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ASIA PACIFIC ESSENTIAL OILS MARKET - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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  • 60 Pages
  • August 2022
  • Region: Asia Pacific
  • Mordor Intelligence
  • ID: 5119586
The Asia-Pacific Essential Oils Market is expected to record a CAGR of 7.30% during the forecast period (2022-2027).

Due to the COVID-19 pandemic, the essential oil market has seen an upsurge in oil sales. The demand for these oils increased as they claimed to enhance health and immunity. The pandemic has raised global awareness of improving the body's immune system; hence this factor is driving the market growth of essential oils.

Across the region, the demand is led by the rising standard of living and high per capita income, followed by increased spending, where the proliferation of the relaxation and wellness industries has heavily influenced the surge in demand for essential oils. Furthermore, among some of the countries studied in the report, the demand for citrus-based essential oil such as Oranges and lemon has garnered significant interest among consumers. The product has witnessed a growing penetration across both the household and personal care industry, wherein the use of citrus essential oil has recently escalated in flavors, odourants, and pharmaceutical ingredients segment.

Key Market Trends

Increasing Awareness Toward the Health Benefits of Essential Oil

Essential oil poses both antimicrobial and antifungal properties. Cosmetic preparations such as gels, creams, and ointments don't require an additional chemical preservative if they contain essential oil or a single compound as an active agent, like that of rosemary oil. This has led manufacturers to incorporate essential oil, elevating the existing properties of ointment, gels, and creams. Essential oils have a wide set of incorporation in cosmetic products, perfumes, and related household products in line with their variety of properties but most importantly due to their pleasant odor. However, there is a variation in the composition of volatile natural complex mixtures and largely varies depending on the quality of plant material or the extraction process. These factors are highly important in ensuring that personal care products safely incorporate essential oils as the base ingredient.

Japan is Expected to Witness High Growth Rate

In recent years, the Japanese essential oil industry has maintained rapid growth propelled by the rapid growth in domestic demand. However, with the onset of rapid development of the industry, the development of various regions is uneven. Furthermore, the online presence of most of the manufacturers has slowly proved to be beneficial as they are reaching out to a broader consumer base. The technological advancement in Japan is also driving the essential oil market.

On the other hand, the audience's consumption habits are mature, and the concentration of consumption is high. The overall consumption characteristics are similar to those of the internationally developed regions. International essential oil brands have a stronghold in first-tier cities and occupy a significant competitive advantage by their strong brand status.

Competitive Landscape

The Asia-Pacific Essential oil market is competitive with a strong presence of regional players holding a dominating position in specific regions. Major players operating in the market are aroma treasures, Young living essential oils, Ultra International B.V., and do Terra, among others. New product development and expansion are some key strategies players adopt that allow them to have a stronghold in the market.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

This product will be delivered within 2 business days.

Table of Contents

1.1 Study Assumptions & Market Definitions
1.2 Scope of the Study
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5.1 By Product Type
5.1.1 Lavender Oil
5.1.2 Orange Oil
5.1.3 Eucalyptus Oil
5.1.4 Peppermint Oil
5.1.5 Spearmint Oil
5.1.6 Lemon Oil
5.1.7 Rosemary Oil
5.1.8 Geranium Oil
5.1.9 Tea Tree Oil
5.1.10 Others
5.2 By Application
5.2.1 Food & Beverages
5.2.2 Aromatherapy
5.2.3 Pharmaceuticals
5.2.4 Cosmetics & Personal Care
5.2.5 Others
5.3 Geography
5.3.1 China
5.3.2 India
5.3.3 Japan
5.3.4 Australia
5.3.5 Rest of Asia-Pacific
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Aroma Treasures
6.4.2 Ultra International BV
6.4.3 Organic Harvest
6.4.4 Young Living
6.4.5 Do Terra
6.4.6 AT-Aroma Co. Ltd
6.4.7 Tilley Aroma Natural
6.4.8 Auroma
6.4.9 Springfields Australia
6.4.10 In Essence

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Aroma Treasures
  • Ultra International BV
  • Organic Harvest
  • Young Living
  • Do Terra
  • AT-Aroma Co. Ltd
  • Tilley Aroma Natural
  • Auroma
  • Springfields Australia
  • In Essence