The report forecasts the global essential oil market to grow at a CAGR of 8.26% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: A trend which is boosting market growth is the increasing interest in aromatherapy. The rising popularity of aromatherapy and other natural remedies such as massage has encouraged the development of essential oils. A number of cosmetics brands are using essential oils in their products, and promoting their products by highlighting their aromatherapy advantages. Such product innovations are driven by consumers who are willing to pay more for cosmetics products with added benefits.
According to the report, a key growth driver is the rise in disposable income. There has been a substantial rise in double-income households in both developing and developed countries worldwide. This has directly boosted consumers' purchasing power and their ability to afford high-end products. The number of working women has increased considerably. In 2015, in the US, more than 57% of women were working, and 70% of women with children under age 18 participated in the labor force. Therefore, with the increase in household income, demand in the food and beverage, recreation, medicine, and home cleaning segments has increased exponentially over the past few years, and products with essential oils and other natural products are in high demand among high-end and health-conscious consumers.
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?
The Body Shop International
Bath & Body Works Direct
High Altitude Organics Naturals Essentials Herbs
Natural Bath and Body Products
Plant Therapy Essential Oils
Sydney Essential Oils
The Massage Oil Shop
The Lebermuth Company
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Product segmentation
PART 07: Market segmentation by distribution channel