Global Essential Oils Market Generated $ 10.8 Billion In Revenue In 2020, Says P&S Intelligence
NEW YORK, July 8, 2021 / PRNewswire / – Growing consumer demand for natural products, the increasing use of aromatherapy for anxiety and stress relief, and the increasing application of essential oils in the cosmetic and cosmetic industries food and beverage will propel the global essential oils market at a healthy CAGR during 2021-2030.
Due to closures and movement restrictions put in place following the COVID-19 pandemic, the essential oils market took a hit. In fact, not only has production and trade in these products stopped, but even demand for them has declined. All over the world, cosmetic centers and spas have been closed, resulting in a significant demand for essential oils.
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The essential oils market is categorized into food and beverage, aromatherapy, cosmetics and toiletries, health care, home care, and others on the basis of application. During the forecast period, the highest CAGR will be observed in the aromatherapy category due to the increasing adoption of this approach for the management of stress, depression, anxiety and others. mental illnesses.
Carbon dioxide extraction, distillation, solvent extraction, cold pressure extraction and others are the categories of extraction method segment. Of these, the category of distillation is expected to dominate the essential oil market until 2030. During distillation, the components of a solution are extracted by first evaporating the solution and then cooling it to liquid. Essential oils contained in different plant species require varying processing time, pressure and temperature, all of which can be changed during the distillation process. The process thus offers a precise approach to obtain the essential oil in its purest form.
Browse the Detailed Report with COVID-19 Impact Analysis on Essential Oils Market Research Report: By Type (Orange, Eucalyptus, Corn Mint, Peppermint, Lemongrass, Lemon, Lime, Nail clove, spearmint, rosemary, lavender), extraction method (distillation, carbon dioxide) Extraction, cold press extraction, solvent extraction), application (food and drink, cosmetics and toiletries, aromatherapy, body care Home, Healthcare) – Global Industry Analysis & Growth Forecast to 2030 @ https://www.psmarketresearch.com/market- analyze / market-in-essential-oils
The fastest growing essential oils market will be seen in Asia Pacific (APAC) during the forecast period as these products are affordable and readily available here. Additionally, people’s stressful lives and increasing awareness of alternative methods of stress and anxiety management will propel the market. The other key factors driving the demand for essential oils in the region are technological advancements in the field and the growth of the medical tourism sector.
Market players engaged in product launches and technological advancements
In order to target more customers, companies in the essential oils market are expanding their product portfolio.
For example, in October 2020Lemon Eucalyptus Essential Oil, extracted from the lemon-scented blue gum eucalyptus plant, was launched by dōTERRA International LLC. According to the company, the product’s scent encourages a positive environment and mixing it with a diffuser balances the aromas or sweetness.
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Likewise, in August 2020, a new line of skin care, essential oil blends, diffusers and wearable rings infused with essential oils have been introduced by Young Living Essential Oils. The goal of the product launch was to empower people to take better care of their families, homes and themselves during the stressful time of COVID-19.
The main players in the global essential oils market are dōTERRA International LLC, Rocky Mountain Oils LLC, Plant Therapy Inc., Young Living Essential Oils, Vitruvi, Edens Garden, Frontier Co-op, Organic Aromas, PublicGoods, REVIVE Essential Oils LLC, Majestic Pure Cosmeceuticals and NOW Health Group Inc.
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SOURCE P&S Intelligence