With
the increasing preference for natural products among consumers, the
global market for essential oil is observing a tremendous rise in its
valuation. The market is anticipated to remain reporting high growth
over the next few years, thanks to the expanding application base of
essential oil, from the cosmetics and the food and beverages industry
to the aromatherapy and the pharmaceuticals sectors. This research
study offers a decisive overview of the worldwide market for
essential oil by analyzing this market thoroughly on the basis of its
past performance and current status. The future market potential has
also been evaluated in details to provide the readers with future
projections and forecasts.
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The
overview section also includes a qualitative assessment of the
overall market, emphasizing the influencing factors and various
market dynamics, such as the growth drivers, limitations, market
trends, challenges, and opportunities, together with potential
customer evaluation. In addition to this, an analysis of the market’s
attractiveness, coupled with the key strategies adopted by the
leading players, have been examined thoroughly in this report to
explain the intensity of the competition within the market.
Based
on the type of the product, the market has been bifurcated into spice
oil, spice seed oil, citrus oil, herb oil, and perfumery oil. The
performance of these market segments has been assessed at length on
the basis of their utility, efficiency, sales, and the geographic
presence. By extraction method, the market has been classified into
distillation, solvent, and cold pressing. On the basis of
application, the market is categorized into the personal care and
cosmetic, food and beverage, pharmaceuticals, aromatherapy, and the
industrial sectors. Based on the sales channel, specialty store,
modern trade, drug stores, and online stores have surfaced as the key
segments of this market.
Geographically,
the market has been segmented into six regions: North America (Canada
and the U.S.), Latin America (Argentina, Mexico, and Brazil), the
Middle East and Africa (Israel, South Africa, Turkey, and GCC
countries), Asia Pacific excluding Japan (India, South Korea, China,
Australia, Indonesia, and Singapore), Europe (the U.K., Germany,
Italy, Spain, France, and Nordic countries), and Japan. The market
revenue for all the segments have been provided here in terms of US$
Mn for the period from 2017 to 2022, together with the cumulative
average growth rate (CAGR %) between 2017 and 2022.
In
conclusion, the market study offers a thorough review of the key
players in the global
essential oil market on the basis of a number of attributes,
such as the overview of the enterprise, with respect to an assessment
of its financial status, brand recognition, and the business. The
product portfolio, recent developments, and business strategies have
also been discussed in this research report. The leading players
profiled in this research study are Young Living Essential Oils,
DoTERRA International LLC, Givaudan SA, Enio Bonchev Production Ltd.,
The Lebermuth Co. Inc., Symrise AG, International Flavors &
Fragrances Inc., Citrus and Allied Essences Ltd., Biolandes SA, and
China Flavors and Fragrances Co. Ltd.
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