Cedarwood Oil Market by Technique (Steam Distillation, Carbon dioxide Distillation, and Cold Press), End Use (Cosmetics & Skincare, Toiletries, Aroma Therapy, and Others) and Industry (Spa & Relaxation, Pharmaceuticals, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030
The global cedarwood oil market size was valued at $303.8 million in 2020, and is projected to reach $587.3 million by 2030, registering a CAGR of 6.6%, from 2021 to 2030. Cedarwood oil is an essential oil extracted from leaves, berries, needles, and barks of cedar trees. There are various types of cedars such as eastern red cedar, eastern white cedar, Spanish cedar, Alaskan yellow cedar, and western red cedar. The most popular type of cedar is the eastern red cedar, popularly known as the Juniperus Virginiana L. and it is an evergreen conifer.
Rise in demand for natural and organic products in Europe and North America is presenting a strong potential of growth for cedarwood oil manufacturers. Increase in consumer awareness regarding health benefits and benefits of sustainable products on the environment have spiked demand for organic products. According to the U.S. Organic Trade Association, in 2020, the U.S. has witnessed a record high sale of organic food and non-food products and this trend is expected to grow in the future. Hence, the demand for organic cedarwood oil is estimated to witness a huge spike during the forecast period.
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The outbreak of the COVID-19 pandemic had a neutral impact on the cedarwood oil industry. However, lockdown measures implemented by governments resulted in non-operation of production facilities, disruptions in supply chain, and decline in exports-imports. China is among the top suppliers of cedarwood oil and the origin of the COVID-19 in China hampered the import of cedarwood oil in European countries. On the other hand, medicinal benefits of cedarwood oil have resulted in a spike in demand in North America and Europe. Thus, there has been a neutral or very low impact of the COVID-19 on the cedarwood oil market.
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The market is segmented on the basis of technique, end use, industry, and region. By technique, the market is segregated into steam distillation, carbon dioxide distillation, and cold press. On the basis of end use, it is categorized into cosmetics & skincare, toiletries, aroma therapy, and others. Depending on industry, it is segmented into spa & relaxation, pharmaceuticals, and others. Region wise, the cedarwood oil market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, the Netherlands, Spain, Austria, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Region wise, North America dominated the market, accounting for 37.5% of the cedarwood oil market share in 2020. U.S. is the leading producer and consumer of cedarwood oil in the globe. Increase in consumer awareness regarding availability of cedarwood oil, increase expenditure on health and wellness, and rise in prevalence of various skin and mental disorders are the major factors that boosts growth of the cedarwood oil market in the region.
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Table Of Content:
CHAPTER 1:INTRODUCTION
1.1.Report description
1.2.Key benefits for stakeholders
1.3.Research methodology
1.3.1.Primary research
1.3.2.Secondary research
1.3.3.Analyst tools and models
CHAPTER 2:EXECUTIVE SUMMARY
2.1.Key findings of the study
2.2.CXO perspective
CHAPTER 3:MARKET OVERVIEW
3.1.Market definition and scope
3.2.Key findings
3.2.1.Top investment pockets
3.3.Porter’s five forces analysis
3.4.Top Impacting Factors
3.5.Parent-Peer Market Outlook
3.6.Market dynamics
3.6.1.Drivers
3.6.1.1.MLM significantly impacts revenue generation
3.6.1.2.Surge in application in aromatherapy
3.6.1.3.Surge in demand for natural products…….continue
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The major players operating in the global cedarwood oil market are Essential Oils, Finetech Industry Limited, Foreverest Resources Ltd., Grayden Industries, Inc., Mother Herbs (P) Ltd., Orchid Chemical Supplies Ltd., Venus Enterprises Limited, A.G. Industries, Falcon Essential Oils, and SVA Organics.
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