Functional benefits of essential oils in various sectors driving its application
Chicago, Nov. 24, 2022 (GLOBE NEWSWIRE) — According to MarketsandMarkets™, the Global essential oils market The size is estimated at USD 8.8 billion in 2022 and is expected to reach USD 15.3 billion by 2027, registering a CAGR of 11.8% in terms of value.
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The food and beverage industry continues to incorporate essential oils into multiple products, in line with the rising trend of “clean labeling”.
Essential oils are identified for their health benefits, as they are natural ingredients that impart the essence of the source from which they come. The largest market segment for essential oils is a food and drink, as consumers are increasingly aware of the health benefits of essential oils. The food and beverage industries use essential oils primarily for their color, flavor, and fragrance in end products.
The most common essential oils from food and beverage manufacturers are orange oil, lemon oil, cardamom essential oil, peppermint oil, and lime oil. Lemon essential oil is widely used in the food and beverage industry as a flavoring agent, such as fruit juices, jams, and baked goods. With citrus essential oils labeled as safe for consumption by regulatory authorities, the food and beverage industry continues to incorporate these essential oils into multiple products, in line with the rising trend of “clean labeling”. “. Clean labels and positive nutrition are gaining traction with consumers, especially Millennials and Gen Z. Strict food standards and consumer awareness of health issues associated with artificial food additives promote the consumption of natural ingredients such as essential oils. Food and beverage brands are embracing the clean label trend in new product development, and so this trend is being strongly driven by supply-side initiatives.
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Essential oils represent a significant upstream business opportunity for the floriculture market
Floriculture has been associated with the cultivation of exotic and aromatic flowers producing aromatic essential oils, including rose, jasmine, lavender and tuberose. Flowers have long been known to be a source of sweet fragrance and provide one of the most important essential oils required for the production of perfumery. Essential oils therefore represent a significant upstream business opportunity for the floriculture market. The booming hospitality sector is another important avenue for the flower-based essential oil trade.
Flower essential oils, when incorporated into finished products, impart various benefits such as a pleasant aroma in perfumery, shine or conditioning effects in hair care products, and improved elasticity of the hair. skin. The supply of raw materials is a crucial step. For optimum production of essential oils, it is necessary to identify the ideal location to grow flowering plants based on suitable climatic and soil conditions with minimal use of pesticides and fertilizers to achieve good yield. It is also essential to carefully monitor the transit of raw materials from the field to the factory to preserve the freshness and potency of the active ingredients. Therefore, traceability and transparency in the supply chain are gaining importance. In addition, manufacturers are looking for a sustainable approach and as a result, increased emphasis is placed on sourcing.
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European Essential Oils Market Growth Attributed to Consumer Demand for Aromatherapy Cosmetics
European demand for essential oils is driven by the boom in the aromatherapy industry. European buyers prefer value-added food products and manufacturers prefer to use essential oils in this area due to their wide range of applications. Growing consumer demand for high quality and environmentally friendly products is expected to boost the European market. Apart from this, the region is one of the major importers of essential oils due to increased consumer demand for aromatherapy products by developing “aromatherapy cosmetics”. The European cosmetics and personal care market is one of the largest in the world and presents an attractive opportunity for suppliers and producers of essential oils in developing countries. Consumer demand for chemical-free cosmetic products is expected to fuel the market growth. Due to its regulatory environment, Europe remains an important market for companies producing essential oils. The main leading European companies in this market are Symrise (Germany), ROBERTET SA (France), MANE (France) and NHR Organic Oils (United Kingdom).
This report includes a study on marketing and development strategies, as well as product portfolios of leading companies. It consists of profiles of leading companies, such as Cargill, Incorporated (USA), DSM (Netherlands), Givaudan (Switzerland), International Flavors & Fragrances Inc. (USA), Sensient Technologies Corporation (United States United States), Symrise (Germany), Robertet SA (France), MANE (France), doTERRA (United States), NOW Foods (United States), Lebermuth, Inc. (United States), BIOLANDES (France), Norex Flavors Private Limited (India) and India Essential Oils (India).
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Study coverage
In terms of information, this research report focuses on different levels of analysis – competitive landscape, market share analysis, end-use analysis, pricing information, and company profiles – which together include and discuss basic views on the competitive landscape and emerging and high markets. – Essential Oils Market growth segments, high growth regions, industry trends, drivers, restraints, opportunities and challenges.
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