According to a recent study by Fact.MR, a leading market research and competitive intelligence provider, the global Oregano Oil Market is estimated to reach $12.23 billion by 2024.
The report predicts a steady growth in worldwide oregano oil sales, with a forecasted Compound Annual Growth Rate (CAGR) of 5.1 per cent from 2024 to 2034.
The surge in demand for natural preservatives within the food and beverage industry, driven by an increasing awareness of health and wellness, is a key factor contributing to the market’s expansion.
Furthermore, the adoption of oregano oil in aromatherapy is identified as a significant driver for market growth. The rising popularity of natural cosmetics, attributed to their health benefits, is expected to propel the sales of products containing oregano oil.
The research report highlights key segments in the oregano oil industry, emphasising the growing recognition of oregano oil’s healing properties, leading to its heightened adoption in the medical field.
Oregano leaves, known for their substantial phenol content with renowned antibacterial properties, are particularly noted among aromatic plants. As a result, oregano oil finds substantial use in the pharmaceutical industry, reflecting a notable trend in the market.
Key Takeaway from Market Study
- The global oregano oil market is predicted to be valued at $12.23 billion in 2024.
- Worldwide demand for oregano oil is projected to reach a market value of $20.07 billion by the end of 2034.
- The market is projected to expand at 5.1 per cent CAGR from 2024 to 2034.
- East Asia is forecasted to account for 23.7 per cent share of global market revenue by 2034.
- Sales of oregano oil in Japan are predicted to increase at 5.9 per cent CAGR from 2024 to 2034.
- The pharmaceuticals segment is forecasted to hold 34.2 per cent share of the global market by the end of 2034.
“Increasing demand for herbal and natural products and rising application of oregano oil in pharmaceutical and nutraceutical industries are predicted to generate lucrative opportunities for players,” said Fact.MR analyst.
Rising adoption of oregano oil in pharmaceutical industry
Demand for oregano oil is increasing in the production of pharmaceuticals because of its several beneficial properties. Oregano oil is known for its anti-inflammatory properties and plays a vital role in treating respiratory, gastrointestinal, and menstrual disorders. Pharmaceutical formulation of oregano oil is predicted to stimulate its adoption by healthcare providers