Essential Oils Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2028
Essential Oils Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2028
Report Digest
Global Essential Oils Market: Overview
Growing consumer preference and adoption of alternative medical treatments like aromatherapy over conventional pharmaceutical drugs is likely to drive the global essential oils market. Rapid growth of end-use industries such as aromatherapy, personal care & cosmetics, and food & beverage has changed into an upswing in the demand for essential oils. The global essential oils market is expected to garner momentum during the forecast period, 2018-2028.
An essential oil refers to a natural product that is extracted from a single plant species. Not all plants can produce essential oils. The in the essential oil producing plants, the essential oil may be found in the fruits, leaves, roots, flowers, and stems. Plants themselves also utilize essential oils. Naturally occurring essential oils in plants assist in the control of infection, wound healing, control of hormonal effects, humidity and attract or repel animals, birds, and insects.
The global market for essential oils has been segmented on the basis of the following parameters: product, application, and region.
Global Essential Oils Market: Notable Developments
The market dynamics of the global essential oils market have become better recently. Some of the prominent developments relating to the competitive landscape of global essential oils market are:
- US-based essential soil seller Young Living together with CNN Philippines has announced a six part docuseries that tells the story of essential oil production.
- In October 2016, Biolandes group expanded their footprint in Madagascar by acquired French company Golgemma. Golgemma is a supplier of certified organic essential oils and has more than 300 items in their catalog. They also have strong connections to raw materials in Madagascar.
Some of the most prominent competitors operating in the competitive landscape of global essential oils market include –
- Young Living
- Biolandes
- Rock Mountain Oils
- Moksha Lifestyle
- Flacon
- Frutarom
Global Essential Oils Market: Growth Drivers
- Numerous Health Benefits to Escalate Demand for Essential Oils
Growing dependence over organic and natural ingredients in cosmetic formulations is predicted to promote the demand of the essential oils. These oils have wide range of applications in hair care, skin care, and perfumes. It is used for natural preservation, fragrance, and therapeutic qualities. Therapeutic qualities comprise dandruff and hair fall control, anti-aging, and skin rejuvenating. Shifting consumer preference towards sustainable natural ingredients with multifunctional qualities is expected to escalate demand for essential oils globally.
Essential oils also find its application in the making of pharmaceutical drugs due to their virucidal, antiparasitic, fungicidal, insecticidal, and bactericidal effects. As such, essential oil is used to treat respiratory problems, dental issues, and skin disease.
Global Essential Oils Market: Regional Outlook
Europe led by countries like Germany, Italy, France, and the UK may witness strong gains, in between 2019 to 2027. Presence of numerous cosmetic making companies in the European region is likely to drive regional growth of the industry. Consumers’ inclination towards natural ingredients in cosmetic products together with environmental sustainability of these materials is likely to surge demand of essential oils regionally.
Asia Pacific led by China, South Korea, India, and Japan is poised for impressive growth by 2027. Growing implementation of supportive agriculture techniques particularly in China and India resulted in augmented production of particularly plants like clove, peppermint, lemon, and orange are expected to fuel market growth.
In addition to that, emerging trend of spa & relaxation coupled with rising consumer spending on wellness may fuel growth of the Asia Pacific essential oil market.
The global essential oils market is segmented as:
On the basis of product
- Orange oil
- Lemon oil
- Eucalyptus oil
- Clove oil
- Peppermint oil
- Jasmine oil
- Rosemary oil
- Corn Mint oil
- Citronella oil
- Geranium oil
- Spearmint oil
- Lavender oil
- Tea Tree oil
- Others
On the basis of application
- Pharmaceuticals
- Food & Beverages
- Aromatherapy
- Cosmetics & Toiletries
- Animal feed
- Cleaning & Homecare
- Fragrances
- Others
This study provides a particularized anatomy according to the L.E.A.P mechanism
- Latest trends and cardinal growth prospects
- Existing and future insights in growth
- Ascensions in technology
- Pain points
The regional analysis offers market assays across:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
Pain Points
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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