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The global essential oils market is projected to reach a value of USD 40.12 billion by 2030, expanding at a compound annual growth rate (CAGR) of 7.9% from 2024 to 2030, according to a recent report by Grand View Research, Inc. A significant factor driving the demand for essential oils is the increasing popularity of aromatherapy, which is rapidly becoming a widely accepted method for treating lifestyle-related diseases. The growing consumer awareness regarding the various uses of essential oils across different applications is contributing to the rising sales volume of these products.
Essential oils are primarily composed of terpenes and their oxygenated derivatives, which often include compounds such as monoterpenes and sesquiterpenes. These compounds are naturally present in specialized cells or glands within various plants. The location of these glands can vary depending on the plant’s morphology and physiology. During the manufacturing process, these glands are ruptured either by mechanical pressing or through the application of heat, which then releases the distinctive aroma of the oils.
These oils are widely used for enhancing the freshness of air in homes, typically through aroma diffusers or by adding essential oils to aroma pots. Additionally, they are commonly added to water or bath systems to help relax muscles and improve the overall ambiance of a space. Many young women also use these oils to create homemade cosmetics, appreciating their natural content and medicinal properties.
A growing global demand for organic products is significantly influencing consumer trends. The implementation of regulations supporting the use of eco-friendly ingredients in industries such as cosmetics, food, and beverages is driving this trend. Consumers are becoming more interested in products derived from natural ingredients, and a significant portion of the global population is shifting their preferences towards organic options. This shift is contributing to an increased demand for plant-based products, while simultaneously decreasing the demand for synthetic fragrances.
The COVID-19 pandemic caused widespread disruptions across the globe, leading to lockdowns in many countries. These lockdowns resulted in shortages of raw materials, disrupted supply chains, and increased prices for high-demand products, particularly during two to three quarters of 2020. Restrictions on the import and export of goods, especially from Southeast Asian countries, exacerbated the situation. However, the temporary closure or slowdown of synthetic flavor and fragrance manufacturing plants in China provided an opportunity for essential oil distillers, as manufacturers sought alternative suppliers, turning to smaller vendors to meet their raw material needs.
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Essential Oils Market Report Highlights
• Cleaning & Home Sector: The cleaning and home segment saw the fastest growth, expanding at a rate of 7.7%. This growth is attributed to the antifungal and antibacterial properties of essential oils.
• Black Pepper: Black pepper experienced one of the fastest growth rates at 8%, driven by its extensive use across the food and beverage, spa and relaxation, and medical industries.
• Direct Selling Channel: The direct selling channel recorded the fastest growth rate of 8.4%, as consumers increasingly desire to physically experience and smell the oils before purchasing them.
• Europe: Europe exhibited the highest growth rate of 8% compared to other regions. This growth is largely due to the strong presence of the food and beverage industry, high disposable incomes, and elevated living standards in the region.
• Market Competitiveness: The global essential oils market is highly competitive, with numerous manufacturing companies operating in the space, which adds to the market’s dynamism and competition.
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Essential Oils Market Segmentation
Grand View Research has segmented the global essential oils market report on the basis of product, application, sales channel, source, method of extraction, and region
Essential Oils Product Outlook (Volume, Tons; Revenue, USD Thousands, 2018 - 2030)
• Acorus Calamus
• Ajowan
• Basil
• Black pepper
• Cardamom
• Carrot Seed
• Cassia
• Cedarwood
• Celery
• Cinnamon
• Citronella
• Ciz-3 Hexanol
• Clove
• Cornmint
• Cumin Seed
• Curry Leaf
• Cypress
• Cypriol
• Davana
• Dill Seed
• De-Mentholised Peppermint
• Eucalyptus
• Fennel
• Frankincense
• Garlic
• Ginger
• Holy Basil
• Juniper Berry
• Lavender
• Lemon
• Lemongrass
• Lime
• Mace
• Mustard
• Neem
• Nutmeg
• Orange
• Palmarosa
• Patchouli
• Pepper Mint
• Rosemary
• Spearmint
• Tangerine
• Tea Tree
• Turmeric
• Vetiver
• Ylang Ylang
• Others
Essential Oils Application Outlook (Volume, Tons; Revenue, USD Thousands, 2018 - 2030)
• Medical
o Pharmaceutical
o Nutraceuticals
• Food & Beverages
o Bakery
o Confectionery
o Dairy
o RTE Meals
o Beverages
o Meat, Poultry & Seafood
o Snacks & Nutritional Bars
• Spa & Relaxation
o Aromatherapy
o Massage Oil
o Personal Care
o Cleaning & Home
Essential Oils Method of Extraction Outlook (Volume, Tons; Revenue, USD Thousands, 2018 - 2030)
• Distillation
• Cold Press Extraction
• Carbon Dioxide Extraction
• Others
Essential Oils Source Outlook (Volume, Tons; Revenue, USD Thousands, 2018 - 2030)
• Fruits & Vegetables
• Flowers
• Herbs & Spices
Essential Oils Sales Channel Outlook (Volume, Tons; Revenue, USD Thousands, 2018 - 2028)
• Direct Selling
• Others
Essential Oils Regional Outlook (Volume, Tons; Revenue, USD Thousands, 2018 - 2030)
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o France
o U.K.
o Spain
o Italy
• Asia Pacific
o China
o India
o Japan
o Taiwan
o South Korea
o Singapore
o Australia
• Middle East & Africa
• Central America
• South America
o Brazil
o Argentina
List of Key Players of Essential Oils Market
• Sydney Essential Oil Co. (SEOC)
• Biolandes SAS
• India Essential Oils
• H. Reynaud & Fils (HRF)
• Young Living Essential Oils
• DoTerra
• Essential Oils of New Zealand
• Farotti S. R. L.
• Flavex Naturextrakte GmbH
• Falcon
• Ungerer Limited
Order a free sample PDF of the Essential Oils Market Intelligence Study, published by Grand View Research.
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