Essential Oils Market: Current Analysis and Forecast (2021-2027)

Essential Oils Market: Current Analysis and Forecast (2021-2027)

The essential oils market is expected to grow at a CAGR of ~9% during the forecast period. Key factors influencing the growth of the essential oils market are the increase in demand for aromatherapy, the growing uses of essential oils in food & beverage, and cosmetic products. Aromatherapy refers to a range of traditional, alternative, or complementary therapies that use essential oils. Moreover, essential oils help in reducing nausea, pain and body aches, anxiety, agitation, stress, depression, fatigue, and insomnia. Stress, depression, and fatigue are some common problems rising with the increasing urbanization. Furthermore, the food industry primarily uses essential oils as flavorings, they represent a source of natural antimicrobials for food preservation.

Insights Presented in the Report
"Amongst type, orange essential oil category held prominent market share in 2020”

Based on type, the market is classified into orange, eucalyptus, lavender, peppermint, citronella, lemon, tea tree, clove, spearmint, and others. In 2020, orange essential oil accounted for a significant share of the global essential oils market. Revenue growth of this segment is being driven by antimicrobial activity and pain relief benefits of orange essential oil. It has d-limonene as its main antimicrobial agent which makes orange essential oil a potential antimicrobial agent. Moreover, the orange essential oil has natural antioxidants which can help in reducing inflammation.
"Amongst methods of extraction, the distillation category accounted for a substantial share in the market”

On the basis of the method of extraction, the essential oils market has been divided into distillation, carbon dioxide extraction, cold press extraction, solvent extraction, and others. Among these, the distillation method of extraction held a significant share in the global essential oils market in 2020 and is expected to grow at a robust rate during the forecast period. The efficiency of the distillation extraction method is the main factor driving the growth of this segment. Moreover, distillation is a process involving the conversion of a liquid into a vapor that is subsequently condensed back to liquid form. Distillation effectively removes inorganic compounds such as metals, nitrate, and microorganisms
"Europe held a prominent share in the global essential oil market”

Europe held a significant share in the global essential oil market and is expected to grow at a robust growth rate during the forecast period. Increasing demand for aromatherapy and growth in research & development activities are driving the growth of this market in Europe. Another reason for the growth of the essential oils market is that European consumers are looking for more natural ways to improve and maintain their health. As a result, the demand for essential oils is increasing in Europe. It is expected that this trend will continue, as essential oils offer many beneficial properties.

Some of the major players operating in the market include Cargill Inc., Firmenich SA, Rocky Mountain Oils LLC, Young Living Essential Oils LC., Sydney Essential Oil Company, Essential Oils of New Zealand Ltd., Robertet SA, The Lebermuth Company Inc., Givaudan SA, West India Spices Inc. among others.

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• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
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• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive country-level analysis of the industry