Thecompetitive landscape of the global essential oil market is highly fragmented landscape,says Transparency Market Research (TMR). This is mainly due to the presence ofseveral key players across the globe. Key players in the market are focusing onnovel techniques to improve properties and expand applications of essentialoil. Apart from this, players are ramping up their investment in researchand development to produce advanced blends for aromatherapy and preservation.
DoTERRAInternational LLC, The Lebermuth Co. Inc., Young Living Essential Oil, and EnioBonchev Production Ltd are some of the prominent players operating in theglobal essential oil market.
Accordingto a research report by TMR, the global essential oil market was valued atUS$17.36 bn in 2017. The market is projected to rise at an impressive 9.60%CAGR in the forecast period from 2018 to 2022. Rising at this CAGR, themarket is projected to touch a valuation of US$27.49bn by the end of theforecast period
Onthe basis of geography, Europe is expected to lead the global essential oilmarket with the presence of several key players in the region. The market inEurope is subjected to rise at 8.8% CAGR during the forecast period.On the basis of application, personal care and cosmetic is expected to holdmaximum share in the essential oil market in the coming years. This is mainlybecause of the soaring demand for essential oil in manufacturing severalcosmetic products.
Request Sample
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=31019
RisingAwareness of Essential Oil Benefits to Drive the Market
Theglobal essential oil market is expected to rise at a significant pace. This ismainly due to the factors such as rising awareness among consumers, increase indisposable income and growing application of essential oil in severalindustries. Apart from this, blooming end use industries such as food andbeverage, personal care and cosmetic industry, and aromatherapy is anotherfactor expected to offer a substantial boost to the global essential oilmarket. Aromatherapy is gaining prominence, especially among urban population,due to changing lifestyles and rising media influence. This has translated intoan upswing in the demand for the product.
Despiteseveral drivers, the global essential oil market is projected to witness a fewchallenges. High prices of essential oil is the prominent factorhampering the wide scale adoption of essential oil market. Furthermore, lack ofawareness among consumers about key benefits of certain essential oils isanother prominent factor hampering growth of the essential oils market.Nevertheless, spur in research and development of innovative extractiontechniques is expected to bolster growth of the essential oil market indeveloping regions.
More Trending Reports
StrongDistribution Channels to Offer Lucrative Opportunities
Increasingadoption of essential oil by people has resulted in emergence and acceptance ofa wide range of retail channels across the globe. Apart from accessoryshops, home centers, convenience stores, and discount stores, players arelaunching their online stores to improve their geographical reach. Further,essential oils are believed to possess properties like skin tightening and acnetreatment. They contribute to improving quality of hair, nails, and skin, thisappeal a large women and female teenage consumers. Swelling working womenpopulation base are projected to propel the essential oil market during theforecast period.
Request Covid19 analysis on thismarket
https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=31019
AboutUs
TransparencyMarket Research is a next-generation market intelligence provider, offeringfact-based solutions to business leaders, consultants, and strategyprofessionals.
Buy Now
https://www.transparencymarketresearch.com/checkout.php?rep_id=31019<ype=S
Ourreports are single-point solutions for businesses to grow, evolve, and mature.Our real-time data collection methods along with ability to track more than onemillion high growth niche products are aligned with your aims. The detailed andproprietary statistical models used by our analysts offer insights for makingright decision in the shortest span of time. For organizations that requirespecific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of rightsense of fact-oriented problem solving methodologies and leveraging existingdata repositories.
TMRbelieves that unison of solutions for clients-specific problems with rightmethodology of research is the key to help enterprises reach right decision.
USOffice Contact
90State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com
