Consumer Inclination to Boost Essential Oils Growth

02/dic/2019 13:00:50 Grand View Research Contatta l'autore

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Essential Oils Market

As per the report by Grand View Research, Inc., the essential oils market size is poised to reach 403.06 kilotons and is estimated to witness a CAGR of 8.6 % by 2025. Growing disposable income, increasing research and developmental activities, and enhanced demand from cosmetic and food and beverage applications are anticipated to drive the demand for essential oils in the forecast period.

In addition, rising consumer consciousness about the ill-health results of synthetic chemicals used to add fragrances, texture, and aesthetic appeal of the food products and improved awareness about the use of essential oils has contributed to the growth of the market. Numerous health benefits offered by these oils are estimated to drive their demand in medical and pharmaceutical applications. Unlike most of the conventional drugs and medicines, they have no major side effects. Rising inclination of consumers toward organic and natural products is also leading to increased usage of essential oils in food and beverages and cosmetics industry. On the other hand, side effects related to certain essential oils and the reduction of natural resources are anticipated to hamper the market in the years to come.

Recently, Young Living Essential Oils, a major player in the market acquired Life Matters, a wellness company in a non-cash deal. This will support the company in expanding and strengthening its business.  Young Living Essential Oils developed its essential oil’s portfolio with the introduction of numerous products namely Cool Azul, Northern Lights Black Spruce, NEW Jade Lemon, and Light the Fire. This variety of products provides a merger of oils catering to the constantly changing consumer requirements.

Geographically, Asia Pacific is estimated to witness the highest CAGR in the forthcoming period. The growth of the essential oils in this region can be attributed to the presence of huge populace along with several untapped markets, which are estimated to appeal the attention of major players to establish and expand their distribution and operational services in this region.

Leading players effective in the essential oils market include Young Living Essential Oils; DoTerra; Essential Oils of New Zealand; NOW Foods; The Lebermuth Company; Flavex Naturextrakte GmbH; West India Spices Inc; and Ungerer and Company, Inc.

Access Press Release of Essential Oils Market @  https://www.grandviewresearch.com/press-release/global-essential-oil-market

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 Information: www.grandviewresearch.com

 

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