ESSENTIAL OILS INDUSTRY:

Essential oils are non-water soluble hydrophobic liquids that contain volatile fragrance components from plants. The market for essential oils is mostly driven by the strong trend of “green” consumption, as well as the growing appeal of natural ingredients for food preservation and sensory aspects. Essential oils have become a critical ingredient of choice for food processors as the global food and beverage industry undergoes a gradual but major transformation in terms of ingredient compositions, owing to the growing customer preference for natural and organic products. Consumer awareness of the harmful health impacts of synthetic chemicals used in taste applications has gradually grown. Manufacturers are thus motivated to use natural inputs like essential oils to improve the aesthetic appeal of food products while also boosting the nutritional and functional aspects, which would help the essential oils market grow dramatically.

PHYTOCHEMICALS INDUSTRY:

The market for phytochemicals is expected to expand at a rate of 4.7 percent. Phytochemicals are organic plant-derived compounds that are employed in the production of organic foods and supplements. The nutraceutical business is seeing a surge in demand for phytochemicals and plant-based products as organic agriculture grows. Plant extracts and ingredients are regarded to be more useful than other chemical-based treatments for healthy people, thus they are consumed to avoid various ailments. The rising prevalence of diseases such as diabetes, hypertension, cancer, and obesity among people all over the world is driving the demand for phytochemicals and plant extracts. Furthermore, the nutraceutical industry’s growing demand for organic food items and components is likely to have a significant impact on the phytochemicals and plant extracts market. Additionally, rising demand for phytochemicals and plant extracts in functional food, functional beverages, and nutritional supplements is expected to have a substantial impact on the phytochemicals and plant extracts market. Emerging demand for animal products such as dairy and meat is expected to provide market participants with hitherto untapped opportunities.

INDIA ESSENTIAL OIL MARKET:

The overall production of essential oils in the globe is believed to be between 900,000 and 10,000 tonnes, with India accounting for 16-17 percent of that amount. Thanks to the mint revolution in North India, India is ranked No. 2 in terms of value, with a share of 21-22 percent. Many essential oils have become self-sufficient in India, with isolates and imports limited to a few exotic oils such as geranium, patchouli, clarysage, lavendin, as well as clove, cinnamon, and other spices. India’s current essential oil and value-added products exports, including menthol, have surpassed US$ 230 million. Natural essential oils are becoming more popular, despite the fact that demand for exotic essential oils for use in natural cosmetics, aromatherapy, and pharmaceuticals combined with natural flavours is currently around 6500-7000 tonnes and is expected to climb significantly in the future. India’s unusual oil production is well behind schedule.

GLOBAL MARKET OUTLOOK:

The global essential oils market is predicted to develop at a 9.3% compound annual growth rate (CAGR). Some of the factors driving the market’s growth include an increase in knowledge of preventative healthcare, improvements in the level of life, and the rise in double-income homes, as well as an increase in demand for aromatherapy. Increased demand from major end-use sectors such as food and beverage, personal care and cosmetics, and aromatherapy is likely to drive the market. Essential oils are expected to grow in popularity in pharmaceutical and medical applications due to a variety of health benefits. Essential oils, unlike most conventional medications and drugs, have little negative effects. Essential oil properties like these are expected to be a major contributor in market growth. Furthermore, the increased prevalence of health issues such as cardiovascular disease, Alzheimer’s disease, and bronchitis is driving up demand for therapeutic essential oils used in aromatherapy. The use of essential oils in various applications such as taste & fragrance, aromatherapies, and others has contributed to the growth of the essential oils market. Furthermore, the therapeutic properties of essential oils are projected to play a key role in determining peak sales, paving the path for the essential oils market to expand. The global market is also driven by the widespread usage of essential oils in industrial, commercial, and domestic applications. The demand for essential oils as natural preservatives is predicted to grow, providing chances for the essential oils market to expand.

TOP PLAYERS WORLDWIDE:

• Biolandes SAS
• DoTerra
• Essential Oils of New Zealand
• Falcon
• Farotti S. R. L.
• Flavex Naturextrakte GmbH
• Food Base Kft
• Reynaud & Fils (HRF)
• Herbal Family
• India Essential Oils
• KATO Flavors & Fragrances (KFF)
• Moksha Lifestyle Products
• Robertet
• Rocky Mountain Essential Oils
• The Lebermuth Company
• Ungerer Limited
• West India Spices Inc.
• Young Living Essential Oils