Global Marigold Oleoresin Market Size, Share, and COVID-19 Impact Analysis, By Nature (Organic & Conventional), By Extraction Type (Solvent Extraction, Supercritical Fluid Extraction [SFE)), By Application (Food & Beverage, Pharmaceutical, Cosmetics & Personal Care, Feed industries & Others), By Sales Channel (B2B & B2C) and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) Analysis and Forecast 2022-2030
KEY MARKET INSIGHTS
The global marigold oleoresin market was valued at USD 18.7 Mn in 2021. The market is projected to grow USD 40.6 Mn in 2030, at a CAGR of 7.6%. Marigold Oleoresin is a yellow natural food additive obtained from marigold flower. It is a bright light orange color that adds brightness and attractiveness to a product when used. Marigold is an ornamental plant from the aster family. This ingredient can be found in meats, drinks, and nutritional supplements. Marigold are used in medical purposes as well as food additives. Lutein is a yellow plant pigment belonging to the xanthophyll family of carotenoids and widely present in marigold flowers. Lutein is an effective antioxidant that may be utilized in foods as a natural coloring pigment and functional food ingredient. The anti-cancer and antioxidant benefits of the yellow pigment are widely established. It is used to treat acne and burns because of its antibacterial properties. It's used to colour broiler skin and egg yolks in animal feed, particularly in chicken.
COVID-19 ANALYSIS
The COVID-19 epidemic has had a negative impact on the market for marigold oleoresin market. Due to the protracted lockdown and suspension of activities, the global marigold oleoresin industry has been severely impacted. During the projected period, however, the growing demand for organic essential oils around the world will propel the worldwide marigold oleoresin market forward.
LATEST TREND
Growing Awareness of Marigold Oleoresin Regarding Improvement of Skin Among Population
The increasing usage of marigold oleoresin applications will play significant factor driving the market growth of the global marigold oleoresin market. The growing awareness regarding improvement of skin among consumers are likely to propel the market growth. Numerous benefits such as curing skin ailments, food poisoning and cholera, amongst others. Also, can be used for massaging over external skin care to keep nourish & hydrate skin.
DRIVING FACTORS
Increasing Demand of Organic Based Marigold Oleoresin
Due to the growing trend of consuming natural food products, organic food producers are reaping profitable benefits in the worldwide marigold oleoresin market. The legal distinction between compounds designated as food additives and natural food extracts with the ability to color may benefit extract producers. Due to the extremely low concentrations, organic food producers are more likely to rely on exemption provisions under organic rules. In the future years, growth and improvement in the cosmetics and personal care industries are likely to drive demand for oleoresin.
Increasing Usage in HoReCa Industry Favoring Market Growth
The ever-growing HoReCa (Hotels, Restaurants, and Café) industry is providing manufacturers in the marigold essential oil market with steady revenue streams. Increasing demand for organically food products is aiding the market growth. Organically marigold oleoresins are witnessed to increase at an exponential rate, conventional marigold products own over 90% of the market. As a result, manufacturers are expanding their product line to increase the revenue profits.
RESTRAINTS
Concerns Pertaining to Fluctuating Prices of Raw Materials May Hinder the Market Growth
Changes in weather conditions are anticipated to restrict the growth of the global marigold oleoresin market during the forecast period. Price fluctuations occur as marigold essentials completely depends upon the supply of raw materials. Nonetheless, reduced consumer awareness of plant based beverages resulted in decline growth of global marigold oleoresin market.
SEGMENTATION
The global marigold oleoresin market is segmented by Nature (Organic & Conventional), By Extraction Type (Solvent Extraction & Supercritical Fluid Extraction [SFE)), By Application (Food & Beverage, Pharmaceutical, Cosmetics & Personal Care, Feed industries & Others), By Sales Channel (B2B & B2C) and Region. Based on the nature, the market is categorized into organic & conventional. Based on extraction type, the market is categorized into solvent extraction & supercritical fluid extraction [SFE). Based on application, the market is categorized into food & beverage, pharmaceutical, cosmetics & personal care, feed industries & others. Based on sales channel, the market is categorized into B2B & B2C. Based on the region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
Nature Type
Based on the nature segment, the global marigold oleoresin market is categorized into organic & conventional. The organic held the largest market share in 2020 of the global marigold oleoresin market attributing to the extremely low concentrations, organic food producers can rely on an exemption provision in organic rules. They may use a limited amount of non-organic components while maintaining the organic designation.
Extraction Type
Based on the extraction type segment, the global marigold oleoresin market is categorized into Solvent Extraction & Supercritical Fluid Extraction (SFE). The super critical fluid extraction (sfe) held the largest market share in 2020 of the global marigold oleoresin market attributing to the obtaining highest yield capacity at optimum conditions. The most common extraction methods amongst others.
Application
Based on the application segment, the global marigold oleoresin market is categorized into cosmetic & personal care, food & beverage, pharmaceutical. The food & beverage held the largest market share in 2020 of the global marigold oleoresin market attributing to increased demand in the food and beverage industry is one of the key factors impacting the global market. Food and beverage manufacturers use to make products to provide a distinct taste, flavor, and aroma. One of the elements affecting the need from manufacturers to include natural ingredients or flavors in their goods is the growing global demand for flavored beverages and juices.
The pharmaceutical is anticipated to grow over the next few years of the global marigold oleoresin market owing to numerous health benefits and increased expenditure in pharmaceutical research and development. These products are being used by the pharmaceutical industry to create organic health solutions. In comparison to manufactured drugs, oleoresins solely offer benefits for consumption and no adverse effects. Pharmaceutical companies are leveraging oleoresins' medicinal capabilities to diversify their product portfolios, resulting in increased demand from the pharmaceuticals application category.
Sales Channel
Based on the sales channel segment, the global marigold oleoresin market is categorized into B2B and B2C. The B2C segment is dominated the market share in 2020 owing to easy availability and consumer preference as they prefer to touch and check before purchasing. The online segment is anticipating over the next few years due to the huge popularity of e-commerce platforms like Amazon, Bigbasket, Dunzo, etc. The online medium has achieved huge sales due to the Covid-19 epidemic.
REGIONAL INSIGHTS
The global marigold oleoresin market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. Asia Pacific region is dominating the market share of global marigold oleoresin market owing to the rising population and urbanization activities. The need for marigold oleoresin has increased as the region's specialty stores and supermarkets/hypermarkets development activities have been increased. In recent years, market expansion has been spurred by population growth and an increase in disposable income in emerging countries. Furthermore, the consumption of marigold oleoresin has increased in India and China has been fast growing thanks to increased government investment. Higher production rate as well as the usage of new industrial technologies are credited with driving growth in the Asia Pacific area. The Asia Pacific area is the world's leading producer and exporter of the product. Spice-producing countries in the region include India, China, Vietnam, Indonesia, and Malaysia, among others. However, North America is expected to witness highest growth rate during the forecast period of the global marigold oleoresin market owing to investing in research and development to develop extraction technologies such as SCFE and solvent extraction to create better oleoresin products.
INDUSTRY PLAYERS
· ATUREX.COM
· AVT
· Young Living Essential Oils, LC
· BOS Natural Flavors (P) Limited
· NATUREX
· Chenguang Biotech Group Co., Ltd.
· Edens Garden
· Mountain Rose Herbs
· Olive Lifesciences (P) Limited
· Ozone Naturals
· Plant Lipids
· Sami Spices
· Synthite Industries Ltd.
SEGMENTATION:
By Nature
- Organic
- Conventional
By Extraction Type
- Solvent Extraction
- Supercritical Fluid Extraction [SFE)
By Application
- Food & Beverage
- Pharmaceutical
- Cosmetics & Personal Care
- Feed industries
- Others
By Sales Channel
- B2B
- B2C
By Region
- North America- U.S., Mexico, Canada
- Europe- UK, France, Germany, Italy
- Asia-Pacific- China, Japan, India
- Latin America- Brazil, Argentina, Colombia
- The Middle East and Africa- United Arab Emirates, Saudi Arabia
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Global Marigold Oleoresin Market Size
- June-2022
- 1 4 0
- Global
- Chemicals-and-Advanced-Materials
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