The Europe tea tree oil market is expected to grow at a CAGR of 5.54% during the forecast period. The rising disposable income, growing health concerns, the rising demands in aromatherapy, etc. are the factors aiding the growth of the market. The cosmetic manufacturers are utilizing essential oils by substituting it for conventional chemicals.
The European tea tree oil market is determined based on markets across the regions, such as the United Kingdom, Germany, France, Spain, Italy, and Rest of Europe. The Spain market is witnessing tremendous growth due to the annual growth rate of imports, rising usage of cosmetics, growing number of skincare ailments, and the beauty perception standards. In many regions, government organizations and regulations have favored the new entrants and existing stakeholders, thereby encouraging growth opportunities in the market. The cosmetic/pharma grade tea tree oil has garnered significant demands in European countries, as a result of its anti-bacterial, anti-viral, and anti-fungal properties, and primarily due to the shifting preference for natural cosmetics. The limited availability of raw materials poses a threat to the growth of the market.
There are new entrants and innovative strategies by existing stakeholders, in the market due to the rise in opportunities. Some of them are Maria River Plantation, Gr Davis, Integria Healthcare Australia Pty Ltd, SOiL, Jenbrook Pty Ltd, T.G. Cassegrain & Co Pty Ltd, etc.
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