The global essential oils market size is expected to reach USD 40.12 billion by 2030, and expanding at a CAGR of 7.9% from 2024 to 2030, as per the new report by Grand View Research, Inc Key factor contributing to the demand for essential oil is that aromatherapy is rapidly gaining momentum as a convenient method of healing lifestyle diseases. The sales volume of essential oils is rising on the account of the rising consumer awareness related to the wide utilization of the product across various applications.
They are primarily made of terpenes and their oxygenated derivatives which usually include monoterpenes, sesquiterpenes, etc. They are present in specialized cells/glands in various plants and the position of these glands varies depending on the morphology, and physiology of the plant. During the manufacturing process, these glands are ruptured by pressing or by application of heat, which emanates aroma.
The product is widely used for enhancement of air freshness at home with the help of aroma diffusers and addition of essential oils in aroma pots. It is added to the water or baths in order to relax muscles and improve the aroma of place. Young women use these products for making homemade cosmetics due to their natural content and medicinal benefits.
Increasing demand for organic products is influencing consumer trends across the globe. Further implementation of regulations favoring the use of environmentally friendly ingredients in cosmetics, and food & beverage industry. The increased the consumer’s interest for products produced from natural ingredients. A majority of the global population are shifting their preference to organic products which in turn is increasing the demand for plant based products, leading to a significant drop in the demand for synthetic fragrances.
Owing to the outbreak of coronavirus around the world, many countries experienced lockdown situations. This had led to major raw material shortages, disruption in the supply chain, and increased prices for highly demanded products for two to three quarters in 2020. Moreover, the restrictions on imports & exports of goods by any means from most of the South East Asian countries further worsened the situation. However, the temporary closure or slowing down of manufacturing plants of synthetic flavors & fragrances in China led to a rise in opportunity for essential oil distillers, as the manufacturers turned to smaller vendors to fulfill their raw material requirements.
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Cleaning & home witnessed the fastest growth rate of 7.7%, due to the presence of antifungal and antibacterial properties of essential oils
Black pepper witnessed one of the fastest growth rate of 8% on the account of its wide use in food & beverage, spa & relaxation, and medical sectors
Direct selling channel witnessed the fastest growth rate of 8.4%, as consumers have the need to smell and feel the oils in person
Europe witnessed the fastest growth rate of 8% as compared to other regions, due to strong presence of food & beverage industry in the region, coupled with high disposable income and high standards of living
The global product market is highly competitive on the account of the presence of multiple manufacturing companies operating in the market
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
Pharmaceutical
Nutraceuticals
Food & Beverages
Bakery
Confectionery
Dairy
RTE Meals
Beverages
Meat, Poultry & Seafood
Snacks & Nutritional Bars
Spa & Relaxation
Aromatherapy
Massage Oil
Personal Care
Cosmetics
Hair Care
Skin Care
Sun Care
Makeup And Color Cosmetics
Toiletries
Soaps
Shampoos
Men's Grooming
Oral Care
Baby Care
Fragrances
Perfumes
Body Sprays
Air Fresheners
Cleaning & Home
Kitchen Cleaners
Floor Cleaners
Bathroom Cleaner
Fabric Care
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
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Spain
Italy
Asia Pacific
China
India
Japan
Taiwan
South Korea
Singapore
Australia
Middle East & Africa
Central America
South America
Brazil
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