According to the latest report by IMARC Group, titled "Tea Tree Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," the global tea tree oil market reached a value of US$ 51.0 Million in 2022. Tea tree oil, or melaleuca oil, is an essential oil made from steaming the leaves of the Australian tea tree. It is known to be antibacterial in nature and commonly used to treat acne, athlete's foot, nail fungus, lice, and insect bites. It is combined with other drugs for treating bacterial or fungal skin conditions. It contains various compounds, including terpinen-4-ol, that kill certain bacteria, viruses, and fungi. It is a natural remedy for treating bacterial and fungal skin conditions, preventing infection, and promoting healing. It is also antifungal and antioxidant in nature, due to which it helps reduce inflammation and enhance healing. As a result, it is widely available in multiple over-the-counter skin products, including soaps and lotions.
Global Tea Tree Oil Market Trends:
The global market is majorly driven by the increasing product demand in the pharmaceutical industry to produce different products that can be used to treat infections. In line with this, the rising demand for natural cosmetic products due to lesser side effects is significantly contributing to the product demand. Furthermore, the growing preference for natural or clean-label cosmetic products among the masses is positively influencing the market. Apart from this, the escalating awareness regarding the health benefits of tea tree oil is creating a positive outlook for the market. Moreover, the increasing product usage as a hand sanitizer and natural deodorant is catalyzing the market. Besides, the rising product adoption to treat cutaneous infections is propelling the market. Additionally, the easy availability of tea tree oil-infused products across various distribution channels is acting as another major growth-inducing factor. Some of the other factors driving the market growth include the inflating disposable income levels of individuals, heavy investments by the market players for producing tea tree oil with better efficacy, and the high demand for personal care products. On account of the factors above, the market is anticipated to reach a value of US$ 69.0 Million by 2028, exhibiting a CAGR of 4.96% during 2023-2028.
- On the basis of the grade, the market has been categorized into pharma/cosmetic grade and therapeutic grade.
- Based on the distribution channel, the market has been classified into supermarkets and hypermarkets, direct sales, departmental stores, online stores, and others.
- Based on the end user, the market has been segmented into FMCG manufacturers, cosmetic companies, pharmaceutical companies, and others.
- On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market. Some of the key players include Coromandel Mountains Tea Tree Oil Company, G.R. Davis Pty Ltd., Integria Healthcare, Jenbrook Australia, Main Camp Natural Extracts Pty Ltd., Maria River Plantation, Naturally Australian Tea Tree Oil Pty Ltd (NATTo), NOW Foods, Oribi Oils (Pty) Ltd., T.G.Cassegrain & Co Pty Ltd., The Lebermuth Co. Inc. and Young Living Essential Oils LC.
|Base Year of the Analysis
||Grade, Distribution Channel, End User, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Coromandel Mountains Tea Tree Oil Company, G.R. Davis Pty Ltd., Integria Healthcare, Jenbrook Australia, Main Camp Natural Extracts Pty Ltd., Maria River Plantation, Naturally Australian Tea Tree Oil Pty Ltd (NATTo), NOW Foods, Oribi Oils (Pty) Ltd., T.G.Cassegrain & Co Pty Ltd., The Lebermuth Co. Inc. and Young Living Essential Oils LC
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