Essential Oils Market Research, 2030
With a rise in busy lifestyles and hectic schedules, people seek stress releasing and relaxing therapies. Some oils such as lavender, mandarin, and rose have a relaxing and stimulating effect on the body and mind. Oils such as lavender, known for its strong aromatic fragrance is used in spa and aromatherapy sessions. They are known to soothe spiritual health, mental health, emotional wellness, and sleep solutions. As essential oils are highly concentrated, they need to be diluted with carrier oil before direct application on the body. Thus, owing to the above-mentioned factors there is an increase in the adoption of essential oils in aromatherapy. The rise in demand for natural substance in food & beverages as well as in the fragrance & personal care industry has encouraged manufacturers to adopt usage of essential oils in the cosmetics, perfumes, and food & flavoring sectors. Synthetic substances result in lung diseases, skin allergies, and respiratory problems, and affect the functioning of the brain. Essential oils are made of natural extracts of plants and thus are completely safe without any side effects. Unlike synthetics, naturally produced essential oils do not block body functions and leave toxic waste and thus are majorly preferred
The global essential oils market was valued at $10,886.50 million in 2020, and is projected to reach $24,735.11 million by 2030, growing at a CAGR of 8% from 2021 to 2030.
An essential oil is a liquid that is generally distilled from the stems, leaves, seeds, roots, or flowers of the plant. The commonly used essential oil used are lavender, tea tree, orange, lemon, peppermint, cornmint, and others. These oils are antibacterial, antiviral, antifungal, and antimicrobial. They by-pass the digestive system easily and thus are beneficial for people with poor digestion/assimilation. Moreover, essential oils are highly oxygenating and are suitable for infants since they cannot swallow tablets and capsules.
The growth of the essential oils market can be attributed to usage of essential oils in various applications such as flavor & fragrance, aromatherapies, and others. Moreover, healing benefits of essential oil are expected to be instrumental in governing peak sales paving the way for essential oils market growth. Furthermore, wide scale adoption of essential oils in industrial, commercial, and household applications also drive the global market. However, high price of essential oils act as the major restraint for the market. On the contrary, increase in demand for essential oil as natural preservatives is expected to provide opportunities for the growth of the essential oils market.
The essential oils market is segmented on the basis of product type, application, distribution channel and region. The product type segment is further classified into orange, eucalyptus, cornmint, peppermint, citronella, lime, lemon, clove, spearmint, and others. By application, the essential oils market is classified into food & beverages, medical, cleaning & home, spa & relaxation, and others. The others applications include usage of essential oil in paints, textile industries, tobacco, paper manufacturing, and agrochemicals. On the basis of distribution channel the global market is studied across direct distribution, MLM distribution and retail distribution. The retail distribution channel is further segmented into supermarket/ hypermarket, e-commerce, retail stores, pharmaceutical stores and others. By region, the market is categorized into North America, Europe, Asia-Pacific, and LAMEA.
The players in the essential oils industry have adopted product launch and acquisition as their key development strategy to increase profitability, and to improve stance in the essential oils market. The key players have also relied on business expansion to stay relevant in the market. The key players profiled in the report include doTERRA International, Biolandes, Sydney Essential Oils Co. Pty Ltd., Young Living Essential Oils, Farotti SRL, The Lebermuth Company, Essential Oils of New Zealand, H.Reynaude & Fils, Moksha Lifestyle Products, and West India Species, Inc.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the essential oils market analysis from 2020 to 2030 to identify the prevailing essential oils market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the essential oils market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global essential oils market trends, key players, market segments, application areas, and market growth strategies.
Essential oils Market Report Highlights
| Aspects | Details |
 By Application |
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 By Distribution Channel |
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 By Type |
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 By Region |
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 Key Market Players | SYDNEY ESSENTIAL OIL CO., MOKSHA LIFESTYLE PRODUCTS, THE LEBERMUTH COMPANY, FAROTTI ESSENZ SRL, H. REYNAUD and FILS, DTERRA INTERNATIONAL LLC, YOUNG LIVING ESSENTIAL OILS, BIOLANDES, WEST INDIA SPICES INC., ESSENTIAL OILS OF NEW ZEALAND LTD. |
Analyst Review
According to the insights of CXOs of leading companies, the essential oil market holds high potential in the food & beverage industry. Presently, the essential oils market is dominated by orange and cornmint oils; however, peppermint, lime, and lemon essential oils generated a notable revenue in 2020 and are expected to gain significant market share during the forecast period. Moreover, regulations imposed by the U.S. Food and Drug Administration on essential oils used as flavors and regulations imposed by Consumer Product Safety Commission on air fresheners, scented candles, and household cleansers are expected to limit the North American market growth during the forecast period.
The impending requirement of introducing natural elements to treat diseases and for high nutrition diets, mandated by the FDA is an aspect that would reflect a positive market growth. The market growth would be largely influenced by the advent of novel usage of essential oils in various applications such as flavor & fragrance, aromatherapies, and others. Healing benefits are expected to be instrumental in governing peak sales and market penetration of market-approved essential oils.
With a wide scale adoption of essential oils in industrial, commercial, and household applications, the global essential oils market is expected to grow at an exponential rate. The commercial developments in relaxation and pharmaceutical industries occurring, particularly in the developing economies are expected to boost the adoption of essential oils. The pharmaceutical and personal care & cosmetic sectors are anticipated to emerge as a lucrative market opportunities owing to the presence of promising essential oils such as patchouli, lavender, lime, and lemon.
$24.7 Bn is the total market value of essential oils market report in 2030.
From the year 2021 to 2030 would be forecast period in the market report.
$12.4 billion is the market value of essential oils market in 2021.
2020 is base year calculated in the essential oils market report
doTERRA International, Biolandes, Sydney Essential Oils Co. Pty Ltd., Young Living Essential Oils, Farotti SRL are the top companies hold the market share in essential oils market.
Food & Beverages is the most influencing segment growing in the essential oils market report
The key trends that boosts the market growth is the increase in consumer preference for natural and organic products be it cosmetics, food, or similar other product categories.
21.5% & 16.2% are the growth rate of the emerging countries of the market.
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