Global Eucalyptus Essential Oil Market 2019-2023
About this market
The demand for natural products is increasing owing to health concerns among consumers. Consumers are interested in being aware about the ingredients in skin care and food and beverage products, and they are showing an increased preference for natural products. This has increased the demand for eucalyptus essential oil. The emergence of several global and regional food manufacturers and retailers has resulted in the easy availability of natural food and beverage products across the globe. Increasing traction of consumers toward natural ingredients-based products is likely to drive the demand of eucalyptus essential oil over the forecast period. Technavio’s analysts have predicted that the eucalyptus essential oil market will register a CAGR of over 6% by 2023.
Rising consumer awareness
The increasing consumer awareness about the health benefits of eucalyptus essential oil is one of the major factors driving the global eucalyptus essential oil market. Vendors are increasing awareness about the benefits of eucalyptus essential oil through various creative marketing campaigns.
Easy availability of substitutes products
There is a wide range of essential oils that can be easily used as an alternative to eucalyptus oil depending on the application and requirement. The other essential oils that can be used as substitutes are orange oil, lavender oil, mandarin oil, grapefruit oil, cardamom oil, basil oil, and bergamot oil. Due to similar chemical properties and applications, these essential oils become key substitutes of eucalyptus essential oil, which is expected to affect the market growth during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the eucalyptus essential oil market during the 2019-2023, view our report.
The eucalyptus essential oil market appears to be fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.’
Technavio Announces the Publication of its Research Report – Global Eucalyptus Essential Oil Market 2019-2023
Technavio recognizes the following companies as the key players in the global eucalyptus essential oil market: Aromaaz International, dōTERRA, Lionel Hitchen, PLANT THERAPY ESSENTIAL OILS, Young Living Essential Oils.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the shift in consumer focus toward organic products.”
According to the report, one of the major drivers for this market is the perceived health benefits will drive the market growth.
Further, the report states that one of the major factors hindering the growth of this market is the lack of availability of feedstock is one the key challenges in the market.
PLANT THERAPY ESSENTIAL OILS
Young Living Essential Oils
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