Spice oils and oleoresins are concentrated compounds in the liquid form obtained by the solvent extraction of the ground spices. This compound has similar character and property of the spice it is derived from. It contains volatile as well as non-volatile part of the spices. It is used as a substitute for whole or ground spices without impairing flavor and aroma. Spice oils and oleoresins are consumed by a broad range of manufacturers such as beverage, confectionery, curry powder, soups, etc. Most of these end-use industries are rapidly growing due to an increased demand for food and bound to produce quality products. The use of spices is rapidly replaced by spice oils and oleoresins and export of this product instead of raw spices is attributing value addition for the market.
Spice oils and oleoresins market is segmented on the basis of product type, application, and distribution channels. On the basis of product type, spice oils and oleoresins market is segmented into black pepper, cardamom, capsicum, turmeric, cinnamon and others. Among all the segments, black pepper segment accounts for the major share and is expected to register a significant growth during the forecast period. Black pepper oil is widely used as a seasoning agent and colorants and demand for black pepper extract is rapidly growing in order to cater to demand from food processing companies.