Essential oils Market By Application (Food And Beverages, Medical, Cleaning And Home, Spa And Relaxation, Others), By Distribution Channel (Direct Distribution, Mlm Distribution, Retail Distribution), By Type (Orange, Eucalyptus, Cornmint, Peppermint, Citronella, Lemon, Lime, Clove, Spearmint, Others), : Global Opportunity Analysis and Industry Forecast, 2020-2030
The global essential oils market was valued at $10,886.80 million in 2020, and is projected to reach $24,721.60 million by 2030, growing at a CAGR of 8% from 2021 to 2030. Essential oils, also known as volatile oils, aetherolea, or ethereal oils, are derived from leaves, stems, flowers, bark, roots, or other parts of a plant. They are obtained from various herbs and plants, such as orange, eucalyptus, cornmint, peppermint, citronella, lemon, lime, clove, and spearmint, using distillation methods such as steam and water distillation. These oils contain volatile aroma compounds and real essence of the plant from which they are derived. Essential oils are primarily used in cosmetics & toiletries, food items, and beverages.
The major factor 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. This in turn, has led the manufacturers operating in such industries to develop products that contain natural additives. Thus, rise in usage of essential oils among various end-user industries coupled with factors such as rapid industrialization, increase in disposable income, and improved standards of living in emerging economies, supplement the market growth.
The factors that restrict the market growth are high price of essential oils, availability of synthetic substitutes, and limited availability of raw materials. Government support and favorable regulations are expected to offer lucrative opportunities for market growth. Moreover, steady rise in demand for natural aromatic fragrances and flavors in spa and relaxation applications along with cosmetics and perfumes is anticipated to promote the demand for essential oils during the forecast period.
The market players, such as doTERRA International and Moksha Lifestyle Products, are developing a wide variety of essential oils, such as ginger oil, basil seeds oil, and others, to cater to the increase in demand for essential oils in different industries.
The essential oils market is segmented on the basis of product type, application, and region. The product type segment is further classified into orange, eucalyptus, cornmint, peppermint, citronella, lime, lemon, clove, spearmint, and others. The orange oil segment accounted for the maximum revenue share in 2020 and is anticipated to consolidate its position during the forecast period, owing to its anti-inflammatory, antidepressant, and antispasmodic product characteristics.
In addition, the food & beverage industry majorly uses orange oil due to its fresh smell and juicy flavor. By application, the essential oils market is classified into food & beverages, medical, cleaning & home, spa & relaxation, and others. Personal care & cosmetics is estimated be the fastest growing application segment, closely followed by the applications of essential oils in pharmaceuticals.
Other applications, such as home cleaning products and textile products where essential oil serves as sweet-smelling mixes, and healthy substitutes for synthetic products are anticipated to witness sustainable development in future. By region, the market is categorized into North America, Europe, Asia-Pacific, and LAMEA. The prominent players analyzed in this 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, Essential Oils Market Trends, estimations, and dynamics of the essential oils market analysis from 2020 to 2030 to identify the prevailing Essential Oils Market Opportunity
The market research is offered along with information related to key drivers, Essential Oils Market demand 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, key players, market segments, application areas, and Growth strategies.
Key Market Segments
By Application
Food And Beverages
Medical
Cleaning And Home
Spa And Relaxation
Others
By Distribution Channel
Retail Distribution
Direct Distribution
Mlm Distribution
By Type
Orange
Eucalyptus
Cornmint
Peppermint
Citronella
Lemon
Lime
Clove
Spearmint
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Indonesia
Malaysia
South Korea
Singapore
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Turkey
UAE
Rest of LAMEA
Key Market Players
MOKSHA LIFESTYLE PRODUCTS
THE LEBERMUTH COMPANY
WEST INDIA SPICES INC.
YOUNG LIVING ESSENTIAL OILS
BIOLANDES
SYDNEY ESSENTIAL OIL CO.
DTERRA INTERNATIONAL LLC
FAROTTI ESSENZ SRL
ESSENTIAL OILS OF NEW ZEALAND LTD.
H. REYNAUD and FILS
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