Cananga odorata is also known as the cananga tree, is a large evergreen tropical tree originated in the rain forest of various Asian and South Pacific Islands such as Indonesia, Philippines, Polynesia, Sumatra, Java, and Comoro. The essential oil of Cananga odorata can be extracted by the steam distillation of its fresh flowers called ylang ylang. The essential flower oil has found wide usage in aromatherapy owing to its pleasing fragrance. Cananga odorata (ylang ylang) flower oil has emerged as an essential perfumery ingredient with strong demand in floral and oriental compositions. Ylang ylang flower oil is of high medicinal value due to its properties such as an antidepressant, antiseptic, antiseborrhoeic, hypotensive, aphrodisiac, nervine, and sedative substance. The high growth of cananga odorata (ylang ylang) flower oil is attributable to its perfumery and medicinal applications.
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Market Dynamics of Cananga Odorata (Ylang Ylang) Flower oil:
The market of Cananga Odorata (Ylang Ylang) flower oil is expected to be driven by its high perfumery and medicinal values. Owing to its gentle fragrance, it has found wide application in the perfumes and aromatherapy treatments. It provides various health benefits such as relief from anxiety, stress, blood pressure and depression. The flower oil can also heal the wounds, and treated as a remedy in hair fall. Some of the macro-economic factors such as population growth, recovered GDP, and increased disposable income are fueling the growth of Cananga Odorata (ylang ylang) flower oil market during the reviewed period. Apart from this, rising demand of aromatic flavors in perfumes, shift from synthetic to natural products, and growing emphasis of preventive health care practices among health conscious consumers also propels the growth of Cananga Odorata (ylang ylang) flower oil.
Market Segmentation of Cananga Odorata (Ylang Ylang) Flower oil:
The segmentation of Cananga Odorata (Ylang Ylang) flower oil market is based upon application, and geography. On the basis of application, Cananga Odorata (Ylang Ylang) Flower oil market is segmented into food & beverages, medical, personal care, and others. Cananga Odorata (Ylang Ylang) Flower oil is used as a preservative and flavoring agent in the food and beverages application. The increasing health consciousness of consumers has escalated the demand of Cananga Odorata (Ylang Ylang) Flower oil in the medical segment. The personal care segment is expected to grow at a rapid pace in the Cananga Odorata (Ylang Ylang) flower oil market owing to the rising demand of aromatic flavors as well as fragrances in personal care products such as perfumes and cosmetic products. Additionally, the increased demand of spa and relaxation applications due to the change in life-style is anticipated to fuel the market growth in upcoming years.
Regional Outlook of Cananga Odorata (Ylang Ylang) Flower oil:
On the basis of geography, Cananga Odorata (Ylang Ylang) flower oil market is segmented into five different regions namely North America, Latin America, Europe, Asia-Pacific and Middle East and Africa. The market size of Cananga Odorata (Ylang Ylang) flower oil is expected to be prominent in the European region owing to the rising awareness and increasing demand of cosmetics and beauty products, medicines, and nutraceuticals. Europe was followed by North America to emerge as the second major region in the Cananga Odorata (Ylang Ylang) Flower oil market. Factors such as highly developed industries, increasing per capita income, subsidies and tax benefits from the government, contribute vitally to growth of the market in the North America region. Asia Pacific region is projected to be the fastest growing market owing to the change in life style and increased awareness about health benefits of the products derived from natural sources.
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Key Market Players in Cananga Odorata (Ylang Ylang) Flower oil:
The players in the Cananga Odorata (Ylang Ylang) Flower oil market focuses upon the integration across the value chain to attain cost-benefit ratio in the longer run. Some of the key players in the Cananga Odorata (Ylang Ylang) Flower oil market include Biolandes SAS, doTerra International, Sydney Essential Oils Co., The Lebermuth Co., Inc., Young Living Essential Oils, Farotti Essenze, and Essential Oils of New Zealand, among others.