Essential Oils Market
Essential Oils Market Split by Product Type, Application, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2019-2026
PORTLAND, OR, UNITED STATES, Aug 25, 2021 /EINPresswire.com/ – An essential oil is a liquid generally distilled from the stems, leaves, seeds, roots, or flowers of the plant. The most commonly used essential oils are lavender, tea tree, orange, lemon, peppermint, corn mint, and others. These oils are antibacterial, antiviral, antifungal, and antimicrobial. They bypass the digestive system easily, so they are beneficial for people with poor digestion / assimilation. In addition, essential oils are very oxygenated and suitable for infants as they cannot swallow tablets and capsules.
The size of the essential oils market was estimated at $ 8,008.6 million in 2018 and is projected to grow at a CAGR of 8.7% to $ 15,618.8 million in 2026. The orange segment was the largest contributor to global essential oils market share at $ 3,058.7 million in 2018, and is estimated at $ 6,217.5 million by 2026, with a CAGR of 9.3% over the forecast period.
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Essential oils are valued for their therapeutic properties and recently they have been found to be very effective as food preservatives. The use of essential oils as preservatives for food is expected to open new growth paths for essential oils as the demand for natural preservatives increases.
The essential oils market is being driven by the imminent requirement for the introduction of natural elements for disease treatment and nutrient rich diet mandated by the FDA. In addition, the market growth is largely influenced by the new uses of this oil in various applications such as flavors and fragrances, aromatherapy, and others. In addition, healing benefits are expected to be instrumental in regulating top sales and penetration of market-approved essential oils.
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The players in the essential oils industry have chosen product launch and acquisition as their main development strategy to increase profitability and improve position in the essential oil market. The key players have also relied on business expansion to stay relevant in the market. Key players in the report include doTERRA International, Biolandes, Sydney Essential Oils Co. Pty Ltd., Young Living Essential Oils, Farotti SRL, The Lebermuth Company, Essential Oils of New Zealand, H.Reynaude & Fils, Moksha Lifestyle Products, and West India Species, Inc.
Main benefits for stakeholders
The report provides quantitative analysis of current market trends, estimates and dynamics of market size from 2018 to 2026 in order to identify the prevailing opportunities.
Porter’s Five Forces Analysis highlights the capabilities of buyers and suppliers to enable stakeholders to make for-profit business decisions and strengthen their supplier-buyer network.
An in-depth analysis as well as the market size and segmentation will help determine the prevailing essential oils market opportunity.
The most important countries in each region are mapped according to their sales contribution to the market.
The market participant positioning segment facilitates benchmarking and provides a clear understanding of the current position of market participants in the industry.
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August 25, 2021 10:55 GMT
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