As per a new report by Persistence Market Research, the global essential oils market is set to experience an impressive value growth of around 8% CAGR over the next ten years.
Use of essential oils is increasing in the cosmetics & personal care industry, owing to rising inclination of consumers toward plant-based ingredients and natural products. Eastern culture has a huge influence on the beauty and fashion sector. Essential oils are used in a wide range of cosmetic products due to their outstanding properties to fight ageing, which results in clearer and smoother skin. Owing to their anti-oxidant activity, sales of essential oils are gaining immense traction for use in the cosmetics market.
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“Aromatherapy practices are gaining immense traction owing to increasing demand for replacement of pharmaceutical drugs and therapeutic techniques for mental and physical well-being. Thus, manufacturers could gain increased profits by targeting aromatherapy manufacturers” says a Persistence Market Research analyst.
Many key essential oil manufacturers have adopted multi-level marketing techniques to reach out to more customers and expand their business. Increasing awareness regarding the health benefits of essential oils have resulted in the growth of retail sales, especially through convenience stores.
Key players are also offering products directly to customers via online sales channels in addition to traditional over-the-counter sales. This has made it easy for customers to access products. Manufacturers have also made a provision for wholesalers to order products in bulk through their websites.
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Persistence Market Research, in its new report, offers an impartial analysis of the global essential oils market, presenting historical data (2015-2019) and estimation statistics for the forecast period of 2020-2030. The study offers compelling insights on the basis of type (citrus, herbs & spices, mints, flowers, nuts, and others), nature (organic and conventional), end use (food & beverages, cosmetics & personal care, home care and toiletries, aromatherapy, animal feed, food service, and retail/household), and distribution channel (business to business and business to consumer), across seven major regions of the world.
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