The rise in price of high quality aniseed oil products is anticipated as a restraining factor for the aniseed oil market over the forecast period.
The increased awareness among consumers regarding health benefits of natural plant based products and its safety in use is the major factors expected to boost market demand for aniseed oil market. Another factor expected to lead the market is changing consumer preference and lifestyle, with a higher natural product acceptance. Aniseed oil blends well with other essential oils like, sandalwood, lavender and coriander which is expected to drive the perfume and fragrance market during the forecasted period.
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Aniseed oil, derived from seeds of a star shape fruit also known as Anis, Pimpinella anisium, Anisto (Spanish) has been traditionally used as a home remedy in Dominican healing tradition. Aniseed oil is extracted by steam distillation process and has been used since 1800’s. It has also been used as fragrance in food, creams, perfumes, soaps.
The oil has been granted the status of GRAS (Generally recognized as safe) substance by USFDA and thus is available as therapeutic grade essential oil. The oil blends well with ginger, lemon, lavender and orange which is expected to drive the demand from perfume and fragrance market during the forecasted period. Aniseed oil is added in food preparations for its flavor and tea preparations, and also used as a home remedy for cough and respiratory stimulant.
The global aniseed oil market is segmented on the basis of application & distribution channel, and region. Based on its application, the global aniseed oil market is segmented as personal care and cosmetics, pharmaceutical, food and others which include massage oil etc.
The pharmaceutical segment is expected to dominant market over the forecast period, attributed to the increased demand of natural plant based home remedies. Personal care and cosmetics market segment is also expected to grow due to wide application of aniseed oil in fragrances and perfumes, soaps and creams. Aniseed oil is a well-accepted condiment, also used in various recipes throughout the globe and thus the food application market segment is also expected to grow with rise in demand of the same. Aniseed oil due to its aromatic nature is used with dilution in massage therapy, thus increasing popularity in aromatherapy. The market is expected to have a steady growth over the forecast period.
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Aniseed oil Market Regional Outlook:
On the basis of regions, the aniseed oil market can be segmented into seven key regions as; North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan and Middle East and Africa. Asia Pacific region mainly China has the major share of global aniseed oil market which is expected to grow at a steady rate. Europe regional market is expected to rise at a relatively higher growth rate over the forecast period, attributed to the increased demand driven by consumers increasing trust on natural plant based products. The installation of large process industries in the region of Western Europe is expected to drive the market of aniseed oil.