Thyme Oil Market

Thyme Oil Market Size and Forecast (2023-2028):

The Global Thyme Oil Market size is expected to grow at a CAGR of 7.8% during the forecast period 2023-2028 to reach USD 349.1 million by 2028 from USD 222.48 million in 2022.

Market Overview:

Thyme oil is a natural essential oil which is derived from the thyme plant, scientifically known as Thymus Vulgaris. It has a red to reddish-brown color and a typically spicy odor. It is obtained through steam distillation of the plant's leaves and flowers. It is believed to have antimicrobial, antifungal, and antiseptic properties, which can help fight against bacteria and infections. Thyme oil is also used in maintaining respiratory health and also provides relief from coughs and congestion. Sometimes it is also used as a natural preservative in food and cosmetics and in some natural cleaning products.

Recent Developments in the Thyme Oil Industry:

• In 2019, Researchers at the University of Campinas (UNICAMP) in São Paulo State, Brazil, created an innovative larvicide using corn starch as the primary raw material. Thyme oil, due to its biodegradability and cost-effectiveness, is incorporated into microcapsules, allowing for the controlled release of active compounds. The larvicide effectively targets and eliminates Aedes aegypti larvae, the mosquito responsible for transmitting diseases such as dengue, zika, yellow fever, and chikungunya.
• In 2020, a study published in the journal "Frontiers in Microbiology" found that thyme oil has potent antibacterial activity against a variety of gram-positive and gram-negative bacteria, including methicillin-resistant Staphylococcus aureus (MRSA).
• In 2021, a study published in the journal "Phytotherapy Research" found that thyme oil has anti-inflammatory activity, which could be useful for treating conditions such as arthritis and asthma.

REPORT COVERAGE:

Drivers:

One of the significant market drivers that are increasing the thyme oil market shares is the demand for natural and organic products; there is a shift in consumer preference due to increasing awareness of the potentially harmful effects of synthetic chemicals found in conventional products. This trend of using natural and organic products has been seen in all sectors, including cosmetics, personal care, food and beverages, pharmaceuticals, and household products. Thyme oil is a natural essential oil that has anti-bacterial properties.

The demand for natural and organic products has increased over the past years due to the rising number of health-conscious consumers. And they are seeking safer and more sustainable options. Moreover, thyme oil which is extracted from the thyme plant, has antimicrobial, antifungal, and antiseptic properties, making it a valuable product for targeting respiratory issues. Additionally, it has been scientifically claimed that thyme oil helps in reducing stress and promotes relaxation. Many organic and natural cosmetics manufacturers have incorporated thyme oil to support sustainable practices. Also, many industries, such as herbal supplements, organic food, beverages, and eco-friendly cleaning solutions, have incorporated thyme oil into their products. And therefore, as the demand for natural and organic products continues to rise, the market size of thyme oil will continue to increase.

In addition, the growing awareness of thyme oil's antimicrobial properties has increased the demand for the thyme oil market drastically. In personal care and cosmetics, thyme oil can fight bacteria, fungi, skin irritation, and rashes; its natural antiseptic property is used in shampoos, soaps, lotions, and creams since many of the synthetic cosmetics causes rashes and are harmful to consumers with sensitive skin. These characteristics have led to an increase in the thyme oil market growth. Furthermore, the demand for organic and natural household cleaner products has also caused the market demand for thyme oil. Thyme oil's effectiveness against various pathogens, including bacteria and viruses, positions it as an attractive alternative to conventional chemical-based cleaners, making it an attractive option. The increasing focus on hygiene and cleanliness in both personal and household settings has further accelerated the demand for thyme oil in these applications. The increasing focus on hygiene and cleanliness has further accelerated the demand for the thyme oil market.

Moreover, thyme oil has been a popular ingredient in cuisines because of its earthy and minted flavor. It adds a unique taste to the food. And therefore, it is commonly used in seasonings and spice blends to impart a rich and Savory flavor to soups, stews, meats, and vegetables. Hence food industry has also led to the lavishing thyme oil market size.

Restraints:

The limited availability of thyme plant is one of the crucial restraining factors that is limiting the thyme oil market growth is the availability of thyme plant. Thyme (Thymus vulgaris) is a perennial herb that grows in specific geographical regions with suitable soil and climate conditions. As a result, the cultivation of thyme is become difficult, leading to a restricted supply of raw materials for thyme oil extraction. This limitation creates challenges for manufacturers and suppliers. Also, Seasonal and climatic factors play a crucial role in thyme cultivation and oil production. Thyme plants are sensitive to seasonal changes and require specific conditions for growth and yield. Extreme weather can adversely affect thyme crops, leading to reduced harvests and lower-quality raw materials. In addition to this, thyme plants are prone to pests and infections, which leads to loss of crop yield and directly affects thyme oil production.

Furthermore, thyme oil is sensitive to sunlight, heat, and air, which affects its stability and storage, thus decreasing its shell life. And proper storage a packaging will increase the production cost and will directly increase the cost of thyme oil, which will restrict the demand due to high cost, and will affect the thyme oil market value.

Opportunities:

Thyme oil has significant opportunities in spas and salons due to its relaxing property. It has been used as a massage oil in various spas and salons as a destressing agent. Its use as aromatherapy has created an opportunity for the thyme oil market. Aromatherapy uses essential oils to promote physical and emotional well-being, and thyme oil which is a popular essential oil, leverage this opportunity because it has several benefits, such as reducing stress, promoting relaxation, and improving respiratory health. And the growing popularity of aromatherapy is expected to drive the demand for thyme oil in the coming years.

COVID-19 Impact on the Thyme Oil Market:

The outbreak of COVID-19 led to heightened awareness among consumers for health and well-being and ways to boost the immune system to fight the virus and infection. The importance of keeping a strong immunity led to an increase in demand for thyme oil since thyme oil fights respiratory infections and clears coughs and blockages. It led to the increased demand for thyme oil. And during the pandemic, consumers were seeking ways to improve their immune systems and protect them from infections. This caused a surge in the demand for the thyme oil market.  But due to the implementation of lockdown and travel ban to safeguard consumers from infection and to minimize the spread of infection, the global supply chain was disrupted, as production of the oil was halted due to a shortage of labor. Therefore it caused a decline in the market demand and sales, affecting the thyme oil market demand.

Thyme Oil Market Segmentation Analysis:

By Nature:

• Organic
• Inorganic

The organic segment dominates the market and holds the highest market share, as most consumers seek natural and organic products that are free from synthetic chemicals. And this led to the demand for the organic thyme oil market. At the same time, inorganic thyme oil is produced artificially from chemicals.

By Type:

• Red Thyme Oil
• White Thyme Oil
• Sweet Thyme Oil

Red Thyme Oil holds the highest market share due to its extraction from the leaves and flowers of the Thymus vulgaris plant. This essential oil contains compounds like carvacrol, thymol, and linalool, which offer numerous health benefits. Its properties, including antibiotic, anti-inflammatory, and antibacterial effects, make it a highly demanded product by all sectors. Red Thyme Oil is commonly used as a natural preservative in the food industry, ensuring product longevity. Additionally, the cosmetic and toiletries sector utilizes this oil for its beneficial properties in skincare products because of its antibacterial properties to maintain skin health. Moreover, Red Thyme Oil is also used in mouthwashes due to its antimicrobial qualities, contributing to oral hygiene and fresh breath. Its broad spectrum of applications highlights its appeal and makes it a valuable ingredient in diverse products across different industries. White thyme oil is mostly used for boosting the immune system by clearing up a cough from the body. Sweet thyme oil is used for acne and fungal infections.

By Application:

• Pharmaceutical industry
• Cosmetic industry
• Food industry
• Fragrance industry

The cosmetic industry has the highest market share because of the antibacterial activity it is used in creams, lotions, and shampoos. Thyme oil has abundant vitamin C and antioxidants that further contribute to the cosmetic industry. These natural compounds are known to nourish and protect the skin, supporting a healthy and radiant complexion. With increasing consumer demand for natural and effective skincare solutions, thyme oil has gained popularity. The food industry has the largest growing market share and CAGR since thyme oil is used to increase flavor and texture. The pharmaceutical industry is forecasted to have significant growth due to its antimicrobial and antifungal activity, which be used in treating fungal infections and eczema. The fragrance industry has a steady growth.

Geographical Segmentation Analysis:

• North America - the United States and Canada
• Europe - United Kingdom, Spain, Germany, Italy, and France
• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
• Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

By Region Analysis:

Based on the region, the Asia Pacific holds the highest Thyme oil market share due to the high adoption of natural and organic products for curing illnesses. Moreover, increasing skin diseases also contributed to the thyme oil market size. North America has the largest market share next to Asia Pacific due to the increasing consciousness of organic and natural products by consumers and also due to high disposable income that enables consumers to purchase high-quality thyme oil. Europe is seeing significant growth due to the increasing use of spas and salons. Latin America has seen to have steady growth. The Middle East and Africa have a low market share as compared to other regions.

Key Players in the Market:

Major Key Players in the Global Thyme Oil Market are

• Aromex IndustryEdens Garden
• Now Foods
• Reho Natural Ingredients
• Frutarom
• Rakesh Sandal Industries
• Berjé Inc
• VDH Organics
• The Good Scents Company
• Spring Thyme Company