Essential
oils are raw materials obtained from botanic sources. They are used
widely in the fragrance and flavor industries. Essential oils and
oleoresins include various products that are primarily used as
fragrances and flavors. Essential oils, in particular, find use as
food supplements and medicines to endorse good health. Besides these,
essential oils are also used as feedstock in the chemicals industry.
Request
to view Sample Report:
https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=10775
The
global market for essential oils and oleoresins is broadly classified
on the basis of application, product type, and nations. In terms of
product type, the market for essential oils is segmented into
peppermint, lavender, sandalwood, bergamot, tea tree, rosemary,
ylang-ylang, and chamomile. Among all the aforementioned segments,
the lavender segment is likely to hold the maximum share in the
market during the forecast period.
On
the basis of type of oleoresins, the market for essential oils is
segmented into vanilla, turmeric, herbs, cinnamon, chilies, pepper,
ginger, clove, and garlic. Of these, chilies are expected to dominate
the market over the forecast period. In terms of application, the
market is segmented into beverages, savory, confectionary, and
nutraceuticals. Among these, the beverage segment dominates the
market at present and is projected to contribute the highest revenue
in the forthcoming years.
Nations
exhibiting most lucrative prospects for the global
essential oils and oleoresins market include India, ASEAN,
Australia, New Zealand, and Greater China, and rest of Asia Pacific.
Among these nations India has emerged as the largest market for
essential oils and oleoresins, followed by China as more affluent
people live in India compared to other nations.
The
market for essential oils and oleoresins in Asia Pacific is poised to
grow at a robust pace in the coming years as consumers in the region
increasingly prefer natural ingredients such as chilies and pepper.
Among all emerging nations in Asia Pacific, India accounts for the
largest share in the market, trailed by China. Consumers in emerging
countries have become more conscious about their health. This is
expected to positively influence the market’s growth trajectory in
Asia Pacific. Besides this, the market in New Zealand is also
expected to witness consistent growth in the coming years due to the
increasing number of health conscious consumers in the country.
The
global market for essential oils and oleoresins is poised to surge
exponentially in the forthcoming years. Major drivers propelling the
growth of essential oils and oleoresins market are the increasing
health consciousness among consumers, the rising consumer preferences
for natural ingredients in fragrance, beauty products, medicines, and
food. However, the rising prices of products with high quality are
expected to hamper the growth of the market to an extent in the near
future.
Some
of the most prominent players operating in the market include Natures
S.A, Alchem International Ltd, Indena S.P.A, Kancor Ingredients Ltd.,
Frutarom Industries Inc, Chr. Hansen A/S, Symrise A.G, and Biomax
Life Sciences Limited, among others. Enterprises operating in the
global market for essential oils and oleoresins are looking forward
to increase their investment in product innovation in order to expand
their operations to newer markets. In addition to this, these
companies are also adopting various pricing strategies to gain
competitive edge in the market.
No comments:
Post a Comment