The global essential oils market size is expected to reach USD 14.6 billion by the end of 2026. As per the report, the market stood at USD 7.03 billion in 2018 and is projected to exhibit a stellar CAGR of 9.65% during the forecast period of 2019-2026. This vital information is stated by Fortune Business Insights™, in its report, titled, “Essential Oils Market, 2019-2026.” The global food and beverage industry is experiencing steady, yet significant evolution regarding ingredients formulations. The growing inclination of consumers towards organic and naturally grown products have categorized essential oils an essential component of choice in food processing. This is likely to mark a significant contribution towards the growth of the market.
A List of Renowned Essential Oil Manufacturers Present in the Global Market:
- Biolandes SAS
- Givaudan International SA
- International Flavors & Fragrances Inc.
- Symrise AG
- Enio Bonchev Production Ltd.
- The Lebermuth Company, Inc.
- Now Foods
- Phoenix Aromas & Essential Oils LLC
- Ultra International B.V.
- Young Living Essential Oils
 |
| Get Sample PDF Brochure |
REPORT COVERAGE-
We follow a comprehensive
research methodology that focuses majorly on offering accurate information. Our
researchers have used a data triangulation technique which would help us to
provide authentic estimates and gauge the overall market dynamics. Besides, our
analysts gained access to several global and regional paid databases for
delivering the latest information so that you can invest only in the crucial
zones.
DRIVERS & RESTRAINTS-
Essential Oils Used as a Preservation Source
to Bolster Market Growth
Essential oils have a
vital role to carry out regarding the organic preservation of foods during the rising
fear for artificial food essences and their long-standing unfavorable outcomes.
Several clinical trials, where the ranging based on concentration levels for the
oils to be 0.5 to 20 microliters per gram, have observed antibacterial activities
in foods such as meat products, sea-food, milk, milk products, vegetables, and even
cooked rice, among others. There has been a significant collaboration
established using mild preservation methods coupled with essential oils.
Furthermore, it is a great opportunity for R&D to combine and utilize the
oil as food additives and is anticipated to deliver further motivation for the essential
oils market to grow.
Read a
Detailed Summary of This Report: https://www.fortunebusinessinsights.com/industry-reports/essential-oils-market-101063
COVID-19 IMPACT-
Inhalation of Essential Oils Likely to be
Beneficial to Stall COVID-19 Virus
Since the COVID-19
virus outbreak, the disease has reached every country around the globe, which
is why the World Health Organization declared it as a public health emergency.
The global impacts of the coronavirus disease were observed by every industry and
public too and significantly affected the essential oil market positively.
According to International Journal of Pharmaceutical Science and Research,
inhalation of certain essential oils can be beneficial and an adjuvant
therapeutic strategy to stall COVID-19. This study is likely to boost the
demand and growth of essential oils market.
REGIONAL INSIGHTS-
North America and Europe to Co-Lead the
Market Backed by Attraction of Aromatherapy
The essential oils
market share in the North American region was worth USD 1.79 billion in 2018. The
developed nations of the European region and the U.S. have acknowledged few of
the constituents of essential oils such as cinnamaldehyde, carvone, Citral, carvacrol,
p-cymene, among others as a valid flavouring. The cosmetic developers in Europe
too are leaning immensely to include essential oils in their products.
The rising popularity for aromatherapy in major markets of the leading
countries in the European region are projected to make a notable contribution
to the sales segment of these oils further promoting the essential oils market growth.
COMPETITIVE LANDSCAPE-
Innovative Launches by Key Players to Further
Promote Market Growth
The
prominent players in the market are constantly watching out for opportunities
to invest, launch or merge with other key companies to bolster their position
in the market. They plan effective strategies along with the help of their
expert advisors to enhance their brand value and ensure better reach among the
end-users. One such efficient strategy is launching innovative products to
attract consumers from all regions.
For example, in
November 2018, Young Living Essential Oils launched its offerings and solutions
in Philippines, which falls in the Southeast Asian market.
AN INDUSTRY DEVELOPMENT-
- July
2019: dōTERRA revealed its
custom-designed label that offers space for two languages on essential oil
bottles. This development is estimated to work in favour of the company and in maintaining
the clean and modernised design of its prevailing labels. This is anticipated
to boost the growth of essential oils market in the near future.
great share
ReplyDeleteWhat Are The Best Business Management Trends Nowadays?