U.S. is the most prominent market in North America, and is projected to reach $37,093.8 thousand by 2031, growing at a CAGR of 5.2% during the forecast period
PORTLAND, OREGON, UNITED STATES, September 29, 2023 /EINPresswire.com/ — The geranium oil market was valued at $73,835.10 thousand in 2020, and is estimated to reach $136,595.10 thousand by 2031, growing at a CAGR of 6% from 2022 to 2031.
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Aromatherapy has increased the use of essential oils as a potential therapeutic agent for massage, inhalation, and bathing. Increase in public awareness about the benefits of aromatherapy as a result of consumers’ growing interest in the natural care and getting back to nature will spur the creation of natural/organic components with healing properties. Geranium oil is a concentrated extract made from the leaves, herbs, and barks of the geranium plant. These are the volatile, aromatic essences of plants that have flavorful properties, making them useful in food and beverage, flavor and fragrance, cosmetics & personal care, home care & cleaning, and other applications. Consumers have become increasingly interested in natural products as alternatives to artificial additives or pharmacologically relevant chemicals in recent years. Essential oils have gained high traction in the food, cosmetics, and pharmaceutical industries.
One of the major drivers of the global geranium oil industry is the growing popularity of aromatherapy products. In addition, the increased demand for aromatherapy products is driven by convenience and cost. Moreover, the popularity of aromatherapy goods within the middle-income group is fueled by rise in disposable income in developing countries. Furthermore, health benefits of aromatherapy are growing the demand for home use, thus contributing toward the geranium oil market growth.
The market for geranium oil is quickly approaching the pre-COVID stages, due to economic recovery in most emerging economies, and a stable growth rate is envisaged throughout the forecast period. Unusual situations, on the other hand, depict a bleak picture as a result of the anticipated third and subsequent waves. For decades, geranium oil has been used to cure a variety of ailments, including anxiety, sadness, infection, and pain management, owing to its antibacterial, antioxidant, and anti-inflammatory properties. These factors are projected to boost geranium oil consumption after the COVID-19 prediction period.
Market Key Players:
The players operating in the geranium oil market have adopted product launch and business expansion as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Firmenich SA, A. G. Industries, Mother Herbs (P) Ltd, Ultra International B.V., Floral Essential Oil, Berjé Inc., De Monchy Aromatics, Visagenics Premium Essential Oils, SVA Organics, and NOW Foods.
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Market Segmentation
The geranium oil market is segmented into nature, application, sales channel, and region. On the basis of nature, the market is categorized into organic and conventional. By application, it is segregated into aromatherapy, cosmetics & personal care, flavor & fragrance, and others. Depending on the sales channel, it is categorized into B2B suppliers, hypermarkets/supermarkets, specialty stores, and online retail. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, the Netherlands, and the rest of Europe), Asia-Pacific (China, Japan, Australia, South Korea, India, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Egypt, South Africa, United Arab Emirates, and rest of LAMEA).
On the basis of nature, the organic geranium oil segment was valued at $11,864.3 thousand in 2020 and is expected to reach $23,434.2 thousand by 2031 at a CAGR of 6.6%. This is majorly attributed to increase in demand for pesticide-free, clean label, and natural products from consumers. Moreover, organic geranium oil is made from geranium plants that have been grown in soil that is free of pesticides, fungicides, herbicides, and synthetic fertilizers as well as containing no genetically modified organisms (GMOs), which fuel its demand across the globe .
By application, the aromatherapy segment is expected to grow at a CAGR of 5.9% in global geranium oil market forecast. People are significantly opting for aromatherapy as a traditional and holistic treatment to maintain health and well-being, which is expected to generate demand for various essential oil products, including geranium oil. Aromatherapy is a holistic healing technique that promotes health and well-being by using natural plant extracts.
On the basis of sales channel, the B2B suppliers’ segment was valued at $67,797.0 thousand in 2020 and is expected to reach $1,24,149.8 thousand by 2031 at a CAGR of 5.9%. B2B sales typically have higher order values, longer sales cycles, and are often more complex than B2C sales. In B2B sales, geranium oil is available in reasonable price compared to B2C and it is sold in a bulk quantity that makes it more attractive segment in the sales channel. Due to wide application of geranium oil in aromatherapy, cosmetics & personal care, flavor & fragrance, and pharmaceuticals industries, the demand is huge compared to B2C. Thus, B2B sales of geranium oil have accounted for a significant share in the global geranium oil market as it is a commercially used product in various end-use sectors.
In terms of region, in 2020, Europe garnered a share of 34.8% in the geranium oil market size, and is anticipated to dominate during the forecast period. The market is growing due to a strong need for preventative healthcare, healthy lifestyles, and a willingness to maintain an elegant appearance among people of all ages and genders in the region. Furthermore, easy availability of a wide range of essential oils, including geranium oil, in Europe is expected to drive geranium oil market demand.
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Key findings of the study
By nature, the organic segment is estimated to witness the fastest growth, registering a CAGR of 6.6% during the forecast period.
On the basis of application, the aromatherapy segment held the highest share of 41.5% in 2020, growing at a CAGR of 5.9% during the forecast period.
In 2020, depending on sales channel, the B2B segment was valued at $67,797.0 thousand, accounting for 91.8% of the global geranium oil market share.
Geranium oil market analysis shows that, In 2020, the U.S. was the most prominent market in North America, and is projected to reach $37,093.8 thousand by 2031, growing at a CAGR of 5.2% during the forecast period.
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Originally published at https://www.einpresswire.com/article/658547283/geranium-oil-market-set-to-achieve-a-valuation-of-us-136-595-10-thousand-riding-on-a-6-cagr-by-2031
The post Geranium Oil Market Set to Achieve a Valuation of US$ 136,595.10 Thousand, Riding on a 6% CAGR by 2031 first appeared on Beauty Ring Magazine.
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