Marigold Oleoresin Market Outlook 2032
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The global marigold oleoresin market is estimated to value US$ 65.8 Mn in 2022
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It is estimated to expand at a CAGR of 7.6% from 2022 to 2032
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The global marigold oleoresin market is expected to reach the value of US$ 136.7 Mn by the end of 2032
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.
Rise in Application of Marigold Oleoresins in Pharmaceutical Industry
Marigold oleoresins are widely used in the pharmaceutical industry due to their anti-cancer and antioxidant properties as well as therapeutic and healing properties. Marigold oleoresins help in reducing free radicals in the human body. These oleoresins are yellow in color due to the presence of component called lutein. Marigold oleoresins can be helpful when stomach is upset, or any digestive complexity occurs. It can also be used in cosmetics and personal care products.
Marigold oleoresin is an alternative option for healing bacterial infections in wounds. Carotenoids is an important component found in marigold oleoresins, and help to control the infection caused by acne and burns. Lowering the inflammation is also a major driving factor accelerating the demand for marigold oleoresin in the pharmaceutical industry. Marigold oleoresin is effective in curing AMD (Age-related Macular Degeneration).
Use of Marigold Oleoresin in Food Industry
The increasing demand for marigold oleoresin in the food & beverage industry is expected to drive the global market during the forecast period. The main purpose is to enhance the flavor of the food items. This ingredient used to color food, alcoholic beverages, snacks, pastries, and jellies. The growing popularity of marigold oleoresins as flavoring agent in the food processing industry is creating revenue opportunities for market players. Several health advantages and unique color characteristics of carotenoid pigments present in these oleoresins are expected to drive the market in the upcoming years.
In addition, increasing applications of marigold oleoresin in baking foods, frozen foods, jam & jellies, infant formula food, beverages, etc. is fueling global market. Marigold oleoresin is also used in animal feed and poultry to color the broiler skin and egg yolks.
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.