Global Essential Oils Market to Grow with a CAGR of 7.5% through 2028
The global essential oils market is experiencing
significant growth driven by the rising demand for natural and holistic
remedies, expanding applications in the cosmetics and personal care industry,
and the increasing use of essential oils in the food and beverage sector.
According to the
TechSci Research report, “Essential Oils Market – Global Industry Size,
Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F”, the Global Essential Oils market
stood at USD21.62 billion in 2022 and is anticipated to grow with a CAGR of 7.5%
in the forecast period, 2024-2028. The global essential oils market is a
thriving and dynamic sector within the broader natural products and wellness
industry. Essential oils, often referred to as "nature's aromatic
treasures," are volatile compounds extracted from plants, flowers, herbs,
and other botanical sources. These oils have been used for centuries for their
therapeutic, aromatic, and culinary properties, and their popularity continues
to grow in the modern era.
One of the primary drivers of
the global essential oils market is the increasing consumer interest in natural
and holistic health and wellness solutions. As people seek alternatives to
synthetic and chemical-laden products, essential oils have gained immense
popularity for their perceived purity and therapeutic benefits. Essential oils
are widely used in aromatherapy, where their aromas and therapeutic properties
are harnessed to promote physical, emotional, and mental well-being.
The demand for essential oils
is also influenced by the growing interest in complementary and alternative
medicine. Many consumers are exploring natural remedies and incorporating
essential oils into their daily routines to address various health concerns.
The versatility of essential oils allows them to be used for purposes ranging
from stress relief and relaxation to alleviating common ailments like
headaches, congestion, and muscle soreness.
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Essential oils
are increasingly being integrated into personal care and cosmetic products.
Their natural fragrance, antimicrobial properties, and skin-nourishing
qualities make them valuable ingredients in skincare, haircare, and body care
formulations. Consumers are drawn to products that contain essential oils due
to their perceived authenticity and potential benefits for the skin and hair.
The food and
beverage industry is another significant driver of the global essential oils
market. Essential oils are used as natural flavoring agents in a wide range of
culinary applications, including baking, confectionery, and beverage production.
Their concentrated flavors can enhance the taste and aroma of food and drinks
while allowing manufacturers to reduce the use of artificial flavors and
additives.
Furthermore, the
global essential oils market benefits from the increasing interest in
aromatherapy and spa treatments. Spa and wellness centers around the world
incorporate essential oils into massages, facials, and other therapies,
enhancing the overall experience for clients. This has created a steady demand
for high-quality essential oils in the professional spa and wellness industry.
The global
essential oils market is also influenced by the sustainability and responsible
sourcing of raw materials. As the popularity of essential oils has grown, so
too has the demand for the plants from which they are extracted. This has led
to concerns about overharvesting and the depletion of certain plant species. To
address these issues, industry stakeholders are increasingly focused on
sustainable cultivation and ethical sourcing practices to ensure the long-term
availability of essential oil-producing plants.
However, the
global essential oils market is not without its challenges. One significant
challenge is the risk of adulteration and fraudulent labeling. As the demand
for essential oils has surged, so too has the incidence of adulterated or
diluted oils on the market. Some unscrupulous producers or suppliers may mix
essential oils with cheaper oils or synthetic compounds to increase their
profit margins. This presents a significant concern for consumers seeking
high-quality, pure essential oils.
Additionally, the
stringent regulations and quality standards surrounding essential oils can be a
hurdle for producers and exporters. Different countries and regions may have
varying regulations governing the production, labeling, and marketing of
essential oils. Meeting these regulatory requirements and ensuring compliance
can be a complex and costly process for businesses operating in the global
market.
The global essential
oils market is segmented based on product type, application, distribution
channel, and region.
Based on the product type, the
market is segmented into orange, eucalyptus, peppermint, lemon, citronella, and
others. Among these, the orange segment has a significant share in the global
essential oils market during the forecast period. One of the primary reasons
for the orange segment's strong presence in the essential oils market is the
widespread availability of orange trees and the large-scale production of
oranges globally. Citrus sinensis, commonly known as sweet orange, is cultivated
in numerous countries, with major producers including Brazil, the United
States, China, and India.
Based on region, the market
is segmented into North America, Europe, Asia Pacific, Middle East &
Africa, and South America. Among these, the Europe region has a significant
share of the global essential oils market during the forecast period. Europe
has a rich history and heritage of using essential oils for various purposes,
including aromatherapy, perfumery, and traditional medicine. Countries like
France and Bulgaria, for example, have long been associated with the
cultivation of aromatic plants and the production of high-quality essential
oils. This historical expertise and tradition have positioned Europe as a
prominent player in the essential oils market.
Major companies operating in the
global essential oils market are:
- KATO
Flavors & Fragrances (KFF)
- Herbal
Family
- Robertet
- Food
Base Kft
- A.
Fakhry & Co.
- Lebermuth,
Inc.
- Givaudan
SA
- Sydney
Essentials
- Phoenix
Aromas & Essential Oils, LLC
- Doterra
Holdings, LLC
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“The global essential oils
market is a vibrant and evolving industry driven by increasing consumer
interest in natural and holistic wellness solutions. Essential oils have found
their way into various applications, from aromatherapy and personal care
products to culinary and spa treatments. While the market presents significant
opportunities, it also faces challenges related to quality, sustainability, and
regulation. As consumers continue to prioritize natural and authentic products,
the essential oils market is likely to remain a dynamic and essential component
of the global wellness and natural products landscape.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based global management
consulting firm.
“Essential Oils Market By
Product Type (Orange, Eucalyptus, Peppermint, Lemon, Citronella and Others), By
Application (Food & Beverages, Medical, Spa & Relaxation, Cleaning
& Home), By Distribution Channel (Direct, Indirect), By Region, By Competition Forecast & Opportunities, 2018-2028F,
has evaluated the future growth potential of the essential
oils market globally and
provides statistics and information on market structure, size, share, and
future growth. The report provides cutting-edge market intelligence and helps decision-makers
to make sound investment decisions. Besides, the report also identifies the
emerging trends along with essential drivers, challenges, and opportunities
present in the market of essential oils globally.
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