According to the recently published report by Value Market Research, the Global Essential Oil Market was valued around USD 7.8 BN (by revenue) in 2018 and is anticipated to reach close to USD 13.82 BN by 2025 with a CAGR of 8.50% from 2019 to 2025.The market segmentation in the report covers product, application, and region.
By-product the market has been categorized into orange, eucalyptus, corn mint, peppermint, citronella, lemon, lime, clover leaf, spearmint, and others. Out of which, orange and corn mint together is gaining hype in the market owing to rising demand across food and beverage application for cooking and flavoring purpose.
The report titled"Global Essential Oil Market Report By Product (Orange, Eucalyptus, Corn Mint, Peppermint, Citronella, Lemon, Lime, Clover Leaf, Spearmint, And Others), Application (Food & Beverages, Medical, Cleaning & Home, Spa & Relaxation, And Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation, and Forecast, 2018-2025"offer complete assessments on current and future outlook in the developed and emerging markets.
By application, the market has been classified as food & beverages, medical, cleaning & home, spa & relaxation, and others. Food and beverage are dominating the segment owing to the rising usage of the product as a flavoring and natural preservative which enhance the shelf-life of the food products. Also, owing to their excellent antioxidant and antimicrobial traits they are added as nutritive in food products, thus promoting their application.
The essential oil is natural and 100% pure oil that is extracted from the various sources through the distillation process. They are volatile, highly concentrated, substances extracted from various parts of plants like stems, flowers, leaves, roots, seeds, bark, and resin or fruit rinds. Essential oils primarily have application across aromatherapy, a natural remedy to cure psychological stress and poor physical conditions. They are also used as food flavorings in beverages, confectionery, and other processed foods. Further adding to this, they are also used as cosmetic fragrances for perfume products or toiletries.
The growing popularity of aromatherapy across consumers as it provides natural healing treatment for a disorder like insomnia, respiratory diseases, immune system functioning skin issue and digestion problems has promoted demand for essential oils across the globe. The rising importance of natural & herbal treatment coupled with improving economic standards has also increased essential oils demand. Additionally, the market of essential oil will also gain benefit with the shifting consumer preference towards natural ingredients with multifunctional qualities which provides an effective solution for various health-related issues. Moreover, rising demand for aromatic oil in diffuser and room fresheners is also expected to stimulate growth of the industry over the forecasted timeline.
Regionally, the market has been analyzed across North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Currently, Europe is leading the global essential oil market owing to the strong presence of cosmetic production companies in the region that will derive the demand for aromatic oil. Also, rising usage of natural ingredients in the cosmetic product will upsurge the market growth over the forecast period.
The Report Segments Global Essential Oil Market -
Players Profiled in the Report:
Biolandes, dTERRA International, Essential Oils of New Zealand, Farotti SRL, H.Reynaude&Fils, Moksha Lifestyle Products, Sydney Essential Oils Co. Pty Ltd, The Lebermuth Company, West India Species, Inc., and Young Living Essential Oils.
About Value Market Research -
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