The global essential oil market is projected to grow at a significant CAGR during the forecast period. Essential oil are highly volatile, aromatic yields obtained from plants. Due to their volatility, they can easily be extracted by the method of steam distillation from different natural sources. The oil-secreting glands are located in fruits, flowers, seeds, wood, leaves, roots, barks, and sometimes are present throughout the body of the plant. The essential oil have been used for centuries for different purposes and regarded with great intrigue, albeit, most of their uses have been lost with time, it is, by and large, acknowledged that people have been extracting them from fragrant plants. Their application for various purposes is gradually changed and not only used for culinary purposes to enhance the sensory appeal. They have also been used for therapeutic purposes, in addition to their application in the fabrication of fragrances and beauty care products.
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The primary factors that drive the growth of the market include the wide variety of applications in which essential oil are used. In addition, it offers many benefits over traditional medications which encourages its adoption. Increased number of peoples shifting towards the natural and organic oil along with the aromatherapy treatment adoption further influences the market growth. However, the higher prices of the oil may hinder the market growth during the forecast period.
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Global Essential Oil Market Segmentation
By Product Type
- LavenderOil
- Orange Oil
- EucalyptusOil
- PeppermintOil
- LemonOil
- RosemaryOil
- Other Oil
By Application
- Food and Beverages
- Medical
- Spa & Relaxation
- Other Applications
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