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.
Competitive Strategies
Key players in the Asia Pacific essential oil and oleoresin industry invest in research and development activities to deliver consumer-oriented and more convenient solutions to industry verticals. Players, especially new ones, are collaborating with distributors and resellers to increase their sales in the countries they are targeting.
Industry participants are increasing their production volume by setting up more plants with extended capacity to meet the surging essential oil and oleoresin demand. Players in the cosmetics and personal care sector are launching innovations in the mist spray and shower oil categories that combine the benefits of plant essential oils and oleoresins.
Start-ups in the Asia Pacific Essential Oil and Oleoresin Industry
Rafbrix Essentials, based in India, is a forward-thinking manufacturer of 100% herbal extracts and natural curcumin dedicated to offering high-quality products for the health, nutraceutical, food, pharmaceutical, and cosmetic industries.
Ajmal Biotech Pvt Ltd. is an India-based manufacturer of natural isolates, natural essential oils, and natural essential oils. The company follows ethical business practices and provides a qualitative product range. Their competitive prices and vast distribution networks surge their sales in the price-sensitive economies of Asia Pacific.
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Top Companies in the Asia Pacific Essential Oil and Oleoresin Industry
doTERRA International LLC
Mountain Rose Herbs, Inc.
Synthite Industries Ltd.
Clarion Casein Ltd.
Universal Oleoresins Private Limited
Young Living Essential Oils LC
Natures S.A
Alchem International Ltd.
Indena S.p.A
Kancor Ingredients Ltd.
Others
Asia Pacific Essential Oil and Oleoresin Industry by Categories
Essential Oils and Oleoresin Industry by Type:
Black Pepper
Cardamom
Capsicum
Turmeric
Cinnamon
Others
Various Applications of Essential Oils and Oleoresins:
Food and Beverages
Confectionery
Pharmaceutical
Cosmetics and Personal Care
Others
Bifurcation of Essential Oils and Oleoresins Industry by Distribution Channels:
Direct Sales
Indirect Sales
Different Native Industries of Essential Oils and Oleoresins in Asia Pacific:
India
China
Japan
Others
Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor's Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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