Id: CBI_1522 | Pages: 326 | Format : PDF | Published : | Author : Amit Sati | Category : Materials And Chemicals
Helichrysum Oil Market size is growing with a CAGR of 5.3% during the forecast period (2024-2031), and the market is projected to be valued at USD 71.84 Billion by 2031 from USD 50.10 Billion in 2023.
Helichrysum oil is a naturally concentrated essential oil that is extracted from the flowers and leaves of the Helichrysum italicum plant, which belongs to the Asteraceae family and is extracted through the distillation process. It has numerous uses in holistic healing, skincare, and aromatherapy. It is used as a tool for enhancing both the physical and mental well-being of an individual because of its anti-microbial, anti-inflammatory, and antibacterial properties. These oils are beneficial in various applications including cosmetics and personal care, food and beverages, and pharmaceutical products among others. Moreover, the growing trend towards natural solutions for skincare, and the growing requirement for aromatherapy products are influencing the growth of the helichrysum oil market.
The increase in popularity of aromatherapy is propelling the use of helichrysum oil because of its therapeutic properties. It has a sweet smell, which helps reduce stress and anxiety, promotes relaxation, and helps maintain mental and emotional well-being. As people are it is particularly known because of its properties. Aromatherapy is a therapeutic practice conducted using essential oils for therapeutic care. Helichrysum oils are essential oils that contain a compound known as diketones which contains properties such as anti-inflammatory, and anti-bacterial. Aromatherapies diffuse this oil to help with respiratory issues and other conditions such as anxiety, depression, nausea, and insomnia.
The growing popularity of holistic and natural remedies among consumers is driving the market. Its ability to help people relax and reduce stress corresponds with the growing interest in wellness practices. It is incorporated in aromatherapy accessories such as necklaces, bracelets, and keychains which contain absorbent materials where the essential oil is applied and the individual can sniff it throughout the day. Moreover, aromatherapy is generally provided by using aroma sticks and aroma diffusers, where the essential oils are diffused for therapeutic purposes. Various types of aroma diffusers are developed to offer aroma therapy.
Thus, the use of the oil in aromatherapy is boosting the helichrysum oil market growth.
Helichrysum oils are highly regarded in skincare products because of their anti-inflammatory, anti-oxidant, and skin regeneration properties. Individuals are shifting their preferences toward the use of natural skin care products because of the awareness of the risks associated with the use of synthetic ingredients in conventional skincare products.
This oil provides a safe and natural remedy for skin conditions such as inflammation, acne, and scars. They are incorporated in anti-aging formulations because of their properties to increase collagen production, enhance elasticity, and reduce the appearance of wrinkles. Furthermore, because of their inflammatory properties, these oils are used to reduce the inflammation caused because of eczema, by soothing the irritated skin. They contain good moisturizing properties. These oils are added to moisturizing creams because of their hydrating, healing, and rejuvenating, properties.
Thus, the demand for natural skin care products is boosting the helichrysum oil market growth.
The commercialization of other oils hinders the growth of the market. The growth of helichrysum oils is hindered by the competition from oils that offer similar benefits. Despite the numerous benefits of these oils, consumers look for a variety of oils that offer similar or more beneficial options such as tea tree, peppermint, lavender, lemon oil, and eucalyptus oil among others. Eucalyptus oil is a form of essential oil that is utilized in various applications including foods and beverages, animal feed, personal care products, and others. They act as an excellent repellent to avoid insects. Various novel repellents are introduced that generally contain eucalyptus oil along with other oil blends.
The emergence of blended essential oil products that combine multiple beneficial oils further drives the need for alternate essential oils, restricting the helichrysum oil market demand.
Helichrysum oil has become essential because of its natural advantages in cosmetic and personal care products. It adds light fragrance to hair care products such as shampoos and conditioners, along with other hair benefits such as scalp treatment and nourishment to hair. The oil's scent enhances the sensory experience of personal care products such as soaps, and shampoos. Products such as deodorants use the antimicrobial qualities of the oil to control odors. Furthermore, because of their calming properties, these oils are used in ointments, balms, and other products. The various uses of the oil make it a good option for enhancing the appeal and formulation of cosmetics and personal care products as consumer preferences shift towards natural and multifunctional ingredients.
Thus, the market analysis shows that the rise in the application of oil in the cosmetic industry is boosting the helichrysum oil market opportunities.
Based on nature, the market is bifurcated into conventional and organic.
Trends in the Nature:
The organic segment accounted for the largest market share in 2023 and is also expected to register the fastest CAGR during the forecast period.
The source segment is categorized into leaves, flowers, and others.
Trends in the Source:
The flowers segment accounted for the largest market share of the total helichrysum oil market share in 2023 and is expected to register the fastest CAGR during the forecast period.
The application segment is categorized into aromatherapy, cosmetics and personal care products, pharmaceutical products, food and beverages processing, and others.
Trends in the Application:
The aromatherapy segment accounted for the largest market share of 31.42% of the total helichrysum oil market share in the year 2023.
The regional segment includes North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
In 2023, North America accounted for the highest market share at 34.77% and was valued at USD 17.42 Billion, and is expected to reach USD 25.83 Billion in 2031. In North America, the U.S. accounted for the highest market share of 65.15% during the base year of 2023. As per the helichrysum oil market analysis, due to the health and wellness trend, North America's preference for natural and organic products is growing which has raised the demand for essential oils including the helichrysum. It generally contains anti-inflammatory and antioxidant properties that make it one of the preferred ingredients for skin care and skincare products. Moreover, individuals find it easy to incorporate helichrysum oil into their daily regime because of its availability in various retail outlets and e-commerce resources.
Asia Pacific is expected to witness the fastest CAGR over the forecast period 6.1% during 2024-2031. Helichrysum oil is mostly used in the cosmetics and pharmaceutical sectors. It contains medical properties such as anti-inflammatory, antibacterial, and antioxidant which is used for the treatment of skin conditions, hypertension, and infections. It is incorporated into the pharmaceutical sector for the production of medicine and therapy. Furthermore, a significant surge in the pharmaceutical sector in Asia Pacific is driving the market.
Thus, as per the helichrysum oil market analysis, the incorporation of the oil in various industries is boosting the market in the region.
The Helichrysum oil market is highly competitive with major players providing precise measurement between objects to the national and international markets. Key players are adopting several strategies in research and development (R&D), product innovation, and end-user launches to hold a strong position in the global helichrysum oil market. Key players in the helichrysum oil industry include-
Product Launches:
Report Attributes | Report Details |
Study Timeline | 2018-2031 |
Market Size in 2031 | USD 71.84 Billion |
CAGR (2024-2031) | 5.3% |
By Nature |
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By Source |
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By Application |
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By Region |
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Key Players |
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North America | U.S. Canada Mexico |
Europe | U.K. Germany France Spain Italy Russia Benelux Rest of Europe |
APAC | China South Korea Japan India Australia ASEAN Rest of Asia-Pacific |
Middle East and Africa | GCC Turkey South Africa Rest of MEA |
LATAM | Brazil Argentina Chile Rest of LATAM |
Report Coverage |
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In 2023, the helichrysum oil market is USD 50.10 Billion.
Asia Pacific is the fastest-growing region in the helichrysum oil market.
Nature, Source, Application the segmentation details covered in the helichrysum oil market
Young Living Essential Oils, LC, doTERRA, Hollywood Secrets, Nomad Botanicals, ArOmis Aromatherapy, Nature's Sunshine Products, Helichrysum Croatia, Aromatics International, Rocky Mountain Oils, NOW Foods, Immortelle Therapy, R.K's Aroma, Aroma Tierra