Oakmoss Extract Market

Oakmoss Extract Market Size, Share, Growth (2023-2028)

Oakmoss Extract Market size was valued at USD 36.3 million in 2022. The Oakmoss Extract market share value is expected to grow at a CAGR of 5.7% during the forecast period 2023-2028 to reach USD 50.6 million by 2028. 

Oakmoss Extract Market Overview

Oakmoss, a type of lichen, thrives in forests across the Northern Hemisphere. Its appearance resembles antlers, showcasing green or yellowish growth on tree branches and trunks. With its wide usage in perfumery, oakmoss serves as a prominent fragrance component. Its flexible nature allows it to blend effortlessly with various scent families, enriching oriental, chypre, and floral perfumes with a touch of refinement. Moreover, oakmoss's exceptional fixative properties make it an esteemed stabilizing element that harmonizes more potent scents. As a result of these distinctive qualities, oakmoss has become increasingly popular among cosmetic product manufacturers.

Oakmoss Extract Market Drivers

The Oakmoss Extract market growth is fuelled by the increasing demand for aromatherapy and clean-label essential oils in the personal care sector. These essential oils provide benefits to both the mind and body, making them popular choices for aromatherapy practice. The growing interest in aromatherapy can be attributed to various factors, with one of the key drivers being the significant increase in income levels over recent years. It has been observed that aromatherapy, which was once seen as an alternative therapy, has now become a mainstream treatment option.Furthermore, there is a notable increase in the demand for clean-label oils. This surge is fueled by consumer preferences for transparent product labeling that includes fewer synthetic ingredients. The growing clean label trend is a crucial catalyst for the overall expansion of the market. Consequently, manufacturers are increasingly inclined to utilize essential oils in preference of synthetic additives which is also escalating the oakmoss extract market demand.

Oakmoss Extract Market Restraints

The Oakmoss Extract market may encounter obstacles due to the strict regulations and guidelines imposed by regulatory authorities. While oakmoss is a well-known ingredient in the fragrance industry, its usage is heavily limited. Fragrances are not permitted to contain more than 0.1% of oakmoss extract. This limitation stems from the historical evidence of adverse skin reactions caused by oakmoss, resulting in its classification as a restricted ingredient by IFRA, an organization responsible for ensuring the safe usage of fragrant chemicals and essential oils in perfumes. This restriction, implemented in 2001, posed challenges for many perfume houses, as numerous renowned formulations contained oakmoss as a base note over the allowed 0.1%. Companies like Guerlain had to come up with ways to recreate the smell of oakmoss in their famous perfumes like Mitsouko, but they had to do it without making big changes to the original formulas.Furthermore, Oakmoss contains compounds such as usnic acid, evernic acid, and thujone that are potentially toxic to the body. While oakmoss has been traditionally used for coughs and other purposes, there is limited scientific evidence to support these uses. Therefore, complying with regulations requires significant investme­nts in research, testing, and documentation, which can negatively impact the revenue of companies operating in the oakmoss extract market.

Oakmoss Extract Market Opportunities

The rising demand for flavors in food & beverages and natural ingredients in cosmetics presents untapped opportunities in the oakmoss extract market. Oakmoss extract producers have the chance to partner with cosmetic companies to meet the growing demand for natural and environmentally friendly ingredients in the cosmetics and personal care sectors. Moreover, the trend towards unique flavors in the food and beverage industry can be capitalized on by incorporating oakmoss' earthy and woody taste into sauces, beverages, desserts, and confectionery products. Manufacturers can collaborate with players in the food and beverage industries to create distinct flavor profiles that align with customer preferences.

COVID-19 Impact on the Oakmoss Extract Market:

The cosmetic and personal care industry was heavily impacted by the widespread effects of the COVID-19 pandemic. One sector that particularly suffered during lockdowns was the perfume industry. Market closures and stay-at-home measures resulted in an unforeseen surge in demand, causing disruptions in supply chains due to material shortages. In response to this difficult situation, manufacturers shifted their focus towards prioritizing employee safety, streamlining business operations, and securing supply chains.Industry dynamics went through a transformation due to the pandemic as organizations had to restrategize their operations to stay afloat amidst disruptions. The food and beverage industry felt the repercussions of this impact, and it had partial consequences on the Oakmoss Extract market. As consumer preferences and production processes were reshaped in favor of wellness and hygiene products, perfumes took a backseat. This shift had a significant impact on the Oakmoss Extract market.

Key developments in the market:

➢ In March 2022, Firmenich inaugurated its state-of-the-art Creation & Development Center in Dubai Science Park, enhancing research and innovation capabilities with advanced technology. Spanning 3,500 square meters, the center will cater to over 60 Middle Eastern and African countries, serving as a cutting-edge research and science hub.

➢ In Nov 2021, Mountain Rose Herbs introduced the groundbreaking Mountain Rose Aroma Bar, featuring two key locations. This unique, essential oil marketplace is crafted to captivate the senses with ethically sourced essential oils and personal aromatherapy products of exceptional quality.

Oakmoss Extract Market Segmentation

By Application

• Perfumes

• Cosmetics and personal care

• Processed food and beverages

• Aromatherapy

Based on application, the perfumes segment dominated the Oakmoss Extract market in 2022. In perfumes, it helps the fragrance last longer with its earthy scent. Skincare products like soaps and lotions add a natural smell and possible skin benefits. It's also used in food and drinks to give them a unique taste. Aromatherapy is an emerging segment in the case of the oakmoss extract market. The reason is the popularity of aromatherapy for its soothing smell. Perfume and skincare are the main markets for oakmoss extract due to the demand for natural scents and organic products. Thus, due to its versatility and in demand by many industries and customers, the oakmoss extract market is expected to flourish in the upcoming year.

By Product Form

• Liquid

• Powder

Based on the product form, liquid is expected to dominate the Oakmoss Extract market during the forecast period. This dominance is because liquid oakmoss extract is commonly used in perfumes, cosmetics, and aromatherapy. 

On the other hand, the powder form oakmoss extract market is esteemed to hit the highest CAGR during the forecast period.

By Nature

• Organic

• Conventional

Based on the nature, the organic segment is expected to dominate the oakmoss extract market during the forecast period. The oakmoss extract has gathered popularity for its calming fragrance, especially in aromatherapy. The demand for organic goods and natural scents has resulted in the perfume and skincare industries as the primary markets for this extract. The diverse uses and appeal to numerous industries and consumers lead to expectations for a thriving oakmoss market in the upcoming year. The natural and eco-friendly organic oakmoss extract reigns supreme in popularity. This extract comes from lichens that are grown through a chemical-free process, making it clean and pure. Organic oakmoss is gaining ground in industries like cosmetics, perfumes, and food and beverages that value using natural and sustainable ingredients. Therefore, consumers are increasingly informed about the dangers of conventional farming techniques and prefer to choose organic alternatives.

Oakmoss Extract Market Regional Analysis:

• North America

• Europe

• Asia-pacific

• Middle-East and Africa

• Latin America

Based on region, North America has a dominating share of the Oakmoss Extract market, driven by the rising demand for natural and sustainable components within the cosmetics and personal care sector. This region is well established in the fragrance and perfumery industry, coupled with a heightened consumer consciousness regarding environmentally friendly goods, which has stimulated the incorporation of oakmoss extract into various applications.

Moreover, Europe is next in leading the oakmoss extract market due to stringent regulations that promote the utilization of natural ingredients in consumer products.

In Asia Pacific, there is a booming opportunity for growth in the oakmoss extract market due to increasing disposable incomes, evolving lifestyles, and a growing inclination towards premium personal care products.

Oakmoss Extract Market Key Players

1. Midwest Sea Salt Co.

2. BMV Fragrances Private Limited

3. SigmaAldrich

4. Eden Botanicals

5. BERJE INC.

6. Bristol Botanicals

7. Veda Oils

8. Sweet Essentials

9. Mountain Rose Herbs

10. Divine Essence

11. Givaduan

12. Firmenich

13. Biolandes

14. Plantlife, Inc.

15. Scent Fill

16. Ventos