Massoia Bark Essential Oil Market by End Use, Nature, Product Division, Application, Grade & Region | Forecast 2023 to 2033
The primary driver fueling the growth of the Massoia Bark Essential Oil market is the various end use applications it has. Explore more Growth Trends with FMI Team!
Massoia Bark Essential Oil Market Outlook from (2023 to 2033)
The global Massoia Bark Essential Oil market is expected to reach a market valuation of US$ 828.6 million by 2023, recording a CAGR of 3.6% from 2023 to 2033.
A natural product made from the bark of the Massoia tree is massive bark essential oil. It has been employed in conventional medicine to treat a number of ailments, such as stress, depression, and anxiety. The oil can either be inhaled or applied topically to the skin to achieve this. This is helpful for people who want to employ a natural remedy to address ailments without suffering from drug-related adverse effects.
The leaves and twigs of Massoia trees, which are native to Indonesia's Moluccan Islands, are used to make the essential oil known as massoia bark. The oil combines well with other oils and has a woodsy scent with fruity overtones. It is used in aromatherapy because it aids in encouraging deep sleep and easing symptoms of tension, anxiety, and pain. Moreover, this enhances blood flow.
In our new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights into key factors driving demand for Massoia Bark Essential Oil.
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How Has the Market Progressed So Far in 2022?
Market Statistics
Details
Jan–Jun (H1), 2021 (A)
4.5%
Jul–Dec (H2), 2021 (A)
4.3%
Jan–Jun (H1),2022 Projected (P)
4.8%
Jan–Jun (H1),2022 Outlook (O)
5.4%
Jul–Dec (H2), 2022 Projected (P)
5.3%
Jul–Dec (H2), 2022 Outlook (O)
5.1%
Jan–Jun (H1), 2023 Projected (P)
5.0%
Historic v/s Future Outlook Comparison for Massoia Bark Essential Oil?
The distinctive aroma of massoia bark, which is used in gourmand perfumes, oriental bouquets, valuable woods notes, tropical perfumes, and incense bouquets, is one of the market's major development drivers. The market for massoia bark essential oil is expanding as a result of the rapidly expanding fragrance industry and rising customer desire for natural and pure products.
Players in the massoia bark essential oil market mix the oil with other components and flavors before selling it to enhance its characteristics and add value. Also, as customers' disposable income has increased, they have increased their spending on a variety of goods that meet their individual demands, which has boosted the market for massoia bark essential oils.
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Consumers Becoming Health Conscious
Due to the lack of a significant market player, as well as the rising demand and popularity among consumers for goods that support better health and fitness, there are numerous potential for players to expand in the Massoia Bark Essential Oil market. One of the key factors propelling the Massoia Bark Essential Oil market is the rising customer demand for and preference for pure and natural products. Furthermore, by highlighting its advantages over other essential oils, the major industry participants in the massoia bark essential oil market should place an emphasis on establishing and raising consumer awareness about massoia bark essential oil.
Comparative View of Associated Market
Linseed Oil Market:
Attributes
Linseed Oil Market
CAGR (2023 to 2033)
6%
Market Value (2023)
US$ 7,904 million
Growth Factor
Linseed oil is produced by pressing and used in lubricants, paints, varnishes, and the leather industry. Linseed oil is primarily grown for this purpose.
Key Trend
Linseed oil's demand is projected to increase as a result of the increased attention given to its health advantages. Linseed oil is also taking the place of other oils like fish oil as a nutritional supplement because it is organic and of vegetarian origin.
Cajeput Oil Market:
Attributes
Cajeput Oil Market
CAGR (2023 to 2033)
5.9%
Market Value (2023)
US$ 504.7 million
Growth Factor
It is produced by distilling the tree's fresh leaves and is mostly used in aromatherapy. The cajeput oil reduces discomfort, relieves gas, unclogs congestion, and fights infections.
Key Trend
In cosmetic products, cajeput oil is used to cure skin infections and relieve discomfort. In the food and beverage industry, it functions as a flavoring agent.
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Country-wise Insights
How are the Sales of Massoia Bark Essential Oil Market Shaping in North America?
In the upcoming years, it is anticipated that growing consumer awareness of the value of living a healthy lifestyle and rising acceptance of natural products will fuel market expansion in North America. Global businesses are starting and expanding their operations in this region due to factors like the high per capita income, tax advantages, and government subsidies. This situation is greatly influenced by the region's growing preference for preventive healthcare.
Why is there a Rising Demand for Massoia Bark Essential Oil in Asia Pacific?
In 2021, the Asia Pacific region held the top regional market position and a sizable portion of the global market share. The region is expected to experience significant growth as a result of rising product demand from nations like China, India, and Japan. During the course of the projection period, industry growth is predicted to be fueled by rising consumer awareness of health and hygiene issues and rising purchasing power.
How Big is the European Market for Massoia Bark Essential Oil?
In 2022, Europe had the largest revenue share on the global market. This is due to the region's large population and several undiscovered markets, which are anticipated to draw the attention of major players that will grow and create operations and distribution centers there. The leading market position held by Europe in this market is mostly due to the simple availability of feedstock and the presence of numerous industry players. A number of variables, including an early stage of economic development and a higher standard of life, are promoting the growth of important end-user industries.
Category-wise Insights
Application by Fragrance Industry
Due to significant demand from numerous end-use sectors, such as perfumery and cosmetics, scent was one of the main applications accounting for in 2022. Because more people are becoming aware of the health advantages of using essential oils, this application segment is expanding. Over the forecast period, the demand is also anticipated to increase due to consumer desire for natural scents in cosmetics and toiletries.
Application in Pharmaceutical Industry
Massoia bark essential oil's calming, energizing, and calming effects on the body and mind also improve blood circulation. Also, it has a great texture and smell. Massoia bark essential oil's antibacterial and antifungal properties also help prevent and treat a wide range of illnesses and diseases, including respiratory and digestive infections. As a result, the pharmaceutical industry employs it. A further element driving up demand for massoia bark essential oil is customers' growing health consciousness. Though there are some cases of irritation when Massoia Bark Essential Oil is applied to the skin above the recommended limit because of the lactone content found in it, this isn't scientifically verified.
Competitive Landscape
The Massoia Bark Essential Oil market is only slightly fragmented. The major market players are concentrating on expansion tactics like mergers and acquisitions and extending their distribution networks to increase their market position. The manufacturers in the market used a variety of competitive methods, including product releases, free-from claims, and organic and natural origin claims.
Scope of the Report
Attribute
Details
Forecast Period
2023 to 2033
Historical Data Available for
2018 to 2022
Market Analysis
US$ million for Value and Metric Ton for Volume
Key Regions Covered
North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa
Key Countries Covered
United States of America, Canada, Brazil, Mexico, Germany, United Kingdom, France, Italy, Spain, Nordic, Russia, Poland, China, Japan, South Korea, India, Thailand, Indonesia, Malaysia, Singapore, Australia, New Zealand, GCC countries, North Africa, South Africa, others.
Key Segments Covered
Nature, Production Division, Application, Grade and Region
Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing
Available upon Request
Massoia Bark Essential Oil Market by Category
By Nature:
Organic Massoia Bark Essential Oil
Conventional Massoia Bark Essential Oil
By Product Division:
Essential Oils
Crude Oils
By Application:
Pharmaceutical
Flavoring Agent
Aromatherapy
Dairy Industry
Fragrances and Deodorant
Others
By Grade:
40%- 50%
51%- 65%
66%-90%
91%-95%
By Region:
North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East & Africa
Frequently Asked Questions
What is the global Massoia Bark Essential Oil Market reported by FMI for 2023?
The Massoia Bark Essential Oil Market is valued at US$ 828.6 million for 2023.
What is the Massoia Bark Essential Oil Market valuation expected for 2033?
The Massoia Bark Essential Oil Market valuation is expected to be US$ 1,179.8 million in the year 2023.
What is the projected CAGR for the Massoia Bark Essential Oil Market from 2023 to 2033?
The value of CAGR for the Massoia Bark Essential Oil Market is estimated to be 3.6%.
Which segment type will garner significant value share by 2023?
The Fragrance segment would garner a significant market value share by 2023.
Which segment type will garner significant value share by 2023?
The Fragrance segment would garner a significant market value share by 2023.
