(I-BusinessNews.Com, August 08, 2019 ) The report “Essential Oils Market by Product Type (Orange, Lemon, Lime, Peppermint, Citronella, Jasmine), Method of Extraction, Application (Food & Beverage, Cosmetics & Toiletries, Aromatherapy, Home Care, Health Care), and Region – Global Forecast to 2022″, The market for essential oils is projected to reach USD 11.19 Billion by 2022 growing at a CAGR of 8.83% from 2017 to 2022. The market is driven by economic factors such as rising double income households and increasing disposable incomes among consumers. Moreover, growing research & development activities and increased demand from food & beverage and cosmetic applications are also driving the market.
The objectives of the study include the following:
1. To define, segment, and measure the size of the essential oils market with respect to its product type, method of extraction, application, and region
2. To provide detailed information about the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
3. To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for the market leaders
4. To project the size of the market in terms of value and volume, with respect to four regions (along with their respective key countries), namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW)
5. To strategically profile the key players and comprehensively analyze their core competencies
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Aromatherapy projected to be the fastest-growing segment in the essential oils market, by application, during the forecast period 2017–2022
Essential oils are volatile liquid substances extracted from aromatic plant material by different types of extraction methods. They have potent antioxidant and anti-microbial properties and can be used to treat depression and stress-related diseases. Different types of essential oils used in aromatherapy include tea tree oil, jasmine oil, rosemary oil, and lavender oil. These oils are used in massage therapies, acupuncture, and topical care. Changing lifestyles and their consequences, such as high stress and depression, along with increasing disposable incomes, result in an increase in demand for aromatherapy.
On the basis of method of extraction, the distillation segment is estimated to be the largest market in the essential oil industry in 2017
Distillation is the process of separating components of a mixture by evaporating and then condensing the vapor into liquid. It is a technique which is slightly volatile, where the water-insoluble substances are separated from nonvolatile materials by means of distillation. Different types of distillation methods are used such as water distillation, water & steam distillation, and steam distillation for extraction of oils. Distillation is one of the primary methods used for extraction in essential oil industries.
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Significant growth for essential oil is observed in the Asia-Pacific region
The Asia-Pacific region is segmented into China, Japan, India, Australia & New Zealand, and Rest of Asia-Pacific. The increase in preference of consumers for natural essential oil ingredients such as peppermint & spearmint and rise in purchasing power parity in the region is driving the demand for essential oils in applications such as aromatherapy, health care, and food & beverages.
This report includes a study of marketing and development strategies, along with the product portfolio of leading companies in essential oils market. It includes the profiles of leading companies such as Cargill (U.S.), E.I. du Pont de Nemours and Company (U.S.), Koninklijke DSM N.V. (Netherlands), and Givaudan SA (Switzerland).
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