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India essential oils market to reach valuation of us$ 1.5 bn by 2030
India essential oils market to reach valuation of us$ 1.5 bn by 2030
In terms of value, the India essential oils market is anticipated to expand at a CAGR of ~4% from 2020 to 2030.

IndiaEssential Oils Market: Introduction

Interms of value, the India essential oilsmarket isanticipated to expand at a CAGR of ~4% from 2020 to 2030. Growingtrend of adoption of ayurvedic products and rising demand for natural personalcare products in India are factors driving the essential oils market in the country.Growth of the organic cosmetics & homecare products industry in India wouldcreate lucrative opportunities for the essential oils market in the country inthe near future. Rising awareness about benefits offered by natural ingredientsboosts their adoption, which drives usage of essential oils in variousapplications. Therapeutic benefits offered by essential oils are anticipated todrive the demand for these oils in India during the forecast period.

Increasein the consumption of essential oil as natural preservatives is anticipated toboost the essential oils market in India during the forecast period. Moreover,increasing consumption of essential oils in various applications, includingfood & beverages, cosmetics, homecare products, and pharmaceuticals drivesthe market in the country. Rising regulations on the usage of chemical-basedessential oils are estimated to drive the market for essential oils in India inthe next few years.

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VolatilePrices of Raw Materials to Hamper Market in India

Highprices of essential oils restrain the essential oils market in India.Insufficient production of raw materials and unavailability of these materialsin enough quantity raise their prices. Volatile prices of raw material led bytheir irregular supply are projected to hamper the essential oils market inIndia during the forecast period. Low supply of raw materials puts burdenon the essential oils market in India. Changing climatic conditions may resultin poor harvesting. Additionally, availability of low-cost chemical-basedsubstitutes also hampers the essential oils market in the country.Adulteration, residues of solvents and pesticides, and microbial contaminationsare other factors hindering the essential oils market in India.

Lackof quality management and advanced procurement facilities is a key factorresponsible for quality degradation. Deficiency in quality and puritymanagement is another major restraint of the essential oils market in India.

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CornmintOil to Dominate India Essential Oils Market

Interms of product, the India essential oils market has been divided into citrusoil, eucalyptus oil, clove oil, peppermint oil, basil oil, cornmint oil,spearmint oil, sandal wood oil, and others. Among these, the cornmint oilsegment dominated the India essential oils market, in terms of volume andrevenue, in 2019. Thecitrus oil segment is expected to be highly lucrative from 2020 to 2030. Cornmint oilis widely used to manufacture various types of products including food,beverages, confectionery items, dental care products, homecare products, andcosmetics. Citrus oil is beneficial for digestion and to boost energy.

Food& Beverages to Be Key Application

Basedon application, the India essential oils market has been segregated into food& beverages, pharmaceutical, cosmetics & toiletries, aromatherapy,homecare products, fragrances, and others. Among applications, the food &beverages segment held a major share of the India essential oils marketin 2019.It is anticipated to continue to dominate the market in the country from 2020 to 2030.

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Northto be a Lucrative Zone of India Essential Oils Market

Based onzone, the India essential oils market has been classified into east, west,north, and south. The essential oils market in India is projected to expand ata CAGR of more than 4%, in terms of value, during the forecastperiod. The market in the country is expected to offer significantopportunities to manufacturers of essential oils during the forecast period.India is a major manufacturer and consumer of essential oils. The west zonesegment dominated the India essential oils market in 2019. Thenorth zone segment is anticipated to expand at the maximum CAGR during theforecast period.

CompetitionLandscape

The Indiaessential oils market was highly fragmented, with various small- andmedium-scale manufacturers operating in the market in 2019. Westzone has been a lucrative market for essential oils in India over the last fewyears. Leading market players have taken initiatives to expand their presencein the market in the country through new product launches and strategicpartnerships with suppliers and distributors.

Key manufacturersoperating in India essential oils market Bo International, KantaEnterprises Private Limited, Falcon Essential Oils, Indian Aroma Exports, IndiaEssential Oils, Shiv Sales Corporation, AG Industries, BMV Fragrances Pvt.Ltd., Moksha Lifestyle Products, Kush Aroma Exports, and Veda Oils.

IndiaEssential Oils Market: Segmentation

IndiaEssential Oils Market, by Product

·        Citrus Oil

·        Eucalyptus Oil

·        Clove Oil

·        Peppermint Oil

·        Basil Oil

·        Cornmint Oil

·        Spearmint Oil

·        Sandal Wood Oil

·        Others

IndiaEssential Oils Market, by Application

·        Food & Beverages

·        Pharmaceuticals

·        Cosmetics & Toiletries

·        Aromatherapy

·        Homecare Products

·        Fragrances

·        Others

IndiaEssential Oils Market, by Zone

·        East

·        West

·        North

·        South