Lavender extract is the collection of essential crude mixtures from extraction of different parts of lavender flower, which is extracted by using solvent such as ethanol or water. Lavandula oil is extracted from the lavender flowers scientific known as Lavandula Angustifolia. Production of lavendula oil requires huge laborious work and help of distillation process, Lavandula oil (Lavender oil) is extracted. There are different methods from which this essential oil is extracted such as hydro distillation, steam distillation and solvent extraction. Lavender extracts contains desirable properties extracted from herbaceous lavender flowers which is finding increasing and extensive uses in various industries such as pharmaceuticals for therapeutic properties and herbal medicines, cosmetics for functional properties in skincare related products, along with food and beverages products. Lavender extracts containing phytochemical compounds such as carotenoids and flavonoids are primarily used in tea, bakery products, cosmetics, decoction, oils and others, that is fuelling the demand for global lavender extract market in near future. Lavender extracts can be used in the form of liquid and powder form. Cosmetics industries are using Lavender extracts in their products due to the rising consumer demand for lavender extract skincare products. Shifting consumer preference for natural lavender extract based products is a major driving factor for the growth of lavender extract market.
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Global Lavender Extract: Market Segmentation
The global lavender extract market is segmented on the basis of form, application, and distribution channel and region type. Market segment as per application, it is segmented on the basis of its application in cosmetic, food and beverage and pharmaceutical. Among these application segment cosmetic and pharmaceutical segments are expected to contribute more that 50% market share and expected to grow at higher space. Another segment is on the basis of distribution channel which includes health and beauty stores, pharmacy and drug stores, online retailing and other (direct selling) distribution channels. On analyzing the demand of lavender extracts in form of oil on pie, it was assessed that cosmetic industry acquires majority of share in terms of volume followed by the demand of lavender extracts in food and beverage industry. Primary reason behind its increasing demand for lavender extracts in global level market is due to its richness in natural quality and organic nature. Lavender extracts in form of oil has wide application in products of cosmetic industry such as in perfumes, skin care, and hair care and in many other beauty care products. Demand for lavender oil is also growing from food and beverage and pharmaceutical industry. In food and beverage industry, lavender extracts oil has primarily demand as a food flavoring like in dairy products, tea, culinary herb, jelly etc. and in pharmaceutical industry, lavender extracts oil is used for therapies, dermatitis, diabetes, cold, asthma, insect repellant and for many other purposes. The global lavender extract market is also segmented on the basis of form primarily into powder, liquid and others. Among these, oils segment is expected to fuel the lavender extract market over the forecast period. Among these industries, the cosmetics industry is expected to increase significantly followed by pharmaceuticals industry. Hence, the global lavender extract market is expected to significantly increase the revenue contribution over the forecast period.
Global Lavender Extract Market: Regional Outlook
Geographically, the global Lavender extract industry can be divided by major regions which include North America, Latin America, Europe, Asia Pacific, Middle East and Africa. Globally, among all regions, Western Europe has developed as the most dominant region followed by Asia Pacific in global lavender extract market. Increasing usage of oils in skincare products extracted from lavender flower coupled with rise of lavender extracts in processed food has strengthened the growth of global lavender extract market and hence is projected to significantly expand the revenue contribution of the market over the forecast period.
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Global Lavender Extract Market: Growth Drivers
The global lavender extract market driving factors are increasing demand for natural ingredients of lavender extracts in processed foods is important driving factor. Major driver behind increasing demand of lavender extracts in current market scenario is due to its fragrance and flavored eminence. Nowadays consumers are mostly influenced towards that product which has natural quality, organic in nature and also good for their health, due to which it has higher demand among growing economies of world. On the other side as per the current market trend, lavender extract oil is trending in market because of its wide application in body care and beauty care products. This oil is mostly used in body creams, lotions, soaps, perfumes and many other cosmetic products. In addition to this, lavender extract oil is also gaining demand from specialty food industry where consumers preferred to buy food and beverages which are rich in terms of natural ingredient, natural flavor, taste, aroma etc.
Global Lavender Extract Market: Players
Some of the key players identified across the value chain of the global Lavender extract market includes Young Living Essential Oils, TERRA, NOW Foods, Ovvio Oils, Enio Bonchev, Alteya Group, Alpha Aromatics, Mother Herbs Private Limited, Sydney Essential Oil Co. Pty Ltd and NHR Organic Oils and others. The companies are expected to expand their business by enhancing their product portfolio in global Lavender extract market. The companies are projected to frame certain strategies in future in order to gain the competitive advantage in global lavender extract market till 2025.
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