In 2020, the market size for oregano essential oil was assessed to be $9 billion, and it is anticipated to expand at a CAGR of 10% from 2023 to 2030. In the coming years, the rising demand for natural preservatives in the food and beverage industry and the increased usage of essential oils in aromatherapy within the healthcare sector are projected to be the key drivers of the oregano essential oil market. Europe and North America are the regions with the greatest market concentration for oregano essential oil. This is mostly due to the widespread usage of this seasoning in the specialised cuisines favoured by both Europeans and Americans. People are more likely to include oregano essential oil into their everyday culinary dishes when they learn more about the oil's favourable health effects. Zane Hellas, Young Living Essential, Now Health Group, NHR Organic Oils, Plant Therapy, DoTERRA International, Nature's Way Products, Natural Factors Nutritional Products, North American Herbs and Spice, and Baltik Junior are some of the leading industry participants.
A worldwide surge in demand for oregano essential oil is a result of the food and beverage industry's increased interest in employing natural preservatives. It is projected that the market for essential oils and aromatherapy would experience a quicker growth rate as a result of greater consumer awareness regarding the therapeutic properties of essential oils and aromatherapy oils. The rising usage of essential oils in aromatherapy within the medical field is generating demand for these oils within the global healthcare and pharmaceuticals industries.
Oregano oil is believed to be the most powerful antimicrobial oil in aromatherapy. Compared to other aromatic plants, it possesses the highest concentration of phenol, the component responsible for the plant's potent antibacterial activity. There has been a considerable increase in the demand for oregano essential oil in the pharmaceuticals industry in numerous nations during the past few years. This demand wave is predicted to persist throughout the period covered by the forecast.
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In recent years, food and beverage companies have began using natural preservatives, such as essential oils, into processed goods. The purpose of these additives is to enhance the shelf life of the items. This can be attributed to buyers' rising interest in purchasing natural products. Carvacrol and thymol are the two basic components used to manufacture oregano essential oil. These components are responsible for the oil's characteristic scent and antibacterial and antioxidant properties. Because it prevents the growth of bacteria, oregano essential oil is utilised as a preservative in the food industry.
On the international market, there is an imbalance between demand and supply, resulting in very changeable prices for oregano essential oil. Due to this fluctuation in costs, it is challenging for manufacturers to both optimise the pricing of their final products and retain their profit margins. This creates a difficulty for manufacturers. Due to the high cost of essential oils such as oregano, several perfume producers are driven to minimise the cost of their formulations by using cheaper ingredients such as low-cost natural oils or synthetic oils that can serve as alternatives for more expensive essential oils. This is due to the importance of essential oils to the fragrance's aroma. The global market for essential oils, and more especially the market for oregano essential oil, faces major growth obstacles due to pricing constraints.
In 2021, the organic oregano essential oil segment dominated market revenue. The benefits of oregano essential oil, which include the ability to combat germs, treat fungal infections, give antioxidants, heal wounds, and perform other similar functions, are projected to boost market demand.The end user market is segmented by pharmaceutical industry, cosmetic industry, food and beverage industry, and other end users. During the forecast period, it is anticipated that the demand for oregano essential oils would be driven by the oils' wide range of applications.
In 2021, Europe dominated the market in terms of revenue compared to other regions. Revenue-wise, North America holds the second greatest share. During the time period covered by the forecast, it is anticipated that Europe would maintain its market dominance. The increasing use of oregano oil in the region's culinary industry is increasing demand for the commodity. It is anticipated that the Asia-Pacific market would expand significantly due to the increasing use of oregano oil in the region's medical and aromatherapeutic practises.
