The global tea tree oil market size was valued at $38.8 million in 2017 and is projected to reach $ 59.5 million by 2025, growing at a CAGR of 5.6% from 2018 to 2025. By 2022, the global essential oil market is expected to reach US$11.19 billion with a CAGR of 9.1%.
Tea tree oil is derived from the leaves of Melaleuca alternifolia, a small tree native to Queensland and New South Wales, Australia. It has a bushy crown and a papery, whitish bark. The leaves are scattered or arranged alternately. Tea tree oil is not diluted when packed and distributed for commercial use. However, tea tree oil is also available in diluted form owing to the preference of the end user. This diluted form is specifically used in the cosmetic industry. It is also used in the FMCG sector and the pharmaceutical industry. This increase in demand from various sectors boosts the tea tree oil market growth.
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The tea tree oil producers have been strategizing on expanding the production base in the untapped markets of the Asia-Pacific and Latin America regions owing to the change in preference toward natural products among the customers.
The key players profiled in the market report include Main Camp, G.R. Davis, Maria River Plantation, Cassegrain Kalara, Jenbrook, LvHuan Technology, Coromandel Mountains, Fuyang Biotechnology, Oribi Oils, and Integria Healthcare.
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Key Findings of the Tea Tree Oil Market:
In 2017, based on application, the cosmetic & toiletries application segment accounted for around 78.4% of the tea tree oil market share, growing at a CAGR of 5.2% from 2018 to 2025.
In 2017, based on end user, the retail store segment accounted for 53.1% share of the market and is expected to growth at the highest CAGR of 5.0% during the forecast period.
In 2017, based on region, North America accounted for a prominent market share and is anticipated to grow at a CAGR of 4.0% throughout the tea tree oil market forecast.
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