Market Overview:
The global Essential Oils Market Was Valued at USD 12.14 Billion in 2023 And Is Expected to Reach USD 25.52 Billion by The Year 2030, At A CAGR Of 11.2%.
The term "essential oil" refers to any class of volatile oils made by extracting the odor and other distinctive properties of plants for use primarily in the pharmaceutical, cosmetic, and food and beverage industries. Natural oils separated from the plants, for example, lemongrass, cinnamon, cassia, orange, lemon, ginger, Curcuma, rose, clove and others make different items like various kinds of oils and other sub-items. The essential oils market also expanded due to rising consumer preferences for veganism, organic foods, and plant-based products.
Top Key Players Covered In The Essential Oils Market:
- Cargill Incorporated (US)
- Givaudan S.A. (Switzerland)
- Rocky Mountain Oils LLC. (USA)
- Indian Essential Oils (India)
- Ungerer Ltd. (US)
- DowDuPont (US)
- Koninklijke DSM N.V. (Netherlands)
- Young Living Essential Oils (US)
- dôTERRA (US)
- ROBERTET S.A. (France), and Other Major Players.
Market Dynamics and Factors:
Developing the interest assuming medicinal oils in the drug business attributable to the different medical advantages related to them. Additionally, eucalyptus oil, chamomile oil, peppermint oil, frankincense oil, lavender oil, tea tree oil, and eucalyptus oil are utilized in medical applications due to their numerous health benefits, including the following: alleviates muscle aches and pains; treats respiratory and sinus infections; has antiviral properties; heals wounds and burns; relaxes the body; reduces anxiety; alleviates insomnia; supports immunity; combats tumor growth.
There is a growing demand for organic and natural products in a variety of industries, including food and beverage, cosmetics, and others. This creates numerous opportunities for manufacturers to produce goods containing natural ingredients. There would be a chance to develop new products and innovate R&D activities because everyone needs different product segments for use or consumption from all product sectors. For instance, a line of natural bar soap made with organic, natural essential oils was introduced by Eden's Garden in April 2018. The company's growth rate would be boosted by this new market segment and product line. The growth of the business in the future would benefit from this product.
Essential Oils Market Report Highlight:
- By Type, the Orange Essential Oils segment is anticipated to lead the growth of the Essential Oils market in the forecasted timeframe. Orange essential oil is increasingly being used by significant end-use industries to enhance the sensory appeal and product value. It is said to support skin elasticity, firmness, and toning. It is also used to treat dermatitis, acne, and stretch marks.
- By Application, the Cosmetics & Personal Care segment is expected to have the highest share of the Essential Oils market over the projected period. Due to its usage in relaxing treatments, personal care has become a significant market area within spa & relaxation in the worldwide essential oil industry. They are employed in makeup, color cosmetics, and hair and skin beautification.
- By Extraction Methods, the Distillation segment is expected to the growth of the Essential Oils market in the forecasted period. Using distillation, aromatic chemicals are created. The most cost-effective way is distillation, which may be done nearby the plant's producing area using basic equipment. It might be ascribed to its ability to keep the advantages of the oil and its affordability.
- By Distribution Channels, the online segment is set to develop at the highest share during the forecasted timeframe. In addition to their current over-the-counter sales, the majority of importers and wholesalers have created websites for online sales. The product distribution channels are projected to get more complicated as some sellers concentrate only on Internet sales to increase their global distribution.
- The North American region is expected to have the highest share of the Essential Oils market over the projected period. The US essential oils industry is expanding as a result of growing consumer worries about the effects of chemical ingredients in foods and cosmetics as well as increased public knowledge of the advantages of using essential oils.
Key Industry Development:
- In November 2019, Young Living Essential Oils started a new office in the South Africa market, the first Young Living market on the African continent. This will enhance the company growth rate in the South African market.
- In October 2020, dôTERRA announced various new essential oil products segment, including three latest wellness programs introduced to help individuals focus on their specific health goals.
Essential Oils Market Segmentation:
By Type
- Jasmine Oil
- Lemon Oil
- Lavender Oil
- Orange Oil
- Others
By Application
- Food & Beverages
- Cosmetics & Personal Care
- Home Care
- Health Care
- Pharmaceuticals
- Others
By Extraction Methods
- Distillation
- Cold Press Extraction
- Solvent Extraction
- Co2 Extraction
By Distribution Channels
- Supermarket/Hypermarkets
- Pharmacies
- Specialty Store
- Online
- Other
For this report, Introspective Market Research has segmented the Essential Oils Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America
- The U.S.
- Canada
- Mexico
Eastern Europe
- Russia
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- Singapore
- Australia
- New-Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
