The global ylang ylang extract market, valued at US$ 37.9 Mn in 2021, is on a promising growth trajectory. According to Transparency Market Research (TMR), the market is anticipated to expand at a compound annual growth rate (CAGR) of 5.6% from 2022 to 2032, potentially reaching US$ 69.1 Mn by 2032. This growth is driven by increasing consumer preference for organic and natural ingredients in various industries, particularly in cosmetics and personal care.
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Regional Insights
East Asia and South Asia are key regions contributing to the market growth, with CAGRs of 7.1% and 6.1% respectively. These regions are witnessing a surge in demand due to rising disposable incomes, urbanization, and increased awareness of natural and organic products. Europe, however, is expected to dominate the market with a share of 29.0% in 2022, driven by the high demand for nutritious food flavoring ingredients and aromatic compounds for personal care.
Market Segmentation
The ylang ylang extract market is segmented based on nature, extraction method, and end-use:
- Nature: The conventional segment holds the largest market share, but the organic segment is expected to grow significantly at a value CAGR of 6.9%. This growth is fueled by the increasing trend of using organic ylang ylang essential oil in cosmetics and personal care products.
- Extraction Method: The solvent extraction process dominates the market, accounting for around 70.7% of the market share in 2022. This method is preferred for its efficiency in extracting the essential components of the ylang ylang flower.
- End-Use: The cosmetics and personal care segment is the largest end-use category, making up about 44.6% of the market share. Ylang ylang extract's popularity as an aromatic compound in perfumery products drives this segment. Additionally, the aromatherapy segment holds the second largest share, reflecting the growing interest in natural therapies and wellness.
Market Trends and Drivers
Several trends and drivers are shaping the ylang ylang extract market:
- Rising Consumer Preference for Organic and Healthy Ingredients: With a growing emphasis on health and wellness, consumers are increasingly opting for products with organic and natural ingredients. This trend is particularly strong in the cosmetics and personal care industries, where consumers seek products free from synthetic chemicals.
- Increasing Demand for Eco-Friendly Products: Environmental concerns are influencing consumer choices, leading to a higher demand for sustainable and eco-friendly products. Ylang ylang extract, known for its natural origin and minimal environmental impact, fits well into this trend.
- Multiple Health Benefits: Ylang ylang extract is recognized for its various health benefits, including anxiety alleviation, blood pressure reduction, and stomach distress relief. Recent research has also highlighted its potential in treating conditions like malaria, asthma, and gout. These health benefits are driving its use in both the food industry as a flavoring agent and in botanical infusions for mood enhancement.
- Advancements in Extraction Technology: Technological advancements in extraction methods are enabling manufacturers to produce high-quality ylang ylang extracts more efficiently. State-of-the-art manufacturing facilities ensure consistent product quality, which is crucial for maintaining consumer trust and meeting regulatory standards.
- Growing Popularity Among Millennials: Millennials, a key consumer demographic, are driving the demand for floral extracts due to their high vitamin and antioxidant content. These extracts, including ylang ylang, are favored for their skin-moisturizing, cleansing, and anti-aging properties.
Market Strategies
Key players in the ylang ylang extract market are focusing on strategic collaborations and technological advancements to strengthen their market position. For instance, Robertet's acquisition of a majority stake in Astier Demarest in August 2021 aims to enhance its leadership in aromatic ingredients through sustainable sourcing. Similarly, HDDES Group is leveraging high-tech machinery and surveillance systems to improve operational efficiency and productivity.
Key Players
Prominent players in the ylang ylang extract market include:
- BOS Natural Flavors (P) Limited
- Falcon Essential Oils
- HDDES Group
- Robertet
- Norex Flavours Private Limited
- Banyan Botanicals
- Firmenich SA
- HERBO NUTRA
- VedaOils
- AG Industries
About Us Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
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