• Home
  • » Chemicals
  • » Essential Oil Market Size & Share, 2028 | Industry Report

Essential Oils Market Size, Share & Trends Analysis Report By Product, By Application, By Sales Channel, By Region And Segment Forecasts From 2021 To 2028

Report ID: MN17618579  |  Published: November 2022  |  No of Pages: 150
Format: Electronic (PDF)  |  Industry: Chemicals

The global essential oils market is anticipated to advance at a CAGR of 7.4% during the forecast period of 2021 to 2028. The demand for essential oils has witnessed substantial growth in recent years, as they are advertised to address various physical as well as mental health conditions. Essential oils are plant extracts that are prepared via pressing or steaming of different plant parts such as leaves, flowers, or bark, in order to capture the fragrance-producing compounds. Several pounds of a plant part may be ideally required in order to create a single essential oil bottle, with a variety of plants such as cassia, basil, cardamom, cumin seed, eucalyptus, lemongrass, lime, neem, mustard, peppermint, turmeric, and tea tree, among several others, being used in the industry.

The continued growth in the occurrence of various lifestyle and chronic disorders among the global population has created more awareness regarding the benefits of healthy lifestyle practices. The rising middle-class population has meant significant demand for essential oils, which may have been deemed expensive earlier. The growing popularity of aromatherapy has meant that sales of these products have remained on the rise. Aromatherapy is said to offer pain relief, improvement in sleep quality, relief from migraines & headaches, and alleviation from chemotherapy-related side effects.

The industry has also witnessed a significant shift towards the usage of natural, organic ingredients, as consumers have begun to ask for more transparency regarding the sourcing of the products they use. The food & beverage and cosmetics sectors have experienced the implementation of regulations that favor the use of eco-friendly products, which have provided opportunities for essential oil manufacturers to launch innovative and sustainable offerings. Along with this, there has been a growing demand for products that contain minimal to no traces of synthetic and animal-sourced components, compelling organizations to invest in extensive research and development of products.

The sheer variety of essential oils available for consumers that address different issues and disorders has been a major enabler for industry growth. The coronavirus outbreak saw the implementation of lockdowns, and coupled with economic downturns, created several mental health issues among the population. As such, the demand for essential oils for relaxation and stress relief shot up during this period, on top of the significant product demand for physical health and skin health. Some of the notable raw material suppliers in the industry include Essential Oils Company, The Fragrance Foundation, Kao Chemicals, and Phoenix Aromas and Essential Oils LLC, among others. Additionally, companies such as Young Living Essential Oils and Biolandes have significantly reduced their raw material procurement and operational costs through an integrated operational model.

Essential Oil Market Report Key Takeaways

  • Essential oils have been widely advertised and perceived among consumers to offer specific health benefits, which has created a massive demand for these products, especially among millennials and working professionals. Consumers have become more aware and selective regarding what they apply or consume, with natural ingredients being preferred over chemicals
  • Essential oils are stated to offer antimicrobial, anti-infective, and antioxidant properties, and are used by consumers in various health conditions such as immunity disorders, depression & stress, and sleep disorders. With a continued rise in the incidence of these disorders, the demand for essential oils has thrived in recent years
  • In terms of product, essential oils can be prepared from various types of plants, which include cinnamon, neem, mustard, orange, and spearmint, among others. Orange-derived essential oil accounted for the largest revenue share of 9.5% in 2020 in the global market, as it is rich in vitamin C and offers antioxidant properties
  • Essential oils find usage in a variety of areas besides spa, personal care, and relaxation; these include their use as an ingredient in food and beverage products, in the medical and pharmaceutical sector, and in the household cleaning space, where they are an ingredient in products such as kitchen cleaners, bathroom cleaners, and fabric care
  • The spa and relaxation application segment accounted for the highest market share based on both volume and revenue in 2020, aided by the hectic lifestyle and schedules of consumers, the steadily growing aging population, and the increasing presence of spa facilities in urban areas. Aromatherapy has rapidly become a preferred choice for relaxation, which has driven segment growth 
  • Europe accounted for a significant share of the global essential oils market in 2020 and is further expected to lead the market during the projection period. The regional industry growth has greatly benefitted from the presence of organizations such as the European Federation of Essential Oils (EFEO), which protects and promotes stakeholders’ interests across the value chain, while also indulging in necessary legislation amendments
  • The market is characterized by the presence of international as well as regional players, with their focus being on the development of innovative technologies to maximize production and minimize the consumption of resources. Notable names include Givaudan, Symrise, Firmenich, Takasago International Corporation, International Flavors & Fragrances Inc., and Flavex Naturextrakte GmbH, among others
  • Manufacturers are launching new products at a rapid pace to address consumer demands for healthier products for a better lifestyle. For instance, in October 2022, doTERRA launched the MetaPWR Metabolic System product range for promoting healthy metabolism in individuals. The products are available in different forms such as beadlets, softgels, and gums

 

Essential Oil Market Segments 

  • Essential Oil Product Outlook (Volume, Tons; Revenue, USD Thousand, 2017 - 2028)
    • Acorus Calamus
    • Ajowan
    • Basil
    • Black pepper
    • Cardamom
    • Carrot Seed
    • Cassia
    • Cedarwood
    • Celery
    • Cinnamon
    • Citronella
    • Clove
    • Cornmint
    • Cumin Seed
    • Curry Leaf
    • Cypriol
    • Davana
    • Dill Seed
    • Eucalyptus
    • Fennel
    • Frankincense
    • Garlic
    • Ginger
    • Holy Basil
    • Juniper Berry
    • Lemon
    • Lemongrass
    • Lime
    • Mace
    • Mustard
    • Neem
    • Nutmeg
    • Orange
    • Palmarosa
    • Pepper Mint
    • DMO
    • Rosemary
    • Spearmint
    • Turmeric
    • Vetiver
    • Cis-3 Hexanol
    • Tea Tree
    • Others
  • Essential Oil Application Outlook (Volume, Tons; Revenue, USD Thousand, 2017 - 2028)
    • Medical
      • Pharmaceutical
      • Nutraceuticals
    • Food & Beverages
      • Bakery
      • Confectionery
      • Dairy
      • RTE meals
      • Beverages
      • Meat, Poultry & Seafood
      • Snacks & Nutritional Bars
    • Spa & Relaxation
      • Aromatherapy
      • Massage Oil
      • Personal Care
        • Cosmetics
          • Hair Care
          • Skin Care
          • Sun Care
          • Makeup and color cosmetics
        • Toiletries
          • Soaps
          • Shampoos
          • Men's Grooming
          • Oral Care
          • Baby Care
        • Fragrances
          • Perfumes
          • Body Sprays
          • Air fresheners
    • Cleaning & Home
      • Kitchen Cleaners
      • Floor Cleaners
      • Bathroom Cleaner
      • Fabric Care
  • Essential Oil Sales Channel Outlook (Volume, Tons; Revenue, USD Thousand, 2017 - 2028)
    • Direct Selling
    • Others
  • Essential Oil Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • U.K.
      • France
    • Asia Pacific
      • China
      • India
      • Japan
      • Taiwan
      • South Korea
      • Singapore
      • Australia
    • Central America
    • South America
    • Middle East & Africa 
  • List of Key Players in the Essential Oil Market
    • Takasago International Corporation
    • Symrise
    • MANE
    • Flavex Naturextrakte GmbH
    • Firmenich SA
    • Synthite Industries Ltd.
    • ROBERTET GROUP
    • International Flavors & Fragrances Inc.
    • Givaudan
    • Falcon
    • Norex Flavours Private Limited
    • BMV Fragrances Pvt. Ltd.
    • VedaOils
    • MOKSHA LIFESTYLE PRODUCTS
    • Ultra International
    • VidyaHerbs
What questions do you have? Get quick response from our industry experts. Request More information
Key questions answered in the report include
key questions
We also offers customization on reports based on specific client requirement.
Request for Customization

Choose License Type

Research Assistance

Ryan Manuel
Ryan Manuel

Research Support Specialist, USA

  1. Phone: +1-408-610-2300
  2. Toll Free: +1-866-831-4085
  3. Email: [email protected]
Connect With Expert
  • World's largest premium report database
  • Transparent pre & post sale customer engagement model
  • Unparalleled flexibility in terms of rendering services
  • Safe & secure web experience
  • 24*5 Research support service

Get a Free Sample

FREE sample contains market data points, ranging from trend analyses to market estimates & forecasts. See for yourself...