Herb Oil Market - Trends and Opportunities for the Industry by 2022

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.

Get an exclusive sample of this report @
https://www.futuremarketinsights.com/reports/sample/rep-gb-5069

Basil Herb Oil Sought After in the Herb Oil Market

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 and key stakeholders may require customized strategies to attain success in the mint herb oil market.

Obtain Report Details @
https://www.futuremarketinsights.com/reports/herb-oil-market

Niche Opportunity in Dill Herb Oil Market

The Dill herb oil segment has a single digit revenue share in the herb oil market and is unlikely to become a major force anytime soon. Nonetheless, the Dill herb oil segment is estimated to be worth almost US$ 350 million by end 2022, making it crucial for stakeholders in the herb oil market to be present in this segment. The other herbs segment is even smaller than the Dill herb segment and companies could seek to target either North America or Europe in the other herbs segment as the maximum demand is in these two developed regions of the global herb oil market.

Specialty Stores Hold the Key in the Herb Oil Market

Specialty stores account for a revenue share approaching two-fifth of the herb oil market and are easily the dominant sales channel. Specialty stores are extremely popular in the APEJ region as the region should push past a value of US$ 430 million by end 2022. The modern trade segment on the other hand is strong in Europe as well as the Europe modern trade segment is almost equal to APEJ in terms of overall size.

About FMI

Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.

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

Contact FMI

3rd Floor, 207 Regent Street,
London W1B 3HH
United Kingdom

T: + 44 (0) 20 7692 8790
D: +44 (0) 20 3287 4268
Email:sales@futuremarketinsights.com
Website:www.futuremarketinsights.com

This release was published on openPR.