ACCESSWIRE

Key Players to Observe Rapid Sales of Essential Oils and Oleoresins as Innovations in the Food and Beverage Sector Continue to Rise | Future Market Insights, Inc.

ACCESSWIRE · Future Market Insights, Inc.
Future Market Insights, Inc.
7 min read

The demand for essential oils and oleoresins in Japan is expected to grow at a 4.2% CAGR over the next decade. Japanese companies are targeting international consumers with essential oils for aromatherapy, wellness, and baths. The rising preference for natural ingredients among Japanese consumers is creating significant opportunities for industry players. Additionally, the increasing use of oleoresins as perfumes or flavors in cosmetics, soaps, and food products is driving their growth in Japan.

NEWARK, DE / ACCESSWIRE / July 15, 2024 / The Asia Pacific essential oil and oleoresin industry value is expected to rise from USD 19,189.1 million in 2024 to USD 25,329.6 million by 2034. This industry is analyzed to expand at a CAGR of 3.2% over the next decade.

Growing demand for essential oils from multiple sectors like food and beverage, aroma therapies, spas, wellness, cosmetics, cleaning, medicines, etc. is increasing the industry size in the Asia Pacific. Among the given sectors, spa and relaxation are projected to gain significant traction in the onward years.

Increasing consumer interest in natural cosmetic products is propelling the use of essential oil solutions in the region. The latest wave of "nourishing skin with oil" extends from facial care to encompass body care, thus creating an ocean of opportunities for local as well as international players in the region.

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Continuous innovations in the food and beverage sector in terms of flavor and taste to intrigue more customers are predicted to be key propellers of essential oil and oleoresin industry.

"Key players are expected to collaborate with local distributors to expand their reach in target industries," says Nandini Roy Choudhury, Client Partner at Future Market Insights.

Key Takeaways from the Asia Pacific Essential Oil and Oleoresin Industry Report

  • The Asia Pacific essential oil and oleoresin industry attained a valuation of USD 16,886.4 million in 2019. In the historical period, the industry reported a CAGR of 2.4% till 2023.

  • The food and beverages segment, based on application, is expected to account for an industry share of 43.6% in 2024.

  • By distribution channel, the indirect sales amass a massive industry share of 68.3% in 2024.

  • India's essential oil and oleoresin industry is predicted to expand at a 5.4% CAGR over the forecast period.

  • Japan's industry is assessed to expand at a 4.2% CAGR from 2024 to 2034.

  • The industry in China is anticipated to rise at a 3.4% CAGR over the next 10 years.

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