The global Essential Oils market is expected to develop by , at a compound annual increase in price (CAGR) of 7.40 % throughout the forecast period.
The global essential oils market size is predicted to reach over USD 24735.13 million by 2030. Essential oils are volatile, which are obtained from roots, flowers, stem, leaves, and other parts of a plant. These oils comprise the essence of the aroma compounds and plants that are produced through distillation process or mechanical methods including cold pressing.
The size of the global market for Essential Oil is expected to reach US$ 34.6 billion by 2030, expanding at a compound annual growth rate (CAGR) of 7.2%.
The extracted aromatic chemicals are melded with a carrier oil to develop the final product. It is used in cosmetics, perfumes, soaps, flavoring food and beverages, along with the addition of fragrances for household cleaning chemicals and products.
The Essential Oils market is expected to witness a growth rate of 8.1% over the forecast timeframe. Growing awareness related to health and hygiene benefits through utilization of naturally sourced oils coupled with a rising inclination toward aromatherapy is anticipated to provide impetus to the industry size. Changing lifestyles along with growing media influence across urban and suburban population has led to adoption of health benefiting therapies.
Essential Oils Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2029||USD 24735.13 million|
|Growth Rate||CAGR of 8.1 % during 2021-2029|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Essential Oils of New Zealand, doTerra, Biolandes SAS, Falcon Essential Oils, Farotti Srl, India Essential Oils, H. Reynaud & Fils, Flavex Naturextrakte GmbH, Rocky Mountain Essential Oils, and Sydney Essential Oil|
Key Segments of the Global Essential Oils Market
Product Type Overview, 2019-2028 (USD Million) (Thousand Tons)
- Lemon Oil
- Orange Oil
- Peppermint Oil
- Lime Oil
- Citronella Oil
- Cornmint Oil
- Spearmint Oil
- Cloveleaf Oil
- Geranium Oil
- Jasmine Oil
- Eucalyptus Oil
- Rosemary Oil
- Lavender Oil
- Tea Tree Oil
Method of Extraction Overview, 2019-2028 (USD Million) (Thousand Tons)
- Cold Press Extraction
- Carbon Dioxide Extraction
- Solvent Extraction
End User Overview, 2019-2028 (USD Million) (Thousand Tons)
- Food & Beverages
- Cosmetics & Toiletries
Regional Overview, 2019-2028 (USD Million) (Thousand Tons)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global essential oils market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global essential oils market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the essential oils industry and their strategic initiatives for product development.
- The study covers a qualitative and quantitative analysis of the market segmented based on type, application, and end user. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global essential oils market. The report will benefit Every stakeholder involved in the essential oils market.
- Managers within the essential oils industry looking to publish recent and forecasted statistics about the global essential oils market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of the global essential oils market.
- Analysts, researchers, educators, strategy managers, and government institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
Rising research and development activities along with growing industry efforts to develop improved extraction techniques is stimulating the industry size. Positive economic outlook coupled with a growing middle class income has led to upsurge in the product demand. Moreover, rising adoption of healthcare products pertaining to rising awareness for health and hygiene along in line with an increasing inclination toward effective and aromatic products for cosmetics and toiletries is expected to complement the business outlook in the coming years.
Ongoing growth across food and beverage sector along with increasing inclination toward improved aesthetic as well as the palatable appearance of food across restaurants and hotels is stimulating the industry growth. The chef utilizes the essential oils to enhance the flavor and fragrance of the food. It is further used in the aromatherapy, massages, and other relaxation techniques and offer multiple health benefits which is boosting the product demand. Growing demand for odorants and pharmaceutical ingredients along with rising consumption of aromatic personal care products is positively influencing the business landscape. The extensive utilization of oil leading to depletion of natural resource, thereby announcement of stringent directives is anticipated to hamper the industry growth. However, government focus toward sustainable consumption along with promotion for planation of plants and trees is expected to fuel the industry upsurge over the forecast timeframe.
Product Type Segment
On the basis of the product type segment, the market is categorized into lemon oil, orange oil, peppermint oil, lime oil, citronella oil, cornmint oil, spearmint oil, cloveleaf oil, geranium oil, jasmine oil, eucalyptus oil, rosemary oil, lavender oil, tea tree oil, and others. In 2020, orange oil segment dominated the global essential oils market and accounted for more than 20% of the overall market share.
Orange essential oil is increasingly being used in major end-use sectors, such as cosmetics, to improve sensory appeal and product value. This oil is thought to improve skin elasticity, firmness, and tone. Stretch marks, dermatitis, and acne are also known to be treated with it. The oil also improves the appearance of skin, nails, and hair, making it more popular among young ladies. The category is projected to increase due to the growing number of working women and their increasing disposable income.
Method of Extraction Segment
Based on method of extraction, the segment is divided into distillation, cold press extraction, carbon dioxide extraction, solvent extraction, and others. The distillation method is analyzed to hold a significant share over the forecast timeline owing to rising demand across developing countries. Distillation is the process of separating components in a combination by evaporating the vapour and then condensing it into liquid. For temperature-sensitive materials like aromatic compounds, the distillation technique is utilised. It is a somewhat volatile process in which nonvolatile components are separated from water-insoluble compounds using distillation. For oil extraction, many distillation processes are utilised, including water distillation, water & steam distillation, and steam distillation.
End User Segment
Essential oils market is segmented into food & beverages, aromatherapy, cosmetics & toiletries, healthcare, homecare, and others, on the basis of end use. In this segment, the food & beverages sector dominated the global essential oils market and accounted for more than 35% of the overall market share.
The Europe region is likely to account for the maximum market contribution during the forecast years. The rising adoption of organic aromatic compounds along with shifting inclination toward the development of improved oils is driving the industry size. Furthermore, rising essential oil demand from food & beverages along with increasing application across healthcare sector is expected to stimulate the industry size over the forecast timeframe.
The major players of the global essential oils market are Essential Oils of New Zealand, doTerra, Biolandes SAS, Falcon Essential Oils, Farotti Srl, India Essential Oils, H. Reynaud & Fils, Flavex Naturextrakte GmbH, Rocky Mountain Essential Oils, and Sydney Essential Oil. The market for Essential Oils is competitive with established global players and is further witnessing the emergence of new companies. Moreover, the industry players are targeting toward enhancing their market share through implementation of merger & acquisition, collaborations growth strategies.