Global Demand for Essential Oils to See Robust Growth Through 2023, Predicts MRFR in Its In-Demand Report Recently Added at MarketPublishers.com

London, United Kingdom, September 01, 2017 --(PR.com)-- Today, the US, China and India are the key producers, consumers and also exporters of essential oils across the globe. During 2017-2023, the highest growth is predicted in the Indian essential oils market. Meantime, the US market is expected to increase at a 6.08% CAGR through 2023 encouraged by ongoing advancements in processing technologies. China and Indonesia are amid the most rapidly increasing essential oils markets.

The global demand for essential oils is gaining momentum at a rapid pace especially in developing countries such as China and India owing to escalating awareness about health benefits provided by essential oils along with constantly improving economic conditions.

Presently, the fragrance and flavor sector takes lead in the overall essential oils market with a share of over 40%. Meanwhile, the highest growth pace in the years ahead is anticipated in the aromatherapy sector. Globally, the usage of essential oils in the cosmetics industry is poised to increase at a 5.76% CAGR over 2017-2023 to go beyond USD 1.95 billion.

The worldwide market for essential oils is anticipated to gather momentum at a 5.92% CAGR over 2017-2023 and exceed USD 18.95 billion by late 2023. APAC is projected to keep the dominant position in the global market during the forecast period, fueled by the elevating demand for natural cosmetics products, enhancing awareness and expanding adoption of innovative essential oils solutions across different applications.

A detailed analysis of the essential oils market landscape, performance and dynamics is available in the in-demand research report “Global Essential Oil Market - Trends & Forecast, 2017-2023” (available at https://goo.gl/ibP7Xm) worked out by Market Research Future (MRFR) and recently added at MarketPublishers.com. This report is an essential source of updated market data and future forecasts.

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