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Essential Oils Market
The Essential Oils Market was valued around USD 7400 million in 2019 and is predicted to grow at a CAGR of 8.80% over the forecast period (2020-2027).
The factors driving the growth of Essential Oils Market includes increasing use of essential oil products in the food and beverage and cosmetic industries across the world, growing consumers preference for natural products over chemical-based products and rising awareness about the health benefits of essential oils products. According to the report published by Bloomberg, the Global Cosmetic Market was estimated around USD 380.2 billion in 2019 and is anticipated to reach USD 463.5 billion by the end of 2027, growing at a CAGR of 5.3% over the forecast period (2021-2027), which will boost the Essential Oils Market share in the approaching years. In addition, growing demand aromatic personal care products, increasing application of essential oils to treat sleep and immunity disorder conditions and rising popularity of aromatherapy worldwide, are some of the additional factors supplementing the Essential Oils Market size. In addition, the increasing investments by leading players on improving the packaging techniques, easy availability of essential products at the e-commerce platforms, rapid urbanization, rising disposable incomes and growing population growth rates, are further contributing to the market growth.
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However, the growth of Essential Oils Market is hindered attributed to insufficient availability of raw materials of essential oils
The prominent players operating in the market are The Lebermuth Company, Inc., International Flavors & Fragrances Inc., Symrise AG, Cargill, E. I. Du Pont De Nemours and Company, Koninklijke DSM N.V., Firmenich SA, Young Living Essential Oils, Sensient Technologies Corporation, Dōterra International LLC and Givaudan SA, among others.
Application: Segment Analysis
Based on Application, the Food & Beverage segment held the highest market share in 2018. The essential oils are increasingly used in the food and beverage industry to maintain the freshness of products and rising awareness about the benefits of essential oils, are some of the factors responsible for the segment’s growth.
Product Type: Segment Analysis
As per the Essential Oils Market Trends, the Orange Oil segment grew at a remarkable CAGR in 2018 because the orange oil provides firmness and elasticity to the skin and improves the quality of nails and hair.
Regional: Segment Analysis
Based on Region, the European region is expected to capture the largest market share during the forecast period. The increasing demand for natural products, rapid growth in the cosmetic industry, easy availability of essential oils at the convenience stores, rising awareness about the health benefits of essential oils and high per capita incomes, are some of the important factors augmenting the market growth in Europe,
Market Segmentation
Global Essential Oils Market by Product Type
Orange Oil
Lemon Oil
Lime Oil
Peppermint oil
Corn mint Oil
Citronella Oil
Spearmint Oil
Geranium Oil
Clover leaf Oil
Lavender Oil
Others
Global Essential Oils Market by Method of Extraction
Distillation
Carbon Dioxide Extraction
Cold Press Extraction
Solvent Extraction
Others
Global Essential Oils Market by Application
Food & Beverage
Cosmetics & Toiletries
Aromatherapy
Home Care
Health Care
Others
Global Essential Oils Market by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
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