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Cananga Odorata Flower oil Market Growth to be Fuelled by 2024
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The personal care segment is expected to grow at a rapid pace in the Cananga Odorata (Ylang Ylang) flower oil market owing to the rising demand of aromatic flavors as well as fragrances in personal care products such as perfumes and cosmetic products. Additionally, the increased demand of spa and relaxation applications due to the change in life-style is anticipated to fuel the market growth in upcoming years.
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On the basis of geography, Cananga Odorata (Ylang Ylang) flower oil market is segmented into five different regions namely North America, Latin America, Europe, Asia-Pacific and Middle East and Africa. The market size of Cananga Odorata (Ylang Ylang) flower oil is expected to be prominent in the European region owing to the rising awareness and increasing demand of cosmetics and beauty products, medicines, and nutraceuticals.
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Europe was followed by North America to emerge as the second major region in the Cananga Odorata (Ylang Ylang) Flower oil market. Factors such as highly developed industries, increasing per capita income, subsidies and tax benefits from the government, contribute vitally to growth of the market in the North America region. Asia Pacific region is projected to be the fastest growing market owing to the change in life style and increased awareness about health benefits of the products derived from natural sources.
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