Essential Oils Market Forecasts to 2028 – Global Analysis By Type, Method of Extraction, Application (Food & Beverages, Spa & Relaxation, Medical, Cleaning & Home, Other Applications), Distribution Channel and By Geography
According to Stratistics MRC, the Global Essential Oils Market is accounted for $8.46 billion in 2020 and is expected to reach $19.78 billion by 2028 growing at a CAGR of 11.2% during the forecast period. Growth in research & development activities, increase in demand for aromatherapy, and rise in demand for natural ingredients are the major factors propelling the market growth. However, depletion of natural resources and side-effects associated with certain essential oils are hampering the market growth.
An essential oil is a concentrated hydrophobic liquid containing volatile (easily evaporated at normal temperatures) chemical compounds from plants. Essential oils are also known as volatile oils, ethereal oils, aetheroleum, or simply as the oil of the plant from which they were extracted, such as oil of clove. An essential oil is essential in the sense that it contains the essence of the plant's fragrance which is the characteristic fragrance of the plant from which it is derived. The term essential used here does not mean indispensable or usable by the human body, as with the terms essential amino acid or essential fatty acid, which are so called because they are nutritionally required by a given living organism.
Based on application, the spa & relaxation segment is going to have a lucrative growth during the forecast period owing to the rising awareness about using natural and organic products. Personal care emerged as another important segment within spa and relaxation in the global market. Essential oils are majorly used in cosmetics, toiletries, and fragrances. In personal care, they are used in various applications, including beautifying the hair and skin, makeup, and color cosmetics.
By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the presence of a large population, along with various untapped markets, which are likely to attract key players’ attention to expand and establish their operation and distribution facilities in this region.
Some of the key players profiled in the Essential Oils Market include BIOLANDES SAS, Cargill, Inc, dôTERRA International LLC, DuPont, Falcon, Farroti, Firmenich SA, Givaudan SA, International Flavors & Fragrances Inc, Koninklijke DSM N.V, Mane, ROBERTET SA, Rocky Mountain Oils LLC, Sensient Technologies Corporation, Symrise, The Lebermuth Company, Inc, Ungerer Limited, and Young Living Essential Oils.
Estimated Market Size in 2020:
USD 8.46 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 19.78 billion
Tables, Graphs& Figures
Type, Method of Extraction, Application, Distribution Channel and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Citronella Oil
• Clove Leaf Oil
• Cornmint Oil
• Eucalyptus Oil
• Geranium Oil
• Jasmine Oil
• Lavender Oil
• Lemon Oil
• Lime Oil
• Orange Oil
• Peppermint Oil
• Rosemary Oil
• Spearmint Oil
• Tea Tree Oil
• Other Oil Types
Method of Extractions Covered:
• Carbon Dioxide Extraction
• Cold Press Extraction
• Solvent Extraction
• Other Extraction Methods
• Food & Beverages
• Spa & Relaxation
• Cleaning & Home
• Other Applications
Distribution Channels Covered:
• Direct Distribution
• Multi-Level Marketing (MLM) Distribution
• Retail Distribution
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Essential Oils Market is majorly driven by improvements in the standard of living along with increase in demand for aromatherapy, rise in double income households, and growth in awareness toward preventive healthcare.
The spa & relaxation segment is growing at a highest CAGR owing to the surge in awareness about using natural and organic products.
Asia Pacific dominated with a significant market share due to the factors such as presence of a large population, along with various untapped markets across the region.
Europe market is growing at a highest CAGR owing to the easy feedstock availability and the presence of various industry players in the region.
Key players in Essential Oils Market include BIOLANDES SAS, Cargill, Inc, dôTERRA International LLC, DuPont, Falcon, Farroti, Firmenich SA, Givaudan SA, International Flavors & Fragrances Inc, Koninklijke DSM N.V, Mane, ROBERTET SA, Rocky Mountain Oils LLC, Sensient Technologies Corporation, Symrise, The Lebermuth Company, Inc, Ungerer Limited, and Young Living Essential Oils.
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