According to a new Industry report published by Credence Research “Essential Oils Industry – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2022,” the essential oils Industry is expected to reach over US$ 9.6 Bn by 2022, expanding at a CAGR of more than 8.8% from 2016 to 2022.
Essentials oils have been used worldwide by many cultures for centuries. The use of essential oils varied in between the cultures from healing the sick to religious purposes. The use of essential oil as healing agent to mankind was found in Lascaux, which is located in the Dordogne region in France. It is reported that the Egyptians used essentials oils since 4500 B.C.E. It was then known by humans regarding its beneficial properties as aromatic oils and as healing agents. Egyptians were the first to make use of essential oils for medicinal purposes more than beauty treatments. Since then, essential oils have been widely used worldwide as aromatic oil, flavoring agent or as medicine for healing.
Browse the Essential Oils Industry report at http://www.credenceresearch.com/report/essential-oils-Market
The global essential oils Industry based on products is segmented into orange, citronella, corn mint, eucalyptus, lemon, clove leaf and others. Among these, orange oil accounted as the largest product segment of essential oils Industry in 2015. Growing demand for orange oil in the food & beverage industry and pharmaceutical and cosmetic industry has led to the growth of essential oils Industry worldwide. The medicinal as well as aromatic properties of orange oil have attracted various end-user industries in the Industry. Hence, orange oil is expected to fuel high growth of essential oils Industry. Citronella, corn mint, eucalyptus, clove leaf and lemon among others are anticipated to experience high demand in the near future due to high demand from the pharmaceutical, cosmetic & personal care product and food & beverage industries in the Industry.
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Food & beverage dominated the global essential oils Industry in 2015 and is expected to retain its position in the near future. Growing demand for wide product range of essential oils in manufacture of confectionary and beverages has promoted growth of global essentials oils in the Industry. Spa and salon products accounted as the second largest Industry in 2015 and are expected to increase during the forecast period due to high demand for essential oils from the industries manufacturing spa products. Spa products consist of high amount of essential oils due to the medicinal properties and aroma of the essentials oil which is useful in healing pains and provide relaxation. Hence, spa and salon products are anticipated to fuel Industry growth of essential oils in the Industry. Cosmetic and personal care products followed spa and salon products and are expected to experience high demand in the near future. Other application such as pharmaceuticals, household cleaning products and others are also projected to boost growth of global essential oils Industry during the forecast period from 2016 to 2022.
High demand from the food & beverages industry
Growing demand from the spa and salon products industry
Growing consumer awareness for natural oils over synthetic oils in various applications
Opportunities from research & development activities to identify medicinal uses and its applications in wide range of end-user industries
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