Essential oils Market

Essential Oils Market Research, 2030

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.

Although the Covid19 pandemic had a disturbing impact over several industries, the essential oils market experienced a positive growth during this period. Essential oils have antimicrobial, antioxidant, and anti-infective, properties; thus, they are utilized in treating various health conditions including stress conditions, immunity disorders, sleep disorder and depression. Therefore, the importance of essential oils market has shoot up during the pandemic as the number of patients with mental health problems raised, which has propelled the growth of the market.

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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