Clover Leaf Oil Market Forecast will Surpass US$ 528 Mn by 2022
Key Insights from the Report include:
Through 2022, the demand for clover leaf oil in its absolute form is expected to remain closely equal to the demand for concentrated form of clover leaf oil. Both forms are anticipated to procure more than one-third share on global revenues, individually. Meanwhile, blended clover leaf oil products will lose traction in terms of demand, reflecting a sluggish growth at lowest CAGR.
In 2017 and beyond, eight out of ten clover leaf oil products sold in the market will be sourced from natural clover plants. The demand for naturally sourced clover leaf oil will be high in Europe, while global demand for organically procured clover leaf oil will witness a considerable decline towards the end of the forecast period.
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Proactive lifestyles of consumers in European countries are pegged to influence the sales of clover leaf oil products. In Europe, the demand for clover leaf oil is expected to gain traction owing to prevalent inclination of consumers towards health-benefiting products. Consumers in this region are likely to be aware about the benefits of clover leaf oil in boosting energy, improving blood circulation and being a natural anti-inflammatory ointment. The report projects that through 2022, Europe will remain the largest market for clover leaf oil in the world.
North America, on the other hand, is expected to witness lowest growth in its clover leaf oil market. The sales of clover leaf oil in the US and Canada will reflect a sluggish growth by exhibiting a 2.5% CAGR throughout the forecast period. Low on-shelf availability of clover leaf oil products and a relatively less awareness regarding benefits of clover oil are expected to contribute to the moderate growth of North America’s clover leaf oil market during the forecast period.
On the basis of application, therapeutic use of clover leaf oil products will witness a significant upsurge. The report also predicts that use of clover leaf oil in aromatherapy, production of fragrances, and production of food products & beverages will also witness impressive growth in the years to come.
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Modern trade outlets are expected to contribute to more than two-fifth of global market value throughout the forecast period. These outlets will be observed as largest distribution channel in the global clover leaf oil market, while online sales of clover leaf oil products are expected to procure more than US$ 80 Mn revenue by the end of 2022.
Manufacturers of clover leaf oil products that are expected to remain active in the expansion of global clover leaf oil market through 2022 are also profiled in the report, which include companies such as Plant Therapy Essential Oils, Green Fields Oil Factory, Lionel Hitchen Essential Oils, Aromaaz International, IL Health & Beauty Natural Oils Co. Inc., Aksuvital, Shaanxi Guanjie Technology Co., Natures Natural India, Young Living Essential Oils LC, Greenleaf Extractions Pvt Ltd., Biolandes, The Lebermuth Company, doTerra, Synthite Industries Ltd., and Bio Extracts (Pvt) Ltd.
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