Camphor Oil Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, UK, Germany, China, Japan - Size and Forecast 2024-2028

Camphor Oil Market 2024-2028

The Camphor Oil Market size is projected to increase by USD 15,518.4 and the market size is estimated to grow at a CAGR of 3.2% between 2023 and 2028. Camphor oil, a valuable essential oil derived from the camphor tree, is experiencing significant growth in various industries due to its numerous applications. In the medical sector, camphor oil is widely used for its therapeutic properties, including pain relief, antispasmodic, and antiseptic effects. The increasing awareness of health and wellness, coupled with the growing prevalence of chronic diseases, is fueling the demand for camphor oil in pharmaceuticals. Moreover, the rising beauty consciousness among consumers is driving the demand in cosmetics and personal care products. Its antimicrobial and anti-inflammatory properties make it an ideal ingredient for skincare and haircare products. Additionally, the growth of the organized retail sector is providing a significant boost to the market for camphor oil. With the increasing popularity of online shopping and large retail stores, the availability and accessibility of camphor oil have increased significantly, making it more convenient for consumers to purchase this versatile essential oil.

Market Overview

The market shows an accelerated CAGR during the forecast period.

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Market Dynamics

An Overview Camphor oil, derived from the camphor tree, has long been recognized for its therapeutic properties in traditional medicine. This volatile oil is known for its strong, pungent aroma and offers numerous medicinal benefits. It functions as an analgesic, antiseptic, and decongestant, making it a popular choice for topical use in pain relief and skin irritations. Camphor oil is widely used in balms, liniments, and vapor rubs to alleviate respiratory conditions and provide relief from congestion. Its versatility extends beyond healthcare, with applications in skincare formulations and aromatherapy blends. In recent years, there has been a growing demand for eco-friendly practices in the production of pure and high-quality camphor oils, as consumers prioritize health and wellness needs.

Also, the market is expected to grow due to its diverse applications, from pain relief to household cleaners. The increasing popularity of plant-based solutions and sustainable sourcing practices is also driving market growth. However, the use of synthetic additives and chemicals in some camphor oil products may pose concerns for consumers, leading to a trend towards natural and organic offerings. In summary, the market is poised for growth due to its medicinal benefits and versatility, with a focus on sustainable sourcing and eco-friendly practices. From pain relief to skincare and household cleaners, camphor oil continues to meet the evolving health and wellness needs of consumers.

Key Market Driver

Growing demand for camphor oil in the medical industry is notably driving the market growth. The market is characterized by its association with a wide range of end-use industries. Nevertheless, the pharmaceutical industry is anticipated to contribute to a major share of the rising demand for camphor oil globally. To relieve pain and reduce itching, camphor oil can be applied directly to the skin. Also, it is used to manufacture medicines for skin infections, cough, and other respiratory disorders.

Further, camphor oil is considered one of the best sleep inducers and, therefore, used in the treatment of insomnia and other sleeping disorders. The growing demand for pharmaceuticals as camphor oil is used in manufacturing various medicines and pharmaceuticals will accelerate the demand and thus drive the global market growth during the forecast period.

Significant Market Trends

Increasing R&D on camphor oil is an emerging trend shaping the market growth. Nowadays, researchers have been working on the use of camphor oil as an additive in diesel engines. Less viscous and low cetane (LVLC) fuels have emerged as promising alternative fuels to fossil fuels. Camphor oil is one such potential LVLC fuel that is used as a fuel additive in diesel engines. It is added to diesel engines to increase the brake thermal efficiency of the engine at all loading conditions which enhances the efficiency of the engine, thereby improving the life cycle of the vehicle. Moreover, due to high viscosity, the use of neat cashew nut shell oil (CSNO) as a fuel in direct injection diesel engines presents problems of incomplete combustion and low brake thermal efficiency.

In addition, CSNO was combined in various volumes with camphor oil (CMPRO), which burns quickly and is less viscous than CSNO to solve this issue. All such R&D activities are anticipated to fuel the demand for camphor oil, which in turn will drive the growth of the market in focus during the forecast period.

Major Market Challenge 

Health hazards of using camphor oil are a significant challenge hindering the market growth. Stringent government regulations and guidelines pertaining to the use of camphor oil can hamper the growth of the global market during the forecast period. It is mandatory for manufacturers to adhere to the standards implemented by government bodies across the world. Several countries impose restrictions on the use of camphor oil in various applications because camphor can cause some minor side effects, such as skin redness and irritation. Camphor oil is preferred as an essential oil in various applications due to health hazards.

For instance, as per the European Chemicals Agency (ECHA), under EC list no 616-922-7, camphor oil is termed as fatal if swallowed and enters airways, is toxic to aquatic life with long-lasting effects, causes serious eye irritation, is a flammable liquid and vapour, causes skin irritation, may cause an allergic skin reaction and may cause respiratory irritation. Therefore such health hazards have led to the declining demand for camphor oil and further restricted the growth of the market during the forecast period.

 Market Segmentation by Distribution Channel

The offline distribution channels refer to traditional brick-and-mortar establishments where goods are physically sold to customers. Offline distribution channels are extremely important in order to reach consumers in the global market for camphor oil. Moreover, Offline distribution channels give consumers the opportunity to personally inspect and buy camphor oil. Additionally, qualified employees can provide individualized guidance and recommendations through offline channels, which is advantageous for consumers looking for certain camphor oil health or wellness advantages. Therefore, the improved advantage of the offline segment will fuel the growth of the market during the forecast period.

 Market Segmentation by Product

The market share growth by the therapeutic grade segment will be significant during the forecast period. In the global market for camphor oil, the use of camphor oil for various therapeutic applications is referred to as the therapeutic segment. For its therapeutic advantages, many cultures have a long history of using camphor oil. 

The therapeutic segment was the largest and was valued at USD 54,142.60 in 2018

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In the therapeutic segment, camphor oil is commonly used for pain relief, skin issues, headaches migraines digestive problems, etc. The therapeutic segment of the market has developed as a result of increasing demand for essential oils and an upsurge in the popularity of natural medicines, which, in turn, will fuel the growth of the global camphor oil during the forecast period.

Key Regions Market 

North America is estimated to contribute 49% to the growth of the global market during the forecast period

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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market is expanding consistently in the region. The wood of the camphor tree is used to make camphor oil, which is used in a variety of fields, including aromatherapy, cosmetics, personal care, and food. The rising incidence of respiratory disorders and the growing customer preference for natural therapies are driving the demand for camphor oil in the pharmaceutical industry. The most important industry participants in the North American market are Amrit Fragrances Inc., Reho Natural Ingredients, Indenta Group, Aroma Aromatics and Flavours, Camphor and Allied Products Ltd., and Manish Minerals and Chemicals. These businesses concentrate on product innovation, expansion plans, and partnerships to preserve their market dominance and satisfy changing consumer needs. Thus, these factors are expected to drive the growth of the market in the region during the forecast period.

Company Overview

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

• Key Offering- Astrra Chemicals - The company offers camphor oil such as Astrra chemicals camphor essential oil for cosmetic and medical use.
• Key Offering- Azelis SA - The company offers camphor oil such as Vigon camphor oil which is used in aromatherapy, perfumes, and for medical purposes.
• Key Offering- Berje Inc. - The company offers camphor oil, such as white Chinese camphor oil which is used as a base material for a wide variety of perfumery products.

The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

• Apt Exim
• Bulk Apothecary
• BZMP OJSC
• Clensta International Pvt Ltd.
• Ernesto Ventos SA
• Givaudan SA
• J.K.Fragrances
• Mangalam Organics Ltd.
• Nikura Ltd.
• NOW Health Group Inc.
• Oriental Aromatics Ltd.
• Otto Chemie Pvt. Ltd.
• Penta Manufacturing Co.
• Robertet SA
• Saptagir Camphor Pvt. Ltd.
• Simply Earth
• SVA Naturals

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Segment Overview

The market research and growth report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD thousand" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.

• Product Outlook 
  • Therapeutic grade
  • Others

• Distribution Channel Outlook
  • Offline
  • Online

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • South America
    • Chile 
    • Brazil
    • Argentina 
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

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Market Analyst Overview

An Overview Camphor oil, derived from the Camphor tree, has been widely used for its therapeutic properties in traditional medicine for centuries. The oil, known for its strong, pungent aroma, is a versatile compound with numerous medicinal benefits. Camphor oil is commonly used topically for pain relief, acting as an analgesic and antiseptic. It is effective in providing relief from skin irritations and respiratory conditions. Camphor oil is often found in balms, liniments, and vapor rubs, making it a popular choice for natural, organic products in the health and wellness market. The market has seen a significant increase due to its versatility and medicinal benefits. The oil is used in skincare formulations, aromatherapy blends, household cleaners, and plant-based solutions. With the growing trend towards natural, sustainable, and eco-friendly practices, the demand for pure and high-quality camphor oils has risen. However, the market has faced challenges due to lockdowns, supply chain disruptions, and transportation restrictions, which have reduced the availability and distribution of products. The use of synthetic additives and chemicals in camphor oil production is also a concern for consumers, leading to a growing demand for sustainable sourcing and manufacturing practices.

Further, the market is expected to continue its growth trajectory, driven by its medicinal benefits and increasing demand for natural, organic, and sustainable products. The market is diversifying into various applications, including skincare, aromatherapy, and household cleaning, offering significant opportunities for manufacturers and suppliers. The market is evolving with a focus on alternative medicine and aromatherapy practices, leveraging high-quality oils sourced through ethically produced camphor oils. Used in creams, lotions, and holistic approaches like Ayurveda and Traditional Chinese medicine, camphor oil plays a crucial role in stress management and mental health treatments. However, safety concerns and regulatory restrictions pose challenges, particularly due to limitations on camphor usage and environmental impacts like depletion and environmental degradation during cultivation and extraction processes in warm, humid climates such as Vietnam. To mitigate these issues, the industry is exploring advanced technologies for sustainable acquisition strategies and reduced manufacturing impacts, aiming for diversification while preserving the rich biodiversity essential for camphor tree growth.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2024 and 2028
• Precise estimation of the market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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