Home Ingredient Lavender oil market demand is predicted to rise at a CAGR of 6.8% from 2024 to 2034

Lavender oil market demand is predicted to rise at a CAGR of 6.8% from 2024 to 2034

by Food Drinks Innovation

According to the latest industry analysis conducted by Fact.MR, a leading provider of market research and competitive intelligence, the global Lavender Oil Market is estimated to be valued at US$ 138.2 million in 2024, with a projected expansion to reach US$ 267.2 million by the conclusion of 2034.

The robust growth in lavender oil sales can be attributed to the increasing consumer awareness of natural, plant-based, and holistic well-being solutions. The market is witnessing a surge in demand for lavender oil, renowned for its natural origin, as it aligns with the prevailing trend in various industries. Lavender oil’s popularity is extending beyond its traditional uses, reflecting a dynamic shift in consumer preferences.

Key Segments of Lavender Oil Industry Research Report
Major market players are expanding their product portfolios by introducing lavender-infused items across cosmetics, skincare, food, and beverages. This strategic move responds to a growing consumer demand for innovative and multifunctional products, appealing to a broader audience.

The incorporation of lavender oil in cosmetics and personal care items, motivated by its soothing properties, is playing a significant role in driving market expansion. Lavender oil is becoming a popular choice in skincare formulations, hair care products, and perfumes, owing to its aromatic qualities and skin-friendly attributes.

Key Takeaways from Market Study

·         Global demand for lavender oil is predicted to rise at a CAGR of 6.8% from 2024 to 2034.

·         The United States lavender oil market is estimated at US$ 15.5 million in 2024.

·         Sales of lavender oil in Japan are projected to increase at a CAGR of 7.8% through 2034.

·         Demand for concentrated lavender oil is forecasted to reach a market value of US$ 102 million by 2034-end.

“Lavender oil’s calming and stress-relieving properties are making it a sought-after ingredient in essential oil blends, which is a key factors driving its consumption,” says a Fact.MR analyst.

Winning Strategy

Leading manufacturers of lavender oil are BMV Fragrances Pvt. Ltd., International Flavors & Fragrances Inc., Lebermuth, Inc., Sydney Essential Oil Co., Young Living Essential Oils, and doTERRA International, LLC. These companies are focusing on product innovations, sustainable practices, and strategic partnerships to maintain their market position and boost revenue shares.

Key market players are also utilizing strategic partnerships to strengthen their market presence, expand distribution networks, and ensure a steady supply of high-quality lavender oil.

Competitive Landscape

In the competitive landscape of lavender oil, leading companies are expanding their product portfolios to cater to a range of industries. They are innovating by introducing lavender oil-infused products tailored for cosmetics, personal care, aromatherapy, and culinary applications. This diversification strategy allows key market players to reduce dependence on a single market segment and explore multiple revenue streams.

Furthermore, major companies are actively engaging in strategic partnerships and collaborations with various stakeholders, including lavender farmers, distributors, and retailers. These alliances play a crucial role in enhancing the overall efficiency of the supply chain, optimizing distribution processes, and extending market reach. Ultimately, these collaborative efforts contribute significantly to achieving high revenue growth in the lavender oil market.

The increasing consumer inclination towards natural and organic products in the United States is a major catalyst for the growing sales of lavender oil. As consumers actively seek healthier alternatives, the perceived natural remedies and fragrant qualities of lavender oil contribute significantly to its escalating demand.

The prevailing wellness and aromatherapy trends in the United States are pivotal factors propelling lavender oil sales. The stress-relieving properties of lavender oil resonate with the holistic wellness approach, leading to its incorporation in a diverse range of products, spanning skincare to aromatherapy blends.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global lavender oil market, presenting historical demand data for 2018 to 2023 and forecast statistics for 2024 to 2034.

The study divulges essential insights on the market based on form (absolutes, concentrates, blends), application (aromatherapy, food & beverages, therapeutics, personal care, cosmetics, others), and distribution channel (B2B, B2C), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).

These insights are based on a report on Lavender Oil Marketby Fact.MR.

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