Electronics
Growth of Essential Oils Market Disrupted by Organic Food Trend
Global Essential Oils Market: Snapshot
According to Forbes, women, entrepreneurs have been accomplishing innovative things in the beauty industry with the establishment of around 40 prominent beauty start-ups in 2017. These start-ups altogether contributed huge sales and valued around $445 billion. The essential oil is a key ingredient, widespread in the beauty care products, to maintain healthy skin. These oils are majorly useful in preventing signs of aging and further breakouts on the skin via the cleansing process. Due to its contemporary success to attain vibrant skin, the essential oil is now being used in almost every skin care product in the beauty industry.
As per a Global Organic Trade Guide report, the market size for organic food and beverages in India was $54.6 million in 2017. The rising number of diseases like diabetes, blood pressure and obesity in the fast-paced lifestyles, with the consumption of conventional food is thriving the demand for organic food products. Organic essential oils are hydrophobic liquids which are also known as volatile oils and ethereal oils. These oils are grown free of pesticides and synthetic fertilizers which helps to boost the immune system of individuals. Eucalyptus, peppermint, lime, and orange and lavender oils are some of the organic essential oils gaining popularity with their flavors in drinks.
According to the experts of IndustryARC, the global essential oils market is poised to grow at a healthy CAGR of around 8%-9% during the forecast period 2019-2025. According to the research analyst’s estimations, the essential oils market size was around $7.0 billion to $7.5 billion in 2018. Europe held a dominating share in the market, which was accounted for around 34% to 40% in 2018. Rising demand for drug, personal and beauty care products in youth as well as from mature population to retain healthy skin is proliferating the growth of the essential oils market in this region. Orange oil is the major product type, which held maximum share in the global essential oils market in 2018 and is projected to grow with a CAGR of around 6% to 7% over the forecast period 2019-2025. Augmented demand to reduce the risks of stress-related diseases is the prime reason for the demand of orange oil. It is a natural product which is used as an antidote in aromatherapy, to reduce anxiety and depression. This information is taken from the IndustryARC report titled “Essential Oils Market: By Product (Orange, Corn Mint, Eucalyptus, Citronella, Peppermint, Lemon, Clover Leaf, Lime, Spearmint); By Application (Medical, Food & Beverage, Spa & Relaxation, Cleaning & Home) & By Region – Forecast (2019 - 2025).”
Global Essential Oils Market Companies: Recent Developments
- Young Living Essential Oils is a leading supplier and manufacturer of essential oils. It produces a wide range of essential oils products such as blends, singles, roll-on’s and massage oils to meet the demand from the personal care industry. In 2018, this company has launched a new product Release Essential Oil, which helps to stimulate a sense of peace in the human body by controlling stress and anxiety. Thus, these factors altogether promoting the growth of the essential oils market.
- In May 2018 Ungerer & Company introduced a new Cinnamon Leaf Oil, which is natural occurring safrole from Cinnamomum Zeylanicum Blume to meet the rising demand from aromatherapy. This balanced essential oil also retains sweet, aromatic and spicy notes to enhance the usage of Cinnamon Leaf Oil.
- Some of the key companies identified in the report that are currently holding majority shares in the global essential oils market are Young Living Essential Oils, doTerra, Biolandess SAS, Essential Oils of New Zealand, The Lebermuth Company, NOW Foods, India Essential Oils, Flavex Naturextrakte GmbH, Ungerer and Company, Inc., West India Spices Inc.
- Plants Extract Market Analysis:
- Natural Fragrance Ingredients Market:
