Global Herb Oil Market, by Product Types (Basil, Mint, Thyme, Dill, and Others), By Application (Personal Care & Cosmetic, Food & Beverages, Pharmaceutical, Aromatherapy, Industrial, And Others), by Sales Channel (Specialty Store, Modern Trade, Drug Stores, Online Store, And Other Sales Channel), by Extraction Mode (Distillation, Solvent Extraction, Cold Pressing, And Others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a promising CAGR for the period between 2019 and 2027.
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As per the report, the chemical formulated medications have both positive and negative effect on human body. As a result, many humans have been tested positive for such chemical compounds. As an alternative to such fast yet toxic medication, the herb oils are gaining popularity in this scenario. The switch of chemical-based treatment to organic and botanical based treatment is driving herb oil market, globally. The herb oils may be referred as the viscous concentration of natural compounds that are being extracted from the barks, leaves, seeds, and etc.
Increasing health consciousness and developing consumer focus towards healthy lifestyle and towards organic and natural products and solutions are some of the major factor which are expected to drive the growth of herb oil market around the globe. Also, increasing demand of herb oil mainly in the food and beverages industry is expected to propel the growth of market during the forecast period. However, the growing applications of herb oils in skin therapy, spa, and relaxation along with the processing/preparation of food products is also laying positive effect on this market.
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Furthermore, Meridian Market Consultants (MMC) Study identifies that, in terms of regional segmentation, market is segmented into six regions i.e. North America, Latin America, Asia Pacific, Europe, Middle East, and Africa. In terms of revenue, North America region is expected to dominate the market mainly due to the increasing demand of herb oil in personal and cosmetic industry. Thyme product type segment of herb oil is gaining popularity in healthcare & pharmaceutical industry and healthcare manufacturers are introducing new products in the market which is expected to increase demand for herb oil in Europe region. Asia Pacific herb oil market is expected to be the most dominating market throughout the forecast period. Availability of key players and increasing application of herb oils in both religious and healthcare use in this region are some of the revenue-boosting factors.
MMC Study identifies some of the key participating players in herb oil market globally are Biolandes SAS, China Flavors & Fragrances Co. Ltd., Citrus and Allied Essences Ltd., doTERRA International, LLC, Enio Bonchev Production Ltd., Givaudan SA, International Flavors & Fragrances Inc., Symrise AG, The Lebermuth Co., Inc. and Young Living Essential Oils LC. and others.
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