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Essential Oils Market to attain significant growth in coming years, personal care applications to prominently drive the demand

Author : Rahul Sankrityayan | Published Date : 2019-05-31 

Global Market Insights, Inc. presents an extensive report on Essential Oils Market that offers qualitative information about prevailing trends and a detailed analysis of the growth trajectory of this industry. It also includes a study of the historical data and detailed statistics that will help determine the future scope of the industry in terms of commercialization opportunities.

A renowned American aromatherapy and essential oils market player Honé has recently announced that it is proudly taking the concept of aromatherapy several notches up with its all brand new ‘essential oil scented nose diffuser.’ Honé’s introduction of a remarkable and innovative way of reducing unpleasant smell by wearing a discreet nose diffuser has been touted to help the company garner substantial proceeds in the years ahead. For the record, the nose diffuser is an essential oil scented and flexible nose ring designed to prevent odors from entering the nose, while giving a pleasant effect on the users’ mood & daily routine. The company, for its essential oil scented nose diffuser, has launched a campaign to raise crowdfunds on Kickstarter.

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Another instance worth mentioning is of Airtab, which is a social engagement app, and has recently launched a platform dedicated to mixology events hosted by d?TERRA® Wellness Advocates that will be emphasizing on preparing cocktails infused with essential oils. With all these aforesaid instances in view, it wouldn’t be wrong to quote that the use of essential oils has exploded to new heights in the past few years. The unprecedented surge in product innovation and increasing R&D investment for developing alternative remedies from essential oils have turned this once small-scale business into a multi-billion-dollar industry, with global essential oils market valuation surpassing USD 7.16 billion in 2017.

The remarkable industry valuation also throws lights on the growing popularity of essential oils in the cosmetics & toiletries, fragrances, aromatherapy, food & beverage, pharmaceutical, and other sectors. Reliable reports claim that the overall essential oils industry share garnered hefty remuneration from the food & beverage application, given the extensive demand for black pepper, rosemary, clove, orange, lemon, and cinnamon oils for cooking and flavoring cuisines & beverages. Another vital factor driving the demand of essential oils market from the F&B industry is the supportive FDA regulations regarding the approval of natural, plant-based and organic oils, offering antimicrobial and antioxidant properties, for consumption. Analyzing these emerging trends, estimates claim that the global essential oils market from F&B application is projected to surpass 145 kilo tons of demand by 2024.

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France essential oils market may register gains up to 8.5% by 2024. Occurrence of major cosmetic manufacturing companies has led to increasing imports of these oils in this country, thus propelling product demand. Intensive marketing strategy of companies generating awareness about essential oils and aromatherapy is likely to foster industry growth.

India essential oils market will surpass USD 790 million up to 2024. Adoption of sustainable agriculture techniques which has led to large scale production raw materials including spices, lemon, orange, mint for oil extraction will propel industry growth.

Lavender oil market size is anticipated to reach over 20 kilo tons by 2024. It helps in combating serious health conditions like cancer, chronic anxiety & stress along with reverse signs of ageing, relieves pain, and headaches which makes it suitable for pharmaceutical, aromatherapy and cosmetic applications, thus driving product demand.

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Rosemary oil will witness robust growth owing to its wide usage in preventing hair loss, slowing graying of hair, relieving dandruff and moisturizing dry scalp has promoted its use in hair care products. Emerging trends of hair treatments, coloring and climatic conditions damaging the hair growth and leading to varied issue is likely to favor product demand in cosmetic formulations.

Global essential oils market share is competitive and moderately fragmented with major companies including Frutarom, Firmnich, BioLandes, DoTerra, Flacon Young Living, Rock Mountain Moksha Lifestyle, Flavex, Florihana, BO International.

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About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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