Capsaicin Market Trends

  • Report ID: 3575
  • Published Date: Jul 24, 2024
  • Report Format: PDF, PPT

Capsaicin Market Trends

Growth Drivers

  • Increasing Demand for Capsaicin-Spiced Products Worldwide – Capsaicin is widely used in food products to add flavor and coloring agents to the food. Additionally, the demand for capsaicin-spiced food is expected to drive the growth of the capsaicin market in the forecast period. Chili pepper production is steadily increasing globally. According to the United Nations Food and Agriculture Organization (FAO), global pepper production in 2019 reached 38.9 million tonnes. 
  • Growing Prevalence of Musculoskeletal Disorders – The increasing presence of musculoskeletal disorders is estimated to drive the growth of the capsaicin market in the forecast period. This can be ascribed owing to the wide application of capsaicin in treating patients with this disorder. Musculoskeletal disorders are one of the most common health problems worldwide. According to the World Health Organization (WHO), up to 30% of the population in developed countries is affected by musculoskeletal disorders, with back pain being the most common condition.  
  • Prevalence of Chronic Pain – One of the most significant applications of capsaicin is that it is used in the pharmaceutical industry in the production of pain-relieving medicines owing to its pain-relieving, analgesic, and anti-inflammatory properties. Therefore, the growing prevalence of chronic pain is expected to drive the growth of the capsaicin market in the upcoming years. The Centers for Disease Control and Prevention (CDC) reports that an estimated 20.4% of U.S. adults suffer from chronic pain in 2019, and 7.4% have chronic pain that limits their activities in life and work. 
  • Rising Cosmetic Industry - Capsaicin has been found to have anti-aging properties owing to its ability to stimulate collagen production and increase blood flow to the skin. Moreover, capsaicin has also been found to promote hair growth by increasing blood flow to the scalp and stimulating the hair follicles.  A survey found that 41% of US consumers are interested in trying hair care products with natural ingredients, and 35% are interested in trying products containing stimulating ingredients like capsaicin.

Challenges

  • Limited Supply of Capsaicin - Capsaicin is primarily derived from chili peppers, and the supply of high-quality chili peppers is limited. Therefore, this factor might pose restrictions on the growth of this market in the upcoming years.
  • Strict Rules & Regulations Associated with Capsaicin
  • Acute Health Effects of Capsaicin

Capsaicin Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

5.4%

Base Year Market Size

USD 8.43 Million

Forecast Year Market Size

USD 16.71 Million

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)

Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Author Credits:  Radhika Pawar


  • Report ID: 3575
  • Published Date: Jul 24, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of capsaicin is evaluated at USD 8.84 Million.

The capsaicin market size was over USD 8.43 Million in 2023 and is set to exceed USD 16.71 Million by the end of 2036, witnessing over 5.4% CAGR during the forecast period i.e., between 2024-2036. The increasing demand for capsaicin-spiced products worldwide and the growing prevalence of musculoskeletal disorders are a few of the important factors responsible for the growth of this market.

North America is estimated to grab the largest industry share by 2036, attributed to increasing number of fast-food chains and the growing consumption of exotic foods in the region.

Chenguang Biotech Group, Lonza Group, Bayer AG, Alchem International Pvt. Ltd., The Dow Chemical Company, Shanghai Danfan Network Science&Technology Co., Ltd., Nufarm Canada, Valent BioSciences LLC, Kancor Ingredients Limited, BASF SE
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