Paprika Market Size - Global Industry, Share, Analysis, Trends and Forecast 2022 - 2030

The Global Paprika Market Size accounted for USD 485.6 Million in 2021 and is projected to occupy a market size of USD 803.8 Million by 2030 growing at a CAGR of 5.8% from 2022 to 2030.

Paprika is a bright red ground spice made from peppers in the Capsicum annuum family. Paprika is also thought to have some health benefits, though these can vary depending on the pepper used to make the spice. Consuming paprika helps to prevent hyperacidity. Furthermore, because it has a sweet taste, it enables to reduce the chances of acid regurgitation.

Paprika Market Report Statistics

• Global paprika market revenue is projected to reach USD 803.8 million by 2030 with a CAGR of 5.8% from 2022 to 2030
• According to the American Cancer Society statistics, over 1.9 million cancer cases were diagnosed in 2021 in the U.S.
• As per World Health Organization (WHO) data, worldwide over 1.9 billion adults were overweight, out of these 650 million were obese in 2016
• Europe paprika market share generated over 35% shares in 2021
• Asia-Pacific paprika market growth will record noteworthy CAGR of over 6% from 2022 to 2030
• Based on product, vegetable recorded 39% of the overall market share in 2021
• Among application, food sub-segment accounted for USD 233 million in 2021
• Rapidly growing food & beverage industry is a popular paprika market trend that fuels the industry demand

Global Paprika Market Dynamics

Market Drivers

• Increasing prevalence of cancer around the world
• Rising obesity cases among adults
• Growing awareness about healthy eating habits

Market Restraints

• Adverse effects of paprika on sensitive skin
• Lack of awareness among emerging nations

Market Opportunities

• Growing adoption in pharma and cosmetic industries
• Surging research & development activities

Paprika Market Report Coverage

Paprika Market Growth Factors

Rising mindfulness with respect to the medical advantages of paprika is relied upon to drive the market. The oleoresin segment drove the worldwide business and comprised over 36% of the complete piece of the overall industry in 2018. A segment of the main organizations, for example, Ungerer and Company, Synthite, Chr. Hansen Holding A/S, and Unilever Food Solutions, offer a wide scope of paprika. Other crucial market players incorporate Ingredients Naturales Seleccionados, EVESA and Kancor Ingredients Limited. Rising need for colorants combined with normal flavors has moved the demand for paprika over the world.

Vegetablere utilized in F&B applications, for example, squeezed orange, cheeze, flavor blends, sauces, flavoring material in cheap food, emulsified process meats, and desserts. They help in giving a particular shading surface to nourishment items. Paprika oleoresins are broadly utilized as characteristic enhancing in meat items, cheese, popcorn oil, and cheddar sustenance coatings. Paprika likewise finds wide applications in pharmaceuticals division. They help diminish agony, tension, and stress when utilized in appropriate fixations. Paprika additionally has characteristic properties, for example, pain relieving, calming, and hostile to heftiness properties and can likewise be utilized in anti-cancer treatments.

Paprika Market Insights

Paprika has various features such as anti-aging, anti-inflammatory, anti-depression, and antioxidant properties. Paprika Oleoresinan likewise be valuable in the treatment of malignant growth; while oleoresin can be utilized in sickness, dysentery, and arthritis treatments. Significant applications incorporate food & beverages, flavors, pharmaceuticals, and others. Different applications incorporate meat canning, sauces, candy parlor, perfumery, and as a base in different flavoring applications. Applications, for example, perfumery, drinks, and pharmaceuticals, have seen a significant development in the ongoing past and this pattern is anticipated to proceed sooner rather than later.

This development can be ascribed to factors, for example, increasing disposable income and high product demand in the emerging nations. Paprika fundamentally comprises of volatile essential oils and non-volatile resinous fractions parts containing the kind of the flavor. Regarding flavor and sustenance plan, paprika can be utilized as potential substitute for entire ground flavors without changing the flavor. This makes ready for the product to be utilized in applications, for example, meat canning, sauces, refreshments, and pastry shop. The market is portrayed by vertical incorporation over every segment of the value chain.

Paprika Market Segmentation

The global paprika market is segmented based on product, application, and geography.

Paprika Market By Product

• Vegetable
• Spice Powder
• Paprika Oleoresin
• Others

According to our paprika industry analysis, the vegetable sub-segment held more than 39% of the market share in 2021 and is predicted to continue this trend in the coming years. The inclusion of vegetable paprika in creams and plasters is expected to increase product demand in the coming years. In terms of growth, spice powder demand is expected to grow rapidly during the forecast period, owing to rising income levels and changing food experiences, demographics, social factors, and consumption patterns.

Paprika Market By Application

• Food
• Pharmaceuticals
• Cosmetics

According to our paprika market forecast, food application is likely to hold maximum share from 2022 to 2030. In the food industry, paprika is used to add color and flavor to a variety of dishes and products. It is used in sausages, pasta, and meat products, as well as in everyday cooking. They have a high degree of stability, making them suitable for use in foods that are fried or cooked at high temperatures. In addition to that, paprika products are also widely used in pharmaceuticals. When used correctly, they can help reduce pain, anxiety, and stress.

Paprika Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

The Middle East & Africa

• South Africa
• GCC Countries
• Rest of the Middle East & Africa (ME&A)

Paprika Market Regional Analysis

Europe is considered as one of the main regional markets pursued by Asia-Pacific and North America. Strong demand for zest oils combined with sustenance shading products is the key factor boosting the district's development. Moreover, ascend in consumer disposable income, evolving ways of life, and expanding demand for convenience foods are probably going to adding to the market advancement in the region. Rising changing lifestyles, customer dispensable livelihoods, and expanding demand for comfort sustenance are adding to the improvement of the product market in the region.

In spite of the fact that Spain is the significant maker in the region, the majority of the need is satisfied by imports from India. North America is anticipated to represent a critical market share over the gauge time frame because of heightening need for paprika that are utilized in flavoring, flavors, and scents small amounts. Subsequently, wide scope of uses is relied upon to fuel the territorial market development. Quickly growing pharmaceuticals and makeup enterprises in the district are likewise assessed to goad the product demand during the estimate period.

Paprika Market Players

Plant Lipids, Synthite Industries Ltd., Ungerer & Company, Unilever Food Solutions, and Chr. Hansen Holding A/S are significant companies operating in the worldwide paprika market.