offer highly accurate and reliable thermal measurements at the temperature range above 80°C. This proves crucial in automotive, industrial, and consumer goods applications. As in these applications, precise and real-time temperature readings prove to be important factors for system protection and efficient performance.
Key Benefits of the Report
- This study presents the analytical depiction of the paprika extract industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the paprika extract market share.
- The current market is quantitatively analyzed to highlight the paprika extract market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed paprika extract market analysis based on competitive intensity and how the competition will take shape in coming years
Questions Answered in the Paprika Extract Research Report
- Which are the leading players active in the paprika extract market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- What is “paprika extract " market prediction in the future?
- Which will be the niches at which players profiling with recent advancements should set a presence?
- What are the driving factors and opportunities in the market?
- What are the current trends and predicted trends?
- What are the challenges faced in the " paprika extract " market?
Paprika Extract Market Report Highlights
| Aspects | Details |
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 Key Market Players | Universal Oleoresins, Givaudan, Kancor Ingredients Limited, Kalsec Natural Ingredients, Plant Lipids and Naturex, Ozone Naturals, Plant Lipids, Chr. Hansen, Adani Pharmachem Private Limited, EVESA, Synthite Industries Ltd, Ingredients Naturales Seleccionados |
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