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Essential Oils market 2031
Essential oils Market by Application, by Distribution Channel, by Type : Global Opportunity Analysis and industry Forecast, 2020-2030
PORTLAND, OR, UNITED STATES, August 1, 2022 /EINPresswire.com / -- An essential oil is a liquid that is generally distilled from the stems, leaves, seeds, roots, or flowers of the plant. The commonly used essential oil used are lavender, tea tree, orange, lemon, peppermint, cornmint, and others. These oils are antibacterial, antiviral, antifungal, and antimicrobial. They by-pass the digestive system easily and thus are beneficial for people with poor digestion/assimilation. Moreover, essential oils are highly oxygenating and are suitable for infants since they cannot swallow tablets and capsules.
The global essential oils market was valued at $10,886.50 million in 2020, and is projected to reach $24,735.11 million by 2030, growing at a CAGR of 8% from 2021 to 2030.
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Essential oils are prized for their therapeutic properties and in the recent times it has been found that they are very effective as a food preservatives. The application of essential oils as a food preservative is expected to open avenues for growth for essential oils as the demand for natural preservatives increases.
Essential oils are generally extracted by distillation process, often by using steam. Other processes used in the production of essential oils are expression, solvent extraction, absolute oil extraction, cold pressing, and resin tapping. Essential oils find usage in perfumes, cosmetics, soaps, and various other products, for flavoring food & drink, and for adding scents to incense and household cleaning products. Essential oils are distinguished from the fatty vegetable oils, such as canola and sunflower, by the fact that they evaporate or volatize in contact with the air and usually possess a strong aroma.
These products are complex mixtures of organic chemicals, the nature and relative proportions of which are determined by the genetics of the plant species, environmental factors (e.g. climate), agricultural factors (e.g. soil conditions, nutrition, time and conditions of harvesting and methods of post-harvest handling), and manner of extraction. The chemicals present in essential oils may be classified as follows:
• Hydrocarbons of the general formula (C5H6)n-terpenes
• Oxygenated derivatives of these hydrocarbons
• Aromatic compounds having a benzenoid structure
• Compounds containing sulfur or nitrogen
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The global report is studied on the basis of product, application and distribution channel. By product, the market is divided into essential oils are segmented into orange, eucalyptus, cornmint, peppermint, citronella, lemon, lime, clove, spearmint, and others. By application, the market is divided into food & beverages, medical, cleaning & home, spa & relaxation, and others. By distribution channel, the market is studied across direct distribution, MLM distribution and retail distribution.
The prominent players analyzed in this report include doTERRA International, Biolandes, Sydney Essential Oils Co. Pty Ltd., Young Living Essential Oils, Farotti SRL, The Lebermuth Company, Essential Oils of New Zealand, H.Reynaude & Fils, Moksha Lifestyle Products, and West India Species, Inc.
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Key Findings
By product, orange essential oil has the largest market share in the year 2020 and is further expected to grow with the highest CAGR during the forecast period.
By application, food & beverage is the most commonly consumed form of essential oils, however, the usage of essential oils in cleaning & home products will grow in the future.
By distribution channel, the most common method of purchase of essential oils is via direct distribution channels while retail distribution channels are gaining more popularity for essential oils purchase.
By region, North America region is the largest consumers of essential oils products, however Asia-Pacific is expected to grow at the highest CAGR during the forecast period.
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