Global Lavender Oil Market - 2022-2029
The global lavender oil market is valued at USD XX million in 2021 and is forecasted to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).
Lavender oil is made from the blooms of the lavender plant, which grows wild in the Mediterranean and Northern Africa. Lavender oil extraction is a tedious process, and the extraction is distilled at the end. Lavender essential oil is the most expensive and versatile of all the essential oils available. This oil is widely used in the food and beverage industry and the fragrance industry, which is expected to propel the global lavender oil market forward throughout the forecast period. This oil is frequently used in the flavoring industry. This oil is also used in the pharmaceutical industry used in treatments. The global lavender oil market is expected to grow in the coming years as these therapies gain in popularity.
The demand for lavender oil is rising as a result of its use in the cosmetics industry
Lavender oil is an essential oil extracted from the lavender plant, growing wild in Mediterranean regions. It's one of the most often utilized essential oils in aromatherapy and beauty and wellness treatments. Lavender oil is in high demand due to a growing trend among customers to choose natural and organic products. Perfumes, lotions, soaps, body creams, and various other cosmetic products contain this oil. Lavender oil has long been used to reduce tension and calm nerves worldwide. Its pleasant, floral scent might help you relax and sleep by calming restless minds. The increased demand for this oil due to its use in the fragrance and food and beverage industries is expected to benefit the worldwide lavender oil market in the coming years.
Lavender oil is in high demand due to a growing trend among customers to choose natural and organic products. Perfumes, lotions, soaps, body creams, and various other cosmetic products contain this oil. This essential oil's anti-inflammatory, antifungal, depressive, antiseptic, and antibacterial effects are well-known. It is used to treat various ailments, including acne, depression, migraine headaches, toothaches, and sprains. Perfumes, lotions, soaps, body creams, and various other cosmetic products contain this oil. Lavender oil is frequently used in the specialized food industry, owing to a shift in customer preferences toward foods and beverages created with natural ingredients. While the cosmetics business has emerged as one of the most important end-use categories for lavender oil, the food and beverage industry is not far behind. Lavender oil is used in the culinary herb, jelly, tea, and dairy goods. This oil is used to treat asthma, diabetes, colds, dermatitis, and insect repellent in the pharmaceutical sector. Such a diverse range of applications is expected to assist the global lavender oil market's growth over the forecast period.
Absolute segment held the highest market revenue in the year 2021
Absolutes are aromatic, derived from plants, volatile, and can be used for several health and wellness issues, just like their essential oil cousins. Chemical solvents are used to extract absolutes, which are eliminated later in the extraction process, leaving only a small amount of the solvent in the finished product. The essential oil is made from organic French lavender flowers while following the highest quality requirements throughout extraction. To ensure the integrity of the steam distilled lavender essential oil, Nature's Absolutes uses only the finest quality ingredients. Aromatherapy can also be utilized with this oil. Lavender essential oil relieves itchy, dry scalps, adds volume and nourishes dry, damaged hair. This essential oil revitalizes skin by making it soft and firm, improving skin tone and making it healthy and radiant.
Based on the application, the therapeutics segment held the highest market revenue share of XX% in 2021. Lavender essential oil is calming to the mind and body when used in aromatherapy. Lavender oil, when used as aromatherapy, has been demonstrated to improve sleep quality, as well as alleviate insomnia, sadness, and anxiety. According to one study, lavender oil can increase the overall quality of sleep by 60%, including the amount of sleep and the time it takes to fall asleep. Lavender oil has been studied for its anxiety-relieving properties in several research. Breathing in the aroma of lavender, for example, was proven to reduce anxiety and enhance mood in persons awaiting dental treatment in a 2005 study published in Physiology & Behavior.
Europe held the highest market revenue in the year 2021
The European region has emerged as the leading global lavender oil market. The global lavender oil market is geographically centered in Europe, with Bulgaria being the leading producer. Europe accounts for over 3/5th of the global lavender oil market's total production. Due to a very lucrative market in Bulgaria, the area is likely to maintain its regional supremacy over the predicted period. The presence of the lavender plant, combined with its historical use, is predicted to expand the lavender oil market's potential throughout Europe. Lavender can be a profitable crop to grow on the farm. Lavender is a low-maintenance crop in addition to being rich in value. It's a year-round plant. The presence of major lavender oil-producing and consuming countries in this region is an important factor driving the target market's expansion.
The global lavender oil market is fragmented. The market is competitive and comprises numerous regional and international competitors. Furthermore, while engaging the consumers with innovation and expansion strategies, key players capitalize on the market revenue. NOW Foods, Enio Bonchev, Alpha Aromatics, Sydney Essential Oil Co. Pty Ltd., Young Living Essential Oils, Ovvio Oils, Alteya Group, Mother Herbs Private Limited, and NHR Organic Oils are some of the major companies in the lavender oil market. Players are extensively focusing on providing consumers with innovative offerings while including multiple use cases and benefits in their products. Nature's Ultra, a supplier of CBD products, was acquired by Young Living Essential Oils, a US-based essential oil firm, in July 2019. Young Living Essential Oils is projected to extend its product selection and reach in the region due to this acquisition.
Positive impact on the global lavender oil market
The coronavirus outbreak has reignited interest in the fragrant crop. Scientists are examining the effect of lavender-derived flavonoids on the angiotensin-converting enzyme 2 receptors, as well as this potential method for COVID-19 treatment. An in vitro antiviral action of essential oil of L.angutifolia against influenza type has been demonstrated in one study. With a prevalence of 39-67 percent, olfactory dysfunction is one of the most common types of issue in COVID-19. Although OD is not a life-threatening condition, it has a significant influence on one's quality of life and, if left untreated, can lead to depression and anxiety. There is no specific treatment for COVID-19-induced OD, and the efficacy of current COVID-19-related OD treatments is uncertain. The medicinal effectiveness of lavender oil in patients with anxiety, sleep difficulties, headaches, convulsions, cognitive disorders, and depression has fueled lavender oil demand.
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PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
Excel data sheet with valuable data points of the global lavender oil market– Regional and Country level segmentation
Product mapping in excel for the key products of all major market players
Market Share Analysis covering business revenues ($) and revenue share (%) of key market players
The global lavender oil market report would provide an access to approximately 55 market data tables, 45 figures and 190 pages
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