Roman Chamomile Essential Oil Market Outlook:
Roman chamomile essential oil is derived from a lesser known perennial plant namely Roman Chamomile that is cultivated mainly in the areas of Europe, North America, and Argentina. Roman chamomile essential oil is further extracted through steam distillation method from the flowers as well as procumbent stems from the chamomile plant. This Roman chamomile essential oil possesses a rich and unique woody aroma with a fruity scent somewhat similar to that of an apple or peach. Composed primarily of 65% to 80% esters, the roman chamomile essential oil showcase a wide range of benefits owing to its anti-inflammatory, antispasmodic, analgesic and soothing qualities. Due to these properties, roman chamomile essential oil is used for relieving anxiety and stress and in turn providing freshness and calmness. Further, roman chamomile essential oil is used in aromatherapy for calming and soothing tensed and stressed mind and to ease feelings of discontent, anger and grief. Apart from its rich fruity smell, emotional and therapeutic properties, roman chamomile essential oil also has several health benefits in digestive, respiratory, nervous and integumentary systems. It is effective in treating and relieving diarrhoea, gas, ingestion, liver problems, cough, and other issues. Roman chamomile essential oil is also used for skin treatments owing to its properties that cures reddened skin, revitalises it and adds extra shine to the skin. In addition, roman chamomile essential oil is also used as a sedative for providing a peaceful and calm sleep and hence, used for curing sleep depravedness and insomnia. Owing to the widespread significant properties, the market for roman chamomile essential oil has high potential to grow in the coming years.
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Foster in the demand for Roman Chamomile essential oil owing to its anti-inflammatory and analgesic properties
The key drivers of roman chamomile essential oil market include rising population and increasing demand from natural and eco-friendly products in personal care, food service, therapies, and healthcare industries. Increasing usage of roman chamomile essential oils as ingredients in a large number of products such as personal care products, aromatherapy products, healthcare products, etc. has triggered its demand worldwide. Further, one of the key factor fostering the applications of roman chamomile essential oil is its properties to get blended with other essential oils and products easily. The Government has taken many initiatives to develop the essential oil market for trade purpose. In addition, the numerous overall health benefits associated with roman chamomile essential oils are anticipated to drive the product demand in pharmaceutical and medicinal applications as well. Another driving factor the roman chamomile essential oil market is zero detrimental side effects unlike conventional medicines and products made from chemical and harmful agents. Some of the restraints of the roman chamomile essential oil market could be high tariffs and tightened regulation from the government, rising chemical input costs, seasonal production of raw material and uneven weather conditions. Production of essential oils requires highly focused farm practices and field maintenance for good quality and quantity yield. In addition, government certifications required for the raw materials have made the product even more expensive.
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Global Roman Chamomile Essential Oil: Market Segmentation:
On the basis of nature, the global Roman Chamomile Essential Oil has been segmented as:
- Organic Roman Chamomile Essential Oil
- Conventional Roman Chamomile Essential Oil
On the basis of end use, the global Roman Chamomile Essential Oil has been segmented as:
- Personal Care
- Perfume industry
- Flavoring agent
Global Roman Chamomile Essential Oil: Key Participants:
Some of the market participants in the global Roman Chamomile Essential Oil identified across the value chain include The Lebermuth Company, Young Living Essential Oils, doTerra International LLC, DevinezIndia, Ryaal essential oils, Rks Aroma, Fragrance, Divine Natural Essentials, and oriental botanics amongst others.
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Opportunities for Participants in the Roman Chamomile Essential Oil:
The roman chamomile essential oil market is highly fragmented as of now and very few companies hold any major market share. Approximately 65% of the roman chamomile essential oil is produced and manufactured in developing nations as essential oil farming is labor intensive and the cost of labor is less in developing nations such as South Africa, India, and China. Therefore the market sees huge opportunities in the export of these oils to the developed nations in coming years. However, there are certain constraints to the essential oil market as the technology to extract and preserve oil needs to be upgraded and trade barriers need to be loosened. A large number of value-added products can be produced using these roman chamomile essential oils. Roman chamomile essential oils are antibacterial, antiviral, antifungal, and antimicrobial. Thus, the demand for the same has increased substantially in the past one decade and is expected to grow briskly in coming years with greater industrialization and globalization. Moderate levels of entry barriers would attract many companies to venture into the market to take the share of rising revenues. The roman chamomile essential oil can be sold in dried forms or as an extract which give them a high value per unit of weight, hence these products can be a profitable source of diversification for small farmers and industries in developing nations.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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