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. It is one of the expensive and versatile product among all essential oils. This product is gaining demand from cosmetic sector as it is used as a fragrance and in food industry it is used for flavoring purpose. Lavendula oil also has application in pharmaceutical industry where it is most used for therapies and to cure with other health diseases like diabetes, cold, cough etc.
Market Dynamics of Lavandula Oil:
Major driver behind increasing demand of lavendula oil 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, lavendula 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, lavendula 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.
Market Segmentation of Lavandula Oil:
Lavendula oil market is segmented on two different basis as on the basis of application and distribution channel. 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 lavendula oil on pie, it was assessed that cosmetic industry acquires majority of share in terms of volume followed by the demand of lavendula oil in food and beverage industry. Primary reason behind its increasing demand of lavendula oil in global level market is due to its richness in natural quality and organic nature. Lavendula 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 of lavendula oil is also growing from food and beverage and pharmaceutical industry. In food and beverage industry, lavendula oil has primarily demand as a food flavoring like in dairy products, tea, culinary herb, jelly etc. and in pharmaceutical industry, lavendula oil is used for therapies, dermatitis, diabetes, cold, asthma, insect repellant and for many other purposes.
Regional Outlook of Lavandula Oil Market:
On the basis of regional outlook, lavendula oil market is segmented in seven different regions of world: America, Latin America, Eastern Europe, Western Europe, and Asia-Pacific region, Japan and Middle East and Africa. In lavendula oil market, Western Europe accounts majority of share in terms of volume contribution and from which Bulgaria is expected to be lucrative market in all over the world in terms of production of lavendula oil followed by Asia-Pacific region. On the other side, in terms of consumption North America is expected to be largest consumer of lavendula oil in the world.