Essential Oil Market will Bag a Revenue Valuation of US$27.4 bn by 2022
Request to view Sample Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=31019
In a recent study, TMR has pegged the global essential oil market to reach US$27.4 bn by the end of 2022. Between 2017 and 2022, the market is forecast to exhibit a CAGR of 9.6%. As per the report, the global essential oil market was valued at US$17.36 bn in 2017. Among various products available in the market, the demand for citrus oil is expected to scale high. Regionally, Europe emerged dominant and is projected to exhibit a CAGR of 8.8% between 2017 and 2022.
Rising Use in Cosmetic and Skincare Products Boosts Growth Prospects
The demand for essential oil is forecast to rise at a steady pace through the course of the report’s forecast period. Consumer inclination towards natural product will bode well for the overall market. Leading producers are taking more interest in bio-based and natural products as consumers have become more conscientious about ingredients used in their skincare or beauty products, besides their food and beverages. This could be a result of the rising concerns with regards to pollution and hazards triggered by exposure to certain chemicals. Spurred by this, the global essential oil market is poised to surge at an impressive pace.
Read Report Overview @ https://www.transparencymarketresearch.com/essential-oil-market.html
In addition to this, the rising use in aromatherapy is a crucial factor fuelling the demand for essential oil around the world. TMR also expects the use of essential oil to rise for adding fragrances in novel beauty and skincare products. These factors are likely to set the tone for robust growth in the global essential oil market.
Lack of Awareness Could Restrain Growth Opportunities
Despite prevailing growth opportunities, the global essential oil market is slated to witness a few challenges, especially spurred due to their high prices. Furthermore, the as the market continues to reel under lack of awareness among consumers about key benefits of certain essential oil, growth pace will stay restricted.
Nonetheless, increasing knowledge about the use of essential oil in various natural therapies and home remedies could improve growth prospects for the market in the coming years. Furthermore, the rising use of essential oils in food and beverages and cosmetics industry is forecast to create lucrative growth prospects for the market in the forecast period. TMR predicts the demand for cosmetic and skincare products to rise significantly in the coming years. In addition, the demand for neutraceuticals is expected to scale higher, subsequently paving way for the growth of the global essential oil market.
Against this backdrop, the rise in disposable income will augur well for the global market. The rising use of essential oil in pharmaceuticals is also expected to create attractive opportunities for growth.
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
US Office Contact
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Essential Oil Market will Bag a Revenue Valuation of US$27.4 bn by 2022 here
News-ID: 1208208 • Views: 127
More Releases from Transparency Market Research - Food and Beverages
Dry Whey Market to Witness Comprehensive Growth by 2014-2020
Whey is a liquid substance that is obtained from the separation of the milk, skim milk or cream in cheese making process. Dry whey is obtained by the extraction of water from the whey. Dry whey contains all the constituents in the same relative proportions as in liquid whey except water. On the basis of reconstitution, dry whey is of two types of dry sweet whey and dry acid whey.
Spoonable Yogurt Market to Record an Exponential CAGR by 2014-2020
Spoonable yogurt is a processed dairy product produced by the bacterial fermentation of milk. Spoonable yogurt has a smooth and glossy texture. Spoonable yogurt is available in the semi-solid form and can be scooped up and consumed directly. Hence, it is called spoonable yogurt. Spoonable yogurt’s soft nature allows it to be eaten by consumers of all age-groups such as infants and elderly. Moreover, spoonable yogurt is a friendly nutritional
Creatine Monohydrate Market Industry Overview, Trends and Growth Opportunities F …
Creatine monohydrate is a naturally occurring nitrogenous compound and helps in the supply of energy to the cells of the body. Creatine monohydrate is present in the human body naturally; 95% in muscle tissues in the form of phosphocreatine and remaining 5% is present in the brain, liver, and kidney. The body produces the endogenous creatine monohydrate form the amino acids; glycine and arginine. Creatine monohydrate is widely used in
Ripening Enzyme Market 2019 Research Report Analysis, Size, Share, Growth, Trend …
In today’s world, consumers are looking for consistent and well-defined flavors, satisfying texture and an alluring appearance of the food products. Continuous competition between cheese manufacturers is making manufacturers regularly improve their process to get the finest possible yield which helps them to differentiate their cheeses with others. Manufacturers are using ripening enzymes also known as ripening cultures that have a unique property that simplify the production of different variety
More Releases for TMR
Global 3D Animation Market: Snapshot The evolution and introduction of three-dimensional (3D) animation has given the world of animation a new perspective. The process of creating 3D moving images in a digital space through objects or models has given these illusions depth. One of the most fundamental differences between 2D animation and 3D animation is the technique used for creating the images and the way they look. The global 3D animation
Various strategies are leveraged by success-hungry players in the global hyperbaric oxygen therapy devices market. One of them is the thrust on research and development to come up with new or better products. Their focus is on building cost-effective medical devices that would see greater uptake. Strategic partnerships are also being undertaken by them to diversify product portfolios and gain greater share. Further, companies are shifting their gaze to developing
Monolithic Ceramics Market Analysis : TMR
Transparency Market Research has published a new market report titled “Monolithic Ceramics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.” According to the report, the global monolithic ceramics market was valued at US$ 19.43 Bn in 2014 and is anticipated to reach US$ 36.64 Bn by 2023, expanding at a CAGR of 7.3% between 2015 and 2023. Request to view Sample Report: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3158 Monolithic ceramics are
TMR - 3D Printing Materials Market by 2020
The global 3D printing materials market will exhibit a CAGR of 18.0% between 2014 and 2020. The market was valued at US$450 mn in 2013 and is expected to reach US$1.4 bn by the end of 2020, according to a research report released by Transparency Market Research. The report titled “3D Printing Materials - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020” is available for sale
Wax Market Analysis : TMR
A recent research report published by Transparency Market Research projects the global wax market to expand at a CAGR of 2.6% during the period between 2014 and 2020. The report, titled “Wax Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020,” estimates the global wax market to be worth US$8.98 bn by 2020. The overall market stood at a valuation of US$8.21 bn in 2013
Sulfone Polymers Market Analysis : TMR
Global Sulfone Polymers Market: Snapshot Several grades/varieties of sulfone polymers have gained vast applicability across a number of industries in the past few years. The relatively higher level of resistance wear and corrosion provided by these materials as compared to metals have increased their usage in medical devices and implants. Owing to their high transparency resistance, low weight, and high performance, the demand for sulfone polymers is also rising in the