Essential Oils Market Key Insights Based on Product Type, End-Use and Regional Demand Till 2020-2027

 

The GMI Research expects the essential oils market to expand at a significant rate. From a regional perspective, the Asia-Pacific is projected to increase at a faster CAGR owing to the easy availability of essential oil. The growing disposable income, increasing awareness associated with essential oils' functionalities, and health benefits will drive the market growth.

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Essential Oils Market Dynamics (including market size, share, trends, forecast, growth, and industry analysis)

Key Drivers

According to the analysis report held by GMI Research, the essential oils market is predicted to grow at a higher CAGR of 8.80% during the forecast period (2020-2027).

The enhanced standard of living in emerging countries, the rising disposable income among consumers, and the increasing use of essential oils in several applications, particularly food and beverages and cosmetic applications, are the major factors responsible for the growth of the essential oils market size. The drastic shift in the consumers towards organic and natural products will fuel the demand for the market. As per the essential oils market statistics, the rising working women population owing to the increasing awareness associated with women's health and hygiene, will further propel the growth of the essential oils market share in terms of revenue. The strong demand for the added flavors and fragrances and the strong adoption of natural products over chemical-based products by the consumers will bolster the growth of the global essential oils market. As per the essential oils market report, the strong demand for aromatic, personal care products is another factor contributing to the growth of the market during the forecast period. On the other edge, the factors hampering the growth of the essential oils market include less availability of raw material and side effects regarding few essential oils, and the increasing cost of the essential oils.

Product Type Segment Drivers

Based on the product type, orange oil type is predicted to increase at a higher CAGR during the forecast period due to its various health benefits, including skin elasticity, scars, firmness, and other benefits to the skin. Additionally, orange oil aids in enhancing the quality of skin, hair, and nails among consumers. On the other hand, lavender oil is expected to dominate the market in the upcoming years. This is mainly attributed to the strong demand in the food industry for dairy products, flavoring tea, and other food products. The increasing penetration of these oils in the development of cosmetic and personal care products will accelerate the market growth.

Essential Oils Market’s leading Manufacturers:

·         Cargill

·         E. I. Du Pont De Nemours and Company

·         Koninklijke DSM N.V.

·         Dōterra International LLC.

·         Givaudan SA

·         Firmenich SA

·         Young Living Essential Oils

·         Sensient Technologies Corporation

·         The Lebermuth Company Inc.

·         International Flavors & Fragrances Inc.

·         Symrise AG

Essential Oils Market Segmentation:

Segmentation by Product Type:

·         Orange Oil

·         Lemon Oil

·         Lime Oil

·         Peppermint oil

·         Corn mint Oil

·         Citronella Oil

·         Spearmint Oil

·         Geranium Oil

·         Clove leaf Oil

·         Lavender Oil

·         Others

Segmentation by Application:

·         Food & Beverage

·         Cosmetics & Toiletries

·         Aromatherapy

·         Home Care

·         Health Care

·         Others

Segmentation by Method of Extraction:

·         Distillation

·         Carbon Dioxide Extraction

·         Cold Press Extraction

·         Solvent Extraction

·         Others

Segmentation by Region:

·         North America

o   United States of America

o   Canada

·         Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·         Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·         RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a market research and consulting company that provides syndicated research reports, consulting services, and customized market research reports. Our reports are based on market intelligence studies to ensure relevant and fact-based research across numerous sectors, including healthcare, automotive, information technology & communication, FMCG, and other industries. GMI Research’s deep understanding related to the business environment helps us in generating objective strategic insights. Our research teams consisting of seasoned analysts and researchers have hands-on experience in various regions, including Asia-pacific, Europe, North America, and the Rest of the World. The market research report offers in-depth analysis, which contains refined forecasts, a bird's eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.

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