Essential Oils Market Overview 2019-2024: Industry Revenue, Regional Analysis and Business Opportunities
Date: 2019-06-13   Author: Rahul Sankrityayan  Category: #market

Essential Oils Market Overview 2019-2024: Industry Revenue, Regional Analysis and Business Opportunities

Global Market Insights, Inc. has added a new report on Essential Oils Market that provides a comprehensive review of this industry with respect to the driving forces influencing the market size. Comprising the current and future trends defining the dynamics of this industry vertical, this report also incorporates the regional landscape of market in tandem with its competitive terrain.

A renowned American aromatherapy and essential oils market player Honé has recently announced that it is proudly taking the concept of aromatherapy several notches up with its all brand new ‘essential oil scented nose diffuser.’ Honé’s introduction of a remarkable and innovative way of reducing unpleasant smell by wearing a discreet nose diffuser has been touted to help the company garner substantial proceeds in the years ahead. For the record, the nose diffuser is an essential oil scented and flexible nose ring designed to prevent odors from entering the nose, while giving a pleasant effect on the users’ mood & daily routine. The company, for its essential oil scented nose diffuser, has launched a campaign to raise crowdfunds on Kickstarter.

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Aromatherapy is forming another lucrative application segment, which is gaining immense traction of late, given the growing population looking for alternative remedial treatments and replacement for pharmaceutical drugs. Rising demand form health conscious consumers for aromatherapy to balance their mental and physical well-being is expected to significantly fuel the product demand. With an estimated valuation of over USD 2.5 billion by 2024, aromatherapy application is expected to be nothing but a profitable growth avenue for essential oils market.

The remarkable industry valuation also throws lights on the growing popularity of essential oils in the cosmetics & toiletries, fragrances, aromatherapy, food & beverage, pharmaceutical, and other sectors. Reliable reports claim that the overall essential oils industry share garnered hefty remuneration from the food & beverage application, given the extensive demand for black pepper, rosemary, clove, orange, lemon, and cinnamon oils for cooking and flavoring cuisines & beverages. Another vital factor driving the demand of essential oils market from the F&B industry is the supportive FDA regulations regarding the approval of natural, plant-based and organic oils, offering antimicrobial and antioxidant properties, for consumption. Analyzing these emerging trends, estimates claim that the global essential oils market from F&B application is projected to surpass 145 kilo tons of demand by 2024.

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France essential oils market may register gains up to 8.5% by 2024. Occurrence of major cosmetic manufacturing companies has led to increasing imports of these oils in this country, thus propelling product demand. Intensive marketing strategy of companies generating awareness about essential oils and aromatherapy is likely to foster industry growth.

Lavender oil market size is anticipated to reach over 20 kilo tons by 2024. It helps in combating serious health conditions like cancer, chronic anxiety & stress along with reverse signs of ageing, relieves pain, and headaches which makes it suitable for pharmaceutical, aromatherapy and cosmetic applications, thus driving product demand.

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Global essential oils market share is competitive and moderately fragmented with major companies including Frutarom, Firmnich, BioLandes, DoTerra, Flacon Young Living, Rock Mountain Moksha Lifestyle, Flavex, Florihana, BO International.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for AlgosOnline, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in t...

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