NEW YORK, United States, Aug. 25, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Lavandula Oil (Lavender Oil) Market By Type (Absolutes, Concentrates, And Blends), By Application (Therapeutics, Personal Care, Aromatherapy, Food & Beverages, Cosmetics, And Others), By Distribution Channel (Health And Beauty Stores, Drug Stores, Online Retailing And Others) And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the global Lavandula Oil (Lavender Oil) Market size & share was valued at around USD 845 million in 2022. The market is expected to grow above a CAGR of 5.0% and is anticipated to reach over USD 1201 million by 2030.”
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Lavandula Oil (Lavender Oil) Market Overview:
The technique of steam distillation is used to extract lavender oil from the flowering blooms of Lavandula Officinalis. It originates from the Lamiaceae botanical family, which includes mint. In the Old World, lavender has been used as a fragrance since primordial times. This species of lavender is indigenous to the Himalayan regions close to Kashmir and Himachal Pradesh. It is a plant that is cultivated as an ornamental due to its beautiful colours and enticing fragrance, and it has been used as a traditional medicine in many parts of the world. When people scent it, their anxiety and stress levels are known to decrease. Additionally, it can be used to treat cardiovascular diseases, insomnia, intestinal discomfort, and gastro issues. It is also utilized in the preparation of tea, honey, baked products, and as a meat flavouring.
The exceptionally fragrant and distinct aroma of lavender essential oil soothes the mind and soul. It is frequently used in aromatherapy to treat insomnia, anxiety, and negative emotions. In addition, it is utilized in massage therapy to alleviate pain and reduce internal inflammation. In addition to its soothing aroma, it is anti-bacterial, anti-microbial, and antiseptic. Since it addresses dry and irritated skin, it is also used in the production of products and remedies for acne and skin infections such as psoriasis, ringworm, and eczema. Its astringent and wound-healing properties expedite the healing process and retard the advent of ageing. It is also utilized in hair care products to eliminate dandruff and fortify hair from the roots.
Key Insights from Primary Research
- As per the analysis, the Lavandula Oil (Lavender Oil) market share is likely to grow above a CAGR of around 5.0% between 2023 and 2030.
- The Lavandula Oil (Lavender Oil) market size was worth around US$ 845 million in 2022 and is estimated to hit approximately US$ 1201 million by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The growing use of lavender oil in various end-use industries such as cosmetics, food & beverages, and others is expected to drive market expansion over the forecast period.
- Based on the application, the aromatherapy segment is expected to hold the largest market share in 2022.
- On the basis of region, Europe is expected to dominate the market during the forecast period.
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Competitive Players:
The report contains qualitative and quantitative research on the global Lavandula Oil (Lavender Oil) market, as well as detailed insights and development strategies employed by the leading competitors.
Some of the main players in the global Lavandula Oil (Lavender Oil) market include;
- Givaudan International SA
- Biolandes SAS
- Symrise AG
- Enio Bonchev Production Ltd.
- International Flavours and Fragrances Inc.
- The Lebermuth Company Inc.
- Phoenix Aromas & Essential Oils LLC
- Sydney Essential Oil Co.
- Young Living Essential Oils
- Essential Oils of New Zealand
- Aromaland, Alteya Organics
- China Flavors and Fragrances Company Limited
- doTERRRA International LLC
- NHR Organic Oils
- Takasago International Corporation
- Moksha Lifestyle Products
Lavandula Oil (Lavender Oil) Market: Growth Drivers
- Rising application in aromatherapy boost the market growth
Aromatherapy is a therapeutic procedure that uses natural oils and plant products to promote health and well-being. Lavender oils are used in aromatherapy to increase physical and emotional well-being by promoting the health of the body, mind, and spirit. In India, Egypt, and China, aromatic plant compounds in the form of balms, oils, and resins have been used for medicinal and religious purposes for millennia. The increased demand for aromatherapy can be attributed to a number of factors, including its effectiveness in managing pain, enhancing sleep, and reducing tension, anxiety, and agitation. In addition, a rise in customer sophistication as a result of higher incomes is anticipated to fuel the growth of the Lavandula oil market over the forecast period. Moreover, as the demand for massage and aromatherapy increases, so does the demand for lavender oils to restore the individual's mental, physical, and emotional health.
Lavandula Oil (Lavender Oil) Market: Restraints
- Limited availability of raw materials impedes the market growth
Essential oils are extracted from plants, but their availability is diminishing due to population growth, urbanization, and industrialization. In order to accommodate the expanding population, more trees are being cut down, resulting in deforestation. Concentrated essential oils produce a modest amount. For example, approximately 250 pounds of lavender leaves are required to produce one pound of lavender essential oil. As a consequence, a large number of raw materials are required to produce a small quantity of high-quality essential oils, which inhibits the expansion of the lavender oil market.
Lavandula Oil (Lavender Oil) Market: Segmentation
The global Lavandula Oil (Lavender Oil) industry is segmented based on type, application, distribution channel, and region.
Based on the application, the global market is bifurcated into therapeutics, personal care, aromatherapy, food & beverages, cosmetics, and others. The aromatherapy segment is expected to hold the largest market share in 2022 and is expected to continue the same pattern during the forecast period.
Based on type, the market is distinguished into absolutes, concentrates, and blends. Based on distribution channel, the market is divided into health and beauty stores, drug stores, online retailing, and others.
Regional Analysis:
- Europe is anticipated to lead the market throughout the forecast period
Europe is anticipated to dominate the global Lavandula Oil (Lavender Oil) market during the forecast period due to the cosmetics industry's rising demand for lavender oil. Europe is the largest market for cosmetics and personal care products, as the cosmetics industry has expanded there in recent years. Germany, France, and the United Kingdom are among the industry's most significant nations. From the customer's perspective, essential oils (such as lavender oil) predominantly protect health, boost self-esteem, and enhance well-being.
In contrast, the North American market is expected to grow significantly over the forecast period. Rising acceptance of natural products and awareness of the importance of living a healthy lifestyle in North America are anticipated to fuel market growth in the coming years. The region's high per capita income, favourable tax climate, and government incentives have attracted multinational corporations to establish and expand operations there. The region's growing preference for preventive healthcare is a major factor contributing to the current situation.
Report Scope:
| Report Attribute | Report Details |
| Market Size in 2022 | USD 845 Million |
| Market Forecast in 2030 | USD 1201 Million |
| Growth Rate (From 2023 to 2030) | CAGR of 5.0% |
| Base Year | 2022 |
| Forecast Years | 2023- 2030 |
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Recent Industry Developments:
- In March 2022, Fragrance giant Symrise and the Centre Régionalisé Interprofessionnel d'Expérimentation en Plantes à Parfum, Aromatiques et Médicinales (CRIEPPAM) in France collaborated to develop Symrise's next breed of white lavender plants. The collaboration intends to be certified by 'Plants Sains' for a sustainable supply chain, ensuring traceability, and supplying farmers with healthy lavender plants within three years.
- In February 2022, Givaudan purchased Myrissi in France. Myrissi's AI expertise would help Givaudan recommend novel organoleptic methods to customers, allowing Givaudan's long-term fragrance (including essential oils) and beauty strategy.
The global Lavandula Oil (Lavender Oil) market is segmented as follows:
By Type
- Absolutes
- Concentrates
- Blends
By Application
- Therapeutics
- Personal Care
- Aromatherapy
- Food & Beverages
- Cosmetics
- Others
By Distribution Channel
- Health and Beauty Stores
- Drug Stores
- Online Retailing
- Others
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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FREQUENTLY ASKED QUESTIONS:
What is Lavandula Oil (Lavender Oil)?
Lavender oil is obtained from the extraction of the flowers of lavender. Lavender oil extraction is very tedious work and is distilled in the final stage. Different methods through which the essential oil is obtained include steam distillation, hydro distillation, and solvent extraction. Among all the essential oils lavender oil is the most versatile and expensive one. This product is popular in the cosmetic sector as it is used for fragrance and in the food industry lavender oil is used for flavoring purposes. It also finds applications in the pharmaceutical industry where it is used in therapies.
Which key factors will influence the Lavandula Oil (Lavender Oil) market growth over 2023-2030?
The increasing demand for lavender oil in the current market scenario is due to its flavored eminence and fragrance. The recent trend is that consumers are inclined towards products that are produced naturally, should be organic, and have health benefits thus having an increasing demand from the growing economies of the world. The lavender oil market is in high demand for beauty care and body care products. Body creams, soaps, lotions, perfumes, and many other cosmetic products have high usage of lavender oil.
What will be the value of the Lavandula Oil (Lavender Oil) market during 2023-2030?
According to the report, the global Lavandula Oil (Lavender Oil) market size was worth around USD 845 million in 2022 and is predicted to grow to around USD 1201 million by 2030.
Which region will contribute notably towards the Lavandula Oil (Lavender Oil) market value?
The global Lavandula Oil (Lavender Oil) market growth is expected to be driven by Europe. It is currently the world’s highest revenue-generating market owing to the growing cosmetic and personal care industry.
Key Offerings:
- Full in-depth analysis of the parent market
- Important changes in market dynamics
- Segmentation details of the market
- Former, on-going, and projected market analysis in terms of volume and value
- Assessment of niche industry developments
- Market share analysis
- Key strategies of major players
- Emerging segments and regional markets
- Testimonials to companies in order to fortify their foothold in the market
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