Essential Oil Market - Size, Share, Trends, Outlook, and Opportunity Analysis, 2018-2026
Essential oils are the volatile aromatic oils plant extracts, originating from flowers, seeds, stem, bark, leaves, and roots. These oils as they represent the flavor and aroma of the plant from which they are extracted. Essential oils are also known as ethereal oils, volatile oils or aetherolea, and are extracted through several processes such as distillation. These oils are used as aromatic and flavoring agents, as they contain several organic compounds such as terpenes, phenols, alcohols, aldehydes, ketones, lactones, coumarins, esters, and ethers. Therapeutic properties of essential oils depend upon the plant it is extracted from. Request For Sample Copy of this Research Report : https://www.coherentmarketinsights.com/insight/request-sample/871 Owing to such therapeutic and aromatic properties, the demand for essential oils is increasing. Increasing demand for natural products, in turn, is increasing the demand for essential oils in the food and beverages, cosmetics, personal care, and healthcare industries. Growing popularity of aromatherapy as well as increasing consumer awareness regarding the benefits of essential oils and related herbal products are major factors driving growth of the market for essential oils. However, low availability of raw materials is the major factor restraining growth of the essential oil market. The market in Asia Pacific is projected to witness significant growth, owing to increasing demand for natural oil-based products and growing disposable income among the populace. The growing in the food and beverages, and healthcare industries in China and India, as well as increasing inclination towards aromatherapy are fueling growth of the essential oil market in the region. According to India Brand Equity Foundation (IBEF)—trust established by the Department of Commerce, Ministry of Commerce and Industry—the fast moving consumer goods (FMCG) sector in India is expected to reach US$ 103.7 billion by 2020. FMCG sector in India consists of 19% food and beverages, 31% healthcare, and 50% household and personal care products. These sectors are major consumers of essential oils. Thus, the demand for essential oil is expected to increase in India, in turn, propelling growth of the essential oil market in Asia Pacific.