A recent research study published by MarkNtel Advisors cites that the Essential Oils Market is set to record around 8.8% CAGR during 2022-2027. The major growth factors, challenges, opportunities, restraints, market trends, & competitive landscape are all discussed extensively in the report as per the following:
Historical Period: 2017-2020
Base Year: 2021
Forecast Years: 2022-27
Units: USD Million/Billion
The study also comprises the recent developments by the leading players operating in the market, their product portfolio, growth strategies, geographical presence, & financial situation. Both primary & secondary research methods have been used to attain precise & thorough information. The major restraints that may pose risks to the market expansion in the forecast years are also covered in the report. Moreover, it also offers useful insights on the untapped opportunities and challenges, along with some noteworthy recommendations to help companies prepare for unforeseen situations that may arise in the future. Here are some key inclusions of the report:
-Market size, share, segmentation, with prominent growth factors & opportunities.
-Geographical statistics of the Market.
-Covid-19 impact analysis of the market.
-Innovations, policies, regulations, product & service standards in the market.
-Key strategies adopted by the leading players in the Essential Oils Market.
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Latest Trends in the Global Essential Oil Industry
-Aromatherapy: Since essential oils promote physiological & psychological activities in the body, they are being used extensively in aromatherapy. Recently, aromatherapy has transformed from just a complementary therapy to a full-fledged mainstream therapy. Its rising popularity & demand attributes mainly to the drastic growth in the disposable income of people in the last few years. As a result, consumer preferences have shifted toward more sophisticated lifestyles, and spa centers & visits are rapidly increasing every year, which, in turn, is shooting up the sales of essential oils across these places.
-Functional Essential Oils: The world is witnessing an increasing consumer demand for functional fragrances in essential oils for their specific benefits like sleep-inducing, anxiety reduction, etc. The increased stress that people have experienced during the pandemic has been leading to the skyrocketing sales of functional essential oils that help people handle their moods & mental state better.
-CBD: The legalization of CBD & its derivatives in the US, i.e., being followed gradually worldwide, is set to enchant people looking for natural, holistic solutions to aches & ailments. CBD-based essential oils offer additional healing benefits through cognitive enhancement/moisturization or altogether both.
Segmentation Analysis:
This part of the study comprises a thorough analysis of the size & volume of the Essential Oils Market based on the segments & sub-segments cited below to help our readers identify the key aspects attributing to the industry’s growth across these segments and enrich their end-user positioning, targeting, & revenue.
Bifurcation, By Type
-Citrus
-Tea Tree
-Lavender
-Eucalyptus
-Rosemary
-Others (Chamomile, Peppermint, etc.)
Bifurcation, By Application
-Aromatherapy
-Food & Beverages
-Healthcare
-Personal Care & Cosmetics
Bifurcation, By Region
-North America
-South America
-Europe
-Middle East & Africa
-Asia-Pacific
See the Most Recent Market Research on Essential Oils Market- https://www.marknteladvisors.com/research-library/essential-oils-market.html
Competitive Landscape:
This section involves a competitive analysis of the key companies participating in the Essential Oils Market mentioned below, with insights like the company overview, financials, R&D investments, market share, key strategies adopted, strengths & weaknesses, product/service launch, etc. All insights mentioned in this section are gathered after thoroughly analyzing the leading companies operating in the industry, as well as the small & medium-sized enterprises that play crucial roles and have potential growth.
-Aura Cacia
-doTERRA
-DuPont
-Givaudan
-NOW Essential Oils
-Plant Therapy
-Rocky Mountain Oils, LLC
-Sydney Essential Oil Co.
-Others
Key Questions Addressed in the Market Report:
-What is the forecasted size, share, & CAGR of the Essential Oils Market in the forecast period?
-What are the key trends projected to affect the Essential Oils Market during 2022-2027?
-What is the estimated demand for different types of products/services in the Essential Oils Market?
-What would be impact of strategic developments on the Essential Oils Market in the mid to long-term?
-Who are the key stakeholders and players participating in the Essential Oils Market?
-What are the different segments & sub-segments considered in the Essential Oils Market research study?
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