Cedar Oil Market - Forecast(2024 - 2030)

Cedar Oil Market Overview

Global Cedar Oil Market Size is estimated to reach $441.6 million by 2027 and it is poised to grow at a CAGR of 6.8% over the forecast period of 2022-2027. Cedarwood essential oil is a substance derived from the needles, leaves, bark and berries of cedar trees. There are several different kinds of cedars, including western red cedar, Spanish cedar, Alaskan yellow cedar and eastern red and white cedar. The most widely used kind of cedar is an evergreen conifer called the eastern red cedar, scientific name Juniperus Virginiana L. Cedar oil is used in cosmetic, pharmaceutical and personal care industries owing to its attributes like anti-fungal, anti-inflammatory and antiseptic. The atlas cedarwood oil is mostly preferred in aromatherapy owing to its woody and sweet taste which is sharper than cedarwood oil. Cedarwood oil is effective in depression and is used in the spa & relaxation industry. As per World Health Organisation (WHO) about 280 million people around the world are under depression; which increases the demand for cedar oil. Such growing demand for cedar oil and its application in various industries like cosmetics & skincare, aromatherapy, pharmaceuticals and personal care products fuels the growth of the Global Cedar Oil Market over the forecast period 2022-2027.

Cedar Oil Market Report Coverage

The report: “Cedar Oil Market Forecast (2022-2027)" by Industry ARC, covers an in-depth analysis of the following segments in the Global Cedar Oil Market.

Key Takeaways

Cedar Oil Market: Market Share (%) By region, 2021

Cedar Oil Market Segment Analysis - By Technique

Global Cedar Oil Market based on the technique can be further segmented into Steam Distillation, Carbon Dioxide Distillation and Cold Press. The Steam Distillation segment held a dominant market share in the year 2021 and is estimated to grow with the fastest CAGR of 7.8% over the forecast period 2022-2027. This is owing to the commercial production of oil from this technique and the high yield of oil from raw materials. The steam distillation process is mostly used to extract essential oils as its phenolic bio compound evaporates with steam and condenses in oil. Such application of steam distillation for commercial extraction of essential oils drives the growth of the Global Cedar Oil Market share over the forecast period 2022-2027.

Cedar Oil Market Segment Analysis - By Application

Global Cedar Oil Market based on the application can be further segmented into Cosmetics & Skincare, Toiletries, Aromatherapy and Others. The Cosmetic & Skincare segment held a dominant market share in the year 2021, owing to the extensive use of cedar oil in cosmetic industries for various products such as shampoo, face cleansers, deodorants, and conditioners. For instance, in January 2022, Bathing Culture introduced Mind & Body Wash scent and Cathedral Grove with infused cedar oil in the market. Such use of cedar oil in cosmetics products and their increasing popularity among consumers drive the growth of the Global Cedar Oil Market share. However, Aromatherapy is estimated to grow with the fastest CAGR of 7.3% over the forecast period 2022-2027. Owing to the growing demand for cedar oil in aromatherapy, it helps relieve pain, stress and anxiety improves sleep and has cleansing properties. Also, it is beneficial to enhance concentration, decrease hyperactivity, reduce harmful stress, ease tension and clear the mind. Owing to such properties of cedar oil its demand for aromatherapy is increased and fuels the growth of the Global Cedar Oil Market Share over the forecast period 2022-2027.

Cedar Oil Market Segment Analysis - By Geography

North America held a dominant market share of 34% in the year 2021, as it is the leading producer and consumer of cedar oil. According to the Ballinger TX organization, in February 2022, Runnels County held 74.91% of cedar oil production and Taylor held 12.69% of total production. Such high production and increasing demand for cedar oil fuels the regional market growth. Furthermore, Asia-Pacific is estimated to grow with the fastest CAGR over the forecast period 2022-2027. This is owing to the growing production of cedar oil in China & India and increasing demand all over the region. The increasing population coupled with upsurging numbers of aromatherapy centers and spas & body massage centers in the region fuels the growth of the Global Cedar Oil Market Size over the forecast period 2022-2027.

Cedar Oil Market Drivers

Growing Number of Spa and Aromatherapy Centers Drive Market Growth.

The demand for essential oils usually in spa and aromatherapy centers is high owing to their relaxing effects and rejuvenating properties. According to Boulevard, in 2019 in the U.S, by 2027, the size of the global spa market is expected to reach $133 billion, a marked increase from the pre-pandemic market size of $105 billion recorded in 2019. Such a high number of spas and a hike in visitors fuel the growth of the Global Cedar Oil Industry over the forecast period 2022-2027.

Use of Cedar Oil in Insect Repellent Products Drive Market Growth.

Cedar oil is used in insect repellent products owing to its excellent bioactivity against many arthropods. Cedar oil is able to dissolve pests in their early life cycle stages like eggs and larvae and it can disintegrate the exoskeletons of adult pests. The average pest control price in the U.S is $400 to $950 per year which can be minimized by using cedar oil. Such insect repellent properties of cedar oil and its use in insect repellent products drive the growth of the Global Cedar Oil Industry over the forecast period 2022-2027.

Cedar Oil Market Challenge

Unavailability of Raw Material is Hampering Market Growth

To produce cedar oil the raw material from the cedar tree is required but due to the over-exploration of natural resources and commercial plantation of selected varieties, the cedar plant is listed in IUCN red list as its population reduced by over 20%. The current price of cedar in India is 2,500 INR per cubic foot. Such low availability of raw materials and their high price may limit the growth of the Global Cedar Oil Industry growth over the forecast period 2022-2027.

Cedar Oil Market Industry Outlook

Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Global Cedar Oil Market. The top 10 companies in the Global Cedar Oil Market are:

1. Essential oil in. 
   
2. Finetech Industry Limited
3. Foreverest Resources Ltd.
4. Neptune Wellness Solutions
5. Mother Herbs (P) Ltd.
6. Orchid Chemical Supplies Ltd.
7. Young Living
8. A.G. Industries
9. Falcon Essential Oils
10. SVA Organics

Recent Developments

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