Dublin, December 17, 2020 (GLOBE NEWSWIRE) – The report “Essential Oils Market in the US – Industry Outlook and Forecast 2021-2026” has been added ResearchAndMarkets.com Offer.
In-depth analysis and data-driven insights into the impact of COVID-19 in this U.S. essential oils market report
The U.S. essential oils market is projected to grow 7% over the 2021-2026 period.
Essential oil consumption in the US is estimated at 96.45 kilotons in 2020 and is projected to reach 158.88 kilotons by 2026, representing an annual growth rate of 8.67%. The presence of large numbers of buyers in the consumer industry and increasing consumer awareness of natural and organic products are major factors influencing the US market.
The United States is an important contributor to the global essential oils market as they are increasingly used in health care. Factors such as the increase in aromatherapy and pharmaceutical applications, the increasing demand for “green solutions” and the high acceptance of natural products over synthetic products are the factors that are expected to contribute to the growth of the essential oils market in the USA.
Essential Oils Market Segmentation in the United States
This market research report on the U.S. Essential Oils Market has a detailed segmentation by product, end user, and geographic location. In terms of sales, Frankincense essential oil dominated the market, reporting over $ 69 million in 2020. Because of many uses, these are some of the most common necessities in the United States. Orange essential oils recorded the highest demand in terms of volume, followed by essential oils made from peppermint, eucalyptus, lemon, clove and frankincense.
The demand for orange essential oil is expected to reach 61 kilotons by 2026 and grow at an impressive CAGR of over 9%. Eucalyptus oil has several uses and is mainly used as an antimicrobial, antiseptic, deodorant, and insect repellent. In addition, eucalyptus oil is mainly used to treat wounds, burns, abrasions, wounds and scratches, increasing its use in healthcare. Hence, eucalyptus oils are expected to see significant growth in both value and volume.
Several end-user industries are driving the demand for essential oils due to a variety of flavors and fragrances. In terms of sales and volume, the F&B industry had the largest market share in the United States essential oils market. However, the demand for essential oils in the cosmetics and personal care industries as well as in the spa and relaxation industries is likely to show the highest growth in the forecast period. This is mainly due to the increasing awareness of personal care and wellness.
The demand for essential oils in the spa and relaxation industry is expected to have the highest growth dynamic, growing at a CAGR of over 16% between 2021 and 2023 and over 19% between 2024 and 2026. The slow momentum in 2021-2023 may be great because of the COVID-19 outbreak. Due to the mandatory lockdown and closure of spas, resorts, salons and salons, the demand for essential oils in the spa and relaxation industry, as well as in the cosmetics and personal care industries, is growing more slowly.
INSIGHTS BY GEOGRAPHY
The US essential oils market share is largely driven by high disposable income, the presence of established consumer industries, high growth potential in multiple consumer industries, increasing numbers of households, and increasing demand for aromatherapy and healthy lifestyles.
Due to the high prevalence of disease, awareness and demand for grooming products for men such as beard grooming, hair care and others, and the increasing demand for natural and organic foods and cosmetics are also increasing the demand for essential oils. User industries. In line with this growing trend in natural and organic lifestyles, manufacturers around the world are increasing their operations and sourcing activities to customize product features based on the end-user application.
INSIGHTS FROM SELLERS
The US essential oils market is highly competitive and moderately consolidated. The US has a moderate number of major players and several minor players. The players in the industry concentrate on developing innovative products and expanding their product portfolio through enormous investments in research and development.
Although the established players dominate the industry, there are also great growth opportunities for other newcomers as they target the lower end markets or cities by making low cost products. The competitive intensity of the market is higher in the northern and southern parts of the United States due to the large number of end-user industries that drive the demand for essential oils.
Prominent providers
- Artisan Aromatics
- Doterra
- Eden Botanicals
- Labermuth
- The truth of nature
- Now groceries
- International nurse
- Rocky Mountain oils
- The Essential Oil Company
- Ungerer
- WFMED
- Young Living essential oils
Main topics covered:
1 research methodology
2 research goals
3 research process
4 Scope and Coverage
4.1 Market definition
4.2 Base year
4.3 Scope of the study
4.4 Market segments
5 Report assumptions and precautionary measures
5.1 Important precautionary measures
5.1 Currency conversion
5.2 Market diversion
6 Market at a glance
7 Introduction
7.1 Overview
7.2 Raw material insights
7.3 Value chain analysis
7.4 Profit Margin
7.5 Industry FAQ
7.6 Effects of Covid-19
8 Market Opportunities and Trends
8.1 Growing demand for aromatherapy and other natural therapies
8.2 Increasing consumption of essential oils by segment cosmetics and personal care
8.3 Growing demand for grooming products for men
9 Promoters of Market Growth
9.1 Growing popularity of natural and organic products
9.2 High demand from the pharmaceutical segment
9.3 High disposable income and increasing number of households
10 Market Restrictions
10.1 Strict regulations for harvest and cultivation due to the associated dangers
10.2 Presence of alternative synthetic substitutes
10.3 Lack of traceability in the supply chain
11 market landscape
11.1 Market overview
11.2 Overview of the supply chain
11.3 Five Forces Analysis
12 product
12.1 Market Snapshot & Growth Engine (value)
12.2 Market Snapshot & Growth Engine (Volume)
12.3 Market overview
12.4 incense
12.5 lavender
12.6 peppermint
12.7 tea tree
12.8 eucalyptus
12.9 rosemary
12.10 sandalwood
12.11 lemon
12.12 lemongrass
12.13 clove
12.14 thyme
12.15 orange
12.16 Basil
12.17 Spearmint
12.18 chamomile
12.19 Others
13 End Users
13.1 Market Snapshot & Growth Engine (value)
13.2 Market Snapshot & Growth Engine (Volume)
13.3 Market overview
13.4 F&B Industry
13.5 Health Industry
13.6 Spa & relaxation
13.7 Cosmetics and Personal Care Industry
13.8 Cleaning and Household Industry
13.9 Others
14 geography
14.1 Market Snapshot & Growth Engine
14.2 Geographic overview
15 key regions
15.1 South
15.2 West
15.3 MIDWEST
15.4 northeast
16 Competitive Landscape
16.1 Contest overview
17 Important Company Profiles
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