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According to a market report by Lucintel, the future of the essential oil based flavour and fragrance market looks promising with opportunities in the fine fragrance, cosmetic & toiletry, soap & detergent, and aromatherapy end use industries. The global essential oil based flavour and fragrance market is expected to reach an estimated $40.3 billion by 2028 with a CAGR of 4% from 2023 to 2028. The major drivers for this market are increasing consumption of processed food and personal care & cosmetic products and growing demand for natural and organic ingredients in the emerging economies.



In this market, orange essential oil, corn mint essential oil, eucalyptus essential oil, pepper mint essential oil, lemon essential oil, citronella essential oil, patchouli essential oil, clove essential oil, ylang ylang/canaga essential oil, and lavender essential oil are the major segments of essential oil based flavour and fragrance market by end use. Lucintel forecast that orange essential oil will witness the highest growth over the forecast period as it is highly used in the food and beverage industries to add a natural orange flavor to beverages, sweets, desserts, and various bakery and confectionary items.



Within this market, fine fragrance is expected to remain the largest segment due to the increasing adoption of natural products by manufacturers to deliver a better quality to their products.



APAC will remain the largest region due changing lifestyles and rapid economic expansion in countries like India, China, Vietnam, and Indonesia.

ADM, Agilex Fragrance, Akay Flavors & Aromatics, Alpha Aromatics, BASF SE, Bell Flavors & Fragrance, Biolandes, Comax MFG Corp, doTERRA International, and Elevance Renewable Sciences are the major suppliers in the global essential oil based flavour and fragrance market.  



Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global essential oil based flavour and fragrance market by product, end use, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Essential Oil based Flavour and Fragrance Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global essential oil based flavour and fragrance market by product, end use, and region, as follows:

 

This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com.

 

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

 

Q.1. What are some of the most promising, high-growth opportunities for the global essential oil based flavour and fragrance market by product (orange essential oil, corn mint essential oil, eucalyptus essential oil, pepper mint essential oil, lemon essential oil, citronella essential oil, patchouli essential oil, clove essential oil, ylang ylang/canaga essential oil, and lavender essential oil), end use (fine fragrance, cosmetics & toiletries, soaps & detergents, aromatherapy, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last five years and what has its impact been on the industry?