Tea Tree Oil Market Size is Expected to Reach USD $11.19 Billion by 2025 | North America and Europe are the Dominant Regions
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Surge in demand for natural cosmetic products and rise in demand from the pharmaceutical industry drive the growth of the global tea tree oil market. North America contributed the highest share in 2017, and will maintain its dominance throughout the forecast period. The demand for tea tree oils has been increased in the months of corona virus pandemic due to its application in the manufacturing of hand sanitizers.
Tea tree oil endures higher rate of demand from the cosmetic industry due to its large-scale application in the production of shampoos, conditioners, skin clearing lotion, mouthwash, body lotions, shower gels, cleansing soap, deodorants, hand wash sanitizers, and face creams. The tea tree oil is expected to gain higher traction from the pharmaceutical industry due to its anti-inflammatory, antifungal, and antiviral properties. Moreover, in the recent past, there has been rise in preference for natural products among the consumers specifically when it comes to cosmetic and skin care products. This is due to the increase in awareness about the various health benefits associated with the usage of natural or clean label products. Thus, the rise in preference for natural products is expected to provide lucrative global tea tree oil market opportunity during the forecast period.
The global tea tree oil market is segmented into application, end user, grade, and region. Based on end user, the cosmetic companies segment contributed to the largest share in 2017, accounting for more than half of the total share, and is estimated to maintain its dominant position during the forecast period. However, the pharmaceutical companies segment is expected to register the highest CAGR of 6.6% from 2018 to 2025.
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Based on grade, the pharma/cosmetic grade segment accounted for the largest share in 2017, holding nearly two-thirds of the total share, and is expected to maintain the largest share throughout the forecast period. However, the therapeutic grade segment is estimated to portray the highest CAGR of 6.3% during the forecast period.
The market across the North America region held the largest share in 2017, contributing around two-fifths of the total market, owing to high consumption rate of natural cosmetic and large group of consumers in the region. However, the market across LAMEA is expected to manifest the fastest CAGR of 6.8% during the forecast period, owing to high rate of demand for natural essential oil in both household and commercial sectors. The report also offers an in-depth study of the market across Europe and Asia-Pacific.
The global tea tree oil market report provides analysis of the major market players such as G.R. Davis, Main Camp, Cassegrain Kalara, Maria River Plantation, Coromandel Mountains, Jenbrook, LvHuan Technology, Oribi Oils, Fuyang Biotechnology, and Integria Healthcare.
Key Findings of the Tea Tree Oil Market:
○ In 2017, based on application, the cosmetic & toiletries application segment accounted for around 78.4% of the tea tree oil market share, growing at a CAGR of 5.2% from 2018 to 2025.
○ In 2017, based on end user, the retail store segment accounted for 53.1% share of the market and is expected to growth at the highest CAGR of 5.0% during the forecast period.
○ In 2017, based on region, North America accounted for a prominent market share and is anticipated to grow at a CAGR of 4.0% throughout the tea tree oil market forecast.
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