Thyme Oil Market: Potential Growth, Challenges, Attractive Valuation

Introduction

Thyme oil is extracted from the Thyme (Thymus vulgaris) which is extracted from medicinal herb and is a type of volatile oil. Thyme oil is extracted by steam distillation process of the thyme plant which is used mostly in pharmaceutical and perfume industries. Thyme oil has colorless or light yellow appearance. Thyme oil consists of 90% of terpene hydrocarbons which is used in oleochemical industries.

Thyme oil also contains small amounts of a variety of aromatic ethers and phenolic compounds such as elemicin, myristicin, methyl eugenol and safrole which is used in variety of aromatic-based products. Thyme oil is widely used as a flavoring agent in food products such as syrups, bakery products, beverages, sweets, etc. Thyme oil is also used in pharmaceutical and cosmetic industries and as a major ingredient in many syrups and beverages. Thyme oil is also used in treating digestive and nervous system of the individual.

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Global Thyme Oil: Market Segmentation

The global Thyme oil market is segmented on the basis of type, distribution channel, end user, application and region. The Thyme oil is primarily used in pharmaceutical formulation products such as lozenges, cough sweets, cough syrups and ointments. The Thyme oil market is segmented on the basis of distribution channel such as supermarket/hypermarket, online stores and retail stores.

The global Thyme oil market can also be segmented as an ingredient in dietary supplements, capsules, and others. The global Thyme oil market is segmented on the basis of end user such as industries, food services and consumers. The global Thyme oil market is segmented on the basis of application such as pharmaceuticals, cosmetics, food products, fragrance, and chemical industrial uses.

Thyme oil is also used in aromatherapy, mouthwashes and elixirs as well as in ointments. Hence, the global Thyme oil market is expected to significantly increase the revenue contribution over the forecast period.

Global Thyme Oil Market: Regional Outlook

Geographically, the global Thyme oil industry can be divided by major regions which include North America, Latin America, Latin America, Europe, Asia Pacific, and Middle East and Africa. Globally, among all regions, Asia Pacific has developed as the dominant region in global Thyme oil market followed by North America.

Growing demand for Thyme oil products as a result of increasing usage of Thyme oil in various industries, has strengthened the growth of global Thyme oil market and hence is projected to significantly expand the revenue contribution of the market over the forecast period.

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Global Thyme Oil Market: Growth Drivers

The global Thyme oil market major driving factors are increasing demand of Thyme oil in cosmetics industry for skincare products coupled with rising number of Thyme oil based dietary supplements and capsules are expected to significantly increase the revenue contribution of the global Thyme oil market over the forecast period. Many consumers are using Thyme oil in various pharmaceutical and chemical products.

Thyme oil is mainly used in medicinal supplements as it contains various properties such as antiseptic, helps in treating diseases related to digestive and nervous system. Thyme oil is widely used in fragrance industry as a component to impart aroma in products such as lotions and perfumes, soaps, and detergents. Hence, the global Thyme oil market is expected to observe robust growth over the forecast period.

Global Thyme Oil Market: Key Players

Some of the key players identified across the value chain of the global Thyme oil market includes Aromex Industry, Edens Garden, Now Foods, Reho Natural Ingredients, Frutarom, Rakesh Sandal Industries, Berjé Inc., VDH Organics, The Good Scents Company, Spring Thyme Company, Ultra International B.V. and others.

The companies are expected to expand their business by enhancing their product portfolio in global Thyme oil market. The companies are projected to frame certain strategies in future in order to gain the competitive advantage in global Thyme oil market till 2025.

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