Shift in Preference to Drive the Essential Oils Market Across the Globe
“According to a new market research report published by Inkwood Research, “the Global Essential Oils Market is expected to grow at a CAGR of 8.10% in terms of revenue, and 7.59% in terms of volume, between 2019 and 2027.”
“Browse 34 Market Data Tables and 44 Figures spread over 153 pages, along with an in-depth TOC Global Essential Oils Market Forecast 2019-2027.”
Essential oils are extracted from plants and are complex mixtures of organic chemicals through various processes like solvent extraction, cold pressing, distillation, resin tapping, etc. They are distinct from conventional oils like fatty vegetable oils since they volatilize in air and have a strong and pleasant aroma, are also known as volatile oils. They find applications in food & beverages, soaps, cosmetics, etc.
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Shifting Preference towards Natural Personal Care boosts the Market Globally
The increasing disposable income and the working women’s population are projected to drive the demands for personal care products across the globe. Moreover, increasing awareness with regard to feminine hygiene has further resulted in the adoption of natural products and cosmetics. These sectors make use of essential oils due to their sensory appeal and product value. These oils are acclaimed to tone the skin, and aid in treating acne and stretch marks. They are also said to improve hair, nails, and body care. This appeals to women and teenagers. Such factors propel the demand for natural personal care products, thereby boosting the essential oils market growth.
Orange Oil is the leading type in the product segment
They are made from orange peels using cold compression. Orange oil is used in aromatherapy and entails therapeutic benefits. It is relatively cheaper than other essential oils and is easily available in the market. The orange oil’s scent has a soothing effect and is said to decrease pulse rate, improve immunity, and have many medicinal applications ranging from acne treatment to mental health. They are beneficial in sustaining the appearance, health, and texture of the skin. It is also added to enhance the orange flavor in candies, desserts, soft drinks, etc., and also utilized in the production of cosmetics and skincare products like creams, soaps, lotions, etc. It is also used in cleaning products due to its antiseptic properties.
The Asia Pacific is the Fastest-Growing Region in the Global Market
The Asia Pacific is set to be the fastest-growing region, owing to increasing awareness and concerns regarding health from the developing economies of the region. The food and beverage industry is projected to witness growth in the region, as a result of the growing population. Moreover, the economically developing countries are leading to increasing urban population, which drives the sales of the essential oils. The increasing demands from the flavors & fragrance industry is another driver for market growth in the Asia Pacific region.
The conducive nature of the market has resulted in the emergence of renowned and new players in the market. Sydney Essential Oils Co. is one of the key suppliers of natural products and essential oils that produce certified essential oils. The company has six operating segments. The base products of the company are used in diluting the essential oils.
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