Marigold Oleoresin Market: Introduction
According to a recent study conducted on marigold oleoresin market by Transparency Market Research, it was found that the market is expanding at approximate CAGR of 7.6% to reach US$ 136.7 Mn by 2032. Marigold oleoresin is a valuable product that is extracted from dried marigold flower powder using a solvent and then removed to leave only trace residues. The pigment lutein is present in ester form in the oleoresin.
The European market for marigold oleoresin holds majority value share of more than 25% of the global marigold oleoresin market. It is estimated to be valued at approximately US$ 18.7 Mn in 2022 and is forecast to grow at approximate CAGR of 8% to reach US$ 40.6 Mn by 2032 for the region.
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Marigold Oleoresin Market by Territory
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
Increase in Demand for Flavor and Aroma in Food to Drive Market Growth
Food ingredient used to color food, alcoholic beverages, pastries, snacks, beverages, and jellies. As the minimum strength needed in most food applications is 10%, oleoresin extracts are available in concentrations ranging from 10% to 18%. These oleoresins are mainly utilized as the flavoring agent in the food processing industry.
The demand for marigold is increasing due to their distinctive color characteristics, which can be attributed to the presence of carotenoid pigments, which give substantial health advantages in several foods, and drive market expansion throughout the forecast period. Moreover, oil soluble marigold oleoresin is a dark brown oleoresin with a marigold aroma; when heated, it transforms into an oily liquid that dissolves easily in oil. Furthermore, water soluble marigold oleoresin is a bright orange liquid or powder that has been converted from an oil-soluble type. It disperses easily in water. The product finds its applications commonly in baking, beverages, frozen foods, jelly, jam, and infant formula food.
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Increase in Adoption of Organic Certified Marigold Oleoresin
Organic food producers are gaining lucrative benefits in the global marigold oleoresin market due to rising trend of consuming natural food products. The legal distinction between substances classified as food additives and natural food extracts with coloring capabilities may benefit extract producers. Organic food producers are more likely to depend on exemption provision in organic laws due to these extremely low concentrations. Growth and advancement in cosmetics and personal care industries are expected to propel the demand for oleoresin in the upcoming years.
Oleoresins are increasingly being used in cosmetic products and healthcare products to treat various diseases. Rapid urbanization and health awareness are some of the factors responsible for the rising demand for natural products. In addition, consumers are more conscious about the choices of food after the coronavirus pandemic. The increasing demand for natural and plant-based extracts used in various end-use applications is driving the demand for marigold oleoresins.
Strengthening Distribution Channels in Marigold Oleoresin Market to Drive Global Market
The increasing demand for marigold oleoresins across the globe is creating value-grab opportunities for product manufacturers. Factors such as growing distribution channels, including hypermarket/supermarket, specialty stores, etc. are responsible for the expansion of the global marigold oleoresin market. Online retail channels offer a wide variety of buying options to their customers. Digitalization and online payment facilities with utmost security encourage consumers to buy products from online channels. This is expected to boost the global marigold oleoresin market in the upcoming years. The lucrative presence of product manufacturers operating in the global marigold oleoresin market across the globe is creating expansion opportunities for the global market.
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Marigold oleoresin Market: Key Players
- Some of the key players in the market are
- Ozone Natural Pvt. Ltd.
- Synthite
- AVT Natural Products
- Olive Lifesciences Private Limited
- Xiamen Boten
- Handan Deyuan Bio-Tech Co., Ltd.
- Chenguang Biotech Group Co., Ltd.
- Plant Lipids
- Naturex (Givaduan)
- Aturex Nutritionals, among others
Benefits of Marigold Oleoresin to Provide Opportunities for Market Growth
Marigold oleoresin has been found in recent pharmaceutical clinical studies to offer various benefits for dermatological functions. Marigold oleoresin is commonly implemented in the pharmaceutical sector due to its therapeutic properties. Lutein, which neutralizes free radicals, is effective in curing AMD (Age-related Macular Degeneration) and enhancing eye health. The yellow pigment is very well known for its anti-cancer and antioxidant properties. It has antibacterial effects and is used to treat acne and burns. It is used in animal feed, notably in poultry, to color the broiler skin and egg yolks.
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Marigold is a traditional medicinal herb with a wide range of pharmacological properties. It is critical to extract and study the specific bioactive chemicals found in marigolds. Increasing consumer awareness of the product’s health benefits has driven pharmaceutical producers to prioritize the inclusion of marigold oleoresin extracts into medicine formulations. The product’s multiple health benefits, along with growing product demand for medicinal formulations, are expected to boost the market throughout the projected period.
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