Essential oils are the volatile aromatic oils extracted from flowers, seeds, stem, bark, leaves, roots, and other plant parts. They are also known as ethereal oils, volatile oils or aetherolea. They are called essential oils as they represent the flavor and aroma of the plant from which they are extracted. Essential oil contains many organic compounds such as terpenes, phenols, alcohols, aldehydes, ketones, lactones, coumarins, esters, and ethers. Essential oils are mainly used as aromatic and flavoring agents. They have therapeutic properties which depends on the plant from which it is extracted. For instance, citronella oil is antidepressant, antispasmodic, antiseptic, antibacterial, and anti-inflammatory, whereas lemon oil is antiviral, disinfectant, bactericidal, hemostatic, astringent, febrifuge, and antiseptic. The growing demand for natural products in food and beverages, cosmetics, personal care and healthcare industries, increasing popularity of aromatherapy, and the increasing consumer awareness for benefits of using essential oils and related herbal products are the major market drivers for essential oil industry. The low availability of raw materials is the major factor restraining the growth of essential oil market.
Essential Oil -Market Taxonomy
On the basis of extraction technique, the global essential oil market is segmented into
On the basis of product type, the global essential oil market is segmented into
On the basis of application, the global essential oil market is segmented into
Distillation is the most commonly used technique for essential oil extraction as it is the most inexpensive and easy method. Various types of distillation techniques such as steam distillation, water distillation, steam and water distillation, and fractional distillation are used for extraction of essential oil. Aromatherapy is the largest application of essential oil as they have potent antidepressant and soothing properties. The hectic fast paced lifestyle of the population due to urbanization and industrialization causes stress related disorders such as depression and anxiety. Thus, there is a growing demand for aromatherapy which in turn is propelling the essential oil market. Essential oils such as lavender oil, tree oil, eucalyptus oil, lemon oil, and peppermint oil are mainly used in aromatherapy.
Essential Oil -Market Outlook
Key Players in the Global Essential Oil Market
The players in essential oil market are adopting organic and inorganic approaches to retain their market positions. Some key players operating in the essential oil market include Biolandes, doTERRA International, Essential Oils of New Zealand, Farotti SRL, H.Reynaude & Fils, Moksha Lifestyle Products, Sydney Essential Oils Rocky Mountain Oils LLC, Co. Pty Ltd, The Lebermuth Company, West India Species, Inc., and Young Living Essential Oils.
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.[email protected]
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.