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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Essential Oils 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.
Essential Oils Market Report Snapshots
Essential Oils Market Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the essential oils market was valued at USD 10.59 billion.
The market is projected to grow at a CAGR of 9.6% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of USD 24.16 billion by 2032.
The major drivers of the market are growing demand for natural products, increasing awareness regarding health and wellness, and rising demand across significant industries.
The key trends guiding the growth of the market include the rising consumer awareness of the multiple uses of the product, customisation of essential oils, and their use as a functional fragrance.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Mentha oil, orange oil, peppermint oil, and clove oil are the leading types in the global essential oils market.
Flavour and fragrance, industrial, and pharmaceuticals are the major applications of essential oils.
The major players in the market are Lebermuth, Inc., Sydney Essential Oil Co., Biolandes SA, Young Living Essential Oils, Givaudan SA, Farotti SRL, Robertet SA, Others.
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