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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Essential Oils Market Size
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.
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.
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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