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According to a recent study conducted on marigold oleoresin market by Transparency Market Research, it was found that the market is expanding at approximate CAGR of 7.6% to reach US$ 136.7 Mn by 2032. Marigold oleoresin is a valuable product that is extracted from dried marigold flower powder using a solvent and then removed to leave only trace residues. The pigment lutein is present in ester form in the oleoresin.
Marigold oleoresin is utilized as a starting material for the purification of lutein, a valuable nutraceutical in high demand. Oleoresin is also utilized in poultry feeding. Pure lutein can be found in a variety of health products. Marigold oleoresin is largely used in food & beverage applications as food colorants. It is widely used to add color and flavor to wide range of cuisines.
The European market for marigold oleoresin holds majority value share of more than 25% of the global marigold oleoresin market. It is estimated to be valued at approximately US$ 18.7 Mn in 2022 and is forecast to grow at approximate CAGR of 8% to reach US$ 40.6 Mn by 2032 for the region.
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Benefits of Marigold Oleoresin to Provide Opportunities for Market Growth
Marigold oleoresin has been found in recent pharmaceutical clinical studies to offer various benefits for dermatological functions. Marigold oleoresin is commonly implemented in the pharmaceutical sector due to its therapeutic properties. Lutein, which neutralizes free radicals, is effective in curing AMD (Age-related Macular Degeneration) and enhancing eye health. The yellow pigment is very well known for its anti-cancer and antioxidant properties. It has antibacterial effects and is used to treat acne and burns. It is used in animal feed, notably in poultry, to color the broiler skin and egg yolks.
Marigold is a traditional medicinal herb with a wide range of pharmacological properties. It is critical to extract and study the specific bioactive chemicals found in marigolds. Increasing consumer awareness of the product’s health benefits has driven pharmaceutical producers to prioritize the inclusion of marigold oleoresin extracts into medicine formulations. The product’s multiple health benefits, along with growing product demand for medicinal formulations, are expected to boost the market throughout the projected period.
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Increase in Demand for Flavor and Aroma in Food to Drive Market Growth
Food ingredient used to color food, alcoholic beverages, pastries, snacks, beverages, and jellies. As the minimum strength needed in most food applications is 10%, oleoresin extracts are available in concentrations ranging from 10% to 18%. These oleoresins are mainly utilized as the flavoring agent in the food processing industry.
The demand for marigold is increasing due to their distinctive color characteristics, which can be attributed to the presence of carotenoid pigments, which give substantial health advantages in several foods, and drive market expansion throughout the forecast period. Moreover, oil soluble marigold oleoresin is a dark brown oleoresin with a marigold aroma; when heated, it transforms into an oily liquid that dissolves easily in oil. Furthermore, water soluble marigold oleoresin is a bright orange liquid or powder that has been converted from an oil-soluble type. It disperses easily in water. The product finds its applications commonly in baking, beverages, frozen foods, jelly, jam, and infant formula food.
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