Essential oils are substances that are both fragrant and odorless that are combined to create products or mixtures. These odoriferous substances are chemically pure compounds that offer distinctiveness in their own right. They are extracted using various techniques, including solvent extraction, cold press extraction, distillation, and enzymatic extraction. Through the demand from the food and beverage industry for a variety of products such as soft drinks, bakery goods, sports drinks, and many others, the use of essential oils is increasing. Additionally, the proliferation of spas and relaxation centers nationwide has increased the demand for essential oils.
According to Data Bridge Market Research, the North America Essential Oils Market is expected to reach USD 6,998.52 million by 2030, at a CAGR of 9.7% during the forecast period.
“Transition to aromatherapy boost market growth"
With more spas opening in various locations, rising consumer interest in wellness, increased demand for natural products, and its advantages for both psychological and physical health, aromatherapy is becoming a more and more popular form of therapy. The potential for personal and therapeutic growth presented by using essential oils in aromatherapy is enormous. Different combinations of essential oils are used in this alternative therapy to treat conditions such as depression, indigestion, headaches, insomnia, muscular pain, and respiratory issues. Thyme essential oil, for instance, is frequently used in aromatherapy to ease fatigue, jitters, and stress. In order to expand further, manufacturers can launch new products with the demand for essential oils, which may lead to market growth.
What restraints the growth of the North America Essential Oils Market?
“Volatile supply will limit the market growth rate"
The weather conditions may be to blame for the scarcity of raw materials. Farmers find it challenging to cultivate and grow plants like herbs, spices, mint, citrus fruits, and others in unfavorable climatic conditions, which results in a shortage of raw materials. These plants' variable production has led to a variable supply of their parts, such as seeds, roots, leaves, and other things. The price of the finished good, these essential oils, is also influenced by the erratic supply of raw materials. The limited supply of raw materials is anticipated to hinder the market's overall value chain, which is a significant barrier to the growth of the essential oil market.
Segmentation: North America Essential Oils Market
The essential oils market is segmented on the basis of product, type, category, method of extraction, application, end user and distribution channel.
- On the basis of product, the essential oils market is segmented into citrus oils, floral oils, herbaceous oils, camphoraceous oils, minty oils, spicy oils, resinous/musky oils, and woody/earthy oils.
- On the basis of types, the essential oils market is segmented into singles and blends.
- On the basis of category, the essential oils market is segmented into conventional and organic.
- On the basis of method of extraction, the essential oils market is segmented into hydro-or-steam-distillation, hydrodiffusion, cold press extraction, water distillation, supercritical fluid extraction, solvent extraction, microwave assisted process, carbondioxide extraction, and others.
- On the basis of application, the essential oils market is segmented into aromatherapy, cosmetics and personal care, toiletries and cleaners, home care, agriculture, food and beverages, alternative energy and medical, textiles, automobile air fresher, food packaging material, and others.
- On the basis of end user, the essential oils market is segmented into cosmetics companies, pharma companies, medical spa, dermatology clinics, and others.
- On the basis of distribution channel, the essential oils market is segmented into direct and indirect.
Regional Insights: U.S. is expected to dominate the North America Essential Oils Market
U.S. dominates the market and will continue to flourish its trend of dominance during the forecast period. The major factor attributable to the region’s dominance are growing to understand of the advantages of essential oils for health. Further, growing acceptance of natural products as well as increased awareness of the value of living a healthy lifestyle. Factors such as the region's high per capita income, tax advantages, and government subsidies are also luring multinational corporations to establish and expand operations there. The region's growing preference for preventive healthcare significantly contributes to this situation.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/north-america-essential-oils-market
Recent Developments in North America Essential Oils Market
- In 2020, with advanced precision and real-time AI-driven motion tracking and synchronization treatment delivery for all stereotactic body radiation therapy (SBRT) treatments and stereotactic radiosurgery (SRS) procedures, Accuray unveiled the CyberKnife S7 System, the company's next-generation CyberKnife platform.
- In 2020, Predictive modeling, artificial intelligence, and patient-specific implants were used by Medicrea, a pioneer in the development of spinal surgery, before Medtronic acquired the company. These innovations will probably result in safer procedures and more reliable results.
The Prominent Key Players Operating in the North America Essential Oils Market Include:
- Lebermuth, Inc. (U.S.)
- Floral Essential Oil (India)
- Kelvin Natural Mint Pvt Ltd (India)
- SOiL Organic Aromatherapy and Skincare (U.S.)
- dōTERRA (U.S.)
- Clive Teubes Group (South Africa)
- Young Living Essential Oils, LC. (U.S.)
- Floracopeia (U.S.)
- Robertet (France)
- Rocky Mountain Oils, LLC (U.S.)
- Vigon International, LLC (U.S.)
- Frontier Co-op. (U.S.)
- Synthite Industries Ltd. (India)
- Silverline Chemicals (India)
- Phoenix Aromas (U.S.)
- Essential Oils, LLC (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of essential oils market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: North America Essential Oils Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
