Pune, India, October 26, 2021 (GLOBE NEWSWIRE) – The global essential oils market is expected to grow in importance, reaching US $ 18.25 billion by 2028, with a CAGR of 9.57% over the forecast period. This information is provided by Fortune Business Insights ™ in its report, entitled “Essential Oils Market, 2021-2028”. The report further notes that the market was worth $ 8.74 billion in 2020. The increasing trend towards green consumption and natural inputs for food preservation and sensory aspects should increase the demand for the product.
The companies continue to focus on introducing new products. For example, Robertet, a natural ingredient maker, launched encapsulated powdered essential oil in June 2019. This oil can be used as a carrier for prebiotic insulin and transport ether oil oils in powder form for improved absorption. Thus, this technology will enable these oils to be used in the nutraceutical industry.
Effects of COVID-19:
The outbreak of the COVID-19 pandemic has had a positive impact on aviation headsets. For example, according to large companies in the market, the demand for these volatile oils increased amid the pandemic. They help boost immunity, which is a requirement of the hour. In addition to boosting immunity, it also helps in relaxing the mind. As a result, companies like doTERRA and Young Living Essential Oils are seeing increases in product sales of these oils. We provide detailed research reports to help you better understand the current scenario of this market amid the pandemic.
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List of Top Players Profiled in Essential Oils Market Report:
- Biolandes SAS (France)
- Givaudan International SA (Vernier, Switzerland)
- International Flavors and Fragrances Inc. (New York, USA)
- Symrise AG (Holzminden, Germany)
- Enio Bonchev Production Ltd. (Bulgaria)
- The Lebermuth Company, Inc. (Indiana, USA)
- Essential Oils of New Zealand (New Zealand)
- Phoenix Aromas & Essential Oils LLC (United States)
- Sydney Essential Oil Co. (Australia)
- Young Living Essential Oils (Utah, USA)
Top segments:
By type, the market is divided into citrus, eucalyptus, lavender, rosemary, tea tree and others.
Measured by variety, the citrus segment held a market share of 41.48% in 2020. This is due to its superior functional and organoleptic properties.
Because of its application, it is divided into Food & Beverage, Personal Care & Cosmetics, Pharmaceuticals, and Others. Finally, based on the region, the market is divided into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.
Report coverage:
The research report focuses on analyzing the essential oils taking into account contributions, prospects and growth trends. It presents detailed profiles of the main players present in the market in order to determine their competencies in each segment. It also helps our clients better understand the competitive landscape such as mergers and acquisitions, product launches, joint ventures and collaborations.
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https://www.fortunebusinessinsights.com/industry-reports/essential-oils-market-101063
Drivers and Restrictions:
Increasing inclination towards aromatherapy to fuel market growth
People’s increasing addiction to their personal wellbeing is expected to contribute to the growth of the essential oils market. Consumers prefer high quality products at reasonable prices to meet their needs. Therefore, manufacturers are increasing their spending on research and development to offer premium quality essential oils. In addition, the resilient hospitality and tourism sectors offer aromatherapy within reach of the common consumer, and this trend is expected to continue to fuel the essential oils market.
On the other hand, the manufacture of essential oils is a very concentrated product. For example, one pound of lavender oil requires about 250 pounds of lavender flowers. Therefore, the excessive demand for raw materials leads to a restricted supply, which ultimately drives up prices. Hence, it is the greatest market restriction.
Regional insights:
Europe should remain at the forefront; Supported by the use of these oils in food preservation
Europe is expected to hold the largest share of the essential oils market over the forecast period. This is due to the growing demand for aromatherapy and the use of these essential oils for food preservation in major European countries such as Germany, France and the UK region. The region totaled $ 3.85 billion in 2020.
North America is expected to have a significant market share during the forecast period due to the increasing use of cosmetic products with natural ingredients. In addition, the high disposable income in the region helps people participate in various aromatherapy programs that promote the regional market.
Competitive landscape:
Key players should focus on new product launches to bolster their market prospectus
The global essential oil market includes a large number of prominent companies who are constantly trying to develop unique devices to meet demand from patients around the world. To do this, they work with local or well-known companies and bring new solutions to market in order to strengthen their portfolio in the market.
Below is the industry trend:
August 2018: Gilbert, an Arizona-based company, launches the Essence by Isagenix Essential Oil collection. The new product is designed to help customers meet a range of health and wellness needs, from relieving stress to assisting with weight wellness travel.
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Detailed table of contents:
- introduction
- Scope of research
- Market segmentation
- Research methodology
- Definitions and Assumptions
- summary
- Market dynamics
- Market leader
- Market restrictions
- Market opportunities
- Important findings
- Overview of the parent / related markets
- Analysis of global demand for different types of essential oils
- Supply chain and regulatory analysis
- Recent industry developments – directives, mergers and acquisitions and
- New product launches
- Market analysis and insights (regarding COVID-19)
- Effects of COVID-19 on the market
- Challenges in the supply chain due to the pandemic
- Potential opportunities due to COVID-19
- Global Essential Oils Market Analysis, Insights, and Forecasts, 2017-2028
- Main results / summary
- Estimates and forecasts of market size
- By type (value)
- Citrus fruits
- eucalyptus
- lavender
- rosemary
- Tea tree
- Other
- After application (value)
- food and drinks
- Personal care & cosmetics
- drug
- Other
- By region (value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By type (value)
Table of contents continued…!
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