Essential oils are renowned for their therapeutic properties, encompassing a diverse range that contributes to well-being. The antimicrobial attributes of certain essential oils make them effective in combating bacteria and other microorganisms, supporting a healthier environment. Anti-inflammatory properties found in specific essential oils can aid in reducing inflammation, providing relief from various ailments. The relaxation-inducing effects of certain oils are valued for their ability to alleviate stress and promote emotional balance.
According to Data Bridge Market Research analyses the Global Essential Oil Market is expected to reach the value of USD 21,350.53 million by 2030, at a CAGR of 9.6% during the forecast period 2023-2030.
"Rise in recognition of essential oils boosts the market growth"
The rise in recognition of essential oils has emerged as a significant driver for the global essential oil market. Increased consumer awareness about natural remedies and holistic well-being has fueled the demand for essential oils, known for their therapeutic properties. Growing interest in aromatherapy, coupled with the rising preference for chemical-free and sustainable products, has contributed to the market's expansion. This trend reflects a broader shift towards wellness and natural lifestyles, influencing consumers to seek out these plant-derived extracts for their various health benefits.
What restraints the growth of global essential oil market?
“Limited availability of raw materials hampers the market growth”
The global essential oils market faces challenges due to the limited availability of raw materials. Factors such as climate change, geographical constraints, and seasonal variations can impact the cultivation of plants and herbs essential for oil extraction. Certain essential oils may be derived from specific plant species that have limited geographical distribution, making the sourcing process more challenging. This limited availability can lead to fluctuations in raw material prices, affecting production costs for essential oil manufacturers.
Segmentation: Global Essential Oil Market
The global essential oils market is segmented on the basis of product, type, category, method of extraction, application, end user, and distribution channel.
- On the basis of product, the global essential oils market is segmented into citrus oils, floral oils, herbaceous oils, camphoraceous oils, minty oils, spicy oils, resinous/musky oils, and woody/earthy oils
- On the basis of type, the global essential oils market is segmented into singles/virgin and blends
- On the basis of category, the global essential oils market is segmented into conventional and organic
- On the basis of method extraction, the global essential oils market is segmented into hydro-or-steam- distillation, hydrodiffusion, cold press extraction, water distillation, supercritical fluid extraction, solvent extraction, microwave assisted process (MAP), carbondioxide, extraction, and others
- On the basis of application, the global essential oils market is segmented into food and beverages, aromatherapy, cosmetics and personal care, home care, toiletries and cleaners, alternative energy and medical, textiles, automobile air fresher, agriculture, and others
- On the basis of end user, the global essential oils market is segmented into cosmetic companies, pharma companies, medical spa, dermatology clinics, and others
- On the basis of distribution channel, the global essential oils market is segmented into direct and indirect
Regional Insights: North America dominates the Global Essential Oil Market
- In North America, the U.S. dominates the essential oils industry, attributed to its extensive usage in the supplement and pharmaceutical sectors. The U.S. holds a leading position as a major consumer and producer of essential oils, driven by the increasing demand for natural and therapeutic ingredients in supplements and pharmaceutical products.
- In Europe, France dominates the market and is expected to experience substantial growth in the forecast period. This can be attributed to its significant production capacity, the widespread availability of products, and a burgeoning customer base. The country's robust essential oil industry is expected to contribute significantly to the market expansion, making France a key player in shaping the industry landscape across the continent.
- In the Asia-Pacific, China is expected to dominate the market for essential oils, driven by a surge in disposable income and growing investments in harnessing natural resources. The increased economic prosperity has resulted in greater consumer spending, contributing to a rising demand for natural products such as essential oils.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-essential-oils-market
Recent Developments in Global Essential Oil Market
- In August 2020, Young Living Essential Oils introduced novel additions to the happy, healthy home category, unveiling products such as Cassia oil, Ecuadorian oregano oil, and the distinctive One Heart essential oil
- In October 2020, Neptune Wellness Solutions debuted the Forest Remedies brand, a collaborative effort with IFF. This launch showcased a curated collection featuring six essential oils: lemon, sweet orange, bergamot, peppermint, eucalyptus, and tea tree oil
The Prominent Key Players Operating in the Global Essential Oil Market Include:
- Kelvin Natural Mint Pvt. Ltd. (India)
- Young Living Essential Oils (U.S.)
- Lebermuth, Inc. (U.S.)
- Moksha Lifestyle Products (India)
- Robertet (France)
- SOiL Organic Aromatherapy and Skincare (South Africa)
- dōTERRA (U.S.)
- Edens Garden (U.S.)
- ANIMA MUNDI APOTHECARY (U.S.)
- Sakkara (Egypt)
- Nefertiti (Egypt)
- Essential Oils of New Zealand Ltd. (New Zealand)
- FAROTTI SRL (Italy)
- LISHA Trade (Bulgaria)
- Nefertari, Inc. (U.S.)
- Cario Aromatic (Egypt)
- KM Chemicals (India)
- NOW Foods (U.S.)
- AROMA TIERRA (India)
- Still Pure Naturals (Pty) Ltd. (South Africa)
Above are the key players covered in the report, to know about more and exhaustive list of global essential oil market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Essential Oil Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
