Essential oils are an essential part of not just the world of cosmetics, but also food and beverages. Well known for their flavor and fragrance, essential oils are widely consumed as they offer several health benefits. Today, essential oils are used for enhancing the food supplements and promoting good health. Oleoresins are a combination of resins and essential oils that are artificially created by evaporating the solvents that are used in their production processes. On the other hand, balsams are the naturally occurring oleoresins.
Increasing Number of Health-conscious Population to Drive Overall Market
According to research analysts, the global essential oils and oleoresins market is expected to grow at a steady pace in the coming four or five years. The factors responsible for this growth rate will be the growing number of health-conscious consumers. Furthermore, the market will also be propelled by increasing number of consumers opting for natural food ingredients. However, the global essential oils and oleoresins market will be hampered due to expensive nature of these items.
Beverage Segment to Lend Impetus to Global Essential Oils and Oleoresins Market
Essential oils and oleoresins are used for making confectionary, beverages, savory and nutraceuticals. Out of all these, the beverage segment leading the overall market as it has been contributing the highest revenues. Analysts predict that this segment will continue to dominate in the coming years as well.
India Emerges as the Leading Country in the Global Market
On the basis of geography, this market is segmented into Greater China, India, the rest of the Asia Pacific, ASEAN, Australia and New Zealand. Of all these counties, India is anticipated to dominate the essential oils and oleoresins market. This region will be closely followed by China due rising disposable incomes and improving purchasing powers.
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