Tea Tree Oil Market Analysis, Size, Growth & Forecast [2031]

Report Description

Global Tea Tree Oil Market Outlook 2031:

The global tea tree oil market size was valued at USD 51 Billion in 2022 and is expected to reach USD 77.11 Billion by 2031 projected to expand at a CAGR of 4.7% during the forecast period, 2023 – 2031. The growing urbanization, increasing disposable income, changing lifestyle of consumers, and rising awareness related to organic products are propelling the market.

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Tea tree oil, also known as melaleuca alternifolia is a small tree found in Australia New South Wales and Queensland in Australia. It offers several antiseptic benefits such as the ability to kill several strains of bacteria, fungi, and viruses. Tea tree oil includes various beneficial features such as anti-inflammatory, anti-bacterial, anti-fungal, and anti-viral characteristics.

Tea tree oils consist of antimicrobial properties, which make them a beneficial ingredient used in the manufacturing of a variety of soaps and lotions for treating skin infections. Rising demand for tea tree oil in the personal care industry worldwide is the major factor driving the market.

Tea Tree Oil Market Trends, Drivers, Restraints, and Opportunities:

• Rising demand from cosmetic applications and increasing adoption by consumers for maintaining their skincare routine is boosting the market.
• Growing incidences of life-threatening skin disease and disorders such as skin cancer, AIDS, tumors, athlete's foot, acne, lice, nail fungus, and insect bites are fueling the market.
• Increased awareness among consumers related to the side effects of chemicals on the human body and benefits offered by tea tree oil is driving the market.
• The large quantities of tea tree oil are toxic for pets, as the oil is absorbed through the skin and can reach livers which cause several symptoms such as weakness; tremors, vomiting, and loss of coordination are hampering the market.
• High cost associated with the raw materials, as tea tree oil plants are limited to Australia. This, in turn, hinders the market.
• Growing research to develop natural and herbal skincare products is creating opportunities in the market.
• Increasing funding by manufacturers in product development and easy manufacturing processes is creating opportunities in the market.

Scope of Tea Tree Oil Market report:

The report on the global tea tree oil market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Tea Tree Oil Market Segment Insights:

Therapeutic segment to grow during the anticipated period

In terms of grades, the global tea tree oil market is segmented into pharma/cosmetic grade and therapeutic grade. The therapeutic segment is constituted a significant market share and is projected to expand at a rapid rate during the forecast period. Tea tress oil consists of antiseptic, fungicidal, and antiviral properties, which is projected to expand the segment to during the forecast time period.

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Cosmetics and toiletries segment estimated to grow in the near future

Based on applications, the global tea tree oil market is categorized as cosmetics and toiletries, therapeutic, industrial, and others. The Coconut milk segment is expected to hold a significant share of the market during the forecast period, due to the growing demand from manufacturers to produce various cosmetics & toiletries products such as cleansing soaps, face creams, mouthwash, hand wash, shower gels, deodorants, hand wash sanitizers, face creams, shampoo & conditioners, skin-clearing lotions, body lotions, etc.

Moreover, the growing demand for tea tree oil against a variety of fungal infections of the skin, scalp, and toenails which is anticipated to propel the segment during the forecast period.

Cosmetic manufactures segment to grow at a significant pace in the near future

On the basis of end-users, the global tea tree oil market is divided into FMCG manufacturers, cosmetic manufacturers, pharmaceuticals, residential, and others. The cosmetic manufactures segment is constituted a significant market share in 2020 and is projected to grow in the near future.

The growth in the segment is attributed to the growing demand for tea tree oil from cosmetic manufacturers in the production of various skincare products. Tea tree oil is used to treat eczema, acne, and various skin diseases including wounds, burns, nails, mycosis, herpes, warts, and insect bites. The pharmaceuticals segment is projected to expand in the near future, due to the rising demand for tea tree oil for making pharmaceutical products associated with its anti-inflammatory and anesthetic properties.

These skin beneficial properties of tea tree oil help in reducing pain and swelling by preventing infections and scarring, which is expected to support the growth of the segment during the forecast period.

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Asia Pacific dominates the global market

In terms of regions, the global tea tree oil market is split into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific constituted a significant share of the market in 2020, due to the growing demand for healthy natural products.

In Asia Pacific, tea tree oil is being traditionally used in herbal medicine. Surging consumer preference towards the adoption of natural or clean label cosmetic and pharmaceutical products is boosting the market. Moreover, the rising demand for skincare products among consumers is anticipated to boost the market in Asia Pacific.

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