Essential Oil Market Research Report by Regional Analysis, Future Trend, Growth, Demand, Leading Players Updates and Business Prospects
Apr 18, 2018
Essential Oil Market Information- by Type (Pure essential oil and others), Ingredients (Orange, Corn mint and Others) and Application (Fragrance & Flavor, Aromatherapy, Pharmaceutical, Cosmetics and other) and Province Forecast to 2023
pune, India - April 18, 2018 /MarketersMedia/ —
Market Overview:
Global essential oils market has witnessed an impressive growth over the last few years.
Global essential oil is anticipated to be driven by the various factors. Aromatherapy market is expected to expand at a high pace soon. Increasing consumer inclination towards therapeutic uses of essential oils has led to the growth of the aromatherapy market. There are various factors driving the growth of aromatherapy market. A large number of patients choosing for essential oils for aromatherapy which in turn escalates the growth of essential oil market during the forecast period.
Technological advancements are one of the key factors, which are driving the global essential oil market. Development in processing technologies as well as modification in the product quality, packaging and visual appearance has resulted in increasing demand of essential oil in personal care products. Long lasting odor control and new methods such as solvent extraction for the extraction of essential oils and aroma from plant are some of the new developments in this industry.
Many consumers are not aware about proper instruction to use the essential oil. Availability of cheaper substitute in the market makes the labelling of end product more critical for end user. Lack of labelling has created opportunities for essential oil substitute makers in the market. The increasing use of e-commerce portal to buy essential oil products along with the rising number of box stores like Wal-Mart, pharmacies stores, grocery stores, convenience stores across the globe has strengthen the distribution network for various essential oil product manufacturers.
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Latest Industry Updates:
May 2017 Young Living Essential Oils Acquires Life Matters to enhance the product portfolio in essential oil
October 2016 Young Living Essential Oils launched Ledum essential oil which is produced through steam distillation of the flowering tops of the plant and has a high concentration of limonene. It has traditionally been used to support the liver and kidneys.
July 2016 dōTERRA Increases North American Footprint, Expands into Canada with two new distribution centers and new distillery in Bulgaria.
Competitive Analysis:
Major manufacturers are found to have high focus on strategic product launch in order to seek consumers’ attention towards their product range. They are also involved in the acquisition of small players which will further support the company to expand and reach out to consumers across the regions. Acquisitions are also done to mark the company’s presence and expand their business line. Also, many manufacturers are entering into a tie up with the cosmetics & personal care manufacturers to enhance the volume sales.
The key players profiled in essential oils report are doTerra (U.S.), Young Living (U.S.), The Lebermuth Co., Inc.(U.S.), Shiv Sales Corporation (India), Sydney Essential Oils (Australia), and Shaanxi Guanjie Technology Co., Ltd (China) among many others.
Market Segments:
Global essential oil market has been divided into type, Ingredients, application, and Region
On the Basis of Type: Pure essential oil, Compound essential oil, and Others
On the Basis of Ingredients: Orange, Corn mint, Cedarwood, Eucalyptus, Chamomile, Lavender, Clary sage, Citronella, Litsea cubeba, Citrodora, Peppermint, Basil, Clove Leaf, and Others
On the Basis of Application: Fragrance & Flavor, Aromatherapy, Pharmaceutical, Cosmetics, and Others
On the Basis of Region: North America, Europe, Asia Pacific, and Rest of the World
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Regional Analysis:
The global essential oil market is segmented by region which comprises of North America, Europe, Asia Pacific and Rest of the World. Among all the regions, Asia Pacific is accounting for significant market share in global essential oil market and it is expected to retain its dominance throughout the forecast period of 2017-2023. The growth of the essential oil in Asia Pacific region is anticipated to be driven by the various factors. Increasing high growth of perfumes & fragrances is considered to be the significant factors for the rising growth of essential oil in the Asia Pacific region. Europe is also expected to witness a substantial growth rate during the forecast period. Among the European countries, Germany & France are accounting for major market proportion in the Europe essential oil market in the year of 2017. The trend is projected to continue throughout the forecast period. The growth of the Europe market is attributed to the rising high growth of organic cosmetics & personal care products.
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Source: MarketersMedia
Release ID: 333185
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