The Essential Oils market is forecast to reach USD 346.6 Million by 2027, according to a new report by Reports and Data. Growing demand from the end-use industries is driving the demand for the market. Essential Oils find applications in industries such as aromatherapy, pharmaceuticals, food and beverage, personal care, and cosmetics. Increasing advancements in the methods of oil extraction are also leading to a surge in demand for the product.
Increasing disposable incomes, especially in developing countries, has led to the changing lifestyles of the population. There is a shift towards organic and natural personal care and cosmetic products, in the developing and developed countries. In countries like the U.S., the U.K., and Germany, there is increasing consumption of organically extracted oils in the cosmetics and personal care industries. This is leading to an increase in the market size of Essential Oils.
Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/3152
Key participants include AM Todd, Labbeemint, P Callison, Young Living Essential Oils, Sydney Essential Oil Co. (SEOC), Rocky Mountain Essential Oils, Moksha Lifestyle Products, India Essential Oils, Reynaud Fils (HRF), and Flavex Naturextrakte GmbH, among others.
Market Overview:
Rapid digitalization and sustainability have changed the dynamics of the chemicals and materials industry. Recent efforts to boost manufacturing and production capacity, improve RD costs, and enhance flexibility and agility of the production facilities are key factors expected to drive market growth over the forecast period. Integration of blockchain, machine learning, and the Internet of Things (IoT) to improve work efficiency and increase production output have contributed to revenue growth. Chemical industry and rapid integration of nanotechnology that has enhanced production of materials like polymers, chemicals, raw materials, and bio-based plastics are also predicted to boost revenue growth of the market going ahead.
The advent of 3D printing has revolutionized the production of materials and improved RD costs which has helped support new business models. In addition, advanced recycling technologies have addressed the concerns of plastic waste recycling and this has created a lot of lucrative opportunities for the companies operating in the market.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/mint-essential-oils-market
Further key findings from the report suggest
- Food and beverages occupied the second largest market share of 14.4% in 2019. Essential Oils are used in food for their minty taste and aroma. Another factor increasing consumption is the introduction of the therapeutic benefits of the product in food and beverages. The properties it offers, such as being anti-microbial and anti-oxidant, are expected to drive the growth of the product in the segment.
- Peppermint oil occupied 32.5% of the market share in 2019. This is due to the versatility of peppermint oil as it can be used topically, aromatically, and internally. The product is popular in household consumers because of its properties, such as being an insect repellant, flavoring agent in dishes, and its calming aroma. Increasing awareness regarding aromatherapy is expected to lead to a surge in the demand of Peppermint oil.
- Direct Usage segment is forecasted to grow at a CAGR of 8.9% in the forecast period. Direct usage involves buying directly from the manufacturer. This segment is smaller than indirect usage but is growing at a higher rate since consumers get special discounts and offer when buying directly from the manufacturer, and the increased cost due to middlemen is also eliminated. These benefits provided to the consumers are leading to the growth of this segment.
- Asia Pacific is forecasted to grow at a CAGR of 9.3% in the forecast period. Increasing disposable incomes of the population are leading to a better lifestyle among the people. This has led to an increase in the consumption of natural and organic ingredients-based cosmetics and personal care products. This factor is leading to an increased demand for the product from the region.
- In the U.S., the market is witnessing a high growth rate due to the rising demand for organic and natural products. The government has also allowed exemptions on import duty, which propagates the demand for the product. A large number of manufacturers present in the country are also driving the growth for the market.
Download Summary Report @ https://www.reportsanddata.com/download-summary-form/3152
For the purpose of this report, Reports and Data have segmented into the global Essential Oils market on the basis of product, application, usage, and region:
Product Outlook (Volume, Tons, 2017-2027, Revenue, USD Million; 2017-2027)
- Spearmint Oil
- Peppermint Oil
- Corn mint Oil
- Dementholized Peppermint Oil
Application Outlook (Volume, Tons, 2017-2027, Revenue, USD Million; 2017-2027)
- Medical
- Pharmaceutical
- Nutraceutical
- Cleaning and Home
- Kitchen Cleaners
- Floor Cleaners
- Bathroom Cleaners
- Fabric Care
- Food and Beverages
- Bakery
- Confectionary
- Dairy
- RTE Meals
- Beverages
- Meat, Poultry, and Seafood
- Snacks and Nutritional Bars
- Spa and Relaxation
- Aromatherapy
- Massage Oil
- Personal Care
- Cosmetics
- Hair Care
- Skin Care
- Sun Care
- Toiletries
- Soaps
- Shampoos
- Men’s Grooming
- Oral Care
- Baby Care
- Fragrances
- Perfumes
- Body Sprays
- Air Fresheners
Regional Outlook (Volume, Tons, 2017-2027, Revenue, USD Million; 2017-2027)
- North America
- Europe
- Asia Pacific
- MEA
- Latin America
Request a customization on the report @ https://www.reportsanddata.com/request-customization-form/3152
Thank you for reading our report. For further query, please connect with us and our team will provide you the report that suits your requirements.
Explore Reports and Data's Prime Analysis of the global Materials and Chemicals Industry:
Industrial Filters Market @ https://www.reportsanddata.com/press-release/global-industrial-filters-market
Medical Elastomers Market @ https://www.reportsanddata.com/press-release/global-medical-elastomers-market
Military Aerospace Coatings Market @ https://www.reportsanddata.com/press-release/global-military-aerospace-coatings-market
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Contact Us:
John W
Head of Business Development
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Read Our Innovative Blogs @ https://www.reportsanddata.com/blogs
