FactMR has actively published a new research study titled "High-End Consumer Preference towards Bergamot Oil Market Likely to Boost Growth during 2017-2022" to its broad online database. This assessment works to discourse the major trends, opportunities and drivers motivating the bergamot oil market during the period from 2017-2022. The insights structured for presenting the target market are procured from both primary research and secondary research, and are utilized for validation that is valuable to investors, manufacturers and new entrants. As per research findings, the global bergamot oil market is expected to showcase impressive growth in CAGR during the period until 2022.
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The bergamot oil market place continues to be dominated by a few exporters as the main growing areas are concentrated in three countries – Italy (Calabria), Ivory Coast, and Brazil. Due to the nature of the product, bulk of bergamot is exported from these three countries to manufacturers all over the globe. The bottlenecks in access to raw material continue to pose challenges for bergamot oil manufacturers where pricing is dictated by a handful of players.
Bergamot oil is being actively explored by the supplement industry recently. Multiple phenolic compounds found in bergamot oil deliver anti-oxidant, anti-inflammatory and cholesterol-lowering properties. The latter property is explored in nutraceuticals for developing cardio-protective supplements. A number of bergamot formulations in the form of supplements are available in the bergamot oil market or are in pipeline of clinical approvals.
Use of bergamot oil as a perfume ingredient in the fragrance industry is highly valued since older times. Along with the fragrance, the bergamot oil has disinfectant properties and the combination of these properties are explored in the fragrance industry to manufacture fragrance oils that are used in the production of perfumes, deodorants, aromatherapy oils, air fresheners, cosmetics, skin care products and scented candles.
Approximately 4000 single fragrance ingredients including bergamot oil used in the fragrance industry are monitored through nation-specific regulations. Recent changes in the EU cosmetic legislation and future uncertainty of bergamot oil’s categorization under safe natural fragrance ingredients is expected to present challenges to the bergamot oil market in Europe. If excluded from the cosmetics category, the bergamot oil market in Europe like is likely to witness an upward growth during the assessment period.
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Bergamot oil have been thoroughly investigated by the scientific community for their health benefits. Some of the active ingredients of the bergamot oil are studied to deliver anti-microbial, sedative and anxiolytic properties that are used for the treatment of upper respiratory tract disorders, depressive disorder and hyperhidrosis among others. The pharmaceutical industry also utilizes bergamot oil to absorb the unpleasant smells of medicinal products in addition to its health benefits. In addition, bergamot oil has been added to various country’s official pharmacopoeias, thereby propelling the growth of the bergamot oil market.
Use of essential oil in therapeutics is strictly monitored by NAHA and New Direction of Aromatics does not recommend ingestion of essential oil as therapeutic. Further, although bergamot oil is enlisted in the EU legislation of cosmetics, strict monitoring and frequent update of the safe natural fragrant ingredient list continue to pose challenges of compliance to manufacturers. On the other hand, compliance with regulatory standards can increase product transparency and help manufacturers to improve their brand image in the bergamot oil market.
A dashboard view of the key stakeholders in the bergamot oil market is provided in the competitive landscape section. An exhaustive information regarding bergamot oil key producers, SMEs and suppliers is provided in the company profiles section. key companies profiled in the bergamot oil market report include Fischer S/A - Com. Ind. e Agricultura (Citrosuco Paulista SA), Citromax Flavors, Inc. (Citromax S.A.C.I.), Citrus and Allied Essences Ltd., Bontoux S.A.S., Lionel Hitchen Essential Oils Ltd., Citrus Oleo, Symrise AG, Young Living Essential Oils LC, Mountain Rose Herbs, Inc., and do Terra International.
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High-End Consumer Preference towards Bergamot Oil Market Likely To Boost Growth during 2017-2022
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