Marigold Market
Marigold Market Forecasts to 2030 - Global Analysis By Product Type (African Marigolds, French Marigolds, Calendula, Mexican Mint Marigold, Lemon Marigolds and Other Product Types), Breeding Technique, Form, Application, End User and By Geography
According to Stratistics MRC, the Global Marigold Market is growing at a CAGR of 7.3% during the forecast period. Marigold, also known as Tagetes, is the common name for a genus of plants that includes both annual and perennial plants. Most species in this genus are herbaceous plants native to Southern Mexico. Marigolds are annual plants, which mean that they live for only one year. The most popular varieties include the French and African marigolds. Marigolds usually grow to a height of about 1 to 5 feet. From culinary surprises to medicinal promises, from garden warriors to cultural ambassadors, marigolds continue to blossom with unexpected uses, reminding us that beauty often holds hidden depths.
Market Dynamics:
Driver:
Increased demand for natural and sustainable products in the textile and dye industry
As the textile industry seeks eco-friendly alternatives, the increased utilization of marigold extracts enhances the market value of specific varieties with high pigment content. This trend not only fosters economic opportunities for marigold growers but also promotes market differentiation for textile manufacturers adopting sustainable practices. Furthermore the global shift towards sustainability opens doors for marigold-derived dyes, driving innovation in extraction techniques and creating new revenue streams are propelling the growth of the market.
Restraint:
Sensitivity to extreme temperatures and climate conditions
Heat stress or frost damage can lead to crop loss and reduced yields, impacting farmers' income. Geographical limitations and cultivation constraints in regions prone to temperature extremes restrict the global reach of marigold farming. Increased production costs for protective measures, such as shade structures, and the impact on flower quality further contribute to market challenges.
Opportunity:
Popular choices for ornamental purposes in gardens and landscaping
The consistent demand for marigolds in ornamental gardening significantly drives sales of marigold seeds and plants. This popularity fosters the expansion of the market, prompting ongoing breeding programs to develop new varieties. The trend influences landscaping practices, contributing to horticultural and gardening industry trends. Furthermore, the cultural significance of marigolds in decorative settings and festivals enhances their market appeal. The resilience of the ornamental segment creates stability within the broader marigold market.
Threat:
Fluctuations in marigold supply
Inconsistent availability due to weather conditions or other factors can lead to unpredictable market prices, affecting both producers and consumers. The cut flower industry may experience challenges with shortened shelf life and quality variations. Export-oriented markets face disruptions, impacting international trade. Such supply uncertainties can deter long-term investments and planning for growers. Additionally, the reputation of marigold products may suffer, as reliability and consistent availability are crucial in sustaining market demand hampering the market growth.
Covid-19 Impact
COVID-19 lockdowns and restrictions could have disrupted the supply chains for marigold cultivation, harvesting, and distribution. With events, weddings, and gatherings being canceled or postponed, the demand for cut marigold flowers in the floral industry may have decreased. Moreover increased interest in home gardening during lockdowns may have partially offset losses in the ornamental gardening segment.
The african marigolds segment is expected to be the largest during the forecast period
The african marigolds segment is estimated to have a lucrative growth, as african marigolds are known for their large, full blooms and vibrant colors, making them popular choices for ornamental purposes. African marigolds, with their larger blooms, may be sought after in the cut flower market. Their use in floral arrangements and bouquets can contribute to market trends in the floral industry. Companies specializing in seed production and sales may experience shifts in demand based on the popularity of African marigold varieties boosting the market.
The natural dyes & pigments segment is expected to have the highest CAGR during the forecast period
The natural dyes & pigments segment is anticipated to witness the highest CAGR growth during the forecast period, marigolds, traditionally known for ornamental purposes, find a new market in the textile and dye industry as a source of natural colorants. The demand for natural and sustainable products in the textile and dye industry can drive an increase in demand for marigold extracts as natural dyes and pigments thereby marigold market.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period because countries in the Asia Pacific region, such as India and China, are significant producers of marigolds. Marigolds are commonly used for ornamental purposes in gardens, public spaces, and landscaping projects. Moreover certain varieties, especially Calendula officinalis, may be cultivated for their medicinal properties for use in herbal and skincare products. Thus the growing interest in gardening and landscaping contributes to the demand for ornamental flowers like marigolds in this region.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to consumer interest in home gardening may impact the demand for marigold seeds and plants. Additionally extracts from marigold may find applications in skincare and cosmetic and increased adoption of marigolds in garden centers and nurseries, driven by gardening trends. Hence ongoing research and breeding programs for developing new marigold varieties with improved characteristics are driving the growth of the market in this region.
Key players in the market
Some of the key players in the Marigold Market include Kingherbs Limited, Syngenta Flowers, Vanilla Food Company, Agri Starts Corporation, KPS Green, PanAmerican Seed, Pioneer Herb Products, GreenEarth Nutraceuticals, Zelang Medical Technology Co., Ltd., Veeda Clinical Research Pvt Ltd, Mountain Valley Seed Co., Boditreat Essentials Ltd., Sarvoday Sat Isabgol Factory, Pioneer Herb Products, Bhagwati Trading Company, Van Drunen Farms, Modern Agro and Tagetes Ltd.
Key Developments:
In April 2022, Syngenta Flowers announced the launch of myFiora: a new order entry platform where customers can place orders at their own convenience. Another great addition is the ability to download a product overview and upload an order request for the upcoming season.
In August 2021, The Van Drunen Family of Companies and SouthAm Freeze Dry (""SouthAm"") announced a new partnership whereby Van Drunen Farms will take a majority stake in SouthAm.
Product Types Covered:
• African Marigolds
• French Marigolds
• Calendula
• Mexican Mint Marigold
• Lemon Marigolds
• Other Product Types
Breeding Techniques Covered:
• Hybridization
• Pedigree Breeding
• Polyploidy
• Male Sterility
Forms Covered:
• Dried
• Fresh
Applications Covered:
• Natural Dyes & Pigments
• Essential Oils & Aromatherapy
• Landscaping & Public Spaces
• Religious & Cultural Events
• Gardening
• Culinary Use
• Other Applications
End Users Covered:
• Herbal Supplement Industry
• Skincare & Cosmetics Industry
• Textile Industry
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Marigold Market, By Product Type
5.1 Introduction
5.2 African Marigolds
5.3 French Marigolds
5.4 Calendula
5.5 Mexican Mint Marigold
5.6 Lemon Marigolds
5.7 Other Product Types
6 Global Marigold Market, By Breeding Technique
6.1 Introduction
6.2 Hybridization
6.2.1 Inter-Varietal Hybridization
6.2.2 Inter-Specific Hybridization
6.3 Pedigree Breeding
6.4 Polyploidy
6.5 Male Sterility
7 Global Marigold Market, By Form
7.1 Introduction
7.2 Dried
7.3 Fresh
8 Global Marigold Market, By Application
8.1 Introduction
8.2 Natural Dyes & Pigments
8.3 Essential Oils & Aromatherapy
8.4 Landscaping & Public Spaces
8.5 Religious & Cultural Events
8.6 Gardening
8.8 Culinary Use
8.8 Other Applications
9 Global Marigold Market, By End User
9.1 Introduction
9.2 Herbal Supplement Industry
9.3 Skincare & Cosmetics Industry
9.4 Textile Industry
9.5 Other End Users
10 Global Marigold Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Kingherbs Limited
12.2 Syngenta Flowers
12.3 Vanilla Food Company
12.4 Agri Starts Corporation
12.5 KPS Green
12.6 PanAmerican Seed
12.7 Pioneer Herb Products
12.8 GreenEarth Nutraceuticals
12.9 Zelang Medical Technology Co., Ltd.
12.10 Veeda Clinical Research Pvt Ltd
12.11 Mountain Valley Seed Co.
12.12 Boditreat Essentials Ltd.
12.13 Sarvoday Sat Isabgol Factory
12.14 Pioneer Herb Products
12.15 Bhagwati Trading Company
12.16 Van Drunen Farms
12.17 Modern Agro
12.18 Tagetes Ltd.
List of Tables
1 Global Marigold Market Outlook, By Region (2021-2030) ($MN)
2 Global Marigold Market Outlook, By Product Type (2021-2030) ($MN)
3 Global Marigold Market Outlook, By African Marigolds (2021-2030) ($MN)
4 Global Marigold Market Outlook, By French Marigolds (2021-2030) ($MN)
5 Global Marigold Market Outlook, By Calendula (2021-2030) ($MN)
6 Global Marigold Market Outlook, By Mexican Mint Marigold (2021-2030) ($MN)
7 Global Marigold Market Outlook, By Lemon Marigolds (2021-2030) ($MN)
8 Global Marigold Market Outlook, By Other Product Types (2021-2030) ($MN)
9 Global Marigold Market Outlook, By Breeding Technique (2021-2030) ($MN)
10 Global Marigold Market Outlook, By Hybridization (2021-2030) ($MN)
11 Global Marigold Market Outlook, By Inter-Varietal Hybridization (2021-2030) ($MN)
12 Global Marigold Market Outlook, By Inter-Specific Hybridization (2021-2030) ($MN)
13 Global Marigold Market Outlook, By Pedigree Breeding (2021-2030) ($MN)
14 Global Marigold Market Outlook, By Polyploidy (2021-2030) ($MN)
15 Global Marigold Market Outlook, By Male Sterility (2021-2030) ($MN)
16 Global Marigold Market Outlook, By Form (2021-2030) ($MN)
17 Global Marigold Market Outlook, By Dried (2021-2030) ($MN)
18 Global Marigold Market Outlook, By Fresh (2021-2030) ($MN)
19 Global Marigold Market Outlook, By Application (2021-2030) ($MN)
20 Global Marigold Market Outlook, By Natural Dyes & Pigments (2021-2030) ($MN)
21 Global Marigold Market Outlook, By Essential Oils & Aromatherapy (2021-2030) ($MN)
22 Global Marigold Market Outlook, By Landscaping & Public Spaces (2021-2030) ($MN)
23 Global Marigold Market Outlook, By Religious & Cultural Events (2021-2030) ($MN)
24 Global Marigold Market Outlook, By Gardening (2021-2030) ($MN)
25 Global Marigold Market Outlook, By Culinary Use (2021-2030) ($MN)
26 Global Marigold Market Outlook, By Other Applications (2021-2030) ($MN)
27 Global Marigold Market Outlook, By End User (2021-2030) ($MN)
28 Global Marigold Market Outlook, By Herbal Supplement Industry (2021-2030) ($MN)
29 Global Marigold Market Outlook, By Skincare & Cosmetics Industry (2021-2030) ($MN)
30 Global Marigold Market Outlook, By Textile Industry (2021-2030) ($MN)
31 Global Marigold Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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