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Global Essential Oils Market – Industry Analysis and Forecast (2020-2027)

Global Essential Oils Market was valued at US$ X5.X6 Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of X7.1% during a forecast period.


Industry Dynamics

Drivers

The Food and Beverage Industry

Essential oils have found a secure persistence in the food and beverage industry. Instead of adding herbs, and juices directly, a drop of essential oils is being used to augment the flavor of a dish. This helps in emphasizing the needed flavor, while conserving the need for amplified usage of herbs. A flavoring and preservation agents profile assists to boost essential oils market growth.

The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.

Aromatherapy

Aromatherapy is one of the most protuberantly established forms of alternative medicines, and utilizes essential oils as its major component. Essential oils delivers a plethora of uses comprising boosting energy, relaxation, curing headaches, stress reduction, preventing dementia, and strengthening immunity. The process comprises inhaling the essential oils, to which our bodies respond by absorbing the essential nutrients. Massaging the oil on sore muscles is also a part of aromatherapy. The western countries use these ethereal oils in aromatherapy parlors which amplify the growth of the essential oils market.

Challenges

Modern medicine is the exact opposite of essential oils, and relies on conclusive studies performed by academic researchers. The benefits of essential oils instead, are reliant on traditional recommendation that has been passed down from generation to generation. This is a challenge tackled by the essential oils market as it extremely relies on the placebo effect as its real backing. Evidential research is the only way to battle this challenge, and rises market revenue.

Market Trends

A Comprehensible Sourcing Standard

Essential oils market key players are making sure that they run their products under an appropriate sourcing standard in order to boost sales in the market by delivering evidential product information. In alliance with suitable research labs, they are analysis their products in compliance with a standardized set of sustainability norms that defends the environment, while increasing essential oils market growth at the same time. This trend will disrupt the market in progressive ways, and be applied by a number of other key players.

Geographic Overview

The Asia Pacific is projected to display a prompt growth in the essential oils market in the forecast years due to rise in the disposable income, increasing interest in the use of the natural products like essential oils by the consumers, and the quick industrialization. Majority of the market share is anticipated to be contributed by North America. In North America, the U.S. dominates the essential oils market and is the main exporter and importer of the essential oils. Major exports are to the countries like Germany, Canada, Japan, and the U.K. Imports are from the countries like India and France. The growth in the manufacture of the essential oils together with the rising need from several end-user industries rises the demand for the essential oil products worldwide.

The report covers the market leaders, followers and new entrants in the industry with the market dynamics by region. It will also help to understand the position of each player in the market by region, by segment with their expansion plans, R&D expenditure and organic & in-organic growth strategies. Long term association, strategic alliances, supply chain agreement and M&A activities are covered in the report in detail from 2014 to 2019. Expected alliances and agreement in forecast period will give future course of action in the market to the readers. More than ten companies are profiled, benchmarked in the report on different parameters that will help reader to gain insight about the market in minimum time.

The objective of the report is to present a comprehensive analysis of the Essential Oils Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by Vehicle. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by Vehicle on the market have been presented in the report.

External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Essential Oils Market dynamics, structure by analyzing the market segments and project the Essential Oils Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Essential Oils Market make the report investor’s guide.

Essential oils are volatile oils extracted from plants, and their primary components. The ‘essence’ of plants in the form of aroma and flavor is seized in essential oils, thus conserving what the plants really constitute. They have been extensively utilized by the cosmetics industry, and the food industry for their natural characteristics, the basis for their successful marketing. These oils are continuously under the research lens for reconsideration of their practical uses, while determining new purposes at the same time. For example, researchers recently revealed that adding a drop of essential oils can inhibit microbial growth in food. In a similar manner, essential oils have create their primary application in the food industry. This segment is expected to grow with a noticeable CAGR of X7.1% during the forecast period of 2019-2027.

World Health Organization identifies the need for traditional and alternative medicine, and propelled the WHO Traditional Medicine Strategy 2014-2023 to convey forth the benefits of putting alternative medicine to good use. The Asian countries such as Singapore, and Republic of Korea, 76% and 86% respective populations frequently use traditional medicine in spite of having a well-recognized healthcare system. Essential oils are vital constituent of traditional and alternative medicine, and are often attributed with stress-diminishing and energy boosting properties. These ethereal oils are often utilized in aromatherapy, which is a common type of alternative medicine.

Some of the major players operating in the market are as follows:

• Cargill (U.S.)
• Koninklijke DSM N.V. (Netherlands)
• E.I. du Pont de Nemours and Company (U.S.)
• Dōterra International LLC.
• Firmenich SA
• Givaudan SA (Switzerland)
• The Lebermuth Company, Inc.
Key Target Audience:

• Essential oil manufacturers
• Spa & aromatherapy specialists
• Essential oil importers & exporters
• Essential oil distributors and suppliers
• Food & beverage, healthcare, feed, home care, cosmetic and toiletry manufacturers
• Associations and industry bodies such as the Food and Drug Administration, the European Food Safety Authority, the National Association for Holistic Aromatherapy and other food or feed & safety associations.

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Scope of the report:

This research report segments the Essential Oils Market based on type, a method of extraction, application, and geography:
Essential Oils Market, by Type:

• Orange oil
• Lemon oil
• Lime oil
• Peppermint oil
• Cornmint oil
• Citronella oil
• Spearmint oil
• Geranium oil
• Clove leaf oil
• Eucalyptus oil
• Jasmine oil
• Tea tree oil
• Rosemary oil
• Lavender oil
• Others
Essential Oils Market, by Method of Extraction:

• Distillation
• Carbon dioxide extraction
• Cold press extraction
• Solvent extraction
• Others
Essential Oils Market, by Application:

• Food & beverage
• Cosmetics & toiletries
• Aromatherapy
• Home care
• Health care
• Others
Essential Oils Market, by Geography:

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America
Geographic Analysis:

• Breakdown of The North America Essential Oils Market

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• Breakdown of The Europe Essential Oils Market
• Breakdown of The Asia Pacific Essential Oils Market
• Breakdown of The Middle East & Africa Essential Oils Market
• Breakdown of The Latin America Essential Oils Market

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