Davana Oil Market: Outlook
Davana is an aromatic herb native to India. It is xerophytic in nature. Davana oil is extracted from the flowers of the davana plant through steam distillation. Botanically, davana oil is known as Artemisia pallens oil. Davana oil is widely used in perfumes and as a flavouring ingredient throughout the world. The odour of davana oil is fruity and fresh with the hints of strawberry, blackcurrant and vanilla. Davana oil is used as an anti-depressant and has antiseptic & antiviral properties. These therapeutic properties of davana oil are boosting the demand for the same in the healthcare industry. In the Middle East and Europe, the demand for davana oil is very high as it is used in perfumes and to impart flavour to beverages.
Uses of davana oil in flavour, fragrances and medicines
Davana oil is a herbaceous product that is widely used in food, perfumes and cosmetic products. Davana oil is also used to for the treatment of various health problems, which include depression and viral diseases. It also offers antiseptic properties and acts as a mild insect repellent. It is said that davana oil smells different on different people. As davana oil can be used in a variety of food products and perfumes as a source of flavour and fragrance, its demand has increased significantly, which is expected to boost the davana oil market in future. With the increasing demand for davana oil, several manufacturers in the cosmetic industry are also incorporating davana oil into their various personal care products. This has enabled the local manufacturers of davana oil-based skin care products to expand and reach the global market, which is also expected to boost the davana oil market.
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Global Davana Oil Market: Segmentation
On the basis of source, the global davana oil market has been segmented into:
- Organic
- Conventional
On the basis of end use, the global davana oil market has been segmented into:
- Food Industry
- Bakery
- Jam and Jellies
- Sweets
- Beverages
- Cosmetic Industry
- Pharmaceutical Industry
- Others (Tobacco and Perfume Industry)
On the basis of distribution channel, the global davana oil market has been segmented into:
- B2B
- B2C
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Stores
- Online Stores
Global Davana Oil Market: Key Players
Some of the major manufacturers and exporters operating in the global davana oil market are BOS Natural Flavors (P) Ltd., AOS Products Pvt. Ltd., SALVE PHARMACEUTICALS PRIVATE LIMITED, SILVERLINE CHEMICALS, KATYANI EXPORTS, Shanghai Ruizheng Chemical Technology Co., Ltd. and CHEMZ CHEM (INDIA) PRIVATE LIMITED, among others.
Opportunities for Market Participants
The consumption of cosmetics, perfumes and fragrances is increasing significantly worldwide due to rapid urbanisation, owing to which the consumption of davana oil is expected to increase in the cosmetic and fragrance industries as Davana oil is an excellent ingredient for perfumes and cosmetic products. Hence, the davana oil market is estimated to witness significant growth worldwide during the forecast period. Moreover, Davana oil is used as a therapeutic herb for various problems such as depression and anxiety. This presents a growth opportunity for the manufacturers of davana oil in these countries. Apart from the above applications, davana oil is also used as a flavouring ingredient in the food industries. Hence, industries are likely to focus on producing and exporting davana oil across the globe, which is expected to expanding their global presence in the davana oil market. Owing to the above-mentioned factors, the global davana oil market is expected to witness significant growth over the forecast period.
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Global Davana Oil Market: A Regional Outlook
Davana is native to India, hence, the major producers and exporters of davana oil are located in India and China. Davana oil has high demand in Indian subcontinents and nearby regions due to its usage in perfumes and its therapeutic benefits. Among all the regions, Europe is the largest importer of davana oil in Europe as davana oil is used in this region on a large scale as a flavouring agent in beverages and foods. In North America, davana oil is widely used in the flavour and fragrance industries. In the Asia Pacific, the increasing demand for davana oil in the food industries as a source of flavour has contributed to the growth of the davana oil market. In the Middle East & Africa, davana oil is consumed owing to its usage in perfumes. Considering all the above factors, the global davana oil market is expected to witness significant growth during the forecast period.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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