Industry Outlook and Trend Analysis
The Lavender Essential Oil Market has encountered significant development over the recent years and is anticipated to grow tremendously over the forecast period. Lavender oil is an essential derived by refining from the flower spikes of specific types of lavender. Like every essential oil, it is not a pure compound; it is a complex blend of phytochemicals, including linalool and linalyl acetate. Oil of spike lavender was used as a dissolvable in oil painting, mostly before the usage of refined turpentine progressed toward becoming common. Lavender oil is a typical ingredient in mosquito and other insect repellents and has for quite some time been used in the manufacturing of perfume.
Drivers and Restraints
Significant driver behind expanding interest of lavender oil in the market situation is because of its aroma and flavoured eminence. These days’ consumers are generally influenced towards that product which has regular quality, organic in nature and useful for their well being, because of which it has higher demand among developing economies of world. On the opposite side according to the present market incline, lavender oil is drifting in the market due to its wide application in body care and beauty care products. This oil is generally used in soaps, lotions, perfumes, body creams and numerous other cosmetic products. Moreover, lavender oil is additionally gaining demand from specialty food industry where purchasers liked to purchase food and beverages which are abundant in natural flavour, natural ingredient, taste, scent etc.
Market Segmentation
The Lavender Essential Oil Market is segmented on the basis of form and application. Based on form the market is segmented into Concentrates, Absolutes and Blends. Based on application the market is segmented into Personal Care, Aromatherapy, Therapeutics, Cosmetics, Food and Beverages and Others. Based on revenue, the Therapeutics segment accounted for over 25% of the global lavender oil market in 2016. Therapeutics is foreseen to reflect significant development over the forecast period as demand for lavender oil products is boosting by leaps and bounds.
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Regional Outlook and Trend Analysis
Geographically, Western Europe accounts greater part of share based on volume contribution and from which Bulgaria is anticipated to be lucrative market in everywhere throughout the world as far as generation of lavender essential oil took after by Asia-Pacific region. On the opposite side, as far as usage North America is foreseen to be biggest consumer of lavender essential oil on the planet.
Competitive Insights
The leading players in the market are Takasago International Corporation, Firmenich, Young Living, Symrise, International Flavors and Fragrances Inc, Givaudan, Aromaland Inc, Rocky Mountain Soap Co and China Flavors and Fragrances Co Ltd. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Lavender Essential Oil Market is segmented as follows-
By Form:
Concentrates
Absolutes
Blends
By Application:
Personal Care
Aromatherapy
Therapeutics
Cosmetics
Food and Beverages
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Russia
Italy
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Rest of Europe
Asia-Pacific
China
Japan
South Korea
India
Southeast Asia
Rest of Asia-Pacific
South America
Brazil
Argentina
Columbia
Rest of South America
Middle East and Africa
Saudi Arabia
UAE
Egypt
Nigeria
South Africa
Rest of MEA
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Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
Customization of this Report can be done as per client’s requirement.
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