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Anthopogon Oil Market to Record an Exponential CAGR by 2024
Posted: Dec 19, 2017
Anthopogon is an aromatic medicinal herb whose stems and leaves are broadly use in Tibetian herbalism. Its botanical name is Rhododendron anthopogon whereas commonly known as sonpati. Anthopogon is sweet, bitter and strigent to taste and release heat. Though it is found in North American and European region but is native to the Himalaya ranging from East Asia to Western China. It blossoms at the hillsides of Bhutan to mid Nepal, harvested in wild and is known for its medicinal and cosmetic beneficiaries. All parts of this shrub is vital to use; flowers and leaves are used as a tea to cure digestive system. Its Oil is extracted by steam distillation of aerial part of anthopogon shrub which is further used in perfumery, cosmetics, soaps, bath oils, shampoos, creams and many others usage. More than 80% of anthopogon oil is exported to Europe and North America. The global anthopogon oil market is anticipated to expand with an impressive CAGR over the forecast period.
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The rising demand of aromatherapy coupled with growing applications for fragrance and flavors in food and beverages, medicinal usage and personal care is encountered as the major factors that drive the market of anthopogon oil. Unlike most conventional drugs and medicines, naturally extracted oil, anthopogon carry no detrimental side effects therefore consumers’ reliability increases towards natural product, increasing demand for natural care product line and pleasant scented fragrances in cosmetic, spa, perfumes and relaxation application rises demand and expectations worldwide. Rapid industrial growth and increasing disposable income of consumers are also fueling the market of anthopogon oil worldwide.
Although demand and necessity of anthopogon oil in the essential oil market can be seen broadly, but the major factor which hamper the market particularly for anthopogon oil is the rising concern of shortage in resource cultivation, as an excessive amount of plant material is required to prepare single ounce of oil. Similarly, many other challenges such as expensive production process, high capital investment and government certification for trading the herbs are some factors that hinder the market growth.
Based on the geographies, anthopogon oil market is segmented into seven regions - North America anthopogon oil market, Latin America anthopogon oil market, Eastern Europe anthopogeon oil market, Western Europe anthopogeon oil market, Asia Pacific excluding Japan anthopogon oil market, Japan anthopogon oil market and the Middle East & Africa anthopogon oil market. Owing to rising awareness and growing demand for medicines, natural cosmetics and beauty products among youth and vast geriatric population of countries such as France, Germany, UK, Spain and Italy made Eastern and Western Europe dominating region in the market of anthopogon oil. High disposable income, governmental subsidies and tax benefits encourage production and application of anthopogon oil accelerates its market in North America region. Asia Pacific excluding Japan is an emerging region because of the rapid industrial and disposable income growth in the developing countries such as India, Chian, Vietnam and Thailand, this growth is fueling the market of anthopogon oil including other essential oil.
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Some of the market players accounting on anthopogon oil market includes Sydney Essential Oils, Farotti Essenze, Biolandes, The Lebermuth Company, HRF, doTerra, Essential Oils, Young Living Essential Oils,, Sydella Laboratoire, Moksha Lifestyle Products, Falcon and Ungerer Limited among others
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