The Tea Tree Oil Market size is forecast to reach $61.37 million by 2025, growing at a CAGR of 5.81% during the forecast period 2020-2025. Tea tree oil is derived from the leaves of Melaleuca alternifolia. It has a bushy crown and a papery, whitish bark. The leaves are scattered or arranged alternately. Increasing usage in the FMCG sector & Pharmaceutical sector are the major factors driving the growth of the market. Increasing demand for the products that are natural, herbal, and organic is set to further enhance the overall market demand for the Tea Tree Oil Market during the forecast period 2020-2025.
Tea Tree Oil Market Segment Analysis - Application
The Cosmetic & Toiletries segment held the largest share in the Tea Tree Oil Market in 2019 and is estimated to grow at a CAGR of 6.2% during the forecast period 2020-2025 owing to its application in the production of different types of cosmetic products, such as shampoo & conditioners, skin-clearing lotions, mouthwash, body lotions, shower gels, cleansing soaps, deodorants, hand wash sanitizers, and face creams. The tea tree oil features antibacterial, antiviral, and antifungal properties and hence is majorly preferred in its non-diluted form. It is effective against a variety of fungal infections of the scalp, skin, and toenails owing to its antifungal properties. It is also a suitable treatment against herpes, cold sores, shingles, and warts owing to its antiviral properties. Cosmetic & Toiletries are set to be the highest growing segment and are estimated to register the highest CAGR during the forecast period 2020-2025.
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Tea Tree Oil Market Segment Analysis - End User
The Cosmetic Companies segment held the largest share in the Tea Tree Oil Market in 2019 owing to the surge in demand for tea tree oil in the production of various types of cosmetic products. Tea tree oil is increasingly used in pharmaceutical products as it's anti-inflammatory and anesthetic properties help reduce swelling and soothe pain, while its antibacterial action prevents infections and reduces scarring. It also helps cure skin ailments, cuts, burns, acne, cold sores, boils, warts, ringworm, skin rashes, herpes, corns, lice, insect bites, and fungal infections. Therefore, it is majorly used in the pharmaceutical industries to make different products that can be used by the customers to cure different infections or diseases. The Cosmetic Companies is set to be the highest growing segment and are estimated to register the highest CAGR during the forecast period 2020-2025.
Tea Tree Oil Market Segment Analysis - Geography
Asia Pacific dominated the Tea Tree Oil Market in 2019 with a share of more than 35.8%, followed by North America owing to the increased awareness about the health benefits of the tea tree oil. Rising cosmetic application & skincare routine along with its benefits to restricting the growth of the cancerous tumors and AIDS in the enhancement of the immunity is increasing the growth of the Tea Tree Oil Market in this region.
However, North America is estimated to grow at a higher CAGR during the forecast period 2020-2025 owing to the increasingly adverse effects on the environment and growing awareness about the side effects of the chemical on the human body. Traditional use of it in herbal medicine and long withstanding awareness about its existence is increasing the growth of the Tea Tree Oil Market in this region.
Tea Tree Oil Market Drivers
Increasing use in the FMCG sector & Pharmaceutical sector
Increasing use in the FMCG sector & Pharmaceutical sector is increasing the growth of the Tea Tree Oil Market. Tea tree oil can be used to treat conditions and symptoms that affect skin, nails, and hair. It can also be used as a deodorant, insect repellent, or mouthwash. When used topically, tea tree oil can treat certain skin conditions or improve the overall appearance of your skin. The chemicals in tea tree oil kill bacteria and fungus, and reduce allergic skin reactions. In aromatherapy, tea tree essential oil is revered as one of the most cleansings and clarifying scents. However, one must make certain that the tea tree oil comes from an organic, responsibly harvested source to avoid toxic artificial and adulterated products. Ayurvedically, the tea tree is efficient in reducing high Kapha (excess mucus) and excess pitta (infections, fever, and inflammation). It is considered to have cooling and tonic properties. Thus, increasing the growth of the Tea Tree Oil Market during the forecast period 2020-2025.
Ability to fight against skin cancer, and increasing use in cosmetic & personal care products
The ability to fight against skin cancer and increasing use in cosmetic & personal care products is increasing the growth of the Tea Tree Oil Market. Tea tree oil is a popular choice for treating acne owing to its anti-inflammatory and antimicrobial properties. It calms redness, swelling, and inflammation. It helps to prevent and reduce acne scars, leaving you with smooth, clear skin. Tea tree oil help in relieving any type of skin inflammation. It can be used to treat eczema naturally and even to reduce psoriasis. Helps in promoting healthy, strong hair, and can prevent or treat hair fall and also helps to open the clogged follicles and acts as a cleanser and conditioner. It can soothe dry scalp and even treat lice. It is a strong antiseptic and works on removing dandruff. Thus, increasing the growth of the Tea Tree Oil Market during the forecast period 2020-2025.
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Tea Tree Oil Market Challenges
Increasing concerns over the quality of the products and the probability of unbalanced supply chain
Some of the factors that are set to impede the growth of the Tea Tree Oil Market are increasing concerns over the quality of the products and the probability of an unbalanced supply chain.
Tea Tree Oil Market Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Tea Tree Oil Market. In 2019, the Tea Tree Oil Market share is consolidated by the top ten players present in the market. Tea Tree Oil Market, the top 10 companies are New Zealand Coromandel Mountains Tea Tree Oil Company Ltd., Young Living Essential Oils, Naturally Australian Tea Tree Oil Pty Ltd., NOW Foods, Natures Remedies, Unilever, AOS Products Pvt. Ltd., Oribi Oils (Pty) Ltd., Xi'an Natural Field Bio-Technique Co., Ltd., and Jenbrook Pty Ltd among others.
Acquisitions/Product Launches
In June 2019, Unilever, a producer and supplier of fats moving consumer goods in food product acquired Tatcha.
Key Takeaways
The Asia Pacific dominated the Tea Tree Oil Market in 2019 owing to the surge in preference for cosmetic & pharmaceutical products which are natural, chemical-free & involve fewer side effects among the consumers and consumer’s greater emphasis towards health care has enforced the manufacturers to focus more towards the quality of raw material or ingredient used in products.The Tea Tree Oil Market scope for different regions will be provided in the final report.
An increase in the urban population along with the rise in the disposable income and rise in awareness about the benefits of the tea are likely to aid in the market growth of the Tea Tree Oil Market.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Tea Tree Oil Market report.
Increasing concerns over the quality of the products and the probability of an unbalanced supply chain are poise to create hurdles for the Tea Tree Oil Market.
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