(Food-Beverage-News.Com, July 16, 2018 ) Report Description- U.S., China and India are the major producers, consumer and exporter of essential oil in the world. Essential oil market in India will witness higher growth rate during the forecasting period 2017 to 2023. Essential oil market in U.S. is growing at CAGR of 6.08% backed by advancement in processing technology of essential oil by manufacturers. China and Indonesia are one of the fastest growing essential oil producing countries in the world. The top five emerging countries in essential oil are India, China, Indonesia, U.S. and Canada. The world demand for essential oil is growing rapidly especially in developing countries like India and China due to rising awareness about health benefits of essential oil and improving economic condition.
Fragrance and flavor continue to dominate the essential oil market with more than 40% market share and aromatherapy will witness the higher growth rate during forecast period 2017 to 2023. Globally, the use of essential oil in cosmetics will reach USD 1,958 Million with CAGR of 5.76% during forecast period 2017 to 2023. Asia Pacific region will witness higher growth rate for essential oil application in cosmetics during forecast period. In America, essential oil application for aromatherapy will witness the significant growth due to increasing application essential oil in aromatherapy. Essential oil application in pharmaceutical in Europe will continue to grow at significant rate to capture more than 20% of market share in the year 2017. APAC region will witness higher growth rate for pharmaceutical application of essential oil during forecast period.
Essential oil market is projected to grow at 5.92% during the forecasted period 2017to 2023 whereas Asia Pacific region is expected to maintain its dominant position in upcoming years due to the growing demand for natural cosmetic products, rising awareness and increasing adoption of innovative essential oil solutions in varied application sectors. In America high per capita income, governmental subsidies and tax benefits are encouraging the production and application of essential oils in various field.
Key Players The leading market players in the Global Essential oil market primarily are Young Living (U.S.), doTerra (U.S.), Biolandes (France), The Lebermuth Co., Inc.(U.S.), Sydney Essential Oils (Australia), Shiv Sales Corporation (India) and Shaanxi Guanjie Technology Co., Ltd (India)
Target Audience • Essential oil Manufacturers • Food and beverage Industry • Agriculture Industry • Fragrance/ Aromatherapy industry • Cosmetics/personal care industry • Pharmaceutical Industry • Retailers and wholesalers • Traders, importers and exporters
Key Findings • The Global Essential oil market is projected to reach USD 18,956 million by 2023 with growth rate of 5.92% • Globally, application of Essential oil in aromatherapy is growing at higher rate of 6.19% • Globally, corn mint and orange essential oil holds more than 57% of market share in the year 2017
Regional and Country Analysis of functional protein market Development and Demand Forecast to 2022 Market
The reports also cover country level analysis: • America o U.S. o Canada o Mexico o Rest of America • Europe o Germany o U.K. o France o Rest of Europe • Asia Pacific o China o India o Indonesia o Japan o Rest of APAC • Rest of World o Nigeria o South Africa o Iran o Other Countries
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