Rise in demand for natural cosmetic products and surge in number of millennials are expected to propel the growth of the global tea tree oil market. The cosmetic & toiletries dominated the market in terms of revenue, holding more than three-fourths of the total market. On the other hand, the market across North America accounted for the largest share in 2017.
PORTLAND, Oregon, May 27, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Tea Tree Oil Market by Application (Cosmetics & Toiletries Application, Therapeutics Application, and Industrial Application), End User (FMCG Manufacturer, Cosmetics Companies, Pharmaceutical Companies, and Others), and Grade (Pharma/Cosmetic Grade and Therapeutic Grade): Global Opportunity Analysis and Industry Forecast, 2018–2025". According to the report, global tea tree oil market accounted for $38.8 million in 2017 and is expected to reach $59.5 million by 2025, registering a CAGR of 5.6% during the forecast period.
Rise in demand for natural cosmetic products due to its large-scale application in the production of shampoos, conditioner, skin clearing lotion, and face creams has boosted the growth of the global tea tree oil market. However, low product penetration in Asia-Pacific and LAMEA hampers market growth. On the contrary, rise in number of millennials which are prime customers for natural and clean label products is expected to create lucrative opportunities in the near future.
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Cosmetic and toiletries application segment to dominate through 2025
The cosmetic and toiletries application segment held the largest share in 2017, contributing more than three-fourths of the total market, owing to rise in awareness regarding various health benefits associated with tea tree oil. Moreover, it can be used to treat wounds and provide soothing relief for aches, pains, and congestion, which has boosted its use in cosmetics and toiletries. However, the industrial application segment is estimated to register the fastest CAGR of 8.0% during the forecast period, as it is said to be a natural disinfectant. The report includes analysis of the therapeutic application segment.
North America region to garner highest revenue
The market across the North America region held the largest share in 2017, contributing around two-fifths of the total market, owing to high consumption rate of natural cosmetic and large group of consumers in the region. However, the market across LAMEA is expected to manifest the fastest CAGR of 6.8% during the forecast period, owing to high rate of demand for natural essential oil in both household and commercial sectors. The report also offers an in-depth study of the market across Europe and Asia-Pacific.
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Major market players
The global tea tree oil market report provides analysis of the major market players such as G.R. Davis, Main Camp, Cassegrain Kalara, Maria River Plantation, Coromandel Mountains, Jenbrook, LvHuan Technology, Oribi Oils, Fuyang Biotechnology, and Integria Healthcare.
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