Rising demand for essential oils in the aromatherapy industry and increasing need for natural ingredients are key factors driving essential oils market revenue growth.
Vancouver, Nov. 14, 2023 (GLOBE NEWSWIRE) — The global essential oils market size was USD 8.80 Billion in 2022 and is expected to register a rapid revenue CAGR of 11.9% during the forecast period. The surge in demand for essential oils is attributed to their widespread adoption in the aromatherapy industry and the increasing preference for natural ingredients.
Essential oils, derived from natural plant extracts, are gaining popularity due to their safety and absence of side effects. In contrast to synthetic alternatives, these oils do not impede bodily functions or leave harmful residues. The shift towards natural and organic products, especially among health-conscious consumers, is a significant driver of market growth. The spa and relaxation sector’s growing popularity, incorporating aromatherapy treatments, is another key factor propelling market revenue.
Aromatherapy, a practice dating back thousands of years, utilizes the therapeutic properties of essential oils to enhance physical, mental, emotional, and spiritual well-being. The global trend toward natural ingredients continue to fuel the essential oils market, with applications spanning food and beverage, medicines, personal care, cosmetics, and spa and wellness.
However, the market faces challenges related to side effects due to dosage unawareness. Essential oils, being potent and flammable, can lead to allergic reactions, skin issues, and respiratory problems when misused. Lack of awareness regarding proper dosage, dilution, and application techniques contributes to these challenges. It is crucial for consumers to seek medical advice before using essential oils, particularly if they have health conditions, are pregnant, or nursing.
Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.emergenresearch.com/request-sample/2475
Key Trends and Insights:
One notable trend is the increasing use of essential oils across various industries, driven by the rising demand for natural and organic products. These oils find applications in personal care, cosmetics, and the food and beverage sector, where their antibacterial, anti-inflammatory, and fragrant characteristics are highly valued.
Type Insights: Citrus Oil Dominates Market Share
The citrus oil segment is anticipated to hold the largest revenue share during the forecast period. This is attributed to the increasing use of citrus oil in various food and beverage products, including sauces, soft drinks, candies, cakes, and juices. Citrus oil is valued for its natural flavoring properties and immune-stimulating, antibacterial, antiseptic, and anti-inflammatory effects. Additionally, lavender oil is expected to register steady growth, driven by demand in cosmetics and increasing awareness of its health benefits.
Application Insights: F&B and Aromatherapy Lead
The Food & Beverage (F&B) segment is projected to hold a substantial revenue share, driven by the rising use of essential oils to enhance flavor and freshness in end products. Aromatherapy is expected to register fast growth, supported by the increasing number of spas and wellness centers and the growing popularity of natural remedies over manufactured medications.
Distribution Channel Insights: Direct Distribution Dominates
Direct distribution, including online shopping and e-commerce platforms, accounted for the largest revenue share in 2022. The convenience, adaptability, and personalization offered by direct distribution channels contribute to their popularity. The retail distribution segment is expected to witness the fastest growth, benefiting from increasing customer awareness and demand for natural and organic products.
Regional Insights: Europe Leads, North America Grows Fastest
Europe dominated the market in 2022, driven by the region’s long history of essential oil use in various applications. The North America market is expected to grow rapidly due to increasing demand for natural and organic products, particularly in the United States and Canada. The Asia Pacific region is also poised for significant growth, fueled by rising disposable income and changing consumer lifestyles.
The global essential oils market continues to evolve, propelled by the growing preference for natural well-being solutions and the diverse applications of these oils across industries.
Emergen Research is Offering Limited Time Discount (Grab a Copy at Discounted Price Now) @ https://www.emergenresearch.com/request-discount/2475
Scope of Research
|Market Size in 2022||USD 8.80 Billion|
|Revenue Forecast To 2032||USD 27.13 Billion|
|Base Year For Estimation||2022|
|Quantitative Units||Revenue in USD Billion and CAGR in % from 2023 to 2032|
|Report Coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments Covered||Type, application, source, distribution channel, method of extraction, and region|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Country Scope||U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa|
|Key Companies Profiled||Biolandes SAS, Givaudan, International Flavours and Fragrances Inc., Symrise, Robertet, DSM, Sensient Technologies Corporation, Cargill, Incorporated, MANE (EN), and doTERRA|
|Customization Scope||10 hours of free customization and expert consultation|
Major Companies and Competitive Landscape
The global essential oils market is highly fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective essential oils solutions. Some major players included in the global essential oils market report are:
- Biolandes SAS
- International Flavours and Fragrances Inc.
- Sensient Technologies Corporation
- Cargill, Incorporated
- MANE (EN)
- NOW Foods
- Lebermuth, Inc.
- Norex Flavours Private Limited
- Sydney Essential Oil Company
- Young Living Essential Oils
- Phoenix Aromas & Essential Oils
- Essential Oils of New Zealand Ltd.
- Enio Bonchev
- Rocky Mountain Oils, LLC
- On 22 May 2023, Young Living announced the release of Season Essentials and Red Cedar Bliss Essential Oil Blends. These innovative blends offer versatile usage options, including oral consumption by mixing 1–2 drops with 1 drop of a carrier oil and placing under the tongue, with a maximum of three daily applications. Red Cedar Bliss combines various essential oils, including the newly introduced Western Red Cedar oil, for a warm and woodsy aroma. This blend not only provides a delightful scent but also offers immune support, making it a valuable addition to the daily routine.
- In June 2023, Biolandes SAS announced the debut of its new line of Ecocert Greenlife-certified organic essential oils. The line includes 12 essential oils that are obtained from organic cultivation and processed with steam distillation or cold expression, including lavender, rosemary, eucalyptus, lemon, and peppermint. According to the company, compared to ordinary essential oils, these organic ones offer greater quality, purity, and sustainability.
Direct Order Can Be Placed Through This Link [Exclusive Copy] @ https://www.emergenresearch.com/select-license/2475
For the purpose of this report, Emergen Research has segmented the global essential oils market on the basis of type, application, source, distribution channel, method of extraction, and region:
- Type Outlook (Revenue, USD Billion; 2019-2032)
- Tea Tree
- Applications Outlook (Revenue, USD Billion; 2019-2032)
- Food & beverages
- Aroma therapy
- Source Outlook (Revenue, USD Billion; 2019-2032)
- Fruits & vegetables
- Herbs & spices
- Distribution channel Outlook (Revenue, USD Billion; 2019-2032)
- Direct distribution
- Multi-Level Marketing (MLM) distribution
- Retail distribution
- Method of Extraction Outlook (Revenue, USD Billion; 2019-2032)
- Carbon Dioxide (CO2) extraction
- Cold press extraction
- Outlook (Revenue, USD Billion; 2019–2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- North America
Browse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/essential-oils-market
Curated Reports You Shouldn’t Miss: Dive In Now!
Food Cold Chain Market by Type (Monitoring Components, Transportation, Others), By Packaging (Materials, Product), By Equipment (Transportation equipment, Storage equipment) and By Application (Fruit pulp & concentrates, Fruits & vegetables, Others), Forecasts to 2027
Synthetic Food Market Size, Share, Trends, By Product, By End Users (Beverages, Bakery & Confectionery, Dairy & Frozen Products, Animal & Pet Food, Savory & Snacks) and By Distribution Channel Forecasts to 2027
Food Safety Testing System Market Size, Share, Trends, By Test (Chemical & Nutritional, Allergen) and By Application (Processed Food, Beverages, Others), Forecasts to 2027
Cannabis Market By Product Type (Flower, Concentrates, Others), By Compound (Tetrahydrocannabinol, Cannabidiol (CBD), Balanced THC & CBD), By Application (Medical, Recreational, Pain Management, Neurological Health Management, Others), and Regions Forecasts to 2027
Food Ingredients Market By Type (Preservatives, Sweeteners, Emulsifiers, Anti-Caking, Enzymes, Hydrocolloids, Food Flavors and Enhancers, Food Colorants, Acidulants), By Application (Bakery, Beverages, Dairy, Meet, Vegan), By Sales Channel (Online, Offline) and Regions Forecasts to 2027
Dietary Supplements Market, By Product Type (Botanicals, Minerals, Vitamins, Probiotics, Others), By Function, By Application (Bone & Joint, Energy & Weight Management, Diabetes, Immunity, Others), By Target Consumer, and By Region Forecast to 2030
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.
Corporate Sales Specialist
Emergen Research | Web: https://www.emergenresearch.com/
Direct Line: +1 (604) 757-9756
Explore Our Blogs and Insights Section: https://www.emergenresearch.com/insights
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. SingaporeOutlook.com takes no editorial responsibility for the same.