Press release
Herb Oil Market : Technological Growth Map Over Time To Understand the Industry Growth Rate
Alternative medicine and herbal products have become quite popular across the world as people are increasingly seeking out ‘natural and organic solutions’ for everything. The millennial generation in particular is responsible for the push towards the herb oil market.The main reasons for this are a growing awareness and a greater importance on health and wellness. Herb oils can be either purchased at stores or made in the comfort of one’s homes and have several benefits and use-cases. Herb oils are useful in food preparation, skin therapy, in cooking or even for topical application and can either be infused or essential. The herb oil market is anticipated to have a value of more than US$ 3.7 billion by the end of 2022.
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The basil segment has the largest revenue share in the herb oil market and is on track to gain substantial BPS over the study period. Basil is globally renowned for its numerous health benefits and has particular resonance in the APEJ region as the plant is considered holy by some eastern religions.
Thus, it is hardly surprising that APEJ alone contributes a third of the basil herb oil market in 2017 alone and companies are advised to actively market their basil herb oils to this highly populous and influential continent. Mint herb oil closely follows basil in the herb oil market but is projected to lose share going forward.
The mint herb oil segment is predicted to record a sluggish CAGR of approx. 3.5% during the period 2017 to 2022
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The companies profiled in the herb oil market report are Young Living Essential Oils LC, Symrise AG, Givaudan SA, International Flavors & Fragrances Inc., Biolandes SAS, DoTERRA International LLC, The Lebermuth Company, China Flavors and Fragrances Company Limited, Citrus and Allied Essences Ltd., and Enio Bonchev Production Ltd.
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FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.
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