RISING POPULARITY OF AROMATHERAPY
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Essential Oils are generally used for the aromatherapy, which is a form of the medical alternative. It contains ethereal oil or volatile oil having aroma similar to the plants. Essential oils are obtained from different herbs which include eucalyptus, lemon, corn mint, peppermint, and orange. They are extracted from the roots, seeds, flowers, fruits, stems, leaves, and other parts of the plant. The essential oils have a wide range of applications in household cleaning, soap, perfumes, and cosmetics owing to their antibiotic and antiseptic properties.
The demand of using aromatic products for various applications is leading to the usage of flavors and fragrances products, ultimately leading to essential oil market to grow.
HEALTH BENEFITS OF ESSENTIAL OILS
Essential oils are beneficial for healing many diseases. It has been projected that near about 43% of people who have suffering from the anxiety and stress uses some form of alternative and medical therapy to help with their condition. Essential oils has various applications for medicinal and health benefits. Because of their antidepressant, detoxifying, antibacterial, antiviral, calming, and stimulating properties, essential oils have gained popularity as a natural, safe and cost-effective therapy for a number of health concerns. It also helps in balancing hormones, boost immunity & fight infections, improve brain function, reduce emotional stress & anxiety, alleviate aches and pains and in boosting skin and hair health. So, these large numbers of health benefits related to essential oils will help this market to grow globally.
INCREASING RESEARCH & DEVELOPMENT ACTIVITIES
The essential oils are basically formed from aromatic plant, which contains the volatile molecules that add fragrance and taste to it. Around 400-500 essential oils are commercially produced such as papayas, passion fruit , pears, cranberries carrots, pineapples and many others. Earlier steam distillation and cold pressed extraction method were the most preferable and commonly used for the essential oil extraction. But later on some research activity and development was done in this market and researchers came up with microwave assisted extraction method which gave better output and is beneficial for the upcoming advancement. Nowadays increasing research and development activities and publications towards the beneficial of essential oils is taking place because people are getting aware about the benefits of essential oils, natural, and organic based products which gives better output with no side effects.
INCREASING DEMAND FOR FLAVORS AND FRAGRANCES FROM VARIOUS INDUSTRIES
There is an increase in the demand for flavors and fragrance from various industries. So for these essential oils are being used because there is various health benefits associated with it. However essential oils are not only used in food and beverages and seasoning sector but also it has many important applications in the flavouring and perfume industry. Chamomile oil, peppermint oil, frankincense oil, lavender oil, tea tree oil, eucalyptus oils are used for medical application as these provide a wide range of health benefits like it relieves muscle aches and pain, respiratory and sinus infections, has antiviral properties, heals wounds and burns, relaxes body and reduces anxiety, relieves insomnia, supports immunity, combats tumor growth and many more. For cleaning purposes various essential oils are used because it gives protection against bacteria as well as it offers good aroma to the room. The demand of using aromatic products for various applications is leading to the usage of flavors and fragrances products, ultimately leading to essential oil market to grow.
RESTRAINTS SIDE EFFECTS ASSOCIATED WITH CERTAIN ESSENTIAL OILS
Essential oils are obtained from the different plants and herbs including the eucalyptus, lemon, corn mint, peppermint, and orange. These oils are obtained by extracting the roots, seeds, flowers, fruits, stems, leaves, and other parts of the plant. Essential Oil has a potential for causing adverse effects leading to serious health issue. Lack of sufficiently convincing evidence regarding the effectiveness of aromatherapy combined with its constraints to cause adverse effects questions the usefulness of this modality in any condition. Due to many side effects related to essential oils usage like allergic reactions, skin irritation, or cross-sensitivity may create a negative impact on the users. Thus, this factor will act as a restrain for the market growth.
CONCERNS REGARDING DEPLETION OF NATURAL RESOURCES
Essential oils are extracted from different parts of plants including, flowers, leaf, fruits, peel and others. Resources depletion refers to the situation where the consumption of natural resources is faster than it can be replenished. The natural resources of a nation can be divided as renewable resources and non-renewable resources. The natural resources contribute at large to the economic development of a nation. Current patterns of natural resource use and energy, urbanization and agricultural practices appear to be largely unsustainable and require urgent remediation. Some of the depletion factors include deforestation that is the clearance of the forests by logging and burning, soil erosion which is the action of exogenic process such as water, flow or wind which removes the soils and rock from one location to another. The world counts estimated that near about 18 million acres of forests are destroyed each year, and deforestation contributes to 12 to 17% of global greenhouse gas emissions annually. As the natural resources are depleting, the resources used for the production of essential oil are also decreasing which is acting as a restrain for the market.
OPPORTUNITIES INCREASING DEMAND FOR EXOTIC FRAGRANCES
Essential oils, flower oleoresins, absolutes are basic raw material that are used for the creation of flavour and fragrances in an industry. They are largely depended on the pharmaceutical, food and FMCG industry. Fragrances are usually categorized as floral, fresh, woody or oriental. Oriental or exotic fragrances are heavy and plush. The applications of these fragrances can be seen in personal care which covers deodorants, toiletries, cosmetics, shower gel, toilet soap shampoos, fabric conditioner, synthetic detergents, laundry soaps and many others. Increasing number of consumption of the fragrances can be seen in home cares, personal care, spa and relaxation. Thus, these factors will lead this market to grow.
RISING PREFERENCE FOR NATURAL INGREDIENT THAN SYNTHETIC ADDITIVES
Natural ingredient or plant essential oil is a volatile substance which is naturally produced by the natural ingredient. Plant based essential oil has been used as the natural fragrances by applying it on the skin or by diffusing it into a room. In addition to the benefit of their natural ingredient or many plant based essential oil which includes antimicrobial effects. However peppermint essential oil is an important ingredient in the essential oil blend which gives antimicrobial effects. Rising health concern of consumers and their need for natural additives leads to the search of natural alternatives to synthetic antioxidants. Drawbacks of synthetic oils include: it contains sulfates, parabens, propylene glycol, benzyl acetate and benzaldehyde, just to mention a few. In all, there are dozens of commonly used chemicals in these products, 95% of them derived from petroleum by-products. There is an increase in the preferences of natural based oil as compared to synthetic oils based products because these gives better output and has several health benefits. Due to this reason this will create demand and opportunities for the growth of this market.
CHALLENGE LIMITED AVAILABILITY OF RAW MATERIALS
The essential oils, extracted from the 1.0% of all the contents of the plant have the medicinal and aromatic values. There are more than 3,000 essential oils in which only 220+ are traded commercially. Generally not all the materials imported from the foreign manufacturers are 100.0% produced by them. The raw materials of specific material are sometimes ordered and collected from some other countries or markets or farms. The companies generally maintain a specific amount of storage of the raw materials. Many times they suffer through the shortage of raw materials, which leads to delayed manufacturing followed by the supply.
Some of the prominent players operating in this market are H. REYNAUD & FILS, Lebermuth, Inc., dōterra, FAROTTI SRL, FLAVEX Naturextrakte GmbH, Ungerer Limited, Cargill Incorporated, Dupont, Young Living Essential Oils, Rocky Mountain Oils, LLC, Robertet SA, Givaudan, Moksha, Sensient Technologies Corporation, Sydney Essential Oil Co., Edens Garden, Essential Oils of New Zealand Ltd., Royal DSM and many others.
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