Marigold oleoresin, also called caléndula oleoresin, is a yellow-colored liquid extracted from the marigold flower. Marigold has remained a religious flower, especially in Indian culture. However, it exhibits effective medical properties and is anti-inflammatory, antifungal, and antibacterial. It is a rich source of lutein, a powerful antioxidant that protects the body from various skin infections and diseases.
It contains a rich source of Xanthophyll which is an effective antioxidant and oxy carotenoid present in the extracted marigold oleoresins. Its antiseptic properties are utilized in the treatment of acne and burns owing to the presence of carotenoids.
Marigold Oleoresin Market Dynamics: From Religious Flower To Medical Marvel
The demand for marigold oleoresins is increasing substantially owing to their microbial advantages and uniformity in flavor. Major drivers propelling the growth of marigold oleoresins including health consciousness among customers, rising consumer preferences, beauty products, and other factors are expected to surge significantly in the forthcoming years.
Marigold oleoresin has gained traction in recent pharmaceutical clinical studies since it exhibits various benefits for dermatological functions. Lutein, a natural pigment obtained from marigold flowers, is beneficial for treating age-related macular degeneration and also for improving eye health. Its antiseptic properties are utilized in the treatment of acne and burns. It is also anti-cancerous and presents antioxidant properties.
Increasing consumer awareness of the health benefits showcased by marigold oleoresin extracts in medicinal formulations is driving growth for the market. It also has digestive properties to ease discomfort during an upset stomach. Moreover, it is an alternative option for healing bacterial infections, hence strengthening its medicinal properties. The global marigold oleoresin market was valued at USD 18.7 million in 2021 and is projected to reach USD 40.6 million by 2030 at a compound annual growth rate of 7.6% during the forecast period.
Furthermore, oleoresin extracts are readily available in concentrations ranging from 10% to 18%, presenting oleoresins as a flavoring agent in the food processing industry. Since the ingredient has distinctive color characteristics, it provides substantial health advantages in several food items fueling the market for marigold oleoresin.
Marigold Oleoresin Applications Across Several End-User Industries
Apart from its medicinal properties, marigold oleoresin is likely to be driven by various other factors including its distinctive color properties of carotenoid pigments. The cosmetics and personal care industries are also projected to fuel the demand for oleoresin:
Food & Beverage Industry: The growth of the marigold oleoresin market is expected to experience growth with the increasing demand for products in the food and beverages industry owing to its properties for improving aroma and the taste of preparation. It is utilized in various food items including hard liquor, jellies, and pastries.
Cosmetic & Healthcare Industry: Cosmetic and healthcare items utilize oleoresins for treating various disorders. Rapid urbanization and increasing health consciousness among consumers are transforming their dietary preferences. The increasing demand for plant-based products and plant-based extracts is also driving growth for marigold oleoresin.
Pharmaceutical Industry: As mentioned above, marigold oleoresin is being utilized in pharmaceutical clinical trials for the treatment of dermatological problems. The rising medicinal properties are extensively contributing to the growth of the market.
Moreover, the organic and plant-based offerings from marigold oleoresin held the largest market share in the year 2020 owing to increasing consumer awareness about the health benefits the product signifies. With improving extraction technologies including Solvent Extraction & Supercritical Fluid Extraction (SFE), the global market for marigold oleoresin is expected to experience a boost in consumer demand.
What Threats are Likely to Hamper Sales of Marigold Oleoresin?
The wide applications of marigold oleoresin are expected to drive market growth. However, the increasing prices of marigold-derived products owing to their production are expected to hamper the growth of the market. Price fluctuations are dependent on and affected by the supply of raw materials for producing marigold-derived products. The market of marigold oleoresin is exhibiting laggard growth in certain underdeveloped regions with decreased consumer awareness about the product.
Increasing Demand For Oleoresin Shaping New Markets In Asia Pacific, North America
The Asia-Pacific region has been experiencing high growth owing to rising population and urbanization in developing countries. Various new markets have sprouted as a result of the tremendous growth of marigold oleoresin. The introduction of specialty stores and supermarkets/hypermarkets is driving growth in the region.
Population growth and rising disposable income in emerging nations have recently fueled the market expansion. Additionally, with increasing government investment and favorable initiatives, marigold oleoresin has experienced exponential growth in both China and India. New industrial technology in regions including China, India, Vietnam, Indonesia, and Malaysia are emerging as the world’s leading producers and exporters of marigold oleoresin.
Furthermore, North America is emerging as the region with the highest growth owing to heavy investments in research and development of marigold oleoresin extraction technologies. Supercritical fluid extraction (SFE) and solvent extraction is being increasingly utilized to produce oleoresin products.
Marigold Oleoresin: Exhibiting a Blooming or Withering Future?
The key players of the marigold oleoresin market including Young Living Essential Oils, Edens Garden, Mountain Rose Herbs, and others have established their dominance in the marigold oleoresin market with higher integration throughout the value chain and long-term contractual partnerships with raw material suppliers. With more investment into the product innovation sector, the reduction in prices of raw materials is expected to drive immense growth in the market.
With improved technology and better growth opportunities, more players are expected to flourish in the upcoming years. For instance, the manufacturers of marigold oleoresin are focussing their attention on creating awareness about marigold-derived products to demand improved products. Moreover, the processors of marigold oleoresin are expected to benefit in the long run from quality certifications and labels.
For instance, Ozone Natural Pvt. Ltd. acquired a number of quality certifications to enhance the adoption of marigold oleoresin’s product range in various end-user industries. It acquired Halal, FSSAI, Organic, and ISO certifications from multiple globally accredited agencies providing certifications for marigold oleoresin. This is expected to continue fueling the market during the forecast period and in the years to come.