ALBANY, N.Y., April 26, 2022 (GLOBE NEWSWIRE) -- The global marigold oleoresin market is estimated to reach US$ 65.8 Mn in 2022. The global market is predicted to rise at a CAGR of 7.6% during the forecast period, from 2022 to 2032. The global marigold oleoresin market is anticipated to attain the valuation of US$ 136.7 Mn by 2032. The demand for marigold oleoresins is likely to rise due to the steadily increasing use of natural coloring additives in different foods and drinks. Growing consumer preference for clean label as well as healthy & organic substances in food & beverages is likely to drive the global marigold oleoresin market. The global market is also being supported by the growing usage of marigold oleoresin in different end-use industries such as personal care & cosmetics, food & beverages, and pharmaceuticals.
Organic food companies are profiting significantly in the global marigold oleoresin market, owing to the rapidly increasing popularity of natural food products. The legal discrepancy between compounds designated as natural food extracts with coloring properties and food additives is likely to prove advantageous for extract producers. Producers of organic food are more inclined to rely on exemption provisions in organic laws, owing to its very low concentrations.
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The global marigold oleoresin market is likely to be driven by numerous health benefits and distinctive color properties of carotenoid pigments found in oleoresins. In the forthcoming years, expansion and innovation in cosmetics & personal care businesses are likely to drive the demand for oleoresin.
Key Findings of Market Report
- Marigold oleoresin can be used to treat bacterial infections in injuries and wounds as an alternative to antibiotics. Carotenoids are a key component of marigold oleoresins, and they aid in the management of infections caused by burns and acne. Demand for marigold oleoresin from the pharmaceutical industry is also being fueled by the need to reduce inflammation. Marigold oleoresin has been shown to be useful in the treatment of age-related macular degeneration or AMD as well.
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- The global marigold oleoresin market is likely to be driven by its rising demand in the food & beverage industry. The primary objective is to improve the aroma and taste of the preparation. Hard liquor, snacks, jellies, pastries, and various other food items include this substance. Marigold oleoresins are becoming increasingly popular as a flavoring ingredient in the food processing business, which is likely to lead to more revenue generation for the market players.
- Oleoresins are constantly being utilized in cosmetic and healthcare items to treat a wide variety of disorders. The growing demand for organic items can be attributed to rapid urbanization as well as increase in health awareness. Furthermore, following the coronavirus pandemic, people are more concerned about their dietary preferences. The global marigold oleoresin market is being driven by the growing demand for natural as well as plant-based extracts utilized in a variety of end-use applications.
- Consumers are more likely to acquire things via online channels due to digitalization and secure online payment options. Over the next few years, this factor is projected to boost the global marigold oleoresin market.
- Marigold oleoresin is used as a starting material in the purification of lutein, a highly sought-after nutraceutical. Lutein is a natural antioxidant that can be found in a range of health items. Oleoresin is also used in the feed of poultry animals.
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Global Marigold Oleoresin Market: Growth Drivers
- Marigold oleoresin oil is frequently utilized in the food & beverage industry for coloring and pigmentation. Due to its expanding usage as a natural colorant in many dishes, the food & beverage business is considered a major end user of the global marigold oleoresin market.
- Recent pharmaceutical clinical trials have discovered that marigold oleoresin provides a variety of dermatological advantages too. Due to its medicinal characteristics, marigold oleoresin is extensively used in the pharmaceutical industry.
Global Marigold Oleoresin Market: Key Competitors
- Xiamen Boten Biological Technology Co., Ltd
- Chenguang Biotech Group Co., Ltd
- Olive Lifesciences Private Limited
- Aturex Nutritionals
- AVT Natural Products
- Handan Deyuan Bio-Tech Co., Ltd
- Xiamen Boten Biological Technology Co., Ltd
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Global Marigold Oleoresin Market: Segmentation
Nature
- Organic
- Conventional
Extraction Method
- Solvent Extraction
- Supercritical Fluid Extraction (SFE)
End Use
- Pharmaceuticals
- Food & Beverage Industry
- Cosmetics
- Feed
Distribution Channel
- B2B
- B2C
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