Essential oils, also called volatile odoriferous oil, are aromatic oily liquids extracted from different parts of plants, for example, leaves, peels, barks, flowers, buds, seeds, and so on. They can be extracted from plant materials by several methods, steam distillation, expression, and so on. Among all methods, for example, steam distillation method has been widely used, especially for commercial scale production. Essential oils have been widely used as food flavors.Essential oils have been known to possess antioxidant and antimicrobial activities, thereby serving as natural additives in foods and food products.
It can be used as active compounds in packaging materials, in which the properties of those materials, particularly water vapor barrier property associated with hydrophobicity in nature of essential oils, can be improved.The Rajnigandha, Polianthestuberose, is a tuberous perennial plant with a waxy, luminous white flower in the family Agavaceae. Its flower odor is very sweet, floral and honey-like and can help give emotional strength and center the mind.Rajnigandha flowers have long been used in perfumery as a source of essential oils and aroma compounds.
These aromatics are synthesized in various plant organelles and as plant protection against herbivores and infection, as well as to attract pollinators.In the world wide flavor and fragrance market, essential oils constituteabout 17 per cent. The estimate of world production of essential oils varies from 40,000 to 60,000 tonsper annum.
The global essential oil market size was valued at USD 3.36 billion in 2015 and is expected to witness an estimated growth rate of 9.0% from 2016 to 2024. Around 200 different types of essential oils are consumed all over the world annually, and the U.S. plays a major role in overall demand. Essential oils, also known as volatile oils/aetherolea/ethereal oils, are derived from leaves, stems, flowers, bark, roots, or other parts of a plant. Essential oil is obtained from various herbs and plants, such as orange, eucalyptus, corn mint, peppermint, citronella, lemon, lime clover leaf, spearmint, jasmine and tuberose using distillation methods such as steam and water distillation. The essential oil market is segmented on the basis of product type, application, and geography.
The product segment is further classified as orange, eucalyptus, corn mint, peppermint, citronella, tuberose, lemon, clover leaf, jasmine, and others. Orange oil segment accounted for the maximum revenue share in 2015 and is likely to consolidate its position during the forecast period, owing to its anti-inflammatory, antidepressant, and antispasmodic product characteristics.
The major factor boosting the market growth is the increasing consumer preference for natural and organic products be it food or similar other product categories.As a whole it is a good project for new entrepreneurs to invest.
Few Indian Major Players are as under
· Coty India
· Lakme Lever
· Helene Curtis
· Hindustan Unilever