The paprika color market is predicted to be worth US$ 86 million in 2023 and rise to US$ 251.2 million by 2033. Demand for paprika color is expected to expand at an 11% CAGR by 2033.
The demand for paprika color, a common seasoning in vegan and vegetarian cuisine, is being driven by the growing number of vegan and vegetarian customers. Paprika is used to flavor many sauces, stews, and vegetable dishes. To provide a smokey and savory flavor to vegetarian foods, it is also used as a meat alternative.
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New items including sauces, marinades, and dressings are being created using paprika as a result of improvements in the culinary world. The desire for natural and organic food items is driving growth in the paprika color industry.
Popularity of paprika color is attributed to the demand for natural food coloring, especially in the meat sector. Applications including drinks, medicines, and perfumes have shown significant growth recently, and this trend is expected to continue during the forecast period.
Key Takeaways
- By 2033, the paprika color market in the United Kingdom is likely to expand, with a CAGR of 9.9%.
- In 2022, the United States accounted for a share of 32% in the paprika color sector.
- The paprika color market was significantly expanding, with a size of US$ 82.3 million in 2022.
- By 2033, the paprika color market in China is likely to expand, with a CAGR of 5.6%.
- In 2022, Germany expanded significantly in the paprika color business, with an expected share of 12.4%.
- By 2033, India is projected to expand significantly in the paprika color market, with a share of 6.9%.
- In 2022, Australia developed significantly in the paprika color business, with an expected share of 0.9%.
- Japan’s paprika color industry share developed significantly, with a 1.2% share in 2022.
- In 2022, the conventional segment led the market with a significant share of 76%, and is likely to hold a top spot in the market, in terms of nature.
- Based on the application, the beverage segment market dominated the industry in 2022, with a share of 32%.
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Competitors Winning Strategies
Paprika color is a staple in many international cuisines and is essential for giving food flavor. Due to rising paprika color demand in the food sector, the worldwide paprika color market has seen substantial growth in recent years.
By putting numerous methods into practice, such as creating strategic alliances with local players, they are also concentrating on the best possible business growth.
Due to the outstanding expansion potential brought on by the rising product demand in different regions, most of them have established their distribution networks in developing nations in Central and South America and Asia.
Recent Developments
- Two new EXBERRY coloring foods were introduced by GNT Group in May 2020. These products produce vibrant orange hues in powder and oil-dispersible versions. The brand-new vivid orange goods, which are paprika and carrot, offer options for a variety of uses.
- Kancor Ingredients Ltd. caused a stir in the paprika business with its most recent announcement in 2021—the launch of a new variety of paprika oleoresins made from premium Indian paprika. Due to its expertise and standing in the industry, Kancor is well-positioned to disrupt the market.
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Key Segments
By Nature:
- Organic
- Conventional
By Application:
- Beverage
- Milk Drinks & Milk Alternatives
- Alcoholic Beverages
- Carbonates (Carbonated Soft Drinks)
- Sports Drinks
- Coffee & Cocoa
- Tea
- Energy Drink
- Juice Based Drinks
- Flavored water
- Enhanced Water
- Sparkling Waters
- Bakery, Snacks, & Cereal
- Breakfast Cereal
- Bread
- Cakes & Pastries
- Cookies
- Biscuits & Cones
- Frosting / Icing
- Crackers & Savoury Snacks
- Candy / Confectionery
- Panned Candy
- Chocolate & Compound Coating
- Gummies
- Chewing Gum
- Jellies & Licorice
- Sprinkles & Sugar
- Hard Candies / Boiled Sweets
- Dairy
- Cheese
- Ice Cream
- Milk Drinks & Milk Alternatives
- Pudding / Custard
- Dips & Spreads
- Yogurt
- Fruit Preparations / Fillings
- Meat, Poultry, Fish, & Eggs
- Casings
- Egg & Egg Substitute
- Fish / Seafood
- Jerky
- Meat Substitute
- Processed Meat & Poultry
- Potatoes, Pasta, & Rice
- Pasta
- Potato Chips / Crisps
- Processed Potatoes
- Rice
- Sauces, Soups, & Dressings
- Asian Sauces
- Barbecue & Steak Sauce
- Condiments
- Gravy / Dry Sauce Mix
- Marinade
- Oils & Dressings
- Seasonings
- Batter
- Breading and Coating
- Bouillon / Soup Base / Stock
- Liquid Smoke
- Spice Blends / Dry Seasonings
- Pet Food
- Extruded / Dry Pet Food
- Snacks / Treats
- Wet Food
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