In its report titled, “Lavender Oil Market: Global Industry Analysis and Forecast, 2016–2024” Persistence Market Insights (PMR) reveals that more than US$ 76 Mn worth lavender oil was consumed worldwide in 2016. The lavender market, particularly in Europe will remain highly lucrative in 2017 and beyond owing to the increasing consumer preference for natural plant derived lavender oil products in the region. Meanwhile, personal care products account for a bulk of the overall demand for lavender globally.
Medicinal Properties of Lavender Oil Boosting its Popularity amongst Consumers
Consumers both in developed and developing countries are spending more on organic essential oil products including lavender oil owing to their health benefits. Lavender oil is considered to have unique properties that are beneficial for the skin, hence, used in various skincare products. Over the years, application of lavender extract, oil and essence in food and beverage products has also increased to a substantial level. Lavender oil application in food and beverage products is expected to create an absolute $ opportunity of US$ 7.65 Mn between 2016 and 2024.
Despite the increasing popularity of substituent products such as the lavendin, players operating in the market remain focused on introducing newer lavender oil products. Moreover, development of advanced product formulations methods, especially for personal care products is anticipated to stimulate the market growth.
Additional Highlights from the Report Include
- According to PMR’s report, global lavender oil market is expected to reach US$ 124.2 Mn, reflecting a CAGR of 6.2% between 2016 and 2024.
- Owing to increasing inclination of consumers towards single oils of high quality and high purity, demand for absolutes and concentrates of lavender oil is likely to surge during the forecast period. In 2016, lavender concentrates accounted for a staggering 49.0% revenue share of the market.
- Lavender oil will continue to find robust application is personal care products during the forecast period. By the end of 2024, personal care products will contribute nearly US$ 45.1 Mn to the global lavender market.
In addition to Europe, North America and APAC will remain as the other two leading markets for lavender oil. Owing to the presence of prominent manufacturers and suppliers of lavender oil in North America, the region’s market is expected to witness a steady growth during the assessment period. The market in APAC is expected to be driven by the growing demand for lavender oil products in emerging countries such as China and India.
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- doTERRA International, LLC
- Rocky Mountain Soap Co
- International Flavours & Fragrances Inc.
- China Flavors and Fragrances Company Limited
- Takasago International corporation
- Young living essential oils LC
- Firmenich S A
- Symrise AG
- Givaudan SA
- Aromaland Inc.
1. Executive Summary
2. Market Introduction
2.1. Market Definition
2.2. Market Taxonomy
2.3. Essential Oils Market Overview
3. Global Lavender Oil Analysis Scenario
3.1. Pricing Analysis
3.1.1. Pricing Assumptions
3.1.2. Price Projections Per Region
3.2. Market Size (US$ Mn) and Forecast
3.2.1. Market Size and Y-o-Y Growth
3.2.2. Absolute $ Opportunity
3.3. Market Overview
3.3.1. Value Chain
3.3.2. Profitability Margins
3.3.3. List of Active Participants
18.104.22.168. Fragrance and Flavour Formulators
22.214.171.124. Distributors / Retailers
4. Market Dynamics
4.1. Macro-economic Factors
4.2.1. Supply Side
4.2.2. Demand Side
4.5. Forecast Factors – Relevance and Impact
4.8.Porter’s five force Model
4.9.Value Chain Analysis
5. Global Lavender Oil Analysis and Forecasts, By Form
5.2. Basis Point Share (BPS) Analysis By Form Type
5.3. Y-o-Y Growth Projections By Form Type
5.4. Market Value (US$ Mn) and Volume (‘000 Tons) Forecast By Form, 2016–2024
5.5. Prominent Trends
5.6. Market Attractiveness By Form
6. Global Lavender Oil Analysis and Forecasts, By Application
6.1.1. Basis Point Share (BPS) Analysis By Application
6.1.2. Y-o-Y Growth Projections By Application
6.2. Market Value (US$ Mn) and Volume (‘000 Tons) Forecast By Application, 2016–2024
6.2.2. Personal care
6.2.4. Food & Beverages
6.3. Prominent Trends
6.4. Market Attractiveness By Application
7. Global Lavender Oil Analysis and Forecasts, By Region