Tagetes Oil Market size is forecast to reach, after growing at a CAGR of 6.5% during 2020-2025. With rise in treatment of skin infections and small wounds, owing to its antiseptic and antimicrobial properties, the Tagetes Oil market is witnessing an increase in demand. Growing public awareness towards skin diseases will further enhance the overall market demand for Tagetes Oil during the forecast period.
The report: “Tagetes Oil Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Tagetes Oil Industry.
By Type – African/Aztec Marigold (Tagates erecta), French Marigold (Tagetes patula), Others
By Application – Medicine, Pesticide, Cosmetic, Others.
By Geography – North America, South America, Europe, APAC, RoW.
- Asia-Pacific dominates the Tagetes Oil market owing to increasing demand from applications such as Medicine, Pesticide, Cosmetic, among others.
- Tagetes oil ability to work for various skin diseases, is likely to aid in the market growth of Tagetes Oil.
- Increasing adoption of ayurvedic medicines, implementation of stringent government regulations related to ayurvedic medicines will increase the market demand for Tagetes Oil in the near future.
- Impact of Covid 19 globally, will create hurdles for the Tagetes Oil market.
Type of Tagetes - Segment Analysis
African/Aztec marigold (Tagates erecta) holds the largest market share in the Tagetes oil market, as especially South Africa in Africa is the largest producer of Tagetes oil. These fast-growing plants feature beautiful flowers in hues of red, orange, and yellow. T. minuta, also known as T. glanduliflora, has daisy-like flowers that are either orange or yellow. T. minuta oil should be yellow to orange in color. It blends well with citrus oils like bergamot (Citrus bergamia) and grapefruit (Citrus paradisi). It also pairs well with clary sage (Salvia Sclarea), lavender (Lavandula angustifolia) and both German and Roman chamomile.
Application - Segment Analysis
Medicine holds the largest market share in the application segment of Tagetes Oil market. Tagetes oil is a photosensitizer, so it should not be used on the skin before going into the sun or using a tanning bed. It has been known to cause dermatitis and may cause irritation in people with sensitive skin, so a skin patch test is highly advisable. This oil should be used in moderation. Do not use while pregnant or nursing. Tagetes can be used for skin problems like athlete's foot, bunions, calluses, corns, and more. Mix five drops of the essential oil into a teaspoon of a carrier oil and dab on problem areas. For athlete's foot, you can add 8-10 drops into a cup of Epsom salts and mix well. Add half a cup of vinegar to water, as warm as you can stand it, and swish in the oiled salt. Soak for half an hour. So, these kinds of various medicines are used from the tagetes oil which will increase the demand for this market.
Geography - Segment Analysis
APAC dominated the Tagetes Oil market with a share of more than x%, followed by Middle East and Europe. Countries such as China, India, among others are the largest producers of Tagetes Oil in this region. Different parts of the Tagetes species are used as remedies to treat various health problems, including dental, stomach, intestinal, emotional, and nervous disorders, as well as muscular pain, across the world. Furthermore, these plants are studied in the field of agriculture for their fungicidal, bactericidal, and insecticidal activities. The phytochemical composition of the extracts of different Tagetes species parts are reported in this work. These compounds exhibit antioxidant, anti-inflammatory, and enzyme inhibitory properties. Cultivation and the factors affecting the chemical composition of tagetes species are also covered.
Drivers – Tagetes Oil Market
- Awareness in public towards tagetes oil, ability to eliminate Insects
People are generally feeling irritated due to the appearance of so many insects mainly in rainy season. Whereas the tagetes essential oil is lethal to insects and kills them. Therefore, it keeps away parasitic insects such as mosquitoes, fleas, bedbugs, and lice. Common household insects such as cockroaches, ants, white ants, or termites are also kept away. Keeping bedbugs away in the PG and rental flats are the very requirement. It is also used as an antifungal agent which is favouring market growth of Tagetes Oil.
- Implementation of Stringent Environment Regulations
Governments globally are focusing on boosting the ayurvedic medicines, as ayurvedic medicines don’t have any side effects in accordance with which will further boost the adoption of Tagetes Oil. Ayurvedic medicine is one of the world’s oldest medical systems and remains one of India’s traditional health care systems. Ayurvedic treatment combines products (mainly derived from plants, but may also include animal, metal, and mineral), diet, exercise, and lifestyle.
Challenges – Tagetes Oil Market
- Impact of COVID 19 on Tagetes oil
The rapid spread of coronavirus has had a major impact on global markets as, major economies of the world are completely lockdown due to this pandemic. Because of this major lockdown, suddenly all the consumer market has started to show zero interest towards purchasing any goods. One of the major difficulties, market is facing are the shutdown of all kinds of International transportation. Global crisis for all sectors including shipping, which was hit by slowing demand in goods’ production and exports had slowdown the market for Tagetes Oil.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Tagetes Oil market. In 2019, the market of Tagetes Oil has been consolidated by the top five players accounting for xx% of the share. Major players in the Tagetes Oil Market are R K Essential Oils Company, Essentially Australia, TM Kobashi Essential Oils, Lotus Oils, Mother Herbs (P) Ltd., India Essential Oils, Synthite Industries Ltd., among others.
- In July 2019, Young Living Essential Oils, the world leader in essential oils, announced its acquisition of Nature's Ultra. Nature's Ultra, with its more than 1,500 acres of hemp farms in Colorado, will continue to operate independently to provide industry-leading CBD products that are natural, organic, vegan approved, and gluten free, and with the added benefits of Young Living's industry leadership and expertise in offering the highest quality oil-infused products.