Market Overview —
Hydrosols have been garnering huge popularity as a skin care ingredient, commonly being utilized alongside essential oils. They are extensively consumed in personal care product and medicinal product industries. Hydrosols are a by-product of essential oil distillation process. Though hydrosols are less concentrated than their essential oil counterparts, they hold a valuable place in aromatherapy, offering many therapeutic benefits. Further they make a more appropriate choice in various gentle and balancing products. Simultaneously, hydrosols are used in the production of plant-base meat products. The demand for bio meat has increased exponentially during the past few years. Due to the increasing consumption and demand, the global hydrosol market witnesses a constant rise in revenues. Market Research Future (MRFR), in its recent report on COVID-19 impacts on the global hydrosols market states that the market is estimated to reach USD 437 MN by 2024.
In its COVID-19 analysis, MRFR also asserts that the global hydrosols market would register 5.17% CAGR during the forecast period (2019 -2024). Technological advances in manufacturing techniques are a key driving force behind the growth of the market. Improved distillation processes increase the production rate of hydrosols. Owing to the rising veganism and health conscious populaces meatless products are steadily gaining importance. Besides, rising efforts and investments by bio meat producers to bring to market sustainable products and improve raw material supply chain boost the market growth. Plant-base meat producer go a step further to improve the development of texturates. They form strategic partnerships with raw materials suppliers to gain extensive expertise in the sustainable manufacture of plant-based proteins, blending their knowledge on textures techniques.
Highly competitive, the hydrosols market appears fragmented due to the presence of several large and small players. To gain a larger competitive share, industry players initiate strategies such as mergers & acquisitions, expansions, and innovations/ product launch. They make substantial R&D investments to drive product development activities and improve their existing portfolio.
Players leading the Global Hydrosols Market include Plant Therapy Essential Oils (US), Aromatic International LLC (US), Sydney Essential Oil Co. Pty Limited (Australia), The Mountain Rose Herbs (US), Hydrosol World Inc. (Canada), Eden Botanicals (US), Neo Essential Oils (India), Moksha Lifestyle Products (US), The Soap Kitchen Ltd (UK), and Green Valley Aromatherapy Ltd (Canada), among others.
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Industry/ Innovation/ Related News
May 05, 2020 - Hydrosol GmbH & Co. KG (Germany), leading producer of for stabilising and texturing systems, announced its collaboration with All Organic Treasures (AOT) to create new possibilities for meat alternatives. Hydrosol also produces stabilising systems for dairy products, plant-based meat products, and vegan alternatives.
The addition of AOT’s raw materials would help in developing exclusive texturates with structure similar to muscle tissue, utilising allergen- and GMO-free sources including up cycled proteins obtained as a by-product of sunflower oil manufacture.
Hydrosol’s products retain their inherent protein structure and nutrients, distinguishing them from conventional protein products. These proteins are offer clear advantages in terms of sustainability. This is even more important in view of the need to supply a growing world population with sustainably sourced, protein-rich meat alternatives.
The report is segmented into four dynamics.
By Source: Rose, Roman Chamomile, Neroli, Lavender, and others.
By Category: Organic and Conventional.
By Distribution Channel : Store-Based, Supermarkets & Hypermarkets, Convenience Stores, Non-Store-Based, and others.
By Regions: North America, Europe, APAC, and Rest of the World.
Europe dominates the Global Hydrosols Market. In 2020, the region accounted for 39.91% market share. The largest market share attributes to the increasing demand for organic ingredients from the personal care product industries in the region. Besides, factors such as the increasing consumption of hydrosols in perfumes and fragrances influences the growth of the regional market.
Moreover, rising demand for plant-based meat products in the region foster the market growth. Italy is a hub for high quality perfumes and fragrances followed by France. Also, UK, Germany, Spain account for considerable market share in the regional market. The European hydrosols market is anticipated retain its leading position in the global market throughout the assessment period.
North America stands second in the global hydrosols market. The region manufactures substantial amount of hydrosols. The market is driven by stringent government regulations against the use of chemical fertilizers. Also, the demand for bio fertilizers in the region is rising continually. Furthermore, increasing popularity of plant-based meat products and rising veganism in the region foster the market growth. The North American hydrosols market is anticipated to create substantial revenue pocket over the forecast period.
The Asia Pacific region is becoming the fastest-growing market for hydrosols globally. Factors such as the growing popularity of aromatic products and changing living standards of demographics increase sales of hydrosols in the region. Also, the region attracts huge foreign investments due to the raw material advantages and cost-competitive workforce. This results in increasing production facilities in the region. The APAC Hydrosols market is anticipated to grow at a substantial CAGR during the estimated period.
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