Marigold Oleoresin Market

Global Marigold Oleoresin Market Size (2024 to 2029) 

Marigold Oleoresin Market share value in 2024 was 76.18 million and it is expected to grow at a CAGR of 7.60% during the forecast period 2024-2029 to reach USD 109.88 million by 2029.

Marigold oleoresin is made from the marigold which is also called Tagetes erecta. The dried marigold flower is extracted by the use of a solvent. This is also called as calendula oleoresin or Tagetes erecta oleoresin. The main composition of the marigold oleoresin is the lutein. The lutein present in the marigold oleoresin has a bright color, also has superior coloring strength. It is also considered the original yellow color. The lutein is mainly prepared by the marigold oleoresin and it has a high value in nutraceuticals. As an effective antioxidant, lutein shields the body from several diseases and infections. Marigold oleoresin is used in many pharmaceutical formulations because it possesses anti-inflammatory and antibacterial effects. The marigold oleoresin is extensively utilized in the food, drug, cosmetic, feed industries, etc. Strong antioxidants known for their positive effects on health, carotenoids, lutein, and zeaxanthin are present in high concentrations in marigold oleoresin. These substances are important for healthy eyesight and may also help prevent age-related macular degeneration. A range of food products, including beverages, desserts, sauces, and dressings, are using marigold oleoresin as a coloring agent in the food industry. It is preferred over synthetic colorants due to its natural nature and consumer demand for clean-label products. Due to its coloring properties, marigold oleoresin is also utilized in the cosmetics industry for skincare and haircare products.

The increase in demand for organic certified marigold oleoresins is creating opportunities for the growth of the marigold oleoresins market over the forecasting period. This is due to an increase in demand for clean-labeled products and naturally obtained products such as marigold oleoresin. This helps to increase the demand for marigold oleoresin over the forecasting period. This leads to encouraging the manufacturers to develop new products which helps to increase in demand for the marigold oleoresin. The food and beverage industry's increasing demand for natural antioxidants and colorants offers an opportunity for marigold oleoresin. Marigold Oleoresin a natural flavoring agent is used as an alternative to synthetic flavoring agent. The use of marigold oleoresin in skincare, haircare, and other cosmetic applications is made possible by the growing trend of using natural ingredients in personal care and cosmetic products. Additionally, the increase in mergers and collaborations in the marigold oleoresin market increases the demand for marigold oleoresin across the globe. These are the factors that are creating opportunities in the marigold oleoresin market over the forecasting period.

Marigold Oleoresin Market Drivers:

The increase in demand for marigold oleoresin in the food and beverage industry is one of the major driving factors to the marigold oleoresin market growth. This marigold oleoresin is used as a coloring agent and flavoring agent in the manufacturing of various food products. The presence of the antioxidizing agent called lutein is the main reason that marigold oleoresin is used as a colorant. This is due to the lutein has the superior coloring strength and gives the food product a bright color. Various food products such as snacks, pastries, and jellies use marigold oleoresin as a colorant. Also, while preparing various alcoholic beverages this is used as a coloring agent. The increase in popularity of marigold oleoresin increases the market growth for the marigold oleoresin. The market is also being stimulated by the growing use of marigold oleoresin in baked goods, frozen meals, jams and jellies, infant formula, beverages, etc. The grilled skin and egg yolks of chicken are colored with marigold oleoresin, which is also used in animal feed.

The increase in demand for marigold oleoresin in the pharmaceutical industry drives the marigold oleoresin market growth. This is due to its various health benefits and also it acts as a coloring agent. Marigold Oleoresin is also used as an anti-cancer and antioxidant. This is used in the reduction of free radicals hence increasing the demand for the marigold oleoresin. The marigold oleoresin is also used as a cure for stomach upset, and digestive disorders. Additionally, the use of marigold oleoresin as a colorant in the cosmetic industry increased the demand for cosmetics and personal care products. To treat bacterial wound infections, oleoresin is used. The carotenoids in marigolds promote wound healing and reduce inflammation, which helps to prevent infections. These are the driving factors behind the marigold oleoresin market growth.

Marigold Oleoresin Market Restraints:

The lack of availability of raw materials including the marigold is one of the major restraining factors to the marigold oleoresin market growth. This is due to the climatic conditions decreasing the cultivation and resulting in less yield of the raw material that is marigold. Additionally, these marigolds can be cultivated in a few regions only, which leads to a lack of availability of marigold oleoresins. The complex process of the extraction of marigold oleoresin requires specialized equipment and expertise, which decreases the demand for the marigold oleoresin market growth. Additionally, the less investment in research and development of the extraction of marigold oleoresin decreases the demand for the marigold oleoresin. During the extraction process, maintaining the quality of the marigold oleoresin is also a hard process, this requires expertise hence decreasing the demand for the marigold oleoresin. In addition, the lack of awareness among consumers regarding the benefits and uses of marigold oleoresin decreases the demand for marigold oleoresin. These are the restraining factors to the marigold oleoresin market growth.

Impact of COVID-19 on the Marigold Oleoresin Market:

The pandemic adversely impacted the growth of the marigold oleoresin market. This is due to the closure of the food and beverage industry where it is used as a flavoring agent. The disruption in supply chain management decreases the demand for the marigold oleoresin. The decrease in the supply of marigolds to the companies extracting the marigold oleoresin. This was due to the imposition of travel bans and lockdowns across the globe. Additionally, the change in consumers' buying patterns decreases the demand for the marigold oleoresin. In addition, the closure of the airline decreased the imports and exports of the marigold hence the decrease in the demand for marigold oleoresin. These are the factors that impacted the growth of the marigold oleoresin market during the pandemic.                   

REPORT COVERAGE: 

This research report on the Global Marigold Oleoresin Market has been segmented and sub-segmented based on product, extraction method, application, and region.                              

Marigold Oleoresin Market - By Product:

• Water-Soluble
• Oil-Soluble

Among these, the water-soluble segment dominates the marigold oleoresin market. The water-soluble segment is expected to show its dominance in the market over the forecasting period. Water-soluble products are major used in the food and beverage industry as a colorant and a flavoring agent. The oil-soluble segment is expected to show the fastest CAGR growth in the market over the forecasting period. This is due to its application in dairy foods and also in the cosmetics and pharmaceutical industry. Marigold oleoresin has a potential advantage in pharmaceutics because of its antioxidizing and anti-inflammatory properties.

Marigold Oleoresin Market - By Extraction method:

• Solvent Extraction
• Supercritical Fluid Extraction

Among these, the solvent extraction method dominates the marigold oleoresin market. The solvent extraction is expected to show its dominance in the market for marigold oleoresin over the forecasting period. This is due to this method is usually preferred by the manufacturers. The supercritical fluid extraction is expected to show the fastest CAGR in the marigold oleoresin market over the forecasting period.

Marigold Oleoresin Market - By Application:

• Food and Beverage
• Pharmaceutical and Nutraceutical
• Cosmetics and Personal Care

Among these, the food and beverage segment dominates the marigold oleoresin market. The food and beverage segment is expected to show its dominance in the market for marigold oleoresin over the forecasting period. This is due to its vast uses in the food and beverage industry as a colorant and a flavoring agent. Additionally, it is also used in making bakery items, and various food products. Various food products such as snacks, pastries, and jellies use marigold oleoresin as a colorant. The pharmaceutical and nutraceutical segment is expected to show the fastest CAGR growth in the marigold oleoresin market. This is due to various health benefits offered by the marigold oleoresin. Marigold oleoresin has pharmaceutical ingredients such as anti-cancer, and antioxidizing agents.

Marigold Oleoresin Market – By Region:

• North America
• Europe
• Asia-pacific
• Middle-East and Africa
• Latin America

Regionally, the European region dominates the Marigold Oleoresin Market. The European region is expected to show dominance in the Marigold Oleoresin market over the forecasting period. The presence of lutein gives the bright color hence used as a colorant and a flavoring agent in the food and beverage industry. The increasing popularity of natural and botanical ingredients in food, medicine, and cosmetics increases the demand for marigold oleoresin. Marigold oleoresin adoption is most prevalent in Germany, the UK, France, and Italy. Marigold oleoresin is becoming more prevalent in skincare, haircare, and functional meals due to clean labels and natural products.

The Asia Pacific region is expected to show the fastest growth in the marigold oleoresin market over the forecasting period. This is due to the region's cultural heritage and traditional medicine practices. For a very long time, China, India, and Japan have been using marigold oleoresin as a component of traditional medicines. Demand for marigold oleoresin in the pharmaceutical, cosmetic, and food industries is driven by population growth, increased incomes, and health consciousness.

KEY MARKET PLAYERS:

Key market players of Global Marigold Oleoresin Market are Ozone Natural Pvt. Ltd, Life Sciences, Synthite Industries Limited, Akay Group, Everest Spices & Herbs, Naturite Natural Products, AVT Naturals, Dohler Group, Naturex, Sensient Technologies Corporation.

RECENT HAPPENNGS IN THE INDUSTRY:

In Feb 202, Givaudan agreed on the acquisition of Ungerer & Company, a U.S.-based flavor, fragrance, and specific ingredient company, to increase the capabilities of its worldwide flavor and fragrance business.