Essential Oil Soap Market: Global Opportunity Analysis & Industry Forecast, 2019-2026
POTLAND, 5933 NE WIN SIVERS DRIVE, # 205, OR 97220, UNITED STATES, Aug 31, 2021 /EINPresswire.com/ – According to a new report from Allied Market Research entitled “Essential Oil Soap Market by Product Type” and Distribution Channel : Global Opportunity Analysis and Industry Forecast, 2019-2026 “The global essential oil soap market was valued at $ 261.2 million in 2018 and is projected to reach $ 458.6 million by 2026 in 2018, which is 37.4 million % of total essential oil soap market share. The global market offers an additional revenue opportunity of $ 210.9 million from 2018 to 2026.
Essential oils are complex mixtures of organic chemicals obtained from plants by distillation. In addition to distillation, other processes such as expression, solvent extraction, absolute oil extraction, cold pressing and resin tapping are used to obtain essential oils. Soaps based on natural essential oils are popular in the personal care industry because of their significant advantages over synthetic products. The artisanal nature of the products and the higher cost of the ingredients have positioned essential oil soaps in the premium categories of personal care products. The private label products have premium prices due to the higher costs associated with making soap and the lack of economies of scale for manufacturers. The increase in the cost of raw materials such as oil / fats, essential oils and other ingredients, as well as the increase in overhead costs and sales margins are expected to further increase the total cost of the product over the forecast period of the essential oil soap market.
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Sedentary lifestyle and stress at work have increased the need for relaxation and stress buster therapies in individuals. Massages are an integral part of the Chinese, Egyptian, Greek, Roman, Japanese and Indian traditions. Spas and rejuvenation centers use essential oils to enhance the massage therapy experience. These relaxation therapies include holistic treatments that use plant essential oils to help balance the body, mind and spirit. The increasing adoption of essential oil based products such as personal wash, soap, powder and other personal care products is expected to spur market growth in the near future.
The demand for natural ingredients has increased in the cosmetics and personal care industries. Synthetic ingredients used in personal care products often lead to lung diseases, skin allergies, respiratory problems and brain diseases. To overcome such hurdles, manufacturers are now relying on more natural and user-friendly ingredients such as essential oils. Essential oils are widely used in the manufacture of cosmetics and personal care products for everyday use and are expected to gain momentum due to increasing spending on cosmetics and toiletries. The increased spending on user-friendly cosmetic ingredients such as essential oil is expected to fuel the overall growth of the essential oil soap market.
The Essential Oil Soap market is segmented by product type, distribution channel, and region. According to the product type, it is categorized into Lavender Essential Oil, Rose Essential Oil, Tea Tree Essential Oil, Rosemary Essential Oil, Peppermint Essential Oil, and others. The lavender essential oils segment is expected to remain dominant with a 20.0% to 21.0% revenue share due to several benefits such as improving hair health, skin health and digestion. According to distribution channel, it is divided into supermarket / hypermarket, e-commerce, retail and pharmaceutical stores. The e-commerce segment would be the fastest growing segment due to the increasing penetration of private label in online distribution channels. The increase in spending on branded personal care products through online sales platforms and lucrative discounts from vendors are expected to be the main drivers for the growth of the essential oil soap market.
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By region, it is analyzed in North America (United States, Canada, and Mexico), Europe (Germany, France, Spain, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea), and rest of Asia-Pacific Space) and LAMEA (Middle East, Latin America and Africa).
Main results of the study:
The lavender oil soap segment is expected to grow at a CAGR of 8.0% in the forecast period.
North America is expected to dominate the market growth with a CAGR of 6.9%.
The Asia-Pacific region is projected to grow exponentially in 2026, with the highest CAGR of 11.8%.
The supermarket / hypermarket sales segment is expected to dominate the global market analysis for essential oil soaps with a CAGR of 6.7% in the forecast period.
The e-commerce segment is expected to grow at a CAGR of 10.2% in the forecast period.
Key players in the global essential oil soap industry include Kama Ayurveda, Forest Essentials, Edens Garden, Lush, Sunleaf Naturals, LLC, Virginia Aromatics, Wipro Unza Holdings Ltd., Olay, Dove and Enchanteur.
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David Correa
Allied Analytics LLP
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August 31, 2021, 6:14 am GMT
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