- In June 2023, Turpaz Industries revealed its acquisition of Food Base, a Hungarian company focused on developing and marketing essential oils, herbal extracts, and flavors for the food and beverage sector, for a total value of USD 9.5 million (approximately 3.3 billion Hungarian Forint)
- In September 2022, MANE KANCOR inaugurated its Innovation Center in Angamaly, dedicated to developing innovative solutions in natural shelf-life, natural colors, culinary flavors, personal care ingredients, and nutraceutical products.
- In July 2022, doTERRA announced its rapid expansion into India, which is strategically beneficial for its global growth, given that the company's essential oils are sourced from regions including India, Asia, the Pacific, the Middle East, and Africa.
- In July 2022, Sensient expanded its flavor portfolio through the acquisition of Flavor Solutions, Inc. (U.S.), enhancing its traditional flavor offerings with savory reaction flavors, technologies for natural shelf-life extension, and advanced taste-modulation platforms for sweetness enhancement and salt reduction.
- In February 2022, Givaudan completed the acquisition of Myrissi in France, a move that aligns with its long-term Fragrance & Beauty strategy and leverages Myrissi's expertise in artificial intelligence to introduce new sensory experiences for consumers.
Frequently Asked Questions
The market is segmented based on Segmentation, By Product (Citrus Oils, Floral Oils, Herbaceous Oils, Camphoraceous Oils, Minty Oils, Spicy Oils, Resinous/Musky Oils, and Woody/Earthy Oils), Types (Singles/Virgin and Blends), Category (Conventional and Organic), Method of Extraction (Hydro-Or-Steam- Distillation, Hydrodiffusion, Cold Press Extraction, Water Distillation, Supercritical Fluid Extraction, Solvent Extraction, Microwave Assisted Process (MAP), Carbondioxide, Extraction, and Others), Application (Food & Beverages, Aromatherapy, Cosmetics & Personal Care, Home Care, Toiletries and Cleaners, Alternative Energy and Medical, Textiles, Automobile Air Fresher, Agriculture, and Others), End Use (Cosmetic Companies, Pharma Companies, Medical Spa, Dermatology Clinics, and Others), Distribution Channel (Direct and Indirect) – Industry Trends and Forecast to 2031
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The Global Essential Oils Market size was valued at USD 11.23 USD Billion in 2023.
The Global Essential Oils Market is projected to grow at a CAGR of 9.6% during the forecast period of 2024 to 2031.
The major players operating in the market include Kelvin Natural Mint Pvt. , Young Living Essential Oils, Lebermuth , Moksha Lifestyle Products, Robertet, SOiL Organic Aromatherapy and Skare, dōTERRA, Edens Garden, ANIMA MUNDI APOTHECARY, Sakkara, Nefertiti, Essential Oils of New Zealand , FAROTTI SRL, LISHA Trade, Nefertari , Cario Aromatic, KM Chemicals, NOW Foods, AROMA TIERRA, and still pure naturals .
The market report covers data from the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
