Global Essential Oils Market Report and Forecast 2024-2032

Global Essential Oils Market Outlook

The global essential oils market is being driven by the rising production and availability of the products. In 2023, the essential oils market valued at USD 10.59 billion. It is expected to further grow at a CAGR of 9.6% between 2024 and 2032 to reach a value of USD 24.16 billion by 2032.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

In 2018, the industry reached a value of USD 6.91 billion. The essential oils market is significantly supported by a few essential oils such as mint oil, orange oil, and clove oil. India and China are the major sourcing regions for mentha oils. More than half of the global orange oil production takes place in Brazil. It is followed by the United States. The clove oil production is dominated by Indonesia, which produces more than 75% of clove oil globally. Madagascar is also a leading producer of clove oil.

Many developing countries, such as India, Indonesia, and Brazil, are the leading producers and exporters of a variety of essential oils in the global market. Increasing consumer awareness of the medicinal and soothing properties of essential oils are the key drivers of the industry. Some segments of essential oil are also finding extensive application in the food and beverage sector as edible oils, with orange oil being the leading segment. Their rising use in the food and beverage industry is being driven by the increasing demand for natural flavours and ingredients.

Market Segmentation

Essential oils refer to oils derived from natural sources. They capture the fragrance and flavour of the plant, or "essence." Unique aromatic compounds give every essential oil its distinctive essence. They are most widely used in the study of aromatherapy, in which they are inhaled by various methods. The major types of essential oils are:

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

• Mentha Oil
• Orange Oil
• Peppermint Oil
• Clove Oil
• Others

They find their applications in:

• Flavour and Fragrance
• Industrial 
• Pharmaceuticals

The mentha oil finds its end-uses in the production of tobacco, cosmetics, confectionery, pharmaceuticals, and oral care, among others. Its major regional markets are India, China, Brazil, and the United States, among others. Orange oil is used in personal care, food, and pharmaceuticals, among others. The major regional markets for orange oil are Brazil, the United States, the European Union, Mexico, and China, among others. Peppermint oil, meanwhile, also finds its end-uses in personal care, food, and pharmaceuticals, among others. The United States, India, China, and Brazil among others, are its major regional markets.

The global clove oil market is further divided into products, namely, clove leaf, clove stem, and clove bud oil. It finds its end-uses in food and beverages, pharmaceutical, household care, tobacco, fabric care, and other sectors. The regional markets for the product include Indonesia, Madagascar, Sri Lanka, Comoros, and Tanzania, among others.

The report also covers the regional essential oils markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Market Analysis

The essential oils market is significantly driven by the growing demand for natural products. These oils are concentrated and usually have less or no adulteration. A transition from synthetic to natural additives is witnessed owing to the growth in the organic products sector. The increasing awareness regarding health and wellness among the consumers is also aiding the industry growth. The increased application of essential oil in the making of natural flavours and fragrances due to their rising demand across significant industries is also expected to propel the essential oils market growth further. The demand for personal care products, where essential oils are being used in products such as body scrubs, lotions, etc., is expected to increase at a high growth rate, thus, supporting the forecast growth of the essential oils market.

Essential oils are significantly used in spas and therapies. Rising consumer awareness about the medical and relaxing properties of essential oils are the major driving factors of the market. The growing consumer awareness and their increasing demand for natural organic ingredients are expected to increase the demand for essential oils. Major companies are also investing in essential oils-based products, thus, driving the demand for the products. The demand for lemon oil, particularly, is expected to increase among consumers in the coming years, driven by high consumer awareness of its multiple uses as a relaxant, household cleaner, and in skin care applications. The cosmetics market is a crucial driver for the lavender oil demand as it is used in the production of multiple cosmetic products.

The pharmaceutical market also uses essential oils. Oils like onion oil, lemon oil, eucalyptus oil, etc, have medicinal uses and, thus, are used to treat problems topically. The market for mint oil is growing due to the increasing overseas demand for Indian produced menthol. Clove oil, on the other hand, is abundantly used as an anaesthetic in aquariums to euthanize sick or diseased fish by giving an overdose. It is also finding rising use in mouse traps.

Competitive Landscape

The report gives a detailed analysis of the following key players in the global essential oils market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Lebermuth, Inc.
• Sydney Essential Oil Co.
• Biolandes SA
• Young Living Essential Oils
• Givaudan SA
• Farotti SRL
• Robertet SA
• Others

The comprehensive EMR report provides an in-depth assessment of the industry based on Porter's five forces model, along with giving a SWOT analysis.

Key Highlights of the Report

Essential Oils Market Report Snapshots

Essential Oils Market Size

Essential Oils Market Analysis

Essential Oils Companies