How big is the essential oil market in India?

The latest report by IMARC Group, titled “India Essential Oil Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” offers a comprehensive analysis of the industry, which comprises insights on the Indian essential oil market report. The report also includes competitor and regional analysis, and contemporary advancements in the market.  The India essential oil market size reached US$ 159.7 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 247.1 Million by 2028, exhibiting a growth rate (CAGR) of 7.74% during 2023-2028.

Essential oil refers to a liquid extract that is generally obtained from various plants utilized for relieving headaches and promoting relaxation. It is prepared by pressing or steaming various parts of the plant, such as fruits, barks, leaves or flowers, in order to obtain compounds that produce fragrance. It is widely available in India in multiple variants that differ on the basis of scents and quality, generally ranging from pure to diluted essential oils.

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India Essential Oil Market Trends:

The market in India is primarily driven by the increasing product demand for medical applications. Moreover, the growing popularity of aromatherapy among the masses due to the stressful lifestyle led by working professionals is creating a positive market outlook. Additionally, the escalating utilization of essential oils in the formulation of cosmetics and personal care products is providing a boost to the market. Along with this, several leading players are heavily investing in the launching of essential oil-infused sanitizers on account of the rapid outbreak of coronavirus disease (COVID-19), which is gaining widespread prominence among individuals across the country.

Apart from this, continuous improvements in the e-commerce infrastructure and the advent of home delivery models are considered to be major growth-inducing factors. Other factors, including the rising adoption of aroma diffusers and pots, the augmenting product utilization in the food and beverage sector, and the implementation of aggressive marketing strategies and innovative packaging solutions, are also favorably influencing the market growth across India.

India Essential Oil Market 2023-2028 Analysis and Segmentation:

Breakup by Product:

• Cedarwood Oil
• Eucalyptus Oil
• Lavender Oil
• Lemongrass Oil
• Rosemary Oil
• Tea Tree Oil
• Ylang Ylang Oil
• Others

Market by Application:

Medical

• Pharmaceutical
• Nutraceuticals

Food and Beverages

• Bakery and Confectionery
• Beverages
• Meat, Poultry and Seafood
• Others

Spa and Relaxation

• Aromatherapy
• Personal Care
• Cosmetics
• Toiletries
• Others

Cleaning

• Kitchen Cleaners
• Floor Cleaners
• Bathroom Cleaner
• Others

Others

By Sales Channel:

• Offline Stores
• Online Stores

Breakup by Region:

• North India
• West and Central India
• South India
• East India

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Key Highlights of the Report:

• Market Performance
• Market Outlook 
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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