Market Outlook of Spikenard Essential Oil:
An essential oil is a liquid containing aroma or fragrance compound taken from different parts of plants. Essential oils are also called as ethereal oils, volatile oils, or aetherolea. An oil is considered to be essential as it contains the essence of plants, which is one of the main reason to provide the fragrance and aroma to the oil. Essential oils are mainly used in cosmetics, soaps, perfumes and other personal care products. Essential oils are being used in the food and beverage industry in order to increase the aroma of the food product. It is used during the aromatherapy, as it induces relaxation for the body. There are different types of essential oils available such as cinnamon essential oil, clove essential oil, lemon essential oil, spikenard essential oil, ginger essential oil, cumin essential oil, rosewood essential oil, sandalwood essential oil among other essential oils. Spikenard essential oil is made from spikenard tree. Spikenard essential oil is mostly found in APAC region. Spikenard essential oil is otherwise called as muskroot, nardin and nard. Spikenard essential oil has been used for many years to treat various problems in female reproductive organs such as ovaries and uterus. Spikenard essential oil is used for healing skin related problems. Spikenard essential oil market will increase in the upcoming years for its various medicinal properties.
Growing consumer preference for Aromatherapy is promoting demand for Spikenard Essential Oil for its soothing and relaxing benefits:
Spikenard essential oil is extracted by a process known as steam distillation of the spikenard resins obtained. Spikenard essential oil is widely used as an herbal medicine in places such as India and Nepal. Spikenard essential oil possesses many properties such as antifungal, antibacterial and anti-inflammatory. Spikenard essential oil is also used as a deodorant, sedative, laxative and a uterine substance. Spikenard essential oil is earthy and has a soil-like smell, which can be used in aromatherapy as a calming and a sedative agent. The spikenard essential oil consists of calarene, aristolene, coumarin, clalarenol, nardol, dihydroazulenes, nardostachone, jatamanshinic acid, valerianol, valeranone, and valeranone as its important components, which are also the main sources of its medicinal properties. Spikenard essential oil possess antibacterial properties which makes it as an efficient skincare agent. The spikenard essential oil also helps cure ailments which are caused by fungal infections such as food poisoning, itching, psoriasis, dermatitis, and other fungal infections. Spikenard essential oil helps eliminating odor as it carries a pleasant smell, which can also be used as a deodorant.
Global Spikenard essential oil Market: Market Segmentation
On the basis of end use, the global spikenard essential oil market has been segmented as:
- Household Care
- Cosmetics and Personal Care
On the basis of functions, the global spikenard essential oil market has been segmented as:
On the basis of distribution channel, the global spikenard essential oil market has been segmented as:
- Convenience Stores
- Specialty Stores
- Online Retail
Global Spikenard Essential Oil Market: Market Participants
Some of the market participants operating in the global spikenard essential oil market identified across the value chain Kanta Enterprises Private Limited, AOS Products Private Limited, Aromaaz International, Lipotec S.A.U., Avi Naturals, N. CHIMANLAL & CO., Kanta Enterprises Private Limited., Kazima Perfumers, Venkatramna Industries, Monte Orleans Incorporation., Ambre Blends, Essential Aura Aromatics, Beach Stonearoma among the other Spikenard Essential Oil participants.
Key Developments in the Spikenard Essential Oil market:
In the year 2018, Ambre Blends. The company got featured in most of the health and wellness, cosmetic and personal care magazines such as organic spa, new beauty magazine, HARPER’S BAZAAR AUSTRALIA, glamourmag.com and many other fashion blogs which creates an awareness among the consumers regarding spikenard essential oil benefits.
Opportunities for Participants in the Spikenard Essential Oil Market:
The potential for the growth of the spikenard essential oil market is quite high owing to its various health benefits. The population in regions such as Northern America and Latin America use Spikenard essential oil on a daily basis. If the same practice is adopted by other regions, the spikenard essential oil is likely to lead to global market growth.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.
TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.
Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:
Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.
Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.
Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.