Myrtle,
which also goes by the name of Myrtus belongs to the genus of
flowering plants in the family Myrtaceae. This aromatic evergreen
shrub is native to the Mediterranean region in Southern Europe as
well as North Africa. The plant has small, shiny, dark green leaves
which contain vesicles full of essential oil. In the ancient times,
the myrtle plant found its use in therapeutic applications by soaking
the leaves in wine so as to counter several infections and fever.
Furthermore, additional properties of myrtle were detected by the
people such as its ability to fortify the stomach and being effective
for pulmonary and bladder infections. Other utilizations of myrtle
included the treatment of bronchial infections, genito-urinary
system, and for haemorrhoids. The myrtle essential oil market is
anticipated to expand at a significant CAGR in the forecast period on
the backdrop of emerging properties of myrtle essential oil for
instance antiseptic, astringent, deodorant, expectorant, and a
sedative substance.
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Segmentation:-Africa
Myrtle
essential oil market is segmented on the basis of application which
includes cosmetics & personal care, incense, dietary supplements,
and aromatherapy. Amongst these applications, the aromatherapy
segment is expected to flourish at a healthy rate owing to its
ability to clean and open the respiratory passage and thereby finding
its use in diffusers with other oils such as rosemary, thyme and
ravensare. The personal care & cosmetics segment is also
forecasted to show a moderate growth on the backdrop of its offered
properties such as astringent, antiseptic, and other benefits such as
its actions against hemorrhoids, acne, pimples, cystitis, infections
in the urinary tract, and chronic problems like leucorrhea.
Myrtle
essential oil market is segmented on the basis of the end use which
includes retail and industrial. The retail segment is further
sub-segmented as distribution channel which includes online stores,
hypermarkets/supermarkets, specialized drug stores, and convenience
stores.
Global
market drivers and restraints:-
The
myrtle essential oil is gaining widespread popularity on the backdrop
of its manifold advantages offered by it. Some of the properties of
myrtle essential oil which are primarily driving the myrtle essential
oil market are its potential use in mouthwash in order to make gums
contract and strengthen their hold onto the teeth, its capability to
tighten the skin aimed at encountering the wrinkles, help stop
hemorrhaging by inducing the blood vessels to contract. Moreover, the
myrtle essential oil eliminates foul odors and used in incense sticks
and burners, fumigants and vaporizers as room fresheners. The myrtle
essential oil can be also has a possible capacity to be used as an
antiseptic and can be applied on wounds to protect it against
microbes. Additionally, myrtle essential oil reduces the presence and
further deposition of phlegm and also clears congestion of the nasal
tracts, bronchi and lungs resulting from colds and provides good
relief from coughing. The restraints of myrtle essential oil market
are relatively few however are potential to affect the market and
include the weak penetration in the market owing to the lack of
awareness amongst the population regarding the product and selection
of potential alternatives. Also, a few cases have been reported owing
to the side-effects of myrtle essential oil however are not medically
proven yet.
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Regional
Outlook:-
The
South Asian countries such as India, Indonesia, Singapore, Malaysia,
Sri Lanka and others lead as the top exporters as well as
manufacturers of the benzoin essential oil market followed by North
America and Europe. Most imports have been witnessed by the countries
like U.S, Germany, U.K, China, Saudi Arabia, France, and others. Asia
will remain as a potential market attributing to the growing
economies of India and China. Furthermore, great potential in the
benzoin essential oil market can be attributed to its diverse uses.
Major
Key players:-
Some
of the major key who are driving the myrtle essential oil market
globally are Young Living Essential Oils, Floracopeia Inc, MYSTIC
MOMENTS, Aromatics International, Inovia International, Phoenix
Aromas & Essential Oils LLC, and the like.
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