Essential Oil and Oleoresins Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Essential Oil and Oleoresins Market grew at a CAGR of 5.1% between 2017-2021 and is estimated to be US$ 14,598.2Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 5.8% and is expected to reach a valuation of US$ 25,654.1Mn by 2032 end.
Raw materials for essential oils are found in botanical sources. They are widely utilized in the flavor and scent sectors. Various goods primarily used as scents and flavors are included in essential oils and oleoresins. Crucial oils are used as medicines and food supplements to promote good health. In addition, the chemicals sector also uses essential oils as feedstock.
ChemView Consulting has analyzed that solvent extraction extracts essential oils from botanical sources. They are used in the food and beverage industries because of their distinctive scent. Additionally, they are employed in producing cosmetics and natural perfumes in the fragrance and taste business. These features are expected to cause the market for essential oils and oleoresins to develop significantly during the next years.
Due to the widespread use of oleoresins, which add a natural flavor and smell to confections and beverages, the food & beverage segment is predicted to lead the market among the various applications of plant extracts. The advantages of using products infused with natural substances, such as oleoresins, are becoming better known to consumers.
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Segments Covered in Report
By Type:
- Black Pepper
- Cardamom
- Capsicum
- Turmeric
- Cinnamon
- Others
By Application:
- Food and Beverages
- Confectionery
- Pharmaceutical
- Cosmetics and Personal Care
- Others
By Distribution Channel:
- Direct Sales
- Indirect Sales
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Essential Oil and Oleoresins Market
- Based on the application, due to the widespread use of oleoresins, which add a natural flavor and smell to confections and beverages, the food & beverage segment is predicted to lead the market among the various applications of plant extracts. The advantages of using products infused with natural substances, such as oleoresins, are becoming better known to consumers.
- Based on the region, with a market share of 57.0%, the Asia Pacific region is expected to develop at a substantial rate in the essential oil and oleoresin market over the forecast period. The expansion of related businesses, including pharmaceuticals, food, and drinks, is blamed for the market expansion in the area.
Competition Summary
Key companies covered in the market study are doTERRA International LLC, Mountain Rose Herbs, Inc., Synthite Industries Ltd., Clarion Casein Ltd., Universal Oleoresins Private Limited, Young Living Essential Oils LC, Natures S.A, Alchem International Ltd., Indena S.p.A, Kancor Ingredients Ltd.
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impact market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have collaborated with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.
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