July 10, 2020
According to the research report titled ‘Global Copaiba Essential Oil Market Size study with COVID-19 impact, by Product Type (Moisturizer, Modifier, Blender and Fixative), by Distribution (Direct and Indirect distribution), by End-use (Cosmetics & personal care, Pharmaceuticals, Aromatherapy and Household) and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global copaiba essential oil market is estimated to witness tremendous growth over 2020-2027.
Copaiba essential oil is an aromatic oil extracted from wild copaiba tree resin. Increase in demand for product from several end-use industries like cosmetics and healthcare owing to consumer awareness regarding herbal supplements will propel the growth of copaiba essential oil market.
Though, increasing prevalence of COVID-19 has adversely impacted various economies, but expansion of healthcare industry in this condition is likely to fuel the demand for copaiba essential oil.
In cosmetics, copaiba essential oil is used in skin care products as it moisturizes dry skin and improves mature skin. It is used as modifier, fixative, and blender in soaps, cleansers and other personal care products. While, in healthcare sector, the product has a huge demand in therapeutics process for treating musculoskeletal diseases like arthritis, muscular aches and swollen joints. Hence, flourishing cosmetics industry and rising pervasiveness of musculoskeletal diseases are expected to drive the market growth during the forecast period. On the downside, strict government norms associated with copaiba essential oil is expected to restrain the market growth during the forthcoming years.
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Based on product type, the market is divided into modifier, blender, fixative and moisturizer. With regards to the end-user spectrum, the market is segmented into aromatherapy, cosmetics & personal care, household and pharmaceuticals. While as per distribution channel, the market is bifurcated into direct and indirect.
Considering the regional overview, copaiba essential oil market is divided into Europe, Latin America, Asia Pacific, North America, and Rest of the World. As per the report, North America is leading in terms of market share due to the increasing awareness among people regarding herbal oil.
Meanwhile, Asia-Pacific market is expected to witness the highest CAGR during the forecast period 2020-2027, owing to booming healthcare and cosmetics industries in the region.
Key players in global copaiba essential oil market are Earthoil Plantations, Elixens America Inc., Indenta Group, Jiangyin Healthway International Trade Co. Ltd., Indukern S.A., Bontoux, Charabot S.A, Berje Inc., Hermitage Oils, and Excellentia International among others.