See Infographics Bioplastics are those plastic materials that are manufactured by using natural resources. There are two categories of these plastics available in the market — biodegrable bioplastics and non-biodegradable bioplastics.
These scents provide stimulation in aromatherapy, massages, and other relaxation techniques. Numerous overall health benefits associated with essential oils are anticipated to drive the product demand in medical and pharmaceutical applications as well.
The product also has no detrimental side effects unlike most conventional drugs and medicines, which is a major driving factor for the market. Increasing demand for natural personal care products and pleasant aromatic cleaning agents is expected to foster growth in other applications.
Rising demand for flavors, odorants, and pharmaceutical ingredients is another major factor driving product growth in diverse end-use industries. High urbanization and industrialization rates in China, India, Brazil, and Mexico have influenced the end-use industries in the region, with increasing demand for flavors and aromatics.
Growing consumer disposable income and awareness regarding health benefits associated with these oils are projected to foster the growth of the global industry. The industry is also expected to benefit from numerous government tax benefits, incentives, and other compensations offered by the private companies to promote and market such products.
Product Insights The orange oil was the most significant and fastest product segment with a demand of Mounting consumption of orange oil by geriatric population has fostered the development of therapeutic applications. Corn mint oil segment was the second largest and fastest product segment in High menthol levels in the product have fostered its growth in cleaning agents and household products manufacturing sector.
Corn mint oil has antioxidant and antibacterial properties and is increasingly being utilized in medical applications to treat rheumatic pain, neuralgia, indigestion, laryngitis, and toothache. The increasing application in medicinal purposes to treat flatulence, stimulate appetite, sooth cough, gallbladder problems, and other chronic ailments is expected to foster the global market development over the forecast period.
The demand for other products such as basil, asafetida, jasmine, rose, cardamom, chamomile, grapefruit, lavender, mustard, and others are steadily increasing across the globe.
Growing consumer awareness regarding numerous health and sanitation benefits is expected to boost market growth. Rising consumer income across developing nations coupled with high demand for premium cuisine is expected to contribute to the segment growth.
Rising demand for attractive color and taste in local dishes is further fueling to market growth. Essential oils are beneficial for blood circulation stimulation and have excellent soothing effects on the central nervous system. Various health benefits have also fostered product application in massage and aromatherapy sectors.
The industry is probable to progress further with pioneering niche applications along with increasing demand from developing countries such as Brazil, India, and China. Other applications include, but are not limited, to insect repelling, pet care, room freshening, odor repelling, sports equipment disinfection, and personal care.
Rapidly growing personal care industry and rising demand for natural essential oil-based products are projected to boost market development over the forecast period. Other applications may also comprise bathing, compresses, Jacuzzis, steam inhalations, floral waters, and vaporization or diffusion in public places and individual residences.
Regional Insights Asia Pacific is expected to be the fastest growing regional market which accounted for The region is expected to reach Increasing production of essential oils along with growing demand from various crucial user industries are probable to increase the demand for different types of essential oil products across the globe.
Innovative extraction techniques along with technological advancement in the production process are likely to surge the preference for products. North America accounted for approximately The region is expected to witness a high growth owing to increasing medical applications with growing consumer interest and awareness regarding health benefits associated with essential oils and natural ingredients.
High geriatric population coupled with rising prevalence of diseases and epidemics has fostered regional development across the medical and pharmaceutical sectors.
Increasing demand for natural ingredients in cosmetics and beauty products is also likely to boost demand in the U. High level of integration both in distribution and raw material is likely to be witnessed.
Technological advancement and colossal price competitiveness is a significant trend followed in the global market. Some of the companies engaged in the development and expansion of this industry include H.
High entry barriers owing to advancement in technology and cost of capital are likely to maintain low competition among industrial participants. The industry is also characterized by balanced production capacities and different market size which is projected to lower internal and higher profit margins rivalry among existing players.
For the purpose of this report, Grand View Research has segmented the global essential oils market report on the basis of product, application, and region:Pavel Naiya is a Senior Analyst with Counterpoint Technology Market Research, based out of Gurgaon (near New Delhi).
Pavel has seven years of work experience with key focus on the evolving mobile device and technology ecosystem. The individual and family services market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. Aromatherapy Market to record a healthy % value CAGR and reach US$ 8, million valuation between the period of forecast and Market research analysts need at least a bachelor’s degree in market research, or in a related field such as statistics or computer science.
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