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Essential Oil Manufacturing in the US Industry Market Research Report Now Available from IBISWorld
Date:9/17/2013

Los Angeles, CA (PRWEB) September 17, 2013

Favorable shifts in consumer demand and market expansion have helped the Essential Oil Manufacturing industry thrive in the five years to 2013. “Disposable income has increased each year since experiencing a recessionary decline in 2009, contributing to downstream demand from several key industries, including soap manufacturers, cosmetic and beauty product manufacturers and cleaning product manufacturers,” according to IBISWorld industry analyst Jesse Chiang. Furthermore, a growing consumer shift to natural, eco-friendly products is also contributing to revenue growth. As a result of these trends, demand for essential oils increased an annualized 1.3% from soap and cleaning manufacturers and an annualized 1.6% from cosmetic and beauty product manufacturers in the five years to 2013. Imports have captured much of the domestic demand in the five years to 2013, however, increasing at an average annual rate of 4.6%. Over the five years to 2013, industry revenue has grown an average of 2.6% annually to $1.2 billion, including a 0.9% increase rate in 2013.

Additionally, operators in the Essential Oil Manufacturing industry have continued to expand to new markets in the five years to 2013, contributing to industry growth. “Manufacturers have made significant investments in developing and researching essential oils and essential oil products that may act as remedies or provide relief for different ailments,” says Chiang. By diversifying and entering the medical and homeopathic market, essential oil manufacturers have
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