Lavender Extracts Market Share, Revenue, Opportunity, Forecast and Value Chain 2027

 

The global lavender extracts market is projected to exhibit a CAGR of 5.38% during the forecast period of 2021 to 2028.

Market Research Futurehas recognized the following companies as the key players in the global lavender extracts market: Ultra International B.V. (Netherlands), Biolandes SAS (France), Essential oils and herbs Ltd. (Bulgaria), Galen-N (Bulgaria), Frey + Lau GmbH (Germany), Lavender Oil Bulgaria (Bulgaria), Bontoux SAS (France), BMV Fragrances Pvt. Ltd. (India), Norex Flavours Private Limited (India), and K. K. Enterprise (India).


Market Highlights


The global lavender extracts market is projected to be valued at USD 337.9million by 2028, recording a CAGR of 5.38% during the forecast period. The growth of the lavender extracts market share is anticipated to be driven by several factors during the forecast period from 2021 to 2028. Lavender extractsare natural andcan primarily be found in the form of essential oils. These are produced by distillation and have the characteristic fragrance of the lavender plant. Essential oils are also known as volatile oils, ethereal oils, and Aetherolea. There are different types of extraction techniques, such as extraction by distillation or by using steam, solvent extraction, absolute oil extraction, resin tapping, and cold pressing. Lavender extracts are usually used to produce perfumes, soaps, cosmetics, air fresheners, and other products. Its application in pharmaceutical products is increasing due to its antibacterial, antifungal, antiviral, and antimicrobial characteristics.


Worldwide lockdown due to the outbreak of COVID-19 has affected the farming practices, which has highly impacted the supply of the raw materials required to extract essential oils. This has led to the increased prices of raw materials for the manufacturers of lavender extracts. Moreover, the COVID-19 impact on logistics is also expected to contribute to the increased prices of raw materials. With barriers in the cross-border transportation of commodities in this pandemic situation,the manufacturers are highly dependent on local raw materialsuppliers, which increases the bargaining power of the suppliers. Thus, the increased raw material prices would lead to an increased price of lavender extracts in the next couple of years.


Access full report @ https://www.marketresearchfuture.com/reports/lavender-extracts-market-10605


Segmental Analysis

The global lavender extracts market has been segmented based on form, category, application, and region.

By form, the global lavender extracts market has been divided into powder and oil. The oil segment accounted for the largest market share in 2020.The demand for essential oil extracts is increasing due to several factors. The use of the oil form of lavender extracts is increasing in the food industry as they are stable, contamination-free, and clean. Additionally, oil extracts can be easily standardized by blending with different products. They are widely used to producearomatherapy products.


Based on category, the global lavender extracts market has been segmented as organic and conventional. Between the two, the organic segment is projected to exhibit ahigher CAGR of 5.62% during the forecast period. Lavender grown in an organic environment i.e., without the use of synthetic fertilizers are used to produce lavender extracts. Increasing demand for clean label ingredients are majorly aiding to the growth of organic lavender extracts market across the globe.

 

Based on application, the global lavender extracts market has been segmented into food and beverages, personal care, pharmaceutical, and aromatherapy. The aromatherapy segment accounted for the largest market share in 2020. The personal care segment captured the second largest market share in the same year.The fragrance from lavender extracts used in aroma therapy is believed to help promote calmness and wellness. Lavender extracts in aromatherapy also helpsto reduce stress, anxiety, and possibly even mild body pain. In food & beverages, lavender extracts are used as flavoring agents and even preservatives in bakery & confectionery, dairy & frozen desserts, and sauces, dressings, and other food products. Therefore, wide applications of lavender extracts in culinary, cosmetics, supplements, and aromatherapy are boosting the market growth across the globe.


Regional Analysis

Geographically, the global lavender extracts market has been categorized as North America,Europe, Asia-Pacific,and the Rest of the World. As per MRFR analysis, Europe constituted a dominant share of the lavender extracts market in 2020. Improvements in the lifestyles of the consumers prompt them to consume clean label products, which is fueling the growth of the regional market. Additionally, consumers have now become conscious regarding the ingredients that are used in daily products, such as personal care and aroma products, which in turn is positively impacting the growth of the lavender extracts market in Europe. Also, the market in Asia-Pacific offers lucrative opportunities for manufacturers of lavender extracts owing to high spending on R&D by market players in the region. The key manufacturers in North America emphasize promotional activities to create strong awareness among consumers regarding new products. Furthermore, innovations in lavender extract products are accelerating the growth of the North American market.The Middle East & Africalavender extracts market isprojected to register a slow growthduring the forecast period.Limited advancements in technology and low per capita spending capacity of the population in Africa are curbing the regional market growth.


Key Findings of the Study:

  • The global lavender extracts market is projected to register a growth rate of 5.38%from 2021 to 2028.
  • The oil segment is estimated to retain its prominent share till 2028 and is also projected to record the highest CAGR of 5.62% during the forecast period.
  • The conventional segment accounted for the larger market share in 2020, whereas the organic segment is estimated to register a higher growth rate during the forecast period.
  • The aroma therapy segment is estimated to retain its dominant share till 2028, where as the personal care segment is estimated to register a highest growth rate during the forecast period.

NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

 

Comments

Post a Comment

Popular posts from this blog

Organic Soybean Market value, Share, Size, Competition Landscape, Manufacturers Analysis and Future Opportunity Outlook – 2027

  Overview: The global organic soybean market is touted to reach a total market valuation of USD 2210.53 million by 2022. A stellar CAGR of 17.71% the organic soybean market is about to achieve during the forecast period. Market Research Future (MRFR) in their report on the organic soybean market includes soybeans high nutritional value as a significant market contributor. Furthermore, with people growing health conscious all around, healthy chemical-free products are gaining traction both as human consumables and animal feed. This is playing a crucial role in giving a head start to an organic soybean market. At the same time, apart from being a much-desired food component, personal care & cosmetic, pharmaceutical, and other sectors are also opening up a market opportunity for organic soybean.    On the flip side, price volatility of such products can always become a challenge for smooth market growth during the forecast period. Price of grains is varying much d...
Read more

North America and Europe Smart Kitchen Appliances Market Outlook, Key Trends, Demand and Forecast to 2028

The North America and Europe smart kitchen appliances market is expected to exhibit steady growth over the forecast period due to the growing consumer inclination towards the use of wireless connectivity for kitchen-based applications. This information comes from the latest research report from Market Research Future (MRFR). The MRFR report provides a comprehensive overview of the smart kitchen appliances market’s historical growth trajectory in North America and Europe, elaborating upon the major drivers and restraints affecting the market. The immediate economic environment of the smart kitchen appliances market is also studied in the report in order to provide readers with pointers as to how major macroeconomic and microeconomic factors impact the smart kitchen appliances market. The leading players operating in the North America and Europe smart kitchen appliances market are also studied in the report to provide readers with a clear picture of the competitive landscape of the marke...
Read more

Semolina Market Growth Outlook, Segments Share Analysis, Market Scenario Forecast 2020-2027

  Market Forecast Global Semolina Market size is projected to be valued at USD 2,260.09 Million by 2026 at a CAGR of 2.3% between 2020 and 2026. Semolina is a coarse flour made from either wheat, rice, or corn. It is used as part of both sweet and savory foods, has high nutritional content, and offers a healthy choice for the health-conscious population. The demand for semolina is increasing with the rising consumption of wheat products. Semolina is the main ingredient in several fast food products such as pasta, noodles, and breakfast cereals. The high consumption of these products has propelled the demand for semolina across the globe. Furthermore, semolina is inexpensive and is easily available to consumers belonging to all social-economical groups. Also, the gluten-sensitive population can opt for rice-based semolina. These benefits are likely to drive the demand for semolina market growth during the forecast period. Market USP High nutritional content Growth Oppor...
Read more