Myrtle, which also goes by the name of Myrtus belongs to thegenus of flowering plants in the family Myrtaceae. This aromatic evergreenshrub is native to the Mediterranean region in Southern Europe as well as NorthAfrica. The plant has small, shiny, dark green leaves which contain vesiclesfull of essential oil. In the ancient times, the myrtle plant found its use intherapeutic applications by soaking the leaves in wine so as to counter severalinfections and fever. Furthermore, additional properties of myrtle weredetected by the people such as its ability to fortify the stomach and beingeffective for pulmonary and bladder infections. Other utilizations of myrtleincluded the treatment of bronchial infections, genito-urinary system, and forhaemorrhoids. The myrtle essential oil market is anticipated to expand at asignificant CAGR in the forecast period on the backdrop of emerging propertiesof myrtle essential oil for instance antiseptic, astringent, deodorant,expectorant, and a sedative substance.
Segmentation:-Africa
Myrtleessential oil market is segmented on the basis of application which includescosmetics & personal care, incense, dietary supplements, and aromatherapy.Amongst these applications, the aromatherapy segment is expected to flourish ata healthy rate owing to its ability to clean and open the respiratory passageand thereby finding its use in diffusers with other oils such as rosemary,thyme and ravensare. The personal care & cosmetics segment is alsoforecasted to show a moderate growth on the backdrop of its offered propertiessuch as astringent, antiseptic, and other benefits such as its actions againsthemorrhoids, acne, pimples, cystitis, infections in the urinary tract, andchronic problems like leucorrhea.
Myrtleessential oil market is segmented on the basis of the end use which includesretail and industrial. The retail segment is further sub-segmented asdistribution channel which includes online stores, hypermarkets/supermarkets,specialized drug stores, and convenience stores.
Global market drivers and restraints:-
The myrtleessential oil is gaining widespread popularity on the backdrop of its manifoldadvantages offered by it. Some of the properties of myrtle essential oil whichare primarily driving the myrtle essential oil market are its potential use inmouthwash in order to make gums contract and strengthen their hold onto theteeth, its capability to tighten the skin aimed at encountering the wrinkles,help stop hemorrhaging by inducing the blood vessels to contract. Moreover, themyrtle essential oil eliminates foul odors and used in incense sticks andburners, fumigants and vaporizers as room fresheners. The myrtle essential oilcan be also has a possible capacity to be used as an antiseptic and can beapplied on wounds to protect it against microbes. Additionally, myrtleessential oil reduces the presence and further deposition of phlegm and alsoclears congestion of the nasal tracts, bronchi and lungs resulting from coldsand provides good relief from coughing. The restraints of myrtle essential oilmarket are relatively few however are potential to affect the market andinclude the weak penetration in the market owing to the lack of awarenessamongst the population regarding the product and selection of potentialalternatives. Also, a few cases have been reported owing to the side-effects ofmyrtle essential oil however are not medically proven yet.
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Regional Outlook:-
The SouthAsian countries such as India, Indonesia, Singapore, Malaysia, Sri Lanka andothers lead as the top exporters as well as manufacturers of the benzoinessential oil market followed by North America and Europe. Most imports havebeen witnessed by the countries like U.S, Germany, U.K, China, Saudi Arabia,France, and others. Asia will remain as a potential market attributing to thegrowing economies of India and China. Furthermore, great potential in thebenzoin essential oil market can be attributed to its diverse uses.
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Major Key players:-
Some ofthe major key who are driving the myrtle essential oil market globally areYoung Living Essential Oils, Floracopeia Inc, MYSTIC MOMENTS, AromaticsInternational, Inovia International, Phoenix Aromas & Essential Oils LLC,and the like.
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