Essential Oil Market – Key Feature of Industry & Forecast 2017 – 2022
by kksingha · January 9 49ers Eli Harold Jersey , 2019


The market鈥檚 opportunity is expected to touch US$17.36 bn by 2017. Further, the market is projected to expand at a CAGR of 9.60% between 2017 and 2022 and attain a value of US$27.49 bn by the end of 2022. The escalating industrialization and the augmenting disposable income of consumers are the also projected to drive the growth of this market in the near future, especially in emerging countries, such as India, China, Thailand 49ers Jaquiski Tartt Jersey , and Vietnam.


The global essential oil market is observing a significant expansion in its size, thanks to the increasing usage of essential oil in aromatherapy. The augmenting demand for flavored food and beverages products among consumers is also boosting this market substantially. With the rising development of innovative beauty and personal care products, fueled by the increasing preference for natural products, the usage of essential oil for the creation of new fragrances is surging, leading to an expected upswing in this market over the next few years.


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Demand for Citrus Oil to Remain High


The worldwide market for essential oil is broadly evaluated on the basis of the type of the product, sales channel 49ers Arik Armstead Jersey , extraction method, and the application. Spice oil, herb oil, citrus oil, spice seed oil, and perfumery oil are the main types of essential oil available in the global market. The demand for citrus oil has been relatively higher than other products and the trend is anticipated to remain on an upward streak in the years to come.


Majorly 49ers DeForest Buckner Jersey , essential oils find application in the personal care and cosmetic, food and beverage, pharmaceuticals, aromatherapy, and the industrial sectors. The food and beverages and the personal care and cosmetic industries are reporting a greater demand for essential oil, owing to the increasing preference for flavored food products and beverages and fragrant cosmetics and beauty products among consumers. The aromatherapy and the pharmaceutical sectors are also expected to register a high demand for essential oil over the forthcoming years. Essential oils are primarily extracted through distillation 49ers Joe Williams Jersey , solvent, and cold pressing and are sold through specialty stores, drug stores, online stores, and modern trade.


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Growth of Europe Essential Oil Market to Slow-down Due to Saturation


The global market for essential oil is also assessed on the basis of region. The Middle East and Africa (MEA), Asia Pacific excluding Japan (APEJ) 49ers C.J. Beathard Jersey , Latin America, North America, Europe, and Japan have been considered as the prime regional markets for essential oil across the world. Hitherato, Europe has been leading the global market. However, the growth of this regional market is expected to slowdown in the near future due to saturation. The Europe market for essential oil is expected to rise at a CAGR of 8.80% during the period from 2017 to 2022.

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