Organic Essential Oils Market Size, Share, Supply, Demand, Segments and Forecast 2029
The global organic essential oils market size is anticipated to garner colossal growth in the forthcoming years. Organic essential oils are fragrant compounds extracted from plants that are organically produced. The surging demand for organic products is predicted to foster growth in the market. Fortune Business InsightsTM has presented this information in its upcoming report titled, “Organic Essential Oils Market, 2022-2029”.
Essential oils are widely used by cosmetics, pharmaceutical, food, and personal care industries due to their fragrance. They offer numerous health advantages such as stress, insomnia, and anxiety relief. The growing demand from end-use sectors is likely to bolster the market’s expansion in the coming years.
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The market has witnessed a mixed effect from the coronavirus pandemic. Organic essential oils have witnessed a rise in demand during the pandemic. Though the supply chain disruptions hindered the market growth, the antioxidant and antimicrobial properties surged the product adoption. Additionally, the coronavirus affected the human lungs. This factor proliferated the demand for organic essential oils as they aid in respiratory issues. The growing awareness is likely to magnify the market growth post-pandemic.
On the basis of type, the market is segmented into tea tree oil, lavender oil, peppermint oil, eucalyptus oil, lemon oil, orange oil, and others. On the basis of application, the market is trifurcated into pharmaceuticals, personal care & cosmetics, and food & beverage. Geographically, the market is classified into Europe, South America, Asia Pacific, North America, and the Middle East & Africa.
- It includes a detailed description and analysis of various segments of the market.
- It highlights the latest key industry developments.
- It includes a detailed analysis of the coronavirus pandemic.
- It assimilates the crucial drivers and restraints of the market’s expansion.
- It highlights the market’s growth analyzed and forecasted across various geographies.
Drivers & Restraints-
Surging Demand for Organic Products to Bolster Market Expansion
The demand for organic products has substantially augmented in recent years. The food & beverage industry is a huge consumer of essential oils as they aid in the shelf expansion of food products. The rising demand for safe, organic, and natural food products is likely to bolster the global organic essential oils market growth. The growing incorporation of essential oils in personal care & cosmetic products is anticipated to flourish in growth for the market. They are widely utilized in several personal care products, including hair oils, face creams, and body washes. They also help in relieving skin ailments such as acne, scars, and psoriasis. These factors are projected to significantly stimulate market growth.
However, the high prices of organic essential oils due to the expensive production process may limit the market growth during the forecast period.
Improving Disposable Income Levels in Asia Pacific
Europe is anticipated to attain a huge organic essential oils market share. The rising preference of cosmetic manufacturers in incorporating organic essential oils in various products is predicted to favor the market’s expansion. Moreover, the various regulations to promote and safeguard the use of essential oils is predicted to boost growth in Europe.
Asia Pacific is projected to gain remarkable growth in the forthcoming years. The untapped markets in China, Japan, and India are likely to offer lucrative growth opportunities for the organic essential oils market. Additionally, the huge consumer bases in India and China, coupled with the swift urbanization and improving disposable income levels are predicted to amplify market growth in Asia Pacific. Moreover, the growing consumer awareness of the applications, health benefits, and functionalities of these oils is expected to augment market expansion in Asia Pacific.
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Key Players Unveil New Products to Uptick their Global Positions
The major players operating in the market emphasize upgrading current product portfolios by incorporating advanced technologies to enhance their offerings. The major market players adopt ingenious strategies, including contracts, acquisitions, mergers, collaborations, and others to amplify their growth prospects. For instance, Vthrive brand was launched by Vitamin Shoppe LLC in January 2020. The new brand is a premium line of organic, minerals, and vitamin-rich organic essential oils.
Key Industry Developments-
- August 2020: Essential Candy introduced healthy hard candies infused with pure organic essential oils as a palatable solution for chemotherapy’s side effects to help consumers suffering from cancer.
List of Key Market Players-
- Starwest Botanicals Inc.
- Biotique Essential Oils Group (BEEG)
- Plant Therapy Inc.
- Eden Botanicals
- Reynaud & Fils
- Young Living Essential Oils
- India Essential Oils
- Biolandes SAS
- Sydney Essential Oil Co.
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