Fior Markets launched a study titled “Global Essential Oils Market by Product (Orange, Eucalyptus, Corn Mint, Peppermint, Citronella, Lemon, Lime, Others), Channels of Distribution,Application, Region Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025.
The global essential oils market is expected to grow from USD 7.9 Billion in 2017 to USD 16.2 Billion by 2025 at a CAGR of 9.4% during the forecast period from 2018-2025.Implementation of natural & herbal treatment along with growing economic standards has increased essential oils demand. Also, growingreliability over natural and organic ingredients in cosmetic formulations is likely to promote product demand
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The orange oil is dominating the market with the highest share of 22.50% in 2017
The product segment is classified into orange, eucalyptus, corn mint, peppermint, citronella, lemon, lime, clover leaf, spearmint and others.The orange oil is dominating the market in 2017. Various industries are employing orange essential oils to enhance product value and sensory appeal. This oil helps to firm up the skin, uphold elasticity, and tone up the skin as well as treat acne, dermatitis and stretch marks. They also helps in improving quality of hair, nails, and skin, boosting their appeal among women and female teenage consumers.
The other sales channel valued around USD 4.98 Billion in 2017
Channels of distribution segment is divided into segments such as direct selling and other sales channels. The other sales channel is likely to dominate the market in 2017. Growing awareness regarding essential oils among public has caused increased adoption of a wide range of retail channels such as accessory shops, home centers, convenience stores, and discount stores. Also, many importers and wholesalers have launched websites for online sales, in addition to existing over-the-counter sales.
The food and beverage is dominating the market with the highest share of 37.20% in 2017
Application segment is bifurcated into food & beverages, medical, cleaning & home, spa & relaxation and others. The food and beverage segment is dominating the market in 2017. Essential oils have a high significance in the food industry because of their antioxidant, antifungal and antibacterial properties exhibited by them.
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Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Asia Pacific region is dominating the market with the highest share of 40.40% in 2017 because of huge population along with various untapped markets which are projected to attract attention of key players to expand and establish their operational and distribution facilities in this region.
The major players ofmarketinclude Essential Oilsmarket are DoTerra; Young Living Essential Oils; Essential Oils of New Zealand; The Lebermuth Company; NOW Foods; India Essential Oils; FlavexNaturextrakte GmbH; Ungerer and Company, Inc.; and West India Spices Inc., Biolandes, Sydney Essential Oils Co. Pty Ltd, Farotti SRL, Essential Oils of New Zealand, H.Reynaude&Fils, Moksha Lifestyle Products
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