Cedrus Atlantica Bark Oil Market size (2023 – 2030)

Global Cedrus Atlantica Bark Oil was estimated at $340.6 Million in 2022 and is projected to reach the value of $594.02 Million in 2030 growing at a CAGR of 7.2% in the forecast period of 2023 -2030.

Cedrus Atlantica Bark Oil or Cedarwood oil is a substance derived from the needles, leaves, bark, and berries of cedar trees. There are several different kinds of cedars, including western red cedar, Spanish cedar, Alaskan yellow cedar, and eastern red and white cedar. The most widely used kind of cedar is an evergreen conifer called the eastern red cedar

Cedarwood Essential Oil's sweet and woody fragrance promotes stress relief and comfort. Its energizing scent deodorizes indoor environments, repels insects, and has anti-fungal properties. Its invigorating quality improves cerebral activity, while its calming property relaxes the body, enhancing concentration. The combination of these properties makes Cedarwood essential oil a valuable addition to any home while decreasing hyperactivityCedarwood's calming aroma is renowned for its ability to alleviate stress and relieve tension, leading to improved rest and a clearer mind. This, in turn, fosters high-quality, restorative sleep that aids in repairing the body.

Cedarwood oil is effective in depression and is used in the spa & relaxation industry. The World Health Organization reports that 280 million people worldwide are experiencing depression, increasing demand for cedar oil. Cedarwood's antiseptic properties protect against fungal infections, causing skin damage. general health when used medicinally. Its anti-inflammatory qualities make it a good choice for treating the discomforts of muscle soreness, joint pain, and stiffness, and its antispasmodic qualities aid to relieve coughs as well as spasms brought on by digestion, respiratory conditions, nerves, and menstrual cramps. The health and function of the organs, particularly the brain, liver, and kidneys, are known to be supported by cedarwood, which is used as a tonic for overall well-being. Global Cedar's Oil Market growth is driven by increasing demand in industries like cosmetics, skincare, aromatherapy, pharmaceuticals, and personal care products.

Global Cedrus Atlantica Bark Oil Market Drivers:

The growing number of Spa and Aromatherapy Centers is fueling the growth of the Global Cedrus Atlantica Bark Oil Market

The demand for essential oils usually in spa and aromatherapy centers is one of the major driving forces for increasing the demand for essential owing to their relaxing effects and rejuvenating properties. In the US by 2027 the size of the global spa market is estimated to reach $133 billion. Such a high number of spas and a hike in visitors fuel the growth of the Global Cedrus Atlantica Bark Oil Industry over the forecast period 2022-2030.

Medicinal use of Cedrus Atlantica for treating various issues including depression is another factor contributing to the growth of Cedrus Atlantica Bark Oil Market.

Cedarwood oil's antiseptic, anti-inflammatory, diuretic, anti-fungal, antispasmodic, and insecticidal properties make it a popular ingredient in various consumer products. It's also effective in depression and is used in the spa and relaxation industry, driving demand across various industries.

Global Cedrus Atlantica Bark Oil Market Challenges:

The global cedarwood market faces challenges due to high costs, alternative products, and counterfeit products. The over-exploration of natural resources and commercial plantation of certain varieties have led to the cedar plant being listed on the IUCN red list, with its population decreasing by over 20%. The market growth is hindered by the availability of raw materials for producing cedar oil. The current price of cedar in India is Rs.2,500/ft cu. Such low availability of raw materials and their high price may limit the growth of the Global Cedrus Atlantica Bark Oil Market.

Global Cedrus Atlantica Bark Oil Market Opportunities:

The integration of digital technologies and data-driven solutions is revolutionizing supply chain management through blockchain, the Internet of Things, and data analytics. This enables stakeholders to track the entire supply chain, ensuring transparency, traceability, and quality assurance. Consumers are increasingly concerned about their environmental and social impact, leading to a growing demand for sustainable cedarwood oil with organic, fair trade, or sustainable sourcing certifications. Suppliers who demonstrate responsible sourcing practices and provide certified cedarwood oil gain a competitive advantage in the market.

COVID – 19 impact on the Global Cedrus Atlantica Bark Oil Market:

The Covid-19 pandemic had minimal impact on the Cedarwood oil sector, but government lockdowns caused production shutdowns, supply chain disruptions, and decreased exports. China's significant supply hampered cedarwood oil imports into European countries. However, the medical properties of cedarwood oil have resulted in a surge in demand in North America and Europe

Global Cedrus Atlantica Bark Oil Market Recent Developments:

• In September 2022, Green Goo has recently introduced a new plant-based skincare collection for the face and body. The collection includes hydrating face and body wash, hydrating face and body serum, and repairing face and body serum, all crafted with the pure essential oils of cedarwood and lavender.

• In October 2021, Alo Yoga launched 6 essential oils Breathe + Spa, Sleep + Downshift, Cleanse + Detox, Awaken + Center, Energize + Fresh and Chill + Unwind at $18 for each piece and & $75 for entire collection

• In August 2020, Young Living the world's leading provider of essential oils announced a series of new products and product lines in the home, family, and self-care group during its virtual International Grand Convention.

CEDRUS ATLANTICA BARK OIL MARKET REPORT COVERAGE:

Global Cedrus Atlantica Bark Oil Market Segmentation:By Technique

• Steam Distillation

• Carbon Dioxide Distillation

• Cold Press

The Steam Distillation segment held a dominant market share in the year 2022 and is estimated to grow with the fastest CAGR over the forecast period 2023-2030. This can be attributed to the ability of the technique to produce oil on a commercial scale and its high oil yield from raw materials. The steam distillation process is mostly used to extract essential oils as its phenolic bio compound evaporates with steam and condenses in oil. Such application of steam distillation for commercial extraction of essential oils drives the growth of the Global Cedar Oil Market share over the forecast period 2023-2030.

Global Cedrus Atlantica Bark Oil Market Segmentation: By Application

• Cosmetics and Skincare

• Toiletries

• Aromatherapy

• Others

In 2021, the Cosmetic & Skincare segment held a dominant market share due to the widespread use of cedar oil in cosmetic products like shampoo, face cleansers, deodorants, and conditioners. Bathing Culture introduced Mind & Body Wash scent in January 2022, while Cathedral Grove infused cedar oil in Cathedral Grove. This increased popularity and popularity drive the growth of the Global Cedar Oil Market share. However, Aromatherapy is estimated to grow with the fastest CAGR of 7.3% over the forecast period 2023-2030. Owing to the growing demand for cedar oil in aromatherapy, it helps relieve pain, stress, and anxiety improves sleep, and has cleansing properties. Also, it is beneficial to enhance concentration, decrease hyperactivity, reduce harmful stress, ease tension, and clear the mind. Owing to such properties of cedar oil its demand for aromatherapy is increased and fuels the growth of the Global Cedar Oil Market Share over the forecast period 2023-2030.

Global Cedrus Atlantica Bark Oil Market Segmentation: By End–Users

• Spa and Relaxation centers

• Pharmaceuticals

• Others

The spa and relaxation segment accounted for the largest share in 2022, contributing to more than two-thirds of the Global Cedrus Atlantica Bark Oil Market, and is estimated to maintain its lead position during the forecast period. However, the pharmaceuticals segment is projected to portray the highest CAGR from 2023 to 2030.

Global Cedrus Atlantica Bark Oil Market Segmentation: By Region

• North America

• Europe

• Asia-Pacific

• South America

• Middle East & Africa

North America dominates the cedar oil market with a 34% market share in 2022. Runnels County and Taylor are the leading producers and consumers, with Runnels County holding 74.91% and Taylor 12.69%, respectively. The Asia-Pacific region is estimated to show the fastest growth in terms of CAGR from 2023-2030 owing to increasing demand in China and India. The increasing population coupled with upsurging numbers of aromatherapy centers and spas & body massage centers in the region fuels the growth of the Global Cedrus Atlantica Bark Oil Market Size over the forecast period 2023-2030.

Global Cedrus Atlantica Bark Oil Market Key Players:

1. Essential oil In.

2. Finetech Industry Limited

3. Foreverest Resources Ltd.

4. Neptune Wellness Solutions

5. Mother Herbs (P) Ltd.

6. Orchid Chemical Supplies Ltd.

7. Young Living

8. A.G. Industries

9. Falcon Essential Oils

10. SVA Organic