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Cognac Oil Market Estimated to Rise Profitably during the Foreseeable Future 2017 - 2025
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Expanding demand for essential oils in aromatherapy and various natural remedies, consumers are inclining towards organic and natural products, increasing standard to living, expanding disposable income, and escalating use of cognac oil in various applications are some of the primary factors driving the growth of the global cognac oil market. Moreover, with the increase in the environmental concern, consumers are getting aware about knowing the ingredients in personal care products coupled with manufacturers are also replacing artificial flavors and colors with natural ingredients in the products are another essential factors growing the cognac oil market over the forecast period. However, availability of synthetic substitutes, the high price of oil, and limited availability of raw material may limit the growth of the cognac oil market during the forecast the period.
The cognac oil market has been classified by application and distribution channel.
Based on the application, the cognac oil market is segmented into the following:
Food and Beverages
Cosmetics & Personal Care
Toiletries
Healthcare
Others
Based on the distribution channel, the cognac oil market is segmented into the following:
Hypermarkets/Supermarkets
Convenience Stores
Food & Drink Specialty Stores
Online Retail
Others
Cognac oil market revenue is expected to grow at a rapid growth rate, over the forecast period. The market is projected to perform well in the near future owing to its unique features such as potent antioxidant, and anti-microbial properties. Additionally, moderate consumption of alcoholic beverages may have some health benefits such as increase antioxidant level and helps in limit the risk for blood clots are some of the factors that can propel the market revenue growth of cognac oil in the near future. Based on application, cosmetics & personal care segment is projected to lead the global cognac oil market over the forecast period attributed to use of cognac oil in perfumery owing to its tenacious yeasty notes. The cognac oil is used in a small volume owing to its uniqueness as well as highly potent odor.
Depending on the geographic region, the Cognac Oil market is classified into seven key regions: North America, Eastern Europe, Latin America, Western Europe, Japan, Asia-Pacific, and the Middle East & Africa. Europe is expected to be the leading markets in the global cognac oil market followed by North America owing to high demand for natural nutraceuticals, established research and development centers, and presence of prominent players in the regions. Japan cognac oil market is expected to account healthy CAGR during the forecast period owing to expanding winemaking industry, increasing demand for aromatic cleaning agents. Moreover, the market in Asia-Pacific is projected to have the fastest growth in the global cognac oil market over the forecast period due to increase in popularity of natural essential oil ingredients. MEA is expected to witness the significant growth rate in the global cognac oil market due to rise in purchasing power in the region is escalating the demand for cognac oil in various applications such as healthcare, and food & beverages.
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Cognac Oil Market: Key Players
Some of the prominent players in the cognac oil market are The Lermond Company, Indukern F&F, Edens Garden, Sigma-Aldrich, Lotus Garden Botanicals, Robertet Group, Albert Vieille SAS, Miracle Botanicals, Ernesto Ventós, S.A., WILD Flavors, Inc., and others.
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