The latest report by IMARC Group, titled “Essential Oils Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032“, offers a comprehensive analysis of the industry, which comprises insights on the global essential oils market share. The global market size reached US$ 12.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 24.5 Billion by 2032, exhibiting a growth rate (CAGR) of 7.8% during 2024-2032.
Essential oils are natural plant extracts obtained from various plant parts like wood, bark, fruits, roots, seeds, stems, leaves, and flowers using methods such as steam distillation, expression, and carbon dioxide processes. Commonly recognized essential oils include basil, lemon, orange, lavender, peppermint, tea tree, lemongrass, jasmine, eucalyptus, ylang-ylang, bergamot, rosemary, chamomile, cedarwood, sandalwood, patchouli, cinnamon, and clary sage. These oils are valued for their distinct fragrances and are commonly used in the production of shampoos, soaps, perfumes, and cleaning products. They are also sought after for their mood-enhancing and therapeutic properties, which can aid in improving sleep, reducing inflammation and nausea, relieving stress, anxiety, and pain, and alleviating headaches. Due to these benefits, essential oils are extensively employed in various industries including cleaning, spa, medical, relaxation, food, and beverage worldwide.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/essential-oils-market/requestsample
Essential Oils Market Trends and Drivers:
The market is being primarily influenced by the rising occurrence of respiratory, dermatological, and dental issues. Furthermore, the uptick in essential oils being utilized as remedies for respiratory ailments like bronchitis and cough, serving as carminatives, decongestants, expectorants, and antibacterial agents, is fueling market expansion. Concurrently, changing consumer lifestyles and increased awareness about the health benefits of essential oils – such as enhancing sleep quality and focus, reducing headaches, and boosting mood – are driving market growth. Additionally, the surge in demand for essential oils in the food and beverage sector as natural additives that enhance flavor profiles in various products like meat, pickles, confections, candies, and soft drinks is a significant growth factor. Moreover, the escalating popularity of essential oils in aromatherapy treatments due to their antiviral, antifungal, and anti-inflammatory properties is accelerating adoption rates. The widespread use of essential oils in personal care products such as fragrances, perfumes, cosmetics, body sprays, toiletries,and air fresheners is also propelling market expansion. Regional variations are observed in the growth rates within the essential oils market; Europe stands out as a major player due to increasing awareness about these oils’ benefits coupled with a growing inclination towards aromatherapy practices and extensive use of essential oils in cosmetics manufacturing. Competition within the industry is expected to intensify over time with key players implementing competitive strategies to maintain their market presence. For instance,in June 2019 Robertet unveiled an innovative product – an encapsulated powdered essential oil leveraging new technology that employs prebiotic insulin as a carrier for enhanced absorption into powders,making it suitable for use within the nutraceutical sector.This advancement aligns with a broader trend towards natural and organic products within personal care,suggesting a positive outlook for the industry.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Product:
- Cedarwood Oil
- Eucalyptus Oil
- Lavender Oil
- Lemongrass Oil
- Rosemary Oil
- Tea Tree Oil
- Ylang Ylang Oil
- Others
Breakup by Application:
- Medical
- Pharmaceutical
- Nutraceuticals
- Food and Beverages
- Bakery and Confectionery
- Beverages
- Meat, Poultry and Seafood
- Others
- Spa and Relaxation
- Aromatherapy
- Personal Care
- Cosmetics
- Toiletries
- Others
- Cleaning
- Kitchen Cleaners
- Floor Cleaners
- Bathroom Cleaner
- Others
- Others
Breakup by Sales Channel:
- Offline Stores
- Online Stores
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Biolandes
- doTerra
- Essential Oils of New Zealand Ltd.
- Falcon Essential Oils
- Farotti S.R.L.
- FLAVEX Naturextrakte GmbH
- H. Reynaud & Fils
- India Essential Oils
- Moksha Lifestyle Products
- Rocky Mountain Oils LLC
- Sydney Essential Oil Co. (SEOC)
- The Lebermuth Company
- Ungerer Limited
- Young Living Essential Oils.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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