The Market is expected to reach USD 91.51 Mn by 2030. The Tea Tree Oil Market is driven by more adoption of natural substitutes for synthetic components.
Tea Tree Oil Market to Hit USD 91.51 Mn by 2030
The Tea Tree Oil Market was USD 58.29 Mn in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 5.80 % from 2023 to 2030, reaching USD 91.51 Mn by 2030. As consumers seek products with beneficial attributes and prioritize their well-being, the market for tea tree oil is expanding. Due to its well-known antibacterial, antifungal, and antiviral qualities, tea tree oil is useful in the treatment of several skin disorders, including dandruff, acne, fungal infections, and small wounds. North America accounts for over 40% of the world market, the size of the U.S. market. It is projected that the U.S. market would expand at a rate comparable to the 4.2% worldwide CAGR.
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Market Segmentation
By Application: In Cosmetics because of its antibacterial, antifungal, and anti-inflammatory qualities, tea tree oil is a common component. Due to its calming and antibacterial qualities, tea tree oil is used in aromatherapy to treat cold, cough, and respiratory congestion symptoms. In Industries, the usage of tea tree oil in natural disinfectants, surface cleansers, and cleaning agents is growing.
By Grade: Pharma or Cosmetic Grade, tea tree oil meets the required purity levels suitable for topical use. Used in formulations for skincare, haircare, and body care. In Therapeutic Grade, Tea tree oil is used in diffusers to alleviate respiratory, stress, and anxiety symptoms.
Market Regional Analysis
United States holds the dominant share of the global market. Regulations from agencies such as the FDA guarantee the safety and purity of tea tree oil, which is widely utilized in pharmaceutical and cosmetic goods in the United States. In the US, the market for tea tree oil was estimated to be worth USD 55.10 million in 2023 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 6.54% from 2024 to 2030, reaching USD 87.11 million.
Germany dominates the European tea tree market. The market for tea tree oil in Germany was estimated to be worth $6.64 million in 2023. By 2031, this market is expected to have grown to a projected value of $6.64 million. Germany has a high need for tea tree oil, as seen by the 1,785.8 kg of tea tree oil consumed there in 2023.
China, As of November 2020, China had 4.53 million hectares of tea-oil tree plantations, producing 627,000 tons annually. Although the edible oil from Camellia species is frequently referred to as “tea tree oil” in China, the market for essential tea tree oil from Melaleuca alternifolia is expanding.
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Market Competitive Landscape
Thursday Plantation: Integria Healthcare was acquired by Thursday Plantation to expand its portfolio of natural health and wellness products. Because of the acquisition, Thursday Plantation has expanded its presence in international markets, particularly in Europe and North America.
doTERRA: In 2021, doTERRA acquired Aromatools. Over the years, doTERRA has forged many alliances, especially with charitable institutions. One of the company’s noteworthy projects is the doTERRA Healing Hands Foundation.
Young Living Essential Oils: Young Living Essential Oils completed the Acquisition of The Essential Living Company. Young living also acquired Vida Bloom. Gary Young, the founder of Young Living, founded the D. Gary Young Foundation.
Conclusion
- The market is also anticipated to rise as a result of regional expansion and the growing availability of tea tree oil in developing countries, particularly in Asia-Pacific and Latin America.
- The market for tea tree oil is expected to keep growing thanks to persistent trends in sustainability, natural goods, and health.
