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The global thyme oil industry is being driven by the increasing product demand from various application sectors. Thyme oil is extensively utilised as a flavouring agent in the food industry to prepare products like syrups, beverages, baked goods, sweets, and others. It is also used in pharmaceutical industry as a major ingredient in syrups and other formulations to treat digestive issues, among others. Based on nature, the organic segment is expected to witness a significant growth rate over the forecast period owing to the growing consumer awareness regarding the harmful effects of chemicals utilised in conventionally sourced thyme oil.
The growing R&D activities around thyme oil and the expanding applications of the product are expected to further aid the industry growth. The manufacturers are focusing on launching plant based cosmetic products to grab consumer attention. Further, thyme oil is also finding use in products like mouthwashes and elixirs as well as in ointments due to its favourable properties. The growth of the e-commerce industry and the easy availability of thyme oil through online platforms like Amazon.com, Inc. (NASDAQ: AMZN) and Alibaba Group Holding Ltd (NYSE: BABA) are expected to significantly contribute to the market growth over the forecast period.
Market Breakup by Nature, Type, Application, Distribution Channel, and Region:
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The major players in the global thyme oil market are Young Living Essential Oils, Ultra International B.V., NOW Health Group, Inc, Berjé Inc., and Edens Garden, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
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