The global essential oils market demand is expected to reach 473.31 kilotons by 2027, according to a new report by Grand View Research, Inc., registering a CAGR of 7.5% from 2020 to 2027. Aromatherapy is rapidly gaining momentum as a convenient method of healing lifestyle diseases, which is contributing to the demand for essential oils. It is also important to notice that sales are closely related to consumer education-the more consumers are informed regarding applications and usage of essential oils, greater is the sales.
Essential
oils are majorly composed of terpenes and their oxygenated derivatives, which
usually include monoterpenes and sesquiterpenes. They are present in
specialized cells/glands in various plants and the position of these glands
varies depending upon the morphology and physiology of the plant. During
manufacturing process, these glands are ruptured by pressing or by application
of heat, which emanates aroma. The product is composed of aromatic compounds,
which are volatile as well as hydrophobic in nature.
A
majority of the consumers demand essential oils for various purposes, such as
for enhancing air freshness at home by adding drops in aroma pots or aroma
diffusers, which diffuse oil in the form of atomized particles, and in aroma
bath by adding oils to the water. Young women use these products for making
homemade cosmetics owing to their natural content and medicinal benefits.
Rising
demand for organic products is another factor influencing consumer trends.
Further implementation of regulations favoring the use of environmentally
friendly ingredients in cosmetics and food and beverage industry has awakened
people's interest to seek products made from natural ingredients. The industry
has witnessed a sharp increase in demand for 100% plant-based products that are
devoid of synthetic fragrances and animal-derived components. As a result,
majority of the population is turning to organic products to gain health
benefits.
Owing
to the outbreak of coronavirus around the world, many of the countries are
observing lockdown situations. This is expected to lead to major raw material
shortages, disruption in supply chain, and increased prices of highly demanded
products in the next two to three quarters. Moreover, restrictions on imports
and exports of goods by any means from most of the South East Asian countries
can worsen the situation in the coming months. However, on the brighter side,
the temporary closure or slowing down of manufacturing plants of synthetic
flavors and fragrances in China can be seen as an opportunity to the essential
oil distillers as the manufacturers may turn to the smaller vendors to fulfil
their raw material requirements.
Full Research Report On Essential Oils Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/essential-oils-market
Essential Oils
Market Report Highlights
- In terms of
revenue, the orange oil product segment is expected to expand at a CAGR of
7.4% over the forecast period
- In 2019, food
and beverages application emerged as the second largest application
segment with a share of 38.6% in terms of volume
- Asia Pacific
is projected to witness the fastest growth over the forecast period.
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https://www.grandviewresearch.com/industry-analysis/essential-oils-market/request/rs1
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company, registered
in the State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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