NEW YORK, March 23, 2021 / PRNewswire / – The essential oil market will register additional spending of about USD 5.1 billionand grew at a CAGR of 10.15% over the five-year forecast period. Taking a well-directed strategic approach to essential oil sourcing can open up several options for buyers. This report also offers market implications and new opportunities arising from the COVID-19 pandemic. Download the free sample report
Key highlights of the report:
Essential Oils market procurement research report
- Learn how to identify strategic and tactical levels of negotiation that will help you get the best prices.
- Find out about the relevant price levels and explain in detail the advantages and disadvantages of the common price models.
- Methods for working with the right suppliers and for determining KPIs for evaluating established suppliers.
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Insights into buyer strategies and tactical negotiation levers:
The report explains various strategic and tactical negotiating levers to help buyers get the best prices on the essential oils market. The report also assists buyers with relevant essential oil price levels as well as the pros and cons of common pricing models such as volume-based pricing, spot pricing, and cost-plus pricing and category management strategies and best practices to help them meet their category goals.
Further information on buyer strategies and tactical negotiation levers can be found here.
Main drivers and trends for market growth:
The pressure from substitute players and a moderate threat from new market entrants have resulted in the suppliers having little bargaining power.
Price forecasts are advantageous in purchasing planning, especially if they are supplemented by constant monitoring of factors that influence prices. The market expects a change of 3.2% to 4.5% for the forecast period.
- Identify low cost opportunities in essential oil TCO (total cost of ownership).
- Expected changes in the price forecast and factors affecting current and future price changes.
- Identify pricing models that offer the most rewarding opportunities.
Some of the major essential oil suppliers featured in this report:
This essential oils procurement report outlined the key suppliers and their cost structures, SLA terms, best selection criteria, and negotiation strategies.
- doTERRA International LLC
- Young Living essential oils
- Biolandes
- Sydney Essential Oil Co. Pty Ltd.
- The Lebermuth Co. Inc.
- FAROTTI SRL
- Moksha lifestyle products
- H. Reynaud & Fils
- Aromatika BV
- Jiangsu Taiyang Reducer Co. Ltd.
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contents
- Summary
- Market insights
- Insights into the pricing of the category
- Opportunities to save costs
- Recommended course of action
- Category ecosystem
- Category management strategy
- Category management enablers
- Supplier selection
- Suppliers under cover
- US Market Insights
- Category area
- appendix
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