Essential Oils Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2028
Global Essential Oils Market: Snapshot
The essential oils market has been anticipated to experience innumerable growth opportunities in the upcoming years. This market growth is on the back of various factors. The increasing consumer preference along with the adoption of alternative medical treatments such as aromatherapy compared to conventional pharmaceutical drugs has been estimated to drive growth opportunities in the essential oils market.
Rapid growth in the end-use industries, for example, food & beverage, personal care & cosmetics, and aromatherapy has been anticipated to boost growth prospects in the essential oils market. Thus, owing to increasing application, the essential oils market has been anticipated to experience demand opportunities in the years to come.
The essential oil commonly refers to the natural product that has been extracted from any single plant species. But all types of plants cannot produce essential oils. The required element that can be used to produce essential oil can be found in stems, flowers, roots, leaves, and fruits. In addition to this, plants themselves are also utilizing essential oils. The naturally occurring essential oil in the plants is helpful to repel or attract insects, birds, and animals. In addition to this, the essential oils are also used to control infection, humidity, hormonal effects, and wound healing. Thus, based on these benefits, the essential oils market has been predicted to experience noticeable growth avenues in the upcoming years.
The rising dependence on natural and organic ingredients in cosmetic formulations has been expected to create demand opportunities in the essential oils market. These oils are widely used in perfumes, skincare, and hair care. These products from the essential oils market are also applied for their therapeutic qualities, fragrance, and natural preservation. Thus, owing to these increasing applications across different industries, the essential oils market has been anticipated to experience prominent growth opportunities during the forecast period.
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:
Some of the most prominent competitors operating in the competitive landscape of global essential oils market include –
Global Essential Oils Market: Growth Drivers
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
On the basis of application
The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.
TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.
TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.
5-Point Growth Formula
The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.
The 5-point growth formula includes the following points:
Current and Future Threats
Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.
Accurate Trend Analysis
Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.
Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.
The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.
The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.
The reports offer answers to the top 7 questions that revolve around the growth of the market
Flat 10% discount on Single User License if you prebook this report
Flat 10% discount on Multiple User License if you prebook this report
Flat 10% discount on Corporate License if you prebook this report