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01 Nov 2021, 20:21 GMT+10
The global Essential Oils market report is an exhaustive analysis of the chemicals and materials industry and offers key insights into the market dynamics, drivers, restraints, current and emerging trends, and growth opportunities in the Essential Oils market. According to the current analysis of Reports and Data, the global essential oils (EO) market was valued at USD 9.15 Billion in 2020 and is expected to reach USD 17.68 Billion by the year 2028, at a CAGR of 8.7%. EOs are antiseptic, antibacterial, disinfectant, and biotic in nature, and, depending on the essence used, they may be soothing and relaxing as well. This encourages the use of multipurpose oil in treating a wide variety of ailments. EOs may also be applied in several ways, the most popular being inhalations, compresses, bath, massage, and mainly mixed into creams, lotions, ointments, and vegetable oils. Change in consumer preference from chemical products to natural products is one of the main driving factors. Another factor is its ability to act as a perfect substitute for various products, such as cleaning items, replacing the use of benzyl peroxide in the market.
Continuous innovation and product launches by players in the market is likely to drive demand. In order to meet the market demand and supply, the manufacturers have been focusing on innovation and raising the efficiency of the production process. For instance, genetic engineering was used to regenerate transgenic plants, and these plants produced substantially more essential oil (about 50% yield increase) without a change in monoterpene. Similarly, EOs are used as preservatives extensively due to their low solubility, instability against environmental conditions, and susceptibility to oxidative degradation and decline in the antimicrobial activity. Therefore, the nanoemulsion formulation is being used.
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Cargill (U.S.), E.I. du Pont de Nemours and Company (U.S.), Koninklijke DSM N.V. (Netherlands), dôTERRA International LLC. (U.S.), Young Living Essential Oils (U.S.) and Givaudan SA (Switzerland). Based in the U.S., Young Living Essential Oils is into the production of essential oils and other related products. The company offers a diverse portfolio including lavender, cardamom, basil. Clove, coriander and eucalyptus, to name a few. The products are available in blends and singles for personal care and food applications.
North America is projected to be a key revenue generating region for the market. This can be attributed to the increasing demand for bio-based personal care products and aromatic cleaning agents in the region. Moreover, the rising demand for organic processed foods and beverages is also likely to boost demand in the region. Presence of key players in the region including Biolandes SAS, doTerra International, Ungerer Limited, Aura Cacia, Young Living Essential Oils, and The Nature's Bounty Co. to name a few, is also forecasted to create lucrative growth opportunities for the market. Furthermore, the concentration of leading cosmetic industries in the region is also expected to boost the market growth.
Further key findings from the report suggest
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For the purpose of this report, Reports and Data has segmented the Essential Oils Market on the basis of Region, product type, method of extraction, and application:
Regional Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
Product Type (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
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Method of Extraction (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
Application (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
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