The market size for oregano essential oil was estimated to be US $9 billion in 2020, and it is expected to register a CAGR of 10% during the forecast period of 2023 to 2030.The food and beverage industry's growing desire for natural preservatives as well as the expanding use of essential oils in aromatherapy within the healthcare sector are likely to be the primary drivers of the oregano essential oil market over the next few years. The markets for oregano essential oil are heavily concentrated in the regions of Europe and North America. This is mostly because of the prevalence of the use of this seasoning in the specialised cuisines that are favoured by both Europeans and Americans. People are becoming more inclined to incorporate oregano essential oil into their day-to-day culinary preparations as they become more informed about the oil's positive effects on health.Some of the major players in the market include Zane Hellas, Young Living Essential, Now Health Group, NHR Organic Oils, Plant Therapy, DoTERRA International, Nature's Way Products, Natural Factors Nutritional Products, North American Herbs and Spice, and Baltik Junior.
The Increasing Application of Oregano Essential Oil Across a Wide Variety of Industry Sectors
The food and beverage industry's growing interest in using natural preservatives is contributing to an increase in the demand for oregano essential oil all over the world. It is anticipated that a faster growth rate would be recorded by the market for essential oils and aromatherapy as a result of an increased level of consumer awareness regarding the curative capabilities of essential oils and oils that are used in aromatherapy. The use of essential oils in aromatherapy is expanding in the realm of medicine, which is driving up demand for these oils in the worldwide healthcare and pharmaceuticals industries.
In the field of aromatherapy, oregano oil is considered to be the most effective antibacterial oil. It has the largest concentration of phenol, which is the component that is responsible for the plant's powerful antibacterial action, compared to any other aromatic plant. In the past few years, there has been a significant increase in the demand for oregano essential oil in the pharmaceuticals business across a variety of countries. It is anticipated that this demand wave will continue during the time covered by the forecast.
In recent years, firms in the food and beverage sector have begun adding natural preservatives to processed foods, such as essential oils. These additions are intended to extend the shelf life of the products. This can be related to the growing interest that customers have in purchasing natural items. Carvacrol and thymol are the two primary components that are utilised in the production of oregano essential oil. These components are what give the oil its distinctive aroma as well as its antibacterial and antioxidant capabilities. Because it inhibits the growth of microorganisms, oregano essential oil is used in the food sector as a preservative.
Price Serves as the Largest Constraint Limiting the Market Growth
On the global market, there is an imbalance between the amount of demand and the amount of supply, which results in very variable prices for oregano essential oil. Because of this fluctuation in prices, it is difficult for manufacturers to optimise the pricing of their finished products while also maintaining their profit margins. This generates an inconvenience for manufacturers. Furthermore, due to the high cost of essential oils such as oregano, certain manufacturers of perfumes are compelled to reduce the costs of their formulations by turning to cheaper ingredients such as low-cost natural oils or synthetic oils, which can serve as substitutes for more costly essential oils. This is because essential oils are a key component in the fragrance's aroma. The global market for essential oils, and more specifically the market for oregano essential oil, is facing significant challenges in terms of continuous growth due to price restraints.
Organic Segment Dominates the Market by Source
Organic oregano essential oil segment dominated the market revenues in 2021. The demand in the market is anticipated to be bolstered by the benefits of oregano essential oil, which include the ability to combat germs, treat fungal infections, provide antioxidants, heal wounds, and other similar functions.
Pharmaceutical Remained as the Most Dominant End User Segment
The market is segmented into the pharmaceutical industry, the cosmetics industry, the food and beverage industry, and other end users. In the years to come, it is projected that the demand for oregano essential oils will be driven by the great variety of applications that these oils have.
Europe Continues to be the Global Leader
Europe dominated in terms of market revenues in comparison to other regions in 2021. North America owns the second highest share in terms of revenue. It is expected that Europe will continue its control over the market during the time covered by the projection. The expanding application of oregano oil within the region's culinary sector is driving up demand for the product. It is projected that the Asia Pacific market will experience considerable expansion as a result of the rising utilisation of oregano oil in the region's medicinal and aromatherapeutic practises.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Oregano Essential Oil market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Source
| |
End-use
| |
Distribution Channel
| |
Form
| |
|
Region Segment (2022-2032; US$ Million)
|
Key questions answered in this report
