Cananga odorata is recognized as the Cananga tree. It is one of the tropical trees which are native from India, a few parts of Indochina, the Malaysia, Queensland, Philippines and Indonesia, and Australia. Cananga essential oil is made from generally natural pure oil that is extracted by a variety of extraction processes. It is extracted from the aromatic substance, formed by the leaves, roots, flowers, buds, or seeds of the plant and various such substances which have such aromatic fragrances. The increasing application of these oils which are used mainly for high blood pressure, oily skin/hair, insect bites, anxiety, nervous tension, stress, and fragrance. Consequently, the increasing applications of the essential oil in many areas & domains are driving this industry. Cananga essential oil is extracted by various methods including solvent extraction, carbon dioxide extraction, distillation, cold press extraction and others.
Referring to study, “Global Cananga Essential Oil Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use” the leading players operating in the global cananga essential oil market include Penta International Corporation, Augustus Oils Ltd., Charabot & Co., Inc., Berje Inc., Lluch Essence S.L., Bontoux S.A, Robertet, Inc., Fleurchem, Inc., The Lermond Company, Excellentia International, Hermitage Oils, Ultra International, Fleurchem, Inc., Treatt PLC, Sigma-Aldrich. Global cananga essential oil market is fragmented owing to number of players present. This may be endorsed to high capital requirements & maintenance costs. Moreover, existing players are likely to advance their production capabilities, thus sustaining their presence. The leading players are also exploring novel geographies as well as industries through expansions & acquisitions so as to avail an aggressive advantage through combined synergies.
Based on type, cananga essential oil market is segmented into skin care essential oil and oral essential oil. In addition, based on application, market is segmented into skin care, body care and others. The cananga essential oil market is driven by rise in shift of consumers towards natural & organic products, followed by cumulating application of essential oils and increase in adoption of aromatherapy. However, issues related with health problems caused by essential oils and high cost of essential oils may impact the market. Additionally, various health benefits offered by these oils in pharmaceutical & medical applications and growth of end-use industries including personal care & cosmetics, food & beverage, and aromatherapy are leading opportunities for market. Moreover, rise in trend of clean labeling and growth in adoption of essential oils for body massages purposes are key trends for market. Furthermore, high possibility of adulteration & synthetic products development and specified storage & transportation condition leading to the procurement issues as well as additional cost are major challenges for global market.
Based on geography, the North-American region holds major share in global cananga essential oil market owing to growth in technological advancement for production technique across the region. The European and Asian-pacific regions are estimated to witness higher growth rate due to growth in adoption in cosmetic along with food & beverage industry over the forecast period. It is anticipated that global cananga essential oil market will be reached at rapid pace on account of new product launches by regional & universal players during the forecast period.
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Ankur Gupta, Head Marketing & Communications