Paprika oleoresin is a natural food colorant used to obtain a deep red colour in any food that has a liquid/fat phase. The oleoresin is slightly viscous, homogenous red liquid with good flow properties at room temperature. Among the various market types of chilli, paprika type is being presently grown in very limited scale in restricted areas in India
The global chilli oleoresin market is expected to reach USD 695.1 million by 2024.
India controls 60% of the 13,500-tonne global spice oleoresins market even as China has emerged as a strong contender in paprika oleoresin, the most in-demand spice oil. As a whole any entrepreneur can venture in this project without risk and earn profit.
Few Indian major players are as under
· A V T Natural Products Ltd.
· Akay Flavours & Aromatics Pvt. Ltd.
· Ashian Herbex Ltd.
· Biomax Life Sciences Ltd.
· Enjayes Spices & Chemical Oils Ltd.
· Indian Chillies Trdg. Co. Ltd.