Global Oleoresins Market Size, Share & Demand Report By Product Type (Paprika Oleoresins, Capsicum Oleoresins, Turmeric Oleoresins, Seed Spice Oleoresins, Ginger Oleoresins, Cinnamon & Cassia Oleoresins, Herb Oleoresins), By Form (Oil-Soluble, Water-Soluble, Encapsulated & Powdered), By Application (Food & Beverages, Pharmaceuticals & Nutraceuticals, Cosmetics & Personal Care, Fragrances, Animal Feed), By Region & Segment Forecasts, 2026–2031

Report Code: RI2302PUB
Last Updated : February, 2026
Author : Hannah Blake

Table of Contents

  1. Executive Summary
    1. Introduction
  2. Market Introduction
    1. Market Definition
    2. Scope of the Study
    3. Market Structure
  3. Research Methodology
    1. Primary Research
    2. Research Methodology
    3. Assumptions & Exclusions
    4. Secondary Data Sources
  4. Market Factor Analysis
    1. Value Chain Analysis: Oleoresins Market
    2. Porters Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Dynamics
    1. Drivers
    2. Restraints
    3. Opportunities
  6. Recent Trends Analysis
  7. Impact of COVID-19 on Oleoresins Market
    1. Pre and Post Covid -19 Market Scenario Analysis
    2. Market Recovery Timeline and Challenge
    3. Measures Taken by Top Players
  8. Regulatory Landscape
  9. Oleoresins Market, By Product Type
    1. Introduction
      1. Market Size and Forecast, By Product Type
    2. Paprika Oleoresins
      1. Market Size and Forecast, By Region
    3. Capsicum Oleoresins
      1. Market Size and Forecast, By Region
    4. Turmeric Oleoresins
      1. Market Size and Forecast, By Region
    5. Seed Spice Oleoresins (Black Pepper, Cumin, Coriander)
      1. Market Size and Forecast, By Region
    6. Ginger Oleoresins
      1. Market Size and Forecast, By Region
    7. Cinnamon & Cassia Oleoresins
      1. Market Size and Forecast, By Region
    8. Herb Oleoresins (Basil, Oregano, Thyme)
      1. Market Size and Forecast, By Region
    9. Others (Clove, Saffron, Specialty Botanicals)
      1. Market Size and Forecast, By Region
  10. Oleoresins Market, By Form
    1. Introduction
      1. Market Size and Forecast, By Form
    2. Oil-Soluble Oleoresins
      1. Market Size and Forecast, By Region
    3. Water-Soluble Oleoresins
      1. Market Size and Forecast, By Region
    4. Encapsulated / Powdered Oleoresins
      1. Market Size and Forecast, By Region
    5. Nano-Emulsified & Specialty Forms
      1. Market Size and Forecast, By Region
  11. Oleoresins Market, By Extraction Technology
    1. Introduction
      1. Market Size and Forecast, By Extraction Technology
    2. Solvent Extraction
      1. Market Size and Forecast, By Region
    3. Supercritical CO₂ Extraction
      1. Market Size and Forecast, By Region
    4. Enzymatic & Advanced Green Extraction
      1. Market Size and Forecast, By Region
  12. Oleoresins Market, By Application
    1. Introduction
      1. Market Size and Forecast, By Application
    2. Food & Beverages
      1. Market Size and Forecast, By Region
    3. Pharmaceuticals & Nutraceuticals
      1. Market Size and Forecast, By Region
    4. Cosmetics & Personal Care
      1. Market Size and Forecast, By Region
    5. Fragrances & Perfumery
      1. Market Size and Forecast, By Region
    6. Animal Feed & Nutrition
      1. Market Size and Forecast, By Region
  13. Regional Overview
    1. Introduction
      1. Market Size and Forecast
    2. North America
      1. Market Size and Forecast
        1. By Product Type
          1. Paprika Oleoresins
            1. Capsicum Oleoresins
              1. Turmeric Oleoresins
                1. Seed Spice Oleoresins (Black Pepper, Cumin, Coriander)
                  1. Ginger Oleoresins
                    1. Cinnamon & Cassia Oleoresins
                      1. Herb Oleoresins (Basil, Oregano, Thyme)
                        1. Others (Clove, Saffron, Specialty Botanicals)
                        2. By Form
                          1. Oil-Soluble Oleoresins
                            1. Water-Soluble Oleoresins
                              1. Encapsulated / Powdered Oleoresins
                                1. Nano-Emulsified & Specialty Forms
                                2. By Extraction Technology
                                  1. Solvent Extraction
                                    1. Supercritical CO₂ Extraction
                                      1. Enzymatic & Advanced Green Extraction
                                      2. By Application
                                        1. Food & Beverages
                                          1. Pharmaceuticals & Nutraceuticals
                                            1. Cosmetics & Personal Care
                                              1. Fragrances & Perfumery
                                                1. Animal Feed & Nutrition
                                              2. U.S.
                                                1. By Product Type
                                                  1. Paprika Oleoresins
                                                    1. Capsicum Oleoresins
                                                      1. Turmeric Oleoresins
                                                        1. Seed Spice Oleoresins (Black Pepper, Cumin, Coriander)
                                                          1. Ginger Oleoresins
                                                            1. Cinnamon & Cassia Oleoresins
                                                              1. Herb Oleoresins (Basil, Oregano, Thyme)
                                                                1. Others (Clove, Saffron, Specialty Botanicals)
                                                                2. By Form
                                                                  1. Oil-Soluble Oleoresins
                                                                    1. Water-Soluble Oleoresins
                                                                      1. Encapsulated / Powdered Oleoresins
                                                                        1. Nano-Emulsified & Specialty Forms
                                                                        2. By Extraction Technology
                                                                          1. Solvent Extraction
                                                                            1. Supercritical CO₂ Extraction
                                                                              1. Enzymatic & Advanced Green Extraction
                                                                              2. By Application
                                                                                1. Food & Beverages
                                                                                  1. Pharmaceuticals & Nutraceuticals
                                                                                    1. Cosmetics & Personal Care
                                                                                      1. Fragrances & Perfumery
                                                                                        1. Animal Feed & Nutrition
                                                                                      2. Canada
                                                                                    2. Europe
                                                                                      1. Market Size and Forecast
                                                                                        1. By Product Type
                                                                                          1. Paprika Oleoresins
                                                                                            1. Capsicum Oleoresins
                                                                                              1. Turmeric Oleoresins
                                                                                                1. Seed Spice Oleoresins (Black Pepper, Cumin, Coriander)
                                                                                                  1. Ginger Oleoresins
                                                                                                    1. Cinnamon & Cassia Oleoresins
                                                                                                      1. Herb Oleoresins (Basil, Oregano, Thyme)
                                                                                                        1. Others (Clove, Saffron, Specialty Botanicals)
                                                                                                        2. By Form
                                                                                                          1. Oil-Soluble Oleoresins
                                                                                                            1. Water-Soluble Oleoresins
                                                                                                              1. Encapsulated / Powdered Oleoresins
                                                                                                                1. Nano-Emulsified & Specialty Forms
                                                                                                                2. By Extraction Technology
                                                                                                                  1. Solvent Extraction
                                                                                                                    1. Supercritical CO₂ Extraction
                                                                                                                      1. Enzymatic & Advanced Green Extraction
                                                                                                                      2. By Application
                                                                                                                        1. Food & Beverages
                                                                                                                          1. Pharmaceuticals & Nutraceuticals
                                                                                                                            1. Cosmetics & Personal Care
                                                                                                                              1. Fragrances & Perfumery
                                                                                                                                1. Animal Feed & Nutrition
                                                                                                                              2. U.K.
                                                                                                                                1. By Product Type
                                                                                                                                  1. Paprika Oleoresins
                                                                                                                                    1. Capsicum Oleoresins
                                                                                                                                      1. Turmeric Oleoresins
                                                                                                                                        1. Seed Spice Oleoresins (Black Pepper, Cumin, Coriander)
                                                                                                                                          1. Ginger Oleoresins
                                                                                                                                            1. Cinnamon & Cassia Oleoresins
                                                                                                                                              1. Herb Oleoresins (Basil, Oregano, Thyme)
                                                                                                                                                1. Others (Clove, Saffron, Specialty Botanicals)
                                                                                                                                                2. By Form
                                                                                                                                                  1. Oil-Soluble Oleoresins
                                                                                                                                                    1. Water-Soluble Oleoresins
                                                                                                                                                      1. Encapsulated / Powdered Oleoresins
                                                                                                                                                        1. Nano-Emulsified & Specialty Forms
                                                                                                                                                        2. By Extraction Technology
                                                                                                                                                          1. Solvent Extraction
                                                                                                                                                            1. Supercritical CO₂ Extraction
                                                                                                                                                              1. Enzymatic & Advanced Green Extraction
                                                                                                                                                              2. By Application
                                                                                                                                                                1. Food & Beverages
                                                                                                                                                                  1. Pharmaceuticals & Nutraceuticals
                                                                                                                                                                    1. Cosmetics & Personal Care
                                                                                                                                                                      1. Fragrances & Perfumery
                                                                                                                                                                        1. Animal Feed & Nutrition
                                                                                                                                                                      2. Germany
                                                                                                                                                                      3. France
                                                                                                                                                                      4. Spain
                                                                                                                                                                      5. Italy
                                                                                                                                                                      6. Russia
                                                                                                                                                                      7. Nordic
                                                                                                                                                                      8. Benelux
                                                                                                                                                                      9. Rest of Europe
                                                                                                                                                                    2. APAC
                                                                                                                                                                      1. Market Size and Forecast
                                                                                                                                                                        1. By Product Type
                                                                                                                                                                          1. Paprika Oleoresins
                                                                                                                                                                            1. Capsicum Oleoresins
                                                                                                                                                                              1. Turmeric Oleoresins
                                                                                                                                                                                1. Seed Spice Oleoresins (Black Pepper, Cumin, Coriander)
                                                                                                                                                                                  1. Ginger Oleoresins
                                                                                                                                                                                    1. Cinnamon & Cassia Oleoresins
                                                                                                                                                                                      1. Herb Oleoresins (Basil, Oregano, Thyme)
                                                                                                                                                                                        1. Others (Clove, Saffron, Specialty Botanicals)
                                                                                                                                                                                        2. By Form
                                                                                                                                                                                          1. Oil-Soluble Oleoresins
                                                                                                                                                                                            1. Water-Soluble Oleoresins
                                                                                                                                                                                              1. Encapsulated / Powdered Oleoresins
                                                                                                                                                                                                1. Nano-Emulsified & Specialty Forms
                                                                                                                                                                                                2. By Extraction Technology
                                                                                                                                                                                                  1. Solvent Extraction
                                                                                                                                                                                                    1. Supercritical CO₂ Extraction
                                                                                                                                                                                                      1. Enzymatic & Advanced Green Extraction
                                                                                                                                                                                                      2. By Application
                                                                                                                                                                                                        1. Food & Beverages
                                                                                                                                                                                                          1. Pharmaceuticals & Nutraceuticals
                                                                                                                                                                                                            1. Cosmetics & Personal Care
                                                                                                                                                                                                              1. Fragrances & Perfumery
                                                                                                                                                                                                                1. Animal Feed & Nutrition
                                                                                                                                                                                                              2. China
                                                                                                                                                                                                                1. By Product Type
                                                                                                                                                                                                                  1. Paprika Oleoresins
                                                                                                                                                                                                                    1. Capsicum Oleoresins
                                                                                                                                                                                                                      1. Turmeric Oleoresins
                                                                                                                                                                                                                        1. Seed Spice Oleoresins (Black Pepper, Cumin, Coriander)
                                                                                                                                                                                                                          1. Ginger Oleoresins
                                                                                                                                                                                                                            1. Cinnamon & Cassia Oleoresins
                                                                                                                                                                                                                              1. Herb Oleoresins (Basil, Oregano, Thyme)
                                                                                                                                                                                                                                1. Others (Clove, Saffron, Specialty Botanicals)
                                                                                                                                                                                                                                2. By Form
                                                                                                                                                                                                                                  1. Oil-Soluble Oleoresins
                                                                                                                                                                                                                                    1. Water-Soluble Oleoresins
                                                                                                                                                                                                                                      1. Encapsulated / Powdered Oleoresins
                                                                                                                                                                                                                                        1. Nano-Emulsified & Specialty Forms
                                                                                                                                                                                                                                        2. By Extraction Technology
                                                                                                                                                                                                                                          1. Solvent Extraction
                                                                                                                                                                                                                                            1. Supercritical CO₂ Extraction
                                                                                                                                                                                                                                              1. Enzymatic & Advanced Green Extraction
                                                                                                                                                                                                                                              2. By Application
                                                                                                                                                                                                                                                1. Food & Beverages
                                                                                                                                                                                                                                                  1. Pharmaceuticals & Nutraceuticals
                                                                                                                                                                                                                                                    1. Cosmetics & Personal Care
                                                                                                                                                                                                                                                      1. Fragrances & Perfumery
                                                                                                                                                                                                                                                        1. Animal Feed & Nutrition
                                                                                                                                                                                                                                                      2. Korea
                                                                                                                                                                                                                                                      3. Japan
                                                                                                                                                                                                                                                      4. India
                                                                                                                                                                                                                                                      5. Australia
                                                                                                                                                                                                                                                      6. Singapore
                                                                                                                                                                                                                                                      7. Taiwan
                                                                                                                                                                                                                                                      8. South East Asia
                                                                                                                                                                                                                                                      9. Rest of Asia-Pacific
                                                                                                                                                                                                                                                    2. Middle East and Africa
                                                                                                                                                                                                                                                      1. Market Size and Forecast
                                                                                                                                                                                                                                                        1. By Product Type
                                                                                                                                                                                                                                                          1. Paprika Oleoresins
                                                                                                                                                                                                                                                            1. Capsicum Oleoresins
                                                                                                                                                                                                                                                              1. Turmeric Oleoresins
                                                                                                                                                                                                                                                                1. Seed Spice Oleoresins (Black Pepper, Cumin, Coriander)
                                                                                                                                                                                                                                                                  1. Ginger Oleoresins
                                                                                                                                                                                                                                                                    1. Cinnamon & Cassia Oleoresins
                                                                                                                                                                                                                                                                      1. Herb Oleoresins (Basil, Oregano, Thyme)
                                                                                                                                                                                                                                                                        1. Others (Clove, Saffron, Specialty Botanicals)
                                                                                                                                                                                                                                                                        2. By Form
                                                                                                                                                                                                                                                                          1. Oil-Soluble Oleoresins
                                                                                                                                                                                                                                                                            1. Water-Soluble Oleoresins
                                                                                                                                                                                                                                                                              1. Encapsulated / Powdered Oleoresins
                                                                                                                                                                                                                                                                                1. Nano-Emulsified & Specialty Forms
                                                                                                                                                                                                                                                                                2. By Extraction Technology
                                                                                                                                                                                                                                                                                  1. Solvent Extraction
                                                                                                                                                                                                                                                                                    1. Supercritical CO₂ Extraction
                                                                                                                                                                                                                                                                                      1. Enzymatic & Advanced Green Extraction
                                                                                                                                                                                                                                                                                      2. By Application
                                                                                                                                                                                                                                                                                        1. Food & Beverages
                                                                                                                                                                                                                                                                                          1. Pharmaceuticals & Nutraceuticals
                                                                                                                                                                                                                                                                                            1. Cosmetics & Personal Care
                                                                                                                                                                                                                                                                                              1. Fragrances & Perfumery
                                                                                                                                                                                                                                                                                                1. Animal Feed & Nutrition
                                                                                                                                                                                                                                                                                              2. UAE
                                                                                                                                                                                                                                                                                                1. By Product Type
                                                                                                                                                                                                                                                                                                  1. Paprika Oleoresins
                                                                                                                                                                                                                                                                                                    1. Capsicum Oleoresins
                                                                                                                                                                                                                                                                                                      1. Turmeric Oleoresins
                                                                                                                                                                                                                                                                                                        1. Seed Spice Oleoresins (Black Pepper, Cumin, Coriander)
                                                                                                                                                                                                                                                                                                          1. Ginger Oleoresins
                                                                                                                                                                                                                                                                                                            1. Cinnamon & Cassia Oleoresins
                                                                                                                                                                                                                                                                                                              1. Herb Oleoresins (Basil, Oregano, Thyme)
                                                                                                                                                                                                                                                                                                                1. Others (Clove, Saffron, Specialty Botanicals)
                                                                                                                                                                                                                                                                                                                2. By Form
                                                                                                                                                                                                                                                                                                                  1. Oil-Soluble Oleoresins
                                                                                                                                                                                                                                                                                                                    1. Water-Soluble Oleoresins
                                                                                                                                                                                                                                                                                                                      1. Encapsulated / Powdered Oleoresins
                                                                                                                                                                                                                                                                                                                        1. Nano-Emulsified & Specialty Forms
                                                                                                                                                                                                                                                                                                                        2. By Extraction Technology
                                                                                                                                                                                                                                                                                                                          1. Solvent Extraction
                                                                                                                                                                                                                                                                                                                            1. Supercritical CO₂ Extraction
                                                                                                                                                                                                                                                                                                                              1. Enzymatic & Advanced Green Extraction
                                                                                                                                                                                                                                                                                                                              2. By Application
                                                                                                                                                                                                                                                                                                                                1. Food & Beverages
                                                                                                                                                                                                                                                                                                                                  1. Pharmaceuticals & Nutraceuticals
                                                                                                                                                                                                                                                                                                                                    1. Cosmetics & Personal Care
                                                                                                                                                                                                                                                                                                                                      1. Fragrances & Perfumery
                                                                                                                                                                                                                                                                                                                                        1. Animal Feed & Nutrition
                                                                                                                                                                                                                                                                                                                                      2. Turky
                                                                                                                                                                                                                                                                                                                                      3. Saudi Arabia
                                                                                                                                                                                                                                                                                                                                      4. South Africa
                                                                                                                                                                                                                                                                                                                                      5. Egypt
                                                                                                                                                                                                                                                                                                                                      6. Nigeria
                                                                                                                                                                                                                                                                                                                                      7. Rest of MEA
                                                                                                                                                                                                                                                                                                                                    2. LATAM
                                                                                                                                                                                                                                                                                                                                      1. Market Size and Forecast
                                                                                                                                                                                                                                                                                                                                        1. By Product Type
                                                                                                                                                                                                                                                                                                                                          1. Paprika Oleoresins
                                                                                                                                                                                                                                                                                                                                            1. Capsicum Oleoresins
                                                                                                                                                                                                                                                                                                                                              1. Turmeric Oleoresins
                                                                                                                                                                                                                                                                                                                                                1. Seed Spice Oleoresins (Black Pepper, Cumin, Coriander)
                                                                                                                                                                                                                                                                                                                                                  1. Ginger Oleoresins
                                                                                                                                                                                                                                                                                                                                                    1. Cinnamon & Cassia Oleoresins
                                                                                                                                                                                                                                                                                                                                                      1. Herb Oleoresins (Basil, Oregano, Thyme)
                                                                                                                                                                                                                                                                                                                                                        1. Others (Clove, Saffron, Specialty Botanicals)
                                                                                                                                                                                                                                                                                                                                                        2. By Form
                                                                                                                                                                                                                                                                                                                                                          1. Oil-Soluble Oleoresins
                                                                                                                                                                                                                                                                                                                                                            1. Water-Soluble Oleoresins
                                                                                                                                                                                                                                                                                                                                                              1. Encapsulated / Powdered Oleoresins
                                                                                                                                                                                                                                                                                                                                                                1. Nano-Emulsified & Specialty Forms
                                                                                                                                                                                                                                                                                                                                                                2. By Extraction Technology
                                                                                                                                                                                                                                                                                                                                                                  1. Solvent Extraction
                                                                                                                                                                                                                                                                                                                                                                    1. Supercritical CO₂ Extraction
                                                                                                                                                                                                                                                                                                                                                                      1. Enzymatic & Advanced Green Extraction
                                                                                                                                                                                                                                                                                                                                                                      2. By Application
                                                                                                                                                                                                                                                                                                                                                                        1. Food & Beverages
                                                                                                                                                                                                                                                                                                                                                                          1. Pharmaceuticals & Nutraceuticals
                                                                                                                                                                                                                                                                                                                                                                            1. Cosmetics & Personal Care
                                                                                                                                                                                                                                                                                                                                                                              1. Fragrances & Perfumery
                                                                                                                                                                                                                                                                                                                                                                                1. Animal Feed & Nutrition
                                                                                                                                                                                                                                                                                                                                                                              2. Brazil
                                                                                                                                                                                                                                                                                                                                                                                1. By Product Type
                                                                                                                                                                                                                                                                                                                                                                                  1. Paprika Oleoresins
                                                                                                                                                                                                                                                                                                                                                                                    1. Capsicum Oleoresins
                                                                                                                                                                                                                                                                                                                                                                                      1. Turmeric Oleoresins
                                                                                                                                                                                                                                                                                                                                                                                        1. Seed Spice Oleoresins (Black Pepper, Cumin, Coriander)
                                                                                                                                                                                                                                                                                                                                                                                          1. Ginger Oleoresins
                                                                                                                                                                                                                                                                                                                                                                                            1. Cinnamon & Cassia Oleoresins
                                                                                                                                                                                                                                                                                                                                                                                              1. Herb Oleoresins (Basil, Oregano, Thyme)
                                                                                                                                                                                                                                                                                                                                                                                                1. Others (Clove, Saffron, Specialty Botanicals)
                                                                                                                                                                                                                                                                                                                                                                                                2. By Form
                                                                                                                                                                                                                                                                                                                                                                                                  1. Oil-Soluble Oleoresins
                                                                                                                                                                                                                                                                                                                                                                                                    1. Water-Soluble Oleoresins
                                                                                                                                                                                                                                                                                                                                                                                                      1. Encapsulated / Powdered Oleoresins
                                                                                                                                                                                                                                                                                                                                                                                                        1. Nano-Emulsified & Specialty Forms
                                                                                                                                                                                                                                                                                                                                                                                                        2. By Extraction Technology
                                                                                                                                                                                                                                                                                                                                                                                                          1. Solvent Extraction
                                                                                                                                                                                                                                                                                                                                                                                                            1. Supercritical CO₂ Extraction
                                                                                                                                                                                                                                                                                                                                                                                                              1. Enzymatic & Advanced Green Extraction
                                                                                                                                                                                                                                                                                                                                                                                                              2. By Application
                                                                                                                                                                                                                                                                                                                                                                                                                1. Food & Beverages
                                                                                                                                                                                                                                                                                                                                                                                                                  1. Pharmaceuticals & Nutraceuticals
                                                                                                                                                                                                                                                                                                                                                                                                                    1. Cosmetics & Personal Care
                                                                                                                                                                                                                                                                                                                                                                                                                      1. Fragrances & Perfumery
                                                                                                                                                                                                                                                                                                                                                                                                                        1. Animal Feed & Nutrition
                                                                                                                                                                                                                                                                                                                                                                                                                      2. Mexico
                                                                                                                                                                                                                                                                                                                                                                                                                      3. Argentina
                                                                                                                                                                                                                                                                                                                                                                                                                      4. Chile
                                                                                                                                                                                                                                                                                                                                                                                                                      5. Colombia
                                                                                                                                                                                                                                                                                                                                                                                                                      6. Rest of LATAM
                                                                                                                                                                                                                                                                                                                                                                                                                  2. Competitive Landscape, 2025
                                                                                                                                                                                                                                                                                                                                                                                                                    1. Introduction
                                                                                                                                                                                                                                                                                                                                                                                                                    2. Oleoresins Market Share Analysis, 2025 (%)
                                                                                                                                                                                                                                                                                                                                                                                                                      1. Market Share Analysis, 2025
                                                                                                                                                                                                                                                                                                                                                                                                                      2. Competition Ranking, 2025
                                                                                                                                                                                                                                                                                                                                                                                                                      3. Key Developments & Growth Strategies
                                                                                                                                                                                                                                                                                                                                                                                                                        1. Merger & Acquisition
                                                                                                                                                                                                                                                                                                                                                                                                                        2. Product Launch
                                                                                                                                                                                                                                                                                                                                                                                                                        3. Expansion
                                                                                                                                                                                                                                                                                                                                                                                                                      4. Consolidated SWOT Analysis of Key Players
                                                                                                                                                                                                                                                                                                                                                                                                                  3. Company Profile
                                                                                                                                                                                                                                                                                                                                                                                                                    1. Synthite Industries Ltd.
                                                                                                                                                                                                                                                                                                                                                                                                                      1. Business Overview
                                                                                                                                                                                                                                                                                                                                                                                                                      2. Financial Data
                                                                                                                                                                                                                                                                                                                                                                                                                      3. Key Product domains
                                                                                                                                                                                                                                                                                                                                                                                                                      4. Recent Developments
                                                                                                                                                                                                                                                                                                                                                                                                                    2. Plant Lipids Pvt. Ltd.
                                                                                                                                                                                                                                                                                                                                                                                                                    3. Kancor Ingredients Ltd.
                                                                                                                                                                                                                                                                                                                                                                                                                    4. Kalsec Inc.
                                                                                                                                                                                                                                                                                                                                                                                                                    5. Oterra A/S
                                                                                                                                                                                                                                                                                                                                                                                                                    6. Akay Natural Ingredients Pvt. Ltd.
                                                                                                                                                                                                                                                                                                                                                                                                                    7. AVT Naturals Ltd.
                                                                                                                                                                                                                                                                                                                                                                                                                    8. Gazignaire SA
                                                                                                                                                                                                                                                                                                                                                                                                                    9. PT Indesso Aroma
                                                                                                                                                                                                                                                                                                                                                                                                                    10. Universal Oleoresins