Essential oils Market Will Hit Big Revenues In Future

Northbrook, USA, 2021-Apr-06 — /EPR Network/ — The global essential oils market size is estimated to be valued USD 10.3 billion in 2021 and is expected to reach a value of USD 16.0 billion by 2026, growing at a CAGR of 9.3% in terms of value during the forecast period. In terms of volume, the essential oils market is estimated to account for 253.2 KT in 2021 and is expected to reach at 345.4 KT by 2026, growing at a CAGR of 6.4% during the forecast period. Factors such as a growth in awareness toward preventive healthcare, improvements in the standard of living, and rise in double-income households, along with the increase in demand for aromatherapy are some of the factors driving to the growth of the essential oils market.

Key players in this market include Cargill, Inc. (US), DuPont (US), Koninklijke DSM N.V. (Netherlands), dôTERRA International LLC (US), Givaudan SA (Switzerland), Firmenich SA (Switzerland), Young Living Essential Oils (US), Sensient Technologies Corporation (US), The Lebermuth Company, Inc. (US), International Flavors & Fragrances Inc. (US), Symrise (Germany), MANE (France), ROBERTET SA (France), Rocky Mountain Oils LLC (US), BIOLANDES SAS (France), Essential Oils of New Zealand (New Zealand), Falcon (India), Farotti (Italy), India Essential Oils (India), and Ungerer Limited (UK).

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New product launches, expansions, investments, acquisitions, and collaborations were the key strategies adopted by the leading players in the essential oils market with a view to improve their product line and presence in the market.

Givaudan SA (Switzerland) operates its business through two major segments, namely, flavor and fragrance. It offers beverages, savory snacks, sweet goods, dairy, and the fragrance is for personal, home, and laundry care brands and prestige perfumes under its flavor segment. The company offers essential oils under the fragrance segment; the company manufactures perfumes with specialized natural ingredients, which include different natural sources such as patchouli, tonka beans, benzoin, lavender, and sandalwood.

The company has a strong global presence at more than 95 locations worldwide with more than 35 production sites. It operates its business through different subsidiaries, some of which include Givaudan Fragrances Ltd. (Shanghai), Givaudan Ltd (Thailand), Givaudan Flavors Ltd (China), and Givaudan Flavors Pvt Ltd (India). The key competitors of the company include Cargill (US), DuPont (US), and Koninklijke DSM N.V. (Netherlands).

Koninklijke DSM N.V. (Netherlands), also known as Royal DSM, is a global science-based company engaged in health, nutrition, and materials business. The company operates through different segments, namely, nutrition, materials, innovation center, and corporate activities. Its nutrition segment includes DSM Nutritional Products and DSM Food Specialties. The nutrition & food ingredients segment of the company caters to different end-use application industries, such as food, feed, and pharmaceuticals. The company offers eubiotics under the animal nutrition & health segment.

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Asia Pacific is estimated to hold the largest market share during the forecast period

Asia Pacific accounted for the largest share during the forecast period due to the growing demand for meat and meat products in developing and developing countries such as China, India, and South Korea. The USDA is of the view that factors such as increasing disposable income, increase in population, and rapid urbanization have significantly aided in the growth of the market in this region. With the westernization of diets in the various countries in Asia Pacific, the demand for better quality meat has been growing which calls for the need to improve the overall health and productivity of livestock species which further drives the growth of the essential oils market.

This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the essential oils market. It consists of the profiles of leading companies such Cargill, Inc. (US), DuPont (US), Koninklijke DSM N.V. (Netherlands), dôTERRA International LLC (US), Givaudan SA (Switzerland), Young Living Essential Oils (US), The Lebermuth Company, Inc. (US), Symrise (Germany), Sensient Technologies Corporation (US), Essential oils of New Zealand (New Zealand), Firmenich SA (Switzerland), International Flavors & Fragrances Inc. (US), Mane (France), ROBERTET SA (France), Rocky Mountain Oils LLC (US), BIOLANDES SAS (France), Falcon (India), Farroti (Italy), Indian Essential Oils (India), and Ungerer Limited (UK).

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