Lavender Oil Market Overview
Lavender oil market is poised to witness a CAGR of 7.3?tween 2021 and 2031, reaching more than US$ 100 Mn by the year 2031.
Lavender plant gives a type of essential oil known as “lavender oil”. The intake could be in the form of lavender oil capsule, lavender oil tablet, or through aromatherapy.
Lavender oil is beneficial for the skin in several ways. For instance – it’s able to lessen acne and wrinkles. Research states that it helps in digestion and improving the quality of hair as well. The basic functionality of lavender oil is that of unclogging pores and reducing inflammation on being put on skin. It cures acne better on diluting with coconut oil/any other carrier oil and apply it to skin post facewash.
Two drops of lavender oil could be mixed with a teaspoon of witch hazel to act as skin toner. Application of a drop of argan oil and lavender oil twice a day could help in getting away with pimples.
These days, lavender oil (lavandula oil) is also used as a mosquito repellant.
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How about Curing Dry Skin and Eczema?
Eczema results in the skin getting itchy, dry, and scaly. It could be chronic or mild. As lavender is known for having antifungal properties, it helps in preventing eczema. Lavender oil is also known for treating psoriasis as it helps in cleansing the skin. 2 drops of coconut oil, tree oil, and lavender oil need to be applied to the skin for curing eczema.
Thus, it could be inferred that the lavender oil market has made a beeline to the therapeutics vertical, and ultimately pharmaceuticals.
What’s with Food & Beverage and Cosmetics Verticals?
Lavender oil is witnessing an increasing demand by the cosmetics vertical. As such, personal care products find an increasing presence of lavender oil. They, in fact, hold more than 30% of the lavender oil market scope. They include lotions, perfumes, body creams, soaps, and likewise. As far as the food & beverages vertical is concerned, lavender oil is used in dairy products, tea, and jellies.
With Europe and North America?
Europe holds the largest market share, wherein Bulgaria leads from the front. This could be credited to abundance of lavender plant. North America holds a notable market share in terms of consumption. This scenario is expected to remain the same even in the forecast period.
Living on the Competitive Edge
The key participants in lavender oil market include doTERRA International, LLC, Rocky Mountain Soap Co., International Flavours & Fragrances Inc., China Flavors and Fragrances Company Ltd., Takasago International Corporation, Young Living Essential Oils LLC, Firmenich SA, Symrise AG, Givaudan SA, Aromaland Inc. and likewise. The market is also subject to various developments. For instance – Young Living Essential Oils, in July 2019, did announce acquiring Nature’s Ultra (supplier of CBD products) to widen its product portfolio.
The essential oils market, with lavender oil, in particular, is bound to grow by leaps and bounds in the forecast period. In other words, lavender oil market forecast is such that people’s inclination towards organic components in various verticals like food & beverage, cosmetics, medicines ought to take the lavender oil market at a higher pedestal in the upcoming period.
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