An essential oil is a liquid taken from different parts of plants, containing an aroma or a fragrance compound. Essential oils are also called aetherolea, volatile oils or ethereal oils. An essential oil is considered to be ‘essential’ as it contains the essence of the plant, which imparts the fragrance and the aroma to the oil.
Essential oils are mainly used in cosmetics, soaps, perfumes and other personal care products. They are also used in the food and beverage industry to impart aroma to a food product. Further, essential oils are widely used during aromatherapy as they induce relaxation in the body.
Different types of essential oils are available in the market such as cinnamon essential oil, clove essential oil, lemon essential oil, myrrh essential oil, ginger essential oil, cumin essential oil, rosewood essential oil and sandalwood essential oil. Myrrh essential oil has been used for many years in incense and perfumes as it helps promote physical and emotional health and has also been used for healing wounds.
Myrrh is a resin that comes from a tree named Commiphora Myrrha. Myrrh and myrrh essential oil are commonly found in the Middle East and Africa. Traditionally, myrrh essential oil was used for embalming and treating hay fever and as a fragrance, a flavoring agent and an antiseptic to treat wounds and stop bleeding. Myrrh essential oil inhibits the growth of microbes inside the body due to its antimicrobial properties, which subsequently reduces problems caused due to microbial infections.
Myrrh essential oil is used as an effective face cleanser as it helps to moisturize and tighten the skin. It is also used in cosmetics to provide a pleasant fragrance and moisture. Myrrh essential oil is used mainly in aromatherapy as it helps reduce discomfort caused due to respiratory problems and relieves cold, cough, congestion and phlegm. It is also known to stabilize emotions, promote the grounded feeling and shift negative moods. Myrrh essential oil possesses anti-inflammatory properties as it helps sedate inflammation in the case of viral infection and fever. It also has an astringent property, which prevents excessive bleeding from wounds.
Considering the various benefits of myrrh essential oil, the market is expected to have a positive outlook over the forecast period.
Some of the market participants operating in the global myrrh essential oil market identified across the value chain include PRZ, Dève Herbes, Rocky Mountain Oils, LLC, Mountain Meadow Herbs, Inc., Ryaal Essentials, Kazima Perfumers, BrownBoi, Moksha Lifestyle Products, Riya Agro Products, Frankie and Myrrh, Kapco International Ltd., India Essential Oils, Florihana Distillerie, VedaOils, Ambre Blends, Naissance Trading and Alabama Essential Oil Company.
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In 2018, Ambre Blends was featured in most of the health and wellness, cosmetic and personal care magazines such as Organic Spa, New Beauty Magazine, Harper’s Bazaar Australia, glamourmag.com and many other fashion blogs, which helped create awareness among consumers regarding the benefits of myrrh essential oils.
The myrrh essential oil market is pegged to have high potential for growth, owing to the various health benefits of myrrh essential oils. Populations in regions such as Northern America and Latin America use myrrh essential oils on a daily basis. If the same practice is adopted by other regions, the myrrh essential oil market is likely to witness phenomenal growth over the forecast period.
The company follows a modeling-based approach and triangulation methodology to estimate data covered in this report. A detailed market understanding and assessment of the types, forms, ingredients, and end uses of the product segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data are collected at a regional level and consolidated and synthesized at a global level to estimate overall market sizes.