Product Code: ETC110083 | Publication Date: Jul 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 |
The India clove leaf essential oil market import shipments exhibited a steady expansion with a CAGR of 5.7% from 2020 to 2024. Notably, there was a significant growth spurt from 2023 to 2024, registering a growth rate of 23.6%. The market demonstrated strong momentum, indicating a robust upward trend during the period under review.
The India clove leaf essential oil market is projected to grow at a CAGR of over 6.4% during the forecast period (2025-2031). This growth can be attributed to the increasing demand for natural products in cosmetics and personal care, rising awareness about health benefits associated with clove leaf essential oil, etc.
India clove leaf essential oil market is driven by the rise in demand for natural ingredients and growing awareness among consumers about their health benefits. The increasing focus on personal grooming, rising disposable income, and a surge in the use of aromatherapy products are other factors which are expected to drive the India clove leaf essential oil market. Additionally, increase in research & development activities to develop cost-effective technologies have further opened up new opportunities for manufacturers of India Clove Leaf Essential Oil. Furthermore, government initiatives such as Make In India program has encouraged domestic manufacturing resulting into increased production capacities and availability of raw materials at competitive prices which is projected to propel the growth of this industry over the forecast period.
Fluctuations in Prices due To Shortage or Surplus Crop Production Levels: The price fluctuations caused by a shortage or surplus production levels may limit the growth potential of this market. Additionally, the lack of proper storage facilities also adds volatility to prices as they tend not to be able to store large quantities when supply exceeds demand. As a result, manufacturers find it difficult to plan and prepare their inventory accordingly.
Some key players operating within India Cloves Leaf Essential Oil Market include AOS Products Pvt Ltd., Aroma Magic Pvt Ltd., Centaur Pharmaceuticals Pvt Ltd., Floracopeia Inc., Le Labo Fragrances LLC, Mountain Rose Herbs Inc., Natures Garden Inc., Plant Therapy Essential Oils LLC, Rocky Mountain Oils LLC, Young Living Essential Oils Co..