India Essential Oils Market
India Essential Oils Market (Product: Citrus Oil, Eucalyptus Oil, Clove Oil, Peppermint Oil, Basil Oil, Citronella Oil, Spearmint Oil, Sandal Wood Oil, and Others; and Application: Food & Beverages, Pharmaceuticals, Cosmetics & Toiletries, Aromatherapy, Homecare Products, Fragrances, and Others) - Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030
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Essential Oil-infused Ice Creams Prove to be Game Changer for Niche Consumer Requirements
Innovations in essential oil-infused ice cream flavors are grabbing the attention of consumers. For instance, Minnesota-based ice cream startup, Moody’s Ice Cream, revealed that the startup is crafting essential oil-infused ice cream flavors with specific sensory benefits. Mood-boosting properties of essential oil ingredients are replacing the sugar in ice creams, which are otherwise responsible for spiking blood sugar levels and fatigue. Hence, companies in the India essential oils market should innovate in special ingredients, since the revenue of F&B application is estimated for aggressive growth during the forecast period.
The India essential oils market is expected to reach an output of ~50,400 tons by the end of 2030. Startups are experimenting with coconut milk-based vegan flavors such as Mexican chocolate with cinnamon essential oils. Thus, the growing demand for natural and organic products is catalyzing innovations in food items. In order to meet these demands, startups are tying up with local co-ops to expand their distribution chains and grow on a national level.
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Technical Advancements Play Instrumental in Drug Discovery
Essential oils hold promising potential as drug candidates in the India essential oils market. A research team at the VIB-KU Leuven Center for Microbiology and the KU Leuven Department of Biology, Belgium, revealed that essential oil components can be obtained by dry or steam distillation processes. However, essential oil components are complex mixtures of plant metabolites, which are relatively hydrophobic and volatile in nature, thus causing interference during high throughput screening and created challenges for researchers. Hence, researchers are increasing their efficacy in technical developments coupled with restrictions on the use of chemicals for drug discovery.
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Companies in the India essential oils market should collaborate with researchers for innovating in drug discovery to produce natural products. They are boosting production capacities to develop dietary supplements. This is evident since pharmaceutical applications are estimated to dictate the second-highest revenue in the market, where the market is expected to reach a value of US$ 1.5 Bn by the end of 2030.
Robust Stainless Steel Machinery Triples Filler Speed and Improves Yield
Cosmetics and toiletries companies are turning toward packaging companies to accelerate their filler speed and improve yield. For instance, Young Living— a Utah-based specialist in therapeutic-grade oils, revealed that the company is setting its collaboration wheels in motion with Syntegon, a specialist in processing and packaging, to achieve pharma-grade filling of essential oils with increased speed and reliability. Thus, companies in the India essential oils market should adopt such collaborative strategies to triple their filler speed.
Companies in the India essential oils market should explore opportunities with stainless steel filling machines that are easy to clean and do not corrode after contact with cleaning agents or even essential oils. Since the India essential oils market is largely fragmented in nature with tier 3 emerging players accounting to ~45%-50% of the market stake, manufacturers can gain a competitive edge by investing in the novel stainless steel machinery that improves yield. The market is rapidly growing in domains of aromatherapy pick-me-ups and relaxation, thus creating value-grab opportunities.
Anti-infection Properties of Essential Oil Protect Individuals from Coronavirus
The novel coronavirus (COVID-19) is causing distress among individuals worldwide. Hence, pharma and healthcare companies are increasing their R&D activities to develop vaccines and drugs that minimize the severity of the virus. As suggested by the FDA on March 6, 2020, essential oils hold promising potential to combat Coronavirus. Such revelations are creating incremental opportunities for companies in the India essential oils market. The U.S. being severely hit by to the COVID-19 crisis is using essential oils, owing to their proven antiviral properties.
Due to a surge in the number of COVID-19 patients in India, companies in the India essential oils market are increasing their production capabilities to manufacture essential oils made from basil, clove, and eucalyptus globulus, amongst others. They are raising awareness about effective anti-virus synergies that deliver protection against coronavirus. On the other hand, eucalyptus radiata is being highly publicized for powerful antibacterial and anti-infection properties.
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Increased awareness about essential oil blends has become one of the key focus points for companies in the India essential oils market, to offer protection against coronavirus. Striking the right balance between health and indulgence is helping F&B startups to meet niche requirements of consumers. Startups should tap opportunities in online sales and rotating pop-up events, as consumers in India are gradually opening up to experimentation with F&B items.
Moreover, value-grab opportunities in nutritional and dietary supplements are benefitting companies in the market landscape. However, new drug discovery associated with essential oil components is a time consuming and expensive process. Hence, companies should focus on in silico drug discovery filters capable of predicting drug disposition based on specific calculated parameters.
Essential Oils Market: Overview
- Essential oils are concentrated, volatile, hydrophobic plant extracts removed from different parts of plants such as leaves, roots, fruits, fruit peels, seeds, and barks
- Essential oils are volatile in nature. These oils contain aromatic essences of plants. Hence, they are called essential oils. An essential oil bears the name of the plant from, which it is extracted from. Essential oils have flavoring characteristics. They are used as a raw material in the manufacturing of various products, including food, beverages, aromatherapy products, cosmetics, homecare products, and fragrances.
- Steam distillation is a widely used method to extract essential oils from plants. Other methods include maceration, effleurage, solvent extraction, and mechanical pressing.
- Waste materials of plants are used as a source for manufacture of essential oils. For instance, citrus fruit peels are collected from the fruit juice industry. The collected peels are subjected to cold squeezing and crushing in order to obtain a fluid, which is then steam distillated to extract the essential oil.
- Essential oils are used in the manufacturing of perfumes, cosmetics, detergents, soaps, shampoos, cleaning gels, etc. As pharmaceuticals, essential oils are used in dental products and various ayurvedic medicines.
- The essential oils market in India is anticipated to expand at a significant pace during the forecast period. Demand for essential oils in various industries, including food & beverages, aromatherapy, cosmetics & toiletries, and homecare products has been increasing over the last few years, owing to their wide usage in these end-use industries. This factor is likely to boost the essential oils market in India during the forecast period.
- Essential oils offer several health benefits, which drives the demand for these oils in pharmaceutical applications. Essential oils are sourced from plants, unlike other conventional medicines. They do not have any major side effects.
- Consumers’ rising preference for natural and organic products is driving the application of essential oils in cosmetics, homecare products, and food & beverages
- Leading FMCG (fast-moving consumer goods) manufacturers are launching products with natural ingredients. The development of new, natural products is estimated to fuel the demand for essential oils during the forecast period.
Citrus Oil to Witness Rise in Demand
- The essential oils market in India has been segmented based on product, application, and zone. Based on product, the market in the country has been categorized into citrus oil, eucalyptus oil, clove oil, peppermint oil, basil oil, cornmint oil, spearmint oil, sandal wood oil, and others.
- The demand for citrus oils is increasing due to its increasing consumption. The citrus oils segment is anticipated to expand at the maximum CAGR during the forecast period. In terms of revenue, the cornmint oil segment held a major market share in 2019. India is a major producer of mentha oils. The country produces various types of mentha oils, including cornmint oil, peppermint oil, spearmint oil, and Japanese mint oil.
- Based on application, the India essential oils market has been classified into food & beverages, pharmaceutical, cosmetics & toiletries, aromatherapy, homecare products, fragrances, and others. In terms of both revenue and volume, the food & beverages segment constituted a significant share of the essential oils market in India in 2019. It is anticipated to expand at a rapid pace during the forecast period.
West Zone to Dominate India Essential Oils Market
- In terms of zone, the India essential oils market has been classified into east, west, north, and south. The west zone segment dominated the market in the country in 2019. This trend is estimated to continue during the forecast period also. The zone is projected to create lucrative opportunities for the market in the near future.
- Increase in the demand for natural products from various end-use industries in India is boosting the demand for essential oils in the country
India Essential Oils Market: Competition Landscape
- The India essential oils market is fragmented. A large number of small- and medium-scale local manufacturer and suppliers of essential oils operate in the market. Key players operating in the India essential oils market are
- Bo International
- Kanta Enterprises Private Limited
- Falcon Essential Oils
- Indian Aroma Exports
- India Essential Oils
- Shiv Sales Corporation
- AG Industries
- BMV Fragrances Pvt. Ltd
- Moksha Lifestyle Products
- Kush Aroma Export
- Veda Oils.
India Essential Oils Market - Scope of the Report
Transparency Market Research’s recent research report on the India essential oils market provides readers with an assessment of the landscape of the market in the country, with the help of a comprehensive outlook. This study on the India essential oils market analyzes the market for the period from 2020 to 2030, wherein 2019 is the base year. This report enables readers to make important decisions regarding their business, with the help of a wealth of information enclosed in the study.
This TMR study on the India essential oils market also provides data on important players and stakeholders in the market, along with competition analysis. The report also provides understanding of drivers, restrains, opportunities, and market trends.
This study also discusses underlying trends and the impact of various factors that are driving the India essential oils market, along with their influence on growth of the market in the country.
This study also offers Porter’s Five Forces analysis and value chain analysis of the India essential oils market in order to elaborate on crucial growth strategies of and opportunities for players operating in the market in India.
Key Questions Answered in India Essential Oils Market Report
- How much revenue is the India essential oils market expected to generate by the end of the forecast period?
- Which zonal segment currently accounts for the maximum share of the India essential oils market?
- What are factors expected to drive the India essential oils market during the forecast period?
- Which zone is likely to be a highly lucrative market for essential oils in India during the forecast period?
- What are the essential strategies adopted by key stakeholders of the India essential oils market to expand their geographical presence?
- What are major advancements in the India essential oils market?
This report answers these questions about the India essential oils market, aiding major stakeholders and key players in making correct decisions and strategizing for expansion of their business.
India Essential Oils Market: Research Methodology
This TMR report on the India essential oils market is based on a complete and comprehensive evaluation of the market, supported by secondary and primary sources. The competition scenario of the India essential oils market is supported by an assessment of different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data and current trends, researchers of the essential oils market in India arrived at predictions and estimations and calculated the market forecast.
This report uses an analytical triangulation method to estimate the India essential oils market by using both bottom-up and top-down approaches.
This detailed assessment of the India essential oils market, along with an overview of the market, is provided on the basis of a careful examination of growth opportunities. Analysts’ conclusions on how the India essential oils market is set to expand are based on carefully vetted primary and secondary sources.
India Essential Oils Market – Segmentation
This report on the India essential oils market segments the market based on product, application, and zone.