Pune, 24, Nov 2022: The global Essential Oil Market report was recently published by Maximize Market Research, a major Food & Beverage consulting firm. The report discusses industry trends, major sectors, viable investments in various regions, demand and supply networks, regional environments, and competitive situations in depth. The research is a valuable resource for important market players, new entrants, investors, and stakeholders who are developing plans and working to improve the reputation of their brands. The global Essential Oil Market was valued at USD 10.3 billion in 2021, and it is expected to grow to USD 21 billion by 2029, at a CAGR of 9.31% over the forecast period, according to MMR research.
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Essential Oil Market Scope and Research Methodology
The global Essential Oil Market report is an in-depth analysis of significant trends and future market dynamics in the Essential Oil Market Industry, which will aid customers in discovering business opportunities and developing market strategies. The Essential Oil Market research report, among other things, covers product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, industry national policy and planning analysis, and the most recent dynamic analysis.
The analysis focuses on the overall market’s drivers, opportunities, challenges, and constraints. In addition, the report outlines the influence of these various drivers, trends, and restraints on market demand during the forecast period. The report also looked into market possibilities on a global scale. In terms of production bases and technologies, the research comprises the production time, base distribution, technical features, research and development trends, technology sources, and raw material sources of the major Essential Oil Market enterprises.
The more detailed report analysis also includes the principal market and consumer application sectors, significant areas and consumption, major producers, distributors, raw material suppliers, and equipment providers, as well as contact information, and an industry chain relationship analysis. The study included in this report also includes product specifications, production methods, cost structure, and data information arranged by location, technology, and application. The goods and services provided by key companies, revenue, economic position in the global market, investment plan, growth strategy, and geographical presence are all investigated. Recent acquisitions and mergers, as well as company strategic orientations and information on cooperative alliances, give a realistic picture of the competitive environment in the Essential Oil Market.
For market estimation and forecasting, the bottom-up technique is applied. To get accurate findings, data was collected from a large sample using both primary and secondary research approaches. Secondary data was gathered from a diverse selection set of sources to ensure the consistency of the results. This comprises official databases from various organizations and government websites, industry periodicals, newspapers, annual reports from major corporations, manufacturer and supplier publications, and paid databases. Surveys, questionnaire administration, and telephone interviews with industry experts, market leaders, entrepreneurs, and marketing professionals are used to acquire primary data. SWOT analysis was used to evaluate significant organizations’ strengths and weaknesses, while PORTER and PESTLE were performed to analyze various economic issues. Finally, the report provided an in-depth assessment of the Essential Oil Market.
Essential Oil Market Overview
Essential oils are mostly derived from the roots, seeds, flowers, fruits, and leaves of the same plant species by expression, steam distillation, and carbon dioxide derivation. It is used to make sprays, soaps, showers, and cleaning gels. Growing demand from major end-use sectors such as food & beverage, personal care & cosmetics, and aromatherapy is expected to boost the Global Essential Oils market.
Numerous essential oil-related health benefits are projected to fuel their demand in pharmaceutical and medical applications. Essential oils, unlike most conventional medications and chemicals, have no significant negative effects. Such essential oil properties are expected to be a crucial element in market growth. Additionally, the rising frequency of health issues such as cardiovascular disease, Alzheimer’s disease, and bronchitis is driving demand for therapeutic essential oils in aromatherapy applications.
Essential Oil Market Dynamics
Aromatherapy is the therapeutic and cosmetic use of essential oils. Essential oils are extensively used in aromatherapy because they aid both physiological and psychological activity in the body. Aromatherapy was originally thought to be a complementary treatment, but it is now recognized as a mainstream therapy. The increased demand for aromatherapy may be attributed to a variety of factors, the most obvious of which is the overall growth in affluence over the previous decade. Consumer tastes and preferences have shifted toward more complicated things as income has increased.
In addition, the market is expected to grow because of increased demand from major end-use industries such as food and beverage, personal care and cosmetics, and aromatherapy. Unlike most conventional drugs and chemicals, essential oils have no severe side effects. These features are expected to be the key driving force behind the market growth.
Key raw material suppliers include Essential Oils Company, Kao Chemicals, The Fragrance Foundation, The Chemical Company, and Phoenix Aromas and Essential Oils, LLC. Companies such as Biolandes, India Essential Oils, and Young Living Essential Oils have integrated their operations to provide raw materials as well as finished products to cut raw material procurement and operational costs. This also allows businesses to target other industries that use raw chemicals, such as perfumes and deodorants, and food and beverages.
Essential Oil Market Segmentation
- Orange oil
- Lemon oil
- Lime oil
- Peppermint oil
- Cornmint oil
- Citronella oil
- Spearmint oil
- Geranium oil
- Clove leaf oil
- Eucalyptus oil
- Jasmine oil
- Tea tree oil
- Rosemary oil
- Lavender oil
By Method Of Extraction
- Carbon dioxide extraction
- Cold press extraction
- Solvent extraction
- Food & beverage
- Cosmetics & toiletries
- Home care
- Health care
Essential Oil Market Regional Insights
Europe had the biggest market share of 43.65% in 2021 and is expected to maintain its dominance throughout the forecast period. The presence of organizations such as the EFEO has aided the growth of the sector in Europe. EFEO was created to support and protect the interests of stakeholders along the market value chain. The group is in talks with the European Commission and the EU Parliament to change or submit laws on essential oils. Such developments have aided market growth in the European Union. The availability of abundant feedstock and the presence of several industry participants are the driving forces behind the region’s rapid market development. A well-established economy with a high quality of living contributes to the growth of essential end-use industries.
Essential Oil Market Key Competitors:
- West India Species, Inc.
- Sydney Essential Oils Co. Pty Ltd.
- doTERRA International
- Farotti SR
- Rocky Mountain Essential Oils
- Young Living Essential Oils
- Moksha Lifestyle Products
- India Essential Oil
- Ungerer Limited
- Essential Oils of New Zealand
- Flavex Naturextrakte GmbH
- H.Reynaude & Fils
- Moksha Lifestyle Products
- Cargill, Inc.
- Koninklijke DSM N.V.
- Givaudan SA
- Sensient Technologies Corporation
- ROBERTET SA
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Key questions answered in the Essential Oil Market are:
- What is Essential Oil Market?
- What is the growth rate of the Essential Oil Market over the forecast period?
- What is the nature of competition in the Essential Oil Market industry in developed economies and developing economies?
- Who are the key players in Essential Oil Market?
- Who are the market leaders in Essential Oil Market in Europe
- Who are the market leaders in Essential Oil Market in USA and Canada
- Who are the market leaders in Essential Oil Market in India, China, Japan, and South Korea?
- What are the factors affecting growth in Essential Oil Market?
- Who held the largest market share in Essential Oil Market?
- What are the factors for the growth of the Asia-Pacific region in the Essential Oil Market?
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Type, Method of Extraction, Application, Facility of use, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Maximize Market Research is leading Food & Beverages research firm, has also published the following reports:
Poppy Seed Market: the Poppy Seed Market was valued at USD 218.71 Million in 2021 and is predicted to grow at a CAGR of 3.8 % to USD 294.74 Million by 2029. One of the primary driving drivers of the global poppy seed market is the rapid increase in demand for poppy seeds from the baking sector. The growing popularity of poppy bread goods has had a substantial impact on poppy seed demand in recent years.
Perfume Market: the Perfume market was valued at USD 34.61 Billion in 2021, and it is expected to reach USD 49.22 Billion by 2029, exhibiting a CAGR of 4.5 % during the forecast period. The growth of the perfumes market is primarily influenced by continuously changing and unpredictable fashion trends. Thus, key market players are aiming for developing unique, sensational, and fresh fragrances to attract different consumer groups across the world.
Krill Oil Market: the Krill Oil Market was valued at USD 345.71 Mn in 2021 and is expected to reach USD 855.97 Mn. The Krill Oil Market size is expected to grow at a CAGR of 12% through the forecast period. The market’s demand for krill oil products is most likely to be driven by rising income levels and a growing urban population. Globally, young people are becoming much more health-conscious and incorporating more nutritious foods into their diets, which drives up demand for krill oil throughout the forecast period.
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