Oakmoss Extract Market Potential Share, Demand and Covid-Analysis Of Key Players- Research Forecast To 2032

Oakmoss Extract Market: Overview

The global oakmoss extract market is valued at US$ 36.3 Mn and is predicted to grow to US$ 63.4 Mn by the end of 2032

The consumption of oakmoss extract in the U.S. is projected to be 186 MT by the end of 2022 which accounts for a share of approximately 83.6% in the North American market for oakmoss extract. Furthermore, the market is predicted to rise at a volume CAGR of approximately 6.2% during the forecast period.

Oakmoss extract's main application is in the cosmetic & personal care industry, which is valued at US$ 22.7 Mn in 2022 and is predicted to expand at a value CAGR of approximately 5.0% during the forecast period.

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Oakmoss Extract Market Outlook 2032

The global oakmoss extract market is estimated to value US$ 36.3 Mn in 2022

It is predicted to grow at a CAGR of 5.7% from 2022 to 2032

The global oakmoss extract market is expected to reach the value of US$ 63.4 Mn by the end of 2032

Oakmoss Extract: Market Frontrunners

Oakmoss extract in liquid form find its applications in numerous industries including the cosmetics & personal care industry, processed food & beverage industry, and aromatherapy. The cosmetics & personal care industry is considered the biggest market for oakmoss extract owing to its rising use as a fixing base in the perfumery industry.

The global oakmoss extract market is expected to produce approximately US$ 63.4 Mn in 2032, up from US$ 36.3 Mn in 2022, owing to rising awareness about the benefits of aromatherapy and due to changing interests in the natural care and back-to-nature products - this trend will provide momentum to the development of organic or natural ingredients with healing abilities.

Oakmoss is a moss, which means it thrives in a symbiotic relationship with fungi. They resemble plants but are not true plants. An absolute is produced by solvent extraction of lichen that has been soaked in water for a long time. Oakmoss extracts are used in a wide range of products including cosmetics, and the food & beverage industry.

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Oakmoss Extract: Market Trends

Rise in demand for aromatherapy

Aromatherapy is a naturopathic remedies technique that boosts well-being and health by using natural plant extracts. Essential oils are widely utilized in aromatherapy as they benefit both psychological and physiological activities in the body at the same time. Moreover, the increase in demand for aromatherapy can be attributed to several variables, the most significant of which being the general increase in income over the last decade. Aromatherapy was formerly considered a complementary therapy, but it is now considered a mainstream treatment.

Oakmoss extract utilized in aromatherapy has several health benefits, including cold, stress, headache, cough, and anxiety, among others. Due to its functional characteristics, aromatherapy is administered in three ways to heal patients oral, transdermal, and inhalation.

Volatile Prices of Raw Materials for Oakmoss Extract Hampers Market Growth

Inconsistencies in vendor manufacturing capacity have resulted from the excessive volatility in the prices of critical raw materials. It's challenging to establish a global baseline that provides a consistent revenue stream due to price variations. As a result, profit margins fluctuate, making it impossible to identify a consistent growth path.

Although this oakmoss oil is good for fragrance, it is frequently contaminated by tree moss during the time of harvesting. In certain individuals, it might irritate delicate skin and cause hypersensitivity reactions. Dermal application to damaged skin, hypersensitive, sick, or damaged skin, along with infants under the age of two, is not recommended.

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Oakmoss Extract Market: Strategies

Oakmoss extract manufacturers are concentrating on raising product awareness and developing their business on a global scale to meet rising consumer demand by providing better products and services.

In March 2022, Firmenich established its new regional state-of-the-creation and development center at Dubai's Science Park. The company's research and innovation skills are further expanded through cutting-edge technology at the new Creation & Development Center, which will serve consumers in more than 60 countries across the Middle East and Africa area. The 3,500-square-meter space houses a cutting-edge research and science facility.

In February 2021, Givaudan (France) successfully acquired Myriss. This acquisition will help Givaudan's long-term Beauty & Fragrance strategy to experience in Artificial Intelligence which would assist in proposing new organoleptic approaches to its customers.

Oakmoss Extract Market: Key Players

Some of the key players in the market are Scent Fill, BMV Fragrances Private Limited, Sweet Essentials, Eden Botanicals, BERJE INC., Bristol Botanicals, Veda Oils, Midwest Sea Salt Co., Mountain Rose Herbs, Divine Essence, Givaduan, Firmenich, Biolandes, Sigma-Aldrich, Plantlife, Inc., and Ventos, among others.

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