The global demand for the essential oils market is anticipated to reach 473.31 kilotons by the year 2027, as per an expansive study by Grand View Research, Inc. The report projects the industry to advance at a CAGR of 7.5% from 2020 to 2027. The continued growth in the popularity of Aromatherapy as an effective method of combating lifestyle disorders, has heavily contributed to the global demand for essential oils. Besides aromatherapy, essential oils also find widespread utilization in areas such as food and beverage manufacturing, as well as pharmaceuticals, and personal care and cosmetics products. The abundance in variety of products being available for consumers, with each product offering a particular set of health and wellness benefits, is a major industry driver. Essential oils are majorly composed of terpenes and their oxygenated derivatives, and are present in specialized cells/glands in various plants. During manufacturing process, these glands are ruptured either through pressing or by application of heat, which releases aroma. The product is composed of aromatic compounds, which are volatile as well as hydrophobic in nature.
Essential oils are utilized by consumers for a number of purposes, such as enhancing air freshness at home by adding drops in aroma pots or aroma diffusers, and in aroma bath by adding oils to the water. The rising trend of DIY in cosmetics and personal care products has heightened the demand for essential oils, especially among young women. Availability of cosmetics experts on social media platforms has also encouraged consumers to buy various types of essential oils, or prepare home-made solutions using them. A major trend that has compelled manufacturers to innovate and experiment is the demand for organic products, owing to introduction of regulations favoring the use of environmentally friendly ingredients in cosmetics. In this aspect, the industry has witnessed a sharp increase in demand for 100% plant-based products that are devoid of synthetic fragrances and animal-derived components. The advent of the COVID-19 pandemic led to various supply chain disruptions in the early months of the outbreak, with raw material shortages, increase in prices of ingredients, and trade closures harming the advancement of the essential oils industry.
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Essential Oils Market Report Highlights
• A range of essential oils have shown to possess desirable properties for consumers, which include antimicrobial, antiviral, antifungal, and antioxidant benefits. As such, there demand across the globe has seen a promising increase in recent years, thus driving the industry
• The major uses in aromatherapy and relaxation aside, essential oils are also used in various homecare and personal care applications. A number of major manufacturers of perfumes, air fresheners, and body sprays have made essential oils a mainstay in their ingredients. Manufacturing of soaps and shampoos has seen widespread use of products such as tea tree, patchouli, and rosemary, which is a significant contributor to the essential oils market growth
• In terms of product, the orange oil segment is expected to advance at a CAGR of 7.4% over the forecast period in the essential oils market. The product is notable for promoting elasticity and toning up of the skin, while also proving its worth in issues such as stretch marks, dermatitis, and acne
• With regards to application, in 2019, the spa and relaxation segment accounted for the highest share in the essential oils market, on account of the increasing consumer preference for undergoing stress-relieving therapies such as aromatherapy, as an effective means to counter their busy lifestyles
• The market for essential oils is highly established in Europe, on account of the widespread presence of various major companies in this space in the region, as well as convenient feedstock availability. Furthermore, the presence of organizations such as the European Federation of Essential Oils (EFEO) is expected to further regulate and advance the industry in the future
• The coronavirus outbreak has provided an opportunity for essential oil manufacturers to drive their sales through incorporation of the product in hand sanitizers and lotions. With guidelines in place that necessitate usage of sanitizers by households and commercial facilities, the rising demand can be a significant enabler for industry growth in the near future
• The demand for essential oils is expected to be influenced by various researches regarding the efficacy of various types of ingredients. For instance, cellular research published in the Cosmetics Journal in 2020 found that the Indian sandalwood oil is a more potent antioxidant than vitamin E. This is expected to drive the usage of this oil as an anti-aging active ingredient in cosmetics and dermatology
• Companies involved in the essential oils market implement strategies such as mergers and acquisitions, partnerships, new product launches, and geographical expansion, as a means to drive their growth. For instance, in June 2021, doTERRA announced the opening of a new facility in Thailand, thus expanding its presence in Southeast Asia
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Essential Oils Market Segmentation
Grand View Research has segmented the global essential oils market on the basis of product, application, sales channel, and region:
Essential Oils Product Outlook (Volume, Tons; Revenue, USD Thousands, 2016 – 2027)
• 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
• Others
Essential Oils Application Outlook (Volume, Tons; Revenue, USD Thousands, 2016 – 2027)
• 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 Sales Channel Outlook (Volume, Tons; Revenue, USD Thousands, 2016 – 2027)
• Direct Selling
• Others
Essential Oils Regional Outlook (Volume, Tons; Revenue, USD Thousands, 2016 – 2027)
• North America
• U.S.
• Mexico
• Canada
• Europe
• Germany
• U.K.
• France
• Asia Pacific
• China
• India
• Japan
• Singapore
• Australia
• Taiwan
• South Korea
• Central America
• South America
• Middle East & Africa
List of Key Payers 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
• West India Spices Inc.
• Falcon
• Ungerer Limited
• The Lebermuth Company
• Rocky Mountain Essential Oils
• Moksha Lifestyle Products
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About Grand View Research
Grand View Research is a market research and consulting company registered in the State of California having its headquarters in San Francisco. The company offers syndicated research reports, customized research reports, and consulting services. With Grand View Research, you get an opportunity to understand market trends, insights, and business statistics from a strategic standpoint. With a deep-seated understanding of many business environments, Grand View Research offers business and market intelligence studies and accomplishes more than 300 multi-country market studies.
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