Tagetes Oil Market Set to Witness an Uptick during 2019 2029
Posted by Arslan on October 11th, 2019
The global tagetes oil market is likely to witness higher single-digit CAGR over the forecast period due to increasing overall cultivation area of tagetes globally. The native regions of tagetes oil, including North America, Europe, Oceania and the Middle East & Africa remained the key producers by 2018-end. These regions are expected to witness steady growth rate during the foretell period. Among other regions, East Asia, South Asia and Latin America are estimated to witness a strong year-on-year growth rate on the backdrop of increasing research & development activities and growing industrialization in these regions. The global market for Tagetes Oil Market is anticipated to create lucrative opportunities over the forecast period owing to increasing demand for essential oils across the globe.
Like several other essential oils, tagetes oil is also known for its wide applications and health benefits in several end-use industries, including food, pharmaceutical, skin care, cosmetics and other industries. The growing demand for essential oils along with the increasing consumer preference for aroma chemicals is expected to upsurge the global sales of tagetes oil market across the globe in the coming years. The overall price of tagetes oil has been stable during the historical period but the global market for tagetes oil is anticipated to witness slight increment in the prices owing to outweighing demand for tagetes oil across the developed and emerging economies. The global tagetes oil market is a house of several local and global industry giants with their long chain of supplier and distributors network at regional and global level.
Transforming consumers’ preference is currently trending in the global tagetes market
The global demand for tagetes oil is proliferating across the globe, owing to increasing expansion in the extraction processes of tagetes oil. Over the years, the global essential oil industry has transformed due to changing consumers’ preference and rising penetration of online retailers in the market. After the stable supply-demand phase, the overall scenario of the tagetes oil market has transformed in the last 1-2 years due to several growth factors. Some of the market driving factors include low cost of tagetes oil, expanding arable land, growing health awareness and rising number of new entrants among others, which is expected to drive the global tagetes market during the forecast years from 2019-2029.
Rising penetration of online retailers to amplify overall supply chain of global tagetes oil market
The tagetes oil market can be segmented on the basis of source, grade, extraction methods, end-use application, sales channel and functionality. On the basis of source, the tagetes oil market can be segmented into leaves, stem, stalk and flowers. On the basis of grade, the tagetes oil market can be segmented into industrial grade, therapeutic grade and food grade. On the basis of extraction methods, tagetes oil market can be categorized into steam distillation and solvent extraction. On the basis of end-use application, tagetes oil market can be categorized into B2C and B2B (food, pharmaceutical, skin care, cosmetics, and others).
On the basis of sales channel, the tagetes oil market can be segmented into modern trade, direct sales, specialty stores, convenience stores, departmental stores, online retailers (company online channel and third-party online channel), and other retail formats. On the basis of functionality, the tagetes oil market can be segmented into antioxidant agents, anti-inflammatory agents, antimicrobial agents, antiseptic agents and others. The global market for tagetes oil can be segmented into seven regions: North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa.
Expansion in the production capacity to remain key focus area for tagetes oil processors
Key processors in the global tagetes oil market are continuously focusing on increasing their production capacity and minimizing supply-demand of tagetes oil. Some of the market participants in the global tagetes oil market include R K Essential Oils Company, Eden Botanicals, Aramacs, Synthite Industries Ltd., Ikirezi Natural Products and Berje, Inc., among other prominent players in tagetes oil market.
The research report presents a comprehensive assessment of the tagetes oil market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to tagetes oil market segments such as geographies, source, grade, extraction methods, end use application, sales channel, and functionality.
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About the AuthorArslan
Joined: December 18th, 2017
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