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As per Zion Market Research, the demand for global essential oils market in 2019 was 230 kilotons. It is expected to grow at an 8.9% CAGR by the end of 2026. Solid development of end-use sectors such as personal care & cosmetics, food & beverage, and aromatherapy is responsible for the development of the global market.
Major players comprised in the development and expansion of the global market comprise Young Living Essential Oils; DoTerra; The Lebermuth Company; Essential Oils of New Zealand; India Essential Oils; NOW Foods; Ungerer and Company, Inc.; Flavex Naturextrakte GmbH; and West India Spices Inc.
Increasing Preference Of Users Towards Organic And Natural Goods To Power The Development Of Global Essential Oils Market
Various overall health advantages provided by these oils are expected to power their requirement in medical and pharmaceutical applications. Unlike most of the conventional drugs and medicines, they have no major negative effects. Increasing preference of users towards organic and natural goods is also causing elevated employment of essential oils in food & beverages and cosmetics sectors. Increasing awareness related to health advantages of naturally sourced oils together with rising number of users showing preference towards aromatherapy is predicted to offer a boost to the development of global market. Aromatherapy is attaining reputation, particularly amongst urban population, owing to rising media influence and altering lifestyles.
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Asia Pacific Predicted To See The Uppermost Growth In The Years To Come In The Global Essential Oils Market
Asia Pacific added up for more than 11% in terms of capitalization in 2019. It is predicted to see the uppermost growth in the years to come. The development in this area can be majorly credited to attendance of huge population together with different untapped markets, which are predicted to draw attention of major players to extend and establish their distribution and operational hubs in this area.
Browse the full “Essential Oils Market – By Sales Channel (Direct Selling and Others), By Application (Medical, Cleaning & Home, Spa & Relaxation, and Food & Beverages), By Product (Cardamom, Lemon, Clove, Lime, Garlic, Turmeric, Eucalyptus, Neem, Cinnamon, Basil, Juniper, Pepper mint, Cumin, and Ginger), and By Region- Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026.” Report at https://www.zionmarketresearch.com/report/essential-oils-market
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