Essential Oil Market

Essential Oil Market Segmentation By Product Type (Orange, Corn Mint, Eucalyptus, Citronella, Pepper Mint, Lemon, Clove Leaf, Lime, Spearmint and Others); By Application (Medical, Food & Beverages, Spa & Relaxation, Cosmetics, Cleaning & Home and Others) - Global Demand Analysis & Opportunity Outlook 2027

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Report ID: 1299 | Published On: Apr 06, 2022

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.


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