The global Massoia Bark Essential Oil market is expected to reach a market valuation of USD 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.
| Attributes | Details |
|---|---|
| Massoia Bark Essential Oil Market Size (2023E) | USD 828.6 million |
| Massoia Bark Essential Oil Market Projected Size (2033F) | USD 1,179.8 million |
| Value CAGR (2023 to 2033) | 3.6% |
| Top 3 Countries Marketing Share | 70% |
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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| 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% |
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.
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.
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.
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.
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.
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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.
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.
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.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD million for Value and Metric Ton for Volume |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; 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, Region |
| Key Companies Profiled | PT.Scent Indonesia; Nusaroma; Alabama Essential Oil; Penta Manufacturing Company; Berjé; HK (HARAPAN KIMIA) GROUPS; Handa Fine Chemicals; Ultra International B.V.; Van Aroma; The Good Scents Company; Earth Angel Oils; Earths Purities |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The Massoia Bark Essential Oil Market is valued at US$ 828.6 million for 2023.
The Massoia Bark Essential Oil Market valuation is expected to be US$ 1,179.8 million in the year 2023.
The value of CAGR for the Massoia Bark Essential Oil Market is estimated to be 3.6%.
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.
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Massoia Bark Essential Oil Market
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