New York
City, 19 January 2019: The Report Essential Oil Market is anticipated to reach USD 16,172.2
million by 2026. In 2017, the orange essential oil segment dominated the global
market, in terms of revenue. Europe is expected to be the leading contributor
to the global market revenue during the forecast period.
A significant increase in disposable
income, changing lifestyles, and initiatives by market players to promote
healthy lifestyles drive the growth of this market. Other driving factors
include increasing incidences of stress and anxiety, growing inclination
towards use of natural and organic products, and increasing awareness regarding
physical and mental health. The use of essential oils in various applications
such as food and beverages, healthcare, pharmaceutical, cosmetics, and
aromatherapy further propel the market growth. Increasing demand in developing
nations is expected provide numerous growth opportunities to the market players
during the forecast period.
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There has been a shift towards e-commerce and consumers are increasingly purchasing essential oils through online platforms. The variety of choices available coupled with ease of purchase offered by online platforms encourages consumers to buy essential oils online, supplementing the growth of the market.
Improvement in lifestyle due to rise in
income level, especially in the developing countries of Asia-Pacific fuels the
demand for essential oils market. Factors such as increase in per capita income
and changes in consumer behavior towards physical and mental health are
expected to accelerate the adoption of essential oils in the coming years.
Competitive Landscape and Key Vendors:
Europe generated the highest revenue in
the market in 2017, and is expected to lead the global market throughout the
forecast period. The high geriatric population in the region coupled with high
disposable income drives the market growth. The high demand of essential
oils in food & beverages and cosmetic products support the market
growth in the region. Asia-Pacific is expected to grow at the highest CAGR
during the forecast period owing to increasing disposable incomes in developing
countries of this region, rising awareness about benefits of essential oils,
and rising demand of essential oils from healthcare sector in this region.
The well-known
companies profiled in the report include Dōterra International LLC., Rocky
Mountain Oils, LLC, Naturals Together, Robertet SA, Now Health Group, Inc.,
Biolandes SAS, Falcon Essential Oils, Ungerer Limited, The Lebermuth Company,
Flavex Naturextrakte GmbH, Farotti Srl, and E. I. Du Pont De Nemours and
Company among others. These companies launch new products and collaborate with
other market leaders to innovate and launch new products to meet the increasing
needs and requirements of consumers.
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