With increased adoption in various end-use industries including cosmetics and personal care—specifically perfumery, aromatherapy, food processing, and pharmaceutical, demand for patchouli oil is projected to grow.
However, the patchouli oil demand is anticipated to remain elastic as farmers in the Sumatra Region of Indonesia—largest producer of patchouli oil, are making a shift towards other crops owing to price volatility, thereby impacting the overall development of global patchouli market.
However, to reverse such market dynamics associated with patchouli oil, global manufacturers are making notable investment to provide sustainable livelihood to Indonesian farmers of patchouli plants.
According to a new research released by Future Market Insights (FMI), the market for patchouli oils in MEA and developing economies of APAC will record comparatively higher growth than in developed markets.FMI forecasts a steady revenue growth the global patchouli oils market at a sluggish rate of 2.8% during 2018–2028, with the market valuation reaching US$ 67.5 Million by the end of 2019.
In terms of volume, 1,352.2 metric tons of patchouli oil is projected to be shipped by 2019.Patchouli Oil Market Structure AnalysisProduced in region pockets of Indonesia, India, China, Malaysia, and Taiwan, patchouli oil is mostly dominated by regional players including PT Mitra Ayu Adi Pratama, PT Aroma Essence Prima, Nusaroma PT, and Eastern Agencies Aromatics Pvt.
Ltd, accounting for nearly 45-60 percent market share.
With increased adoption in various end-use industries including cosmetics and personal care—specifically perfumery, aromatherapy, food processing, and pharmaceutical, demand for patchouli oil is projected to grow.
However, the patchouli oil demand is anticipated to remain elastic as farmers in the Sumatra Region of Indonesia—largest producer of patchouli oil, are making a shift towards other crops owing to price volatility, thereby impacting the overall development of global patchouli market.
However, to reverse such market dynamics associated with patchouli oil, global manufacturers are making notable investment to provide sustainable livelihood to Indonesian farmers of patchouli plants.
According to a new research released by Future Market Insights (FMI), the market for patchouli oils in MEA and developing economies of APAC will record comparatively higher growth than in developed markets.FMI forecasts a steady revenue growth the global patchouli oils market at a sluggish rate of 2.8% during 2018–2028, with the market valuation reaching US$ 67.5 Million by the end of 2019.
In terms of volume, 1,352.2 metric tons of patchouli oil is projected to be shipped by 2019.Patchouli Oil Market Structure AnalysisProduced in region pockets of Indonesia, India, China, Malaysia, and Taiwan, patchouli oil is mostly dominated by regional players including PT Mitra Ayu Adi Pratama, PT Aroma Essence Prima, Nusaroma PT, and Eastern Agencies Aromatics Pvt.
Ltd, accounting for nearly 45-60 percent market share.