Newark, Feb. 17, 2023 (GLOBE NEWSWIRE) -- The brainy Insights estimates that the USD 53.4 million in 2022 tea tree oil market will reach USD 91.0 million by 2030. The population's growing understanding of the benefits of using natural components rather than synthetic ones in soaps and other products has contributed to the market's expansion. Additionally, the primary uses of tea tree oil in the pharmaceutical business include treating various skin infections and fungal rashes. Additionally, it is in high demand by personal care and cosmetics manufacturers as a natural cure.
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Key Insight of the tea tree oil Market
North America to account for the largest market size during the forecast period.
North America is expected to have the largest tea tree oil market share. The market for tea tree oil in the region has been increasing owing to the rising demand for natural cosmetic products as they have lesser side effects coupled with other benefits. Furthermore, the rising awareness regarding the health benefits of tea tree oil adds impetus to the market’s growth in the region.
The cosmetics segment is expected to augment the tea tree oil market during the forecast period.
The cosmetics segment is anticipated to dominate the market over the forecast period. Tea tree oil has antibacterial, antiviral, and antifungal effects, making it popular in its undiluted form. It is effective against a variety of fungal illnesses of the scalp, skin, and toes due to its antifungal properties. This increases the demand for tea tree oil in cosmetic products.
The pharmaceuticals manufacturers segment market size is 16.0 million in 2022
The pharmaceuticals manufacturers segment held the largest market share in 2022 and is expected to continue during the forecast period. Tea tree oil is increasingly used by pharmaceutical manufacturers in most of the ointments as they have anti-inflammatory and anesthetic properties help reduce swelling and soothe pain, propelling the segment’s growth.
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Advancement in market
In November 2018, In the Philippines, a country in Southeast Asia, Young Living Essential Oils first offered its products.
In September 2020, In order to grow and promote the sustainable beauty movement in the Middle East, Unilever, the largest consumer products company in the world, announced that Love, Beauty, and Planet, a new body care product, would be released. Lavender, ylang, coconut water, argan oil, shea butter, and tea tree oil are just a few of the natural elements that have been blended into the recipes for this new product.
Market Dynamics
Driver: Increase in Demand
One of the main factors affecting tea tree oil demand is the rise in desire for herbal, natural, and organic cosmetic and personal care products. In many natural and organic goods like skin care, hair care, shampoos, fragrances, soaps, and many more.
Restraint: Not for Children
Because it is ineffective, tea tree oil is not suggested for the treatment of nail fungus. Since it has not been proven to be safe or effective and because it may result in allergic reactions or inflammation, it is not recommended for use on children to treat head lice. No solid proof exists that tea tree oil can treat demodex mite infestations.
Opportunity: Several Benefits
When mixed with lavender oil, tea tree oil has been used to cure lice eggs with great success. Additionally, it is utilised in household cleaners, first aid fresh wound dressings, and other products. This oil's ease of solubility in nonpolar solvents and relative density between 0.885 and 0.906 are the main reasons why doctors recommend it. These elements support the market.
Challenge: Allergic Reaction
When applied to the skin, tea tree oil might cause an allergic reaction. The likelihood of an allergic reaction rises as the oil ages and its chemical composition changes. Itching, linear immunoglobulin, and contact dermatitis Possible adverse effects include a disease, erythema multiforme-like reactions, and systemic hypersensitivity reactions. The various oxidation products produced by exposing the oil to light and air may cause allergic reactions.
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Some of the major players operating in the tea tree oil market are:
● Maria River Plantation
● Young Living Essential Oils
● Jenbrook Pty Ltd
● T.G.Cassegrain & Co Pty Ltd
● Coromandel Mountains Tea Tree Oil Company
● Main Camp
● Integria Healthcare
● Oribi Oils (Pty) Ltd.
● The Lebermuth Company, Inc.
● Aos Product Pvt. Ltd.
● NOW Foods
● TeaTreeTherapy
● Cape Mountain Oils
● True Blue Organics
● NATURES REMEDIES
● Guangdong Fuyang Biotechnology
● Xi'an Natural Field Bio-Technology Co., Ltd
Key Segments cover in the market:
By Application:
● Industrial
● Therapeutic
● Cosmetic and Toiletries
● Others
By End-User:
● Cosmetic Manufacturers
● FMCG Manufacturer
● Residential
● Pharmaceuticals companies
● Others
By Region
● North America (U.S., Canada, Mexico)
● Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
● Asia-Pacific (China, Japan, India, Rest of APAC)
● South America (Brazil and the Rest of South America)
● The Middle East and Africa (UAE, South Africa, Rest of MEA)
About the report:
The market is analyzed based on value (USD million). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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