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Essential Oils Market to Reach USD 14.6 Billion by 2026; Surging Demand for the Product as Additive in Food and Beverage Industry to Bolster Growth, Says Fortune Business Insights™

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Pune, India, May 06, 2021 (GLOBE NEWSWIRE) — The global essential oils market size is expected to reach USD 14.6 billion by the end of 2026. As per the report, the market stood at USD 7.03 billion in 2018 and is projected to exhibit a stellar CAGR of 9.65% during the forecast period of 2019-2026. This vital information is stated by Fortune Business Insights™, in its report, titled, “Essential Oils Market, 2019-2026.” The global food and beverage industry is experiencing steady, yet significant evolution regarding ingredient formulations. The growing inclination of consumers towards organic and naturally grown products has categorized essential oils as an essential component of choice in food processing. This is likely to mark a significant contribution towards the growth of the market.

Inhalation of Essential Oils Likely to be Beneficial to Stall COVID-19 Virus

Since the COVID-19 virus outbreak, the disease has reached every country around the globe, which is why the World Health Organization declared it as a public health emergency. The global impacts of the coronavirus disease were observed by every industry and public too and significantly affected the essential oil market positively. According to the International Journal of Pharmaceutical Science and Research, inhalation of certain essential oils can be beneficial and an adjuvant therapeutic strategy to stall COVID-19. This study is likely to boost the demand and growth of the essential oils market.

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List of Top Players Covered in the Essential Oils Market Research are;

  • Biolandes SAS
  • Givaudan International SA
  • International Flavors & Fragrances Inc.
  • Symrise AG
  • Enio Bonchev Production Ltd.
  • The Lebermuth Company, Inc.
  • Now Foods
  • Phoenix Aromas & Essential Oils LLC
  • Ultra International B.V.
  • Young Living Essential Oils

Segmentation:

Based on type, the global essential oils market is divided into citrus, eucalyptus, lavender, rosemary and tea tree. The citrus based oil is expected to dominate in the market as the leading segment.

On the basis of application, the market is further categorized into food and beverage, personal care and cosmetics and pharmaceuticals among others. Among these, the food and beverage sector is the top application of such oils that act as natural antimicrobials. It held a share of about 46.1% in the year 2018.

Report Coverage:

We follow a comprehensive research methodology that focuses majorly on offering accurate information. Our researchers have used a data triangulation technique which would help us to provide authentic estimates and gauge the overall market dynamics. Besides, our analysts gained access to several global and regional paid databases for delivering the latest information so that you can invest only in the crucial zones.

Browse Detailed Summary of Research Report with TOC:

https://www.fortunebusinessinsights.com/industry-reports/essential-oils-market-101063

Drivers and Restraints:

Essential Oils Used as a Preservation Source to Bolster Market Growth

Essential oils have a vital role to carry out regarding the organic preservation of foods during the rising fear for artificial food essences and their long-standing unfavourable outcomes. Several clinical trials, where the ranging based on concentration levels for the oils to be 0.5 to 20 microliters per gram, have observed antibacterial activities in foods such as meat products, sea-food, milk, milk products, vegetables, and even cooked rice, among others. There has been a significant collaboration established using mild preservation methods coupled with essential oils. Furthermore, it is a great opportunity for R&D to combine and utilize the oil as food additives and is anticipated to deliver further motivation for the essential oils market to grow.

Regional Insights:

North America and Europe to Co-Lead the Market Backed by Attraction of Aromatherapy

The essential oils market share in the North American region was worth USD 1.79 billion in 2018. The developed nations of the European region and the U.S. have acknowledged a few of the constituents of essential oils such as cinnamaldehyde, carvone, Citral, carvacrol, p-cymene, among others as a valid flavouring. The cosmetic developers in Europe too are leaning immensely to include essential oils in their products.  The rising popularity for aromatherapy in major markets of the leading countries in the European region is projected to make a notable contribution to the sales segment of these oils further promoting the essential oils market growth.

Competitive Landscape:

Innovative Launches by Key Players to Further Promote Market Growth

The prominent players in the market are constantly watching out for opportunities to invest, launch or merge with other key companies to bolster their position in the market. They plan effective strategies along with the help of their expert advisors to enhance their brand value and ensure better reach among the end-users. One such efficient strategy is launching innovative products to attract consumers from all regions.

For example, in November 2018, Young Living Essential Oils launched its offerings and solutions in the Philippines, which falls in the Southeast Asian market.

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Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Overview of the Parent/Related Markets
    • Recent Industry Developments – Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
    • Production, Trade and Consumption Patterns of Essential Oils – Analysis and Forecast
  • Global Essential Oils Market Analysis, Insights and Forecast, 2015-2026
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Type
      • Citrus
      • Eucalyptus
      • Lavender
      • Rosemary
      • Tea Tree
      • Others
    • Market Analysis, Insights and Forecast – By Application
      • Food & Beverages
      • Personal Care & Cosmetics
      • Pharmaceuticals and Medicinal Formulations
      • Others
    • Market Analysis, Insights and Forecast – By Geography
      • North America
      • Europe
      • Asia Pacific
      • South America
      • Middle East & Africa

TOC Continued…!

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https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/essential-oils-market-101063

Have a Look at Related Research Insights:

Olive Oil Market Size, Share & COVID-19 Impact Analysis, By Type (Refined Olive Oil, Virgin Olive Oil, Olive Pomace Oil, and Others), End-user (Household/Retail, Food Service/HoReCa, Food Manufacturing, and Others), and Regional Forecast, 2020 – 2027

Sunflower Oil Market Size, Share & Industry Analysis, By Application (Food, Pharmaceuticals, Cosmetics, Others), By End-users (Households, Industrial, Foodservice) and Regional Forecast, 2021-2028

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Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

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Artificial Intelligence

CleverTap launches Clever.AI, the AI-Driven Edge for Customer Engagement & Retention

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Clever.AI will help brands achieve 66% higher conversion rates and 35% boost in operational efficiency
SAN FRANCISCO and MUMBAI, India, May 3, 2024 /PRNewswire/ — CleverTap, one of the leading all-in-one customer engagement and retention platforms, today announced the launch of Clever.AI, its AI engine. With Clever.AI, CleverTap seeks to enable brands with the next generation of AI capabilities required to build human-like understanding of customers and deliver personalized experiences efficiently that resonate with them, ultimately maximizing customer lifetime value.

Clever.AI is built on the foundation of three core AI pillars – Predictive, Generative, and Prescriptive. Clever.AI propels these three pillars to transform the way brands engage with customers and make customer interactions more intelligent, and efficient.
Clever.AI enables brands to become:
Insightful: With Predictive AI capabilities, it forecasts precise business outcomes, helping brands to anticipate customer needs. Clever.AI’s insights are powered by CleverTap’s proprietary TesseractDB™ which ensures data granularity with an extended lookback period, making predictions more accurate, and enabling brands to make informed decisions, resulting in improved marketing ROIEmpathetic: Taking GenAI forward, Clever.AI merges creativity with emotional intelligence, crafting content that resonates on a human level. This empathetic approach helps brands drive higher conversions and engages customers with hyper-personalized experiencesActionable: Leveraging Prescriptive AI capabilities, it provides actionable recommendations to maximize conversions throughout the customer journey by helping brands identify the optimal engagement strategies in real-timePeter Takacs, Digital Product Manager, Burger King said, “I would rate it 10 for its ease of use and numerous possible use cases. We uplifted our marketing campaigns by easily experimenting with multiple possibilities and quickly converging on the optimum one. It opens up a new era of continuous experimentation for us.”
Anand Jain, Co-founder and Chief Product Officer, CleverTap said, “We’re thrilled to unveil Clever.AI, a testament of our pursuit over the last several years in leading the way in adopting the latest tech to transform customer engagement. We will continue to innovate CleverTap’s All-in-One engagement platform with Clever.AI enhancing its precision in predictions, its ability to prescribe intelligent customer experiences strengthened by advanced product analytics and deeper persona profiling to ensure brands can build highly personalized experiences, and campaigns more effectively, ensuring every customer interaction is personalized and outcome driven.”
With Clever.AI, brands have already experienced a boost in conversion with significantly higher operational efficiency. They witnessed a 66 percent increase in conversion rates, 35% boost in operational efficiency and a 3x improvement in click-through rates (CTRs), with an increase across metrics such as purchases, and average order values (AOVs). Moreover, Clever.AI enhanced operational efficiency by simplifying campaign roll-outs, content creation, and experimentation at scale. Clever.AI has helped leading brands like TouchnGo, Swiggy, Burger King add efficiency to their campaigns.
CleverTap will unveil its new AI capabilities through its Spring Release ’24 event slated from 6th May to 9th May, through a series of thought-provoking sessions on how AI can make campaigns more intelligent, efficient, and engaging for brands.
About CleverTap
CleverTap is the all-in-one engagement platform that helps brands unlock limitless customer lifetime value by helping them create personalized experiences to retain their most valuable customers. The platform empowers businesses to orchestrate experiences for individuals across their lifecycles and design personalized journeys that span a lifetime. It offers analytics that encompasses every aspect of the lifecycle, enabling businesses to measure and optimize each experience in real-time. Its unique AI capability is insightful, empathetic, and prescriptive, facilitating smarter and faster decisions. The all-in-one platform unifies experiences from every touchpoint, paving the way for a new era of customer engagement.
The platform is powered by TesseractDB™ – the world’s first purpose-built database for customer engagement, offering both speed and economies of scale.
CleverTap is trusted by 2000 customers, including Electronic Arts, TiltingPoint, Gamebasics, Big Fish, MobilityWare, TED, English Premier League, TD Bank, Carousell, AirAsia, Papa John’s, and Tesco.
Backed by leading investors such as Peak XV Partners, Tiger Global, Accel, CDPQ, and 360 One, the company is headquartered in San Francisco, California, with presence in New York, São Paulo, Bogota, London, Amsterdam, Sofia, Dubai, Mumbai, Bangalore, Delhi, Singapore, Jakarta, and Ho Chi Minh.
For more information, visit clevertap.com or follow us on: LinkedIn: https://www.linkedin.com/company/clevertap/X: https://twitter.com/CleverTap
Forward-Looking Statements
Some of the statements in this press release may represent CleverTap’s belief in connection with future events and may be forward-looking statements, or statements of future expectations based on currently available information. CleverTap cautions that such statements are naturally subject to risks and uncertainties that could result in the actual outcome being absolutely different from the results anticipated by the statements mentioned in the press release.
Factors such as the development of general economic conditions affecting our business, future market conditions, our ability to maintain cost advantages, uncertainty with respect to earnings, corporate actions, client concentration, reduced demand, liability or damages in our service contracts, unusual catastrophic loss events, war, political instability, changes in government policies or laws, legal restrictions impacting our business, impact of pandemic, epidemic, any natural calamity and other factors that are naturally beyond our control, changes in the capital markets and other circumstances may cause the actual events or results to be materially different, from those anticipated by such statements. CleverTap does not make any representation or warranty, express or implied, as to the accuracy, completeness, or updated or revised status of such statements. Therefore, in no case whatsoever will CleverTap and its affiliate companies be liable to anyone for any decision made or action taken in conjunction.
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Artificial Intelligence

Appian Named a Leader in the 2024 Gartner® Magic Quadrant™ for Process Mining Platforms Report

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LONDON, May 3, 2024 /PRNewswire/ — Appian (Nasdaq: APPN) today announced it has been named a Leader by Gartner in its 2024 Magic Quadrant for Process Mining Platforms report. The report evaluated 18 vendors and their product offerings. For more information, download a complimentary copy of the Gartner Process Mining 2024 report. 

Gartner defines Process Mining platforms as tools that deliver visibility and insights to technology innovation leaders that enable smart decision making and strong performance on an organisation’s critical priorities. Features that make Appian a leader in Process Mining, include:
Faster data prep that eliminates complex transformation with always-ready data from multiple sources.Automated process analysis and intelligent recommendations for where and how to take action.A low-code experience for measuring, monitoring, and optimising process performance—all within one platform.”We believe that Appian’s recognition in the Gartner Process Mining Platforms Magic Quadrant underscores our dedication to process excellence. Through Process HQ, we integrate data fabric, process mining, machine learning, and generative AI to streamline manual data prep, enabling businesses to gain insights swiftly and implement improvements easily,” said Michael Beckley, CTO and Founder of Appian. “Our unified approach merges Process Mining with AI-driven process automation, setting a new standard for efficiency and intelligence.”
Business users need greater visibility into the full breadth of their enterprise data and processes in order to maximise operational efficiency and strategic decision-making. By combining the latest technologies in data fabric, process mining, machine learning, and generative AI, Process HQ helps monitor and improve every business process built on Appian. Process HQ makes it easy to reduce costs, risks, and delays, improve compliance, and drive better business outcomes, without the need for costly and time-consuming data collection efforts.
Appian is now an industry leader across its value proposition to Design, Automate, and Optimise the most complex business processes. In addition to today’s announcement, Appian was named a Leader in the 2023 Gartner® Magic Quadrant™ for Enterprise Low-Code Application Platforms report, and was ranked #1 for the Business Workflow Automation with Integration Use Case in the 2023 Gartner® Critical Capabilities for Enterprise Low-Code Application Platforms (LCAP) report.
To access the report and to learn more about Appian’s positioning, visit https://ap.pn/3y2ClZy. Register for our upcoming webinar Process Intelligence Made Easy: The Key to Better Business Decisions on June 20, 2024 at 12pm EST to discover how Process HQ can improve business processes.
Gartner disclaimerGartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner research organisation and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. GARTNER is a registered trademark and service mark of Gartner and Magic Quadrant is a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.
About Appian
Appian is a software company that automates business processes. The Appian AI Process Platform includes everything you need to design, automate, and optimise even the most complex processes, from start to finish. The world’s most innovative organisations trust Appian to improve their workflows, unify data, and optimise operations—resulting in better growth and superior customer experiences. For more information, visit appian.com. [Nasdaq: APPN]
Follow Appian: LinkedIn, X, and X (UK).
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Artificial Intelligence

Innodisk Introduces iCAP Air: Advancing Air Quality Management through Autonomous Decision-Making

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TAIPEI, May 3, 2024 /PRNewswire/ — Innodisk, a global leader in AI solutions, has taken a pivotal step forward in environmental sustainability with the launch of its latest innovation, the “iCAP Air” air quality management solution. This solution empowers businesses worldwide to enhance air quality, sustainability, and human health. Additionally, business can benefit from monthly AI-generated air quality data report, providing valuable insights for informed decision-making.

Leveraging its expertise in edge computing and software and hardware integration, along with the expertise of its subsidiary Sysinno in air quality detection, Innodisk has achieved the development of the “iCAP Air” air quality management solution. This solution integrates advanced technology, including the innovative “iAeris7” air quality detector from Sysinno, to deliver accuracy in detecting temperature, humidity, fine suspended particles (PM2.5), suspended particles (PM10), carbon dioxide (CO2), formaldehyde and total volatile organic compounds (TVOC). It can also be customized to detect NO2, SO2, CO, NH3, and other air factors. At the same time, the iAeris7 device is known for its reliability, patented technology, and various international certifications, including those from SGS and FCC/CE/RoHS/NCC/BSMI.
The solution also includes the “iCAP Air Server,” designed to manage large-scale deployment and data from up to 100 air quality detectors, ensuring seamless integration and efficient operation, even in complex environments. Additionally, iCAP Air provides a user-friendly air quality management platform, enabling organizations to monitor air quality in real-time via a mobile app or internet browser, receive automatic alerts, and optimize air purification or exhaust ventilation system.
iCAP Air is a comprehensive solution that simplifies air quality management for users. It is tailored for medium to large-sized sites or densely populated, enclosed spaces such as medical institutions, smart manufacturing facilities, public transportation hubs, indoor parking facilities, and department stores. Innodisk’s “iCAP Air” air quality management solution represents a milestone for all businesses committed to leveraging technology for the greater good of air quality and society.
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