New Study from StrategyR Highlights a $642.3 Million Global Market for Paprika by 2026

SAN FRANCISCO, Sept. 21, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Paprika - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 5; Released: April 2021
Executive Pool: 1059
Companies: 52 - Players covered include Chr. Hansen Holding A/S; DDW The Color House; Kalsec Natural Ingredients; Plant Lipids; Synthite Industries Ltd.; Synthite Industries Ltd.; Ungerer & Company ; Unilever Food Solutions and Others.
Coverage: All major geographies and key segments
Segments: Product Type (Vegetable, Paprika Oleoresin, Spice Powder, Other Products); Application (Food, Pharmaceuticals, Cosmetics)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Paprika Market to Reach $642.3 Million by 2026
Amid the COVID-19 crisis, the global market for Paprika estimated at US$465.8 Million in the year 2020, is projected to reach a revised size of US$642.3 Million by 2026, growing at a CAGR of 5.5% over the analysis period. Vegetable, one of the segments analyzed in the report, is projected to record a 5.1% CAGR and reach US$285.8 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Paprika Oleoresin segment is readjusted to a revised 6.3% CAGR for the next 7-year period.

The U.S. Market is Estimated at $130.4 Million in 2021, While China is Forecast to Reach $134.4 Million by 2026
The Paprika market in the U.S. is estimated at US$130.4 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$134.4 Million by the year 2026 trailing a CAGR of 8.8% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.1% and 4.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR.

Spice Powder Segment to Reach US$107.8 Million by the year 2026
In the global Spice Powder segment, USA, Canada, Japan, China and Europe will drive the 5.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$59.3 Million in the year 2020 will reach a projected size of US$83.9 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More

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About Global Industry Analysts, Inc. & StrategyR^™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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