Global Market Size of Essential Oils Was USD 8.7 Billion in 2017 and the Growth of the Market Is Anticipated To Remain 7.7% during the Forecast Period 2019 To 2024Essential Oils Market Report, By Products (Orange, Lemon, Lime, Peppermint, Corn Mint, Citronella, Spearmint, Geranium, Clove Leaf, Eucalyptus, Jasmine, Rosemary, Tea Tree, Lavender), Application (Food & Beverages, Personal Care & Cosmetics, Spa & Relaxation, Home Care, Health Care) and Geography-Global Market Share, Trend Analysis & Forecast Up To 2024
According to a global study published by Axiom Market Research & Consulting™ about ‘Global Essential Oils By Type and Geography forecast up to 2024’, global market size of essential oils was USD 8.7 billion in 2017 and the growth of the market is anticipated to remain 7.7% during the forecast period 2019 to 2024. The report presents market size estimation and forecasts of essential oils such as Orange, Lemon, Lime, Peppermint, Corn mint, Citronella, Spearmint, Geranium, Clove Leaf, Eucalyptus, Jasmine, Rosemary, Tea Tree, Lavender, and Others. The report studied across various countries of key regions such as North America, Europe, APAC and the rest of the world region.
The market of essential oil is saturated with the domestic companies and with their vast product lines at a competitive price. Growing applications of essential oils, growing disposable income of consumers, increased use of fragrances in cosmetic and toiletries, consumer preference to use natural fragrances, and flavors are the major factors to boost the essential oils market.
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According to Axiom MRC, to beat the intense competition between local and global players, the companies are entering and expanding their online stores. The e-commerce websites render easy to show the vast product catalogs, product features, and applications of the same. Usually, Companies are presenting their vast grades and mixes of essential oils at different prices on online stores. E-Commerce websites offer flexibility to sell their products at competitive prices by passing benefits of distributors network to the end customers. Alongside the online sales also ends the dependency of dealer/distributors network to reach their end customers. It is observed that on online stores essential oils producers are showcasing their oils in the variety of packaging forms such as spray, roll on, nozzle bottle, and bottles with different shapes to attract the retail customers.
The key companies which lead the global market of essential oils include, Cargill Inc, E. I. DuPont De Nemours And Company, Koninklijke DSM N.V., Dōterra International LLC, Givaudan SA, Firmenich SA, Young Living Essential Oils, Sensient Technologies Corporation, The Lebermuth Company, Inc, International Flavors & Fragrances Inc, Symrise, Frutarom Industries Ltd, Mane Inc, Robertet SA and among others.
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Key Questions Answered in Report:
- What is the future scope of global essential oils market up to 2024
- What are the challenges to market growth?
- Who are the key vendors in the global essential oils market?
- What will the market size and the growth rate be in 2024?
- What are the key market trends impacting the growth of the global essential oils market?
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Axiom Market Research & Consulting™, a global market research firm driven with a simple aim of providing key actionable data to companies for taking informed business decisions pertaining to their marketing strategy, investments, new product launch, market competition etc.
Our creative research approaches help us to extract, analyze and compare markets along with peer markets, main or parent market, application and end-user industries, competitive landscape, and qualitative figures to arrive at market numbers. Backed by a team of experienced analyst, who has worked with leading research firms and delivered the number of Market research projects globally, Axiom Market Research & Consulting is able to cater to all market research and business consulting requirements.
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