Herb Oil Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Herb Oil Market grew at a CAGR of 5.4% between 2017-2021 and is estimated to be US$ 1879.3 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 5.7% and is expected to reach a valuation of US$ 3,271.5 Mn by 2032 end.
Herb oil have been used for thousands of years in various applications, including cooking, medicine, and cosmetics, currently, consumers are rediscovering herbs as they focus on leading healthier and more natural lives. Herb oils are a rich source of antioxidants, vitamins, minerals, and special medicinal characteristics, giving food flavor and texture. The market for herbal oils is increased due to changing lifestyles and growing health concerns.
One major force driving the market for herbal oils is the millennial generation. Due to the increased number of artificial items on the market, they demand natural products. Herb oils have several advantages and applications and can be prepared at home or purchased in stores.
ChemView Consulting has analyzed that due to changing consumer lifestyles, various variables increased knowledge of the advantages of natural products, consumer attention to their health and wellness, and millennial trends; today’s consumers are very knowledgeable and carefully weigh all of their available options before making a purchase. Consumer purchasing is mostly driven by the ingredients used in products, the technology used, and the manufacturing process.
Natural preservatives are more expensive and are used less frequently than artificial preservatives, such as sodium benzoate, nitrate, and propionate. On the other hand, manufacturers are now searching for natural preservatives, like herb oils, to keep manufactured foods fresh. This can be due to customers’ growing desire for natural products.
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Segments Covered in Report
By Product Type:
- Basil
- Mint
- Thyme
- Dill
- Other Herbs
By Application:
- Personal Care and Cosmetic
- Food & Beverage
- Pharmaceutical
- Aromatherapy
- Industrial
- Other Application
By Extraction:
- Distillation
- Solvent Extraction
- Cold Pressing
- Other Extraction Method
By Sales Channel:
- Specialty Store
- Modern Trade
- Drug Stores
- Online Store
- Other Sales Channel
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 Herb Oil Market
- Based on the application, natural preservatives are more expensive and are used less frequently than artificial preservatives, such as sodium benzoate, nitrate, and propionate. On the other hand, manufacturers are now searching for natural preservatives, like herb oils, to keep manufactured foods fresh. This can be due to customers’ growing desire for natural products.
- Based on the extraction, the distillation segment is expected to expand the fastest during the forecast period.
- Based on the region, due to rising disposable income and changing lifestyles, the European market is anticipated to grow at the fastest rate and with the greatest CAGR, with a market share of 34.6%.
Competition Summary
Key companies covered in the market study are Symrise AG, Young Living Essential Oils LC, Givaudan SA, Biolandes SAS, International Flavors & Fragrances Inc., Enio Bonchev Production Ltd., DoTERRA International LLC, China Flavors, and Fragrances Company Limited, The Lebermuth Company, Citrus, and Allied Essences 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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