What Has Been Essential Oils Market in Recent Years?
The essential oils market has seen considerable growth due to a variety of factors.
• In recent times, there has been a significant expansion in the size of the essential oils market. The projections show an increase from $17.46 billion in 2024 to $19.79 billion in 2025, which means a compound annual growth rate (CAGR) of 13.3%.
The escalation during the historical period can be credited to multiple factors like the trend of aromatherapy, advancements in traditional and complementary medicine, rising popularity of natural and organic products. Not to mention, the expansion of the cosmetic and personal care industry, the use of essential oils for flavoring in food and beverages, and the growing awareness regarding health benefits contributed to the market growth.
What Does Future Hold for The Essential Oils Market Size?
The essential oils market is expected to maintain its strong growth trajectory in upcoming years.
• The market for essential oils is anticipated to experience swift expansion in the coming years, with a projected value of $37.25 billion in 2029 and a compound annual growth rate (CAGR) of 17.1%.
The surge during the forecast timeline can be linked to wellness and self-care trends, the use of natural scent in household items, the burgeoning beauty and personal care markets, sustainable and ethical operations, and the worldwide discovery of unique flora. Noteworthy trends over the forecast period include growth in emerging markets, creative blending and formulations, an emphasis on sustainability and ethical sourcing, the growing popularity of aromatherapy, and the escalating demand for organic and natural products.
Which Factors Are Boosting Growth In The Essential Oils Market?
The escalation of the spa industry worldwide is predicted to drive the expansion of the essential oils market. Aromatherapy, which uses essential oils, is a type of alternative medicine that promotes health and wellness. There is a rising trend in consumer preference for natural and organic oil products globally. For example, The Global Wellness Institute, a nonprofit organization based in the U.S., reported that in 2022, more than 181,000 enterprises belonged to the spa industry, earning revenues of $105 billion. Furthermore, it is projected that spa revenues will exceed their levels before the pandemic by 2023, reaching an estimated $156 billion by 2027. Hence, the worldwide growth of the spa industry is stimulating the expansion of the essential oils market.
What Is The Segmentation Of The Global Essential Oils Market?
The essential oils market covered in this report is segmented –
1) By Type: Orange Oil, Lemon Oil, Lime Oil, Peppermint Oil, Cornmint Oil, Citronella Oil, Spearmint Oil, Geranium Oil, Clove Leaf Oil, Eucalyptus Oil
2) By Method Of Extraction: Distillation, Carbon Dioxide Extraction, Cold Press Extraction, Solvent Extraction, Other Method Of Extraction
3) By Application: Food And Beverage, Aromatherapy, Cosmetics And Toiletries, Pharmaceuticals, Cleaning And Home Care, Animal Feed, Fragrances
Subsegments:
1) By Orange Oil: Sweet Orange Oil, Bitter Orange Oil
2) By Lemon Oil: Cold-Pressed Lemon Oil, Distilled Lemon Oil
3) By Lime Oil: Persian Lime Oil, Key Lime Oil
4) By Peppermint Oil: Mentha Piperita Oil
5) By Cornmint Oil: Mentha Arvensis Oil
6) By Citronella Oil: Java Citronella Oil, Ceylon Citronella Oil
7) By Spearmint Oil: Mentha Spicata Oil
8) By Geranium Oil: Pelargonium Graveolens Oil
9) By Clove Leaf Oil: Eugenia Caryophyllata Oil
10) By Eucalyptus Oil: Eucalyptus Globulus Oil, Eucalyptus Radiata Oil
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What Emerging Trends Are Shaping The Essential Oils Market Landscape?
Prominent industry players in the essential oils market are channeling their resources towards creating inventive solutions like essential oil diffusers. These diffusers are devices engineered to spread essential oils through the air, producing a gratifying and fragrant environment. For example, in December 2022, Young Living Essential Oils, LC, a company based in Utah specializing in essential oils, unveiled the 'Duet Diffuser' and 'Sprout the Puppy Diffuser'. These diffusers employ cutting-edge technologies, providing two optimal diffusion alternatives suitable for users across different age groups. The Duet Diffuser uses atomizing technology, allowing for the dispersion of essential oils without requiring water, leading to enhanced oil diffusion and less mess. Sprout the Puppy presents a charming new buddy to accompany young oil aficionados on their aromatic adventures. With five soothing sound options, 10 LED light displays, and a design that's both BPA-free and heat-free, this limited edition diffuser is a safe and fitting addition to any kid's room.
Who Are the Key Players in the Essential Oils Market?
Major companies operating in the essential oils market include:
• Cargill Incorporated
• Koninklijke DSM N.V.
• DuPont de Nemours Inc.
• International Flavors & Fragrances Inc.
• Essential Oils New Zealand Limited
• Givaudan SA
• Symrise AG
• Mane SA
• doTERRA International LLC
• Sensient Technologies Corporation
• Robertet SA
• Firmenich International SA
• Ungerer Limited
• Aromatics International LLC
• Young Living Essential Oils LC
• Mountain Rose Herbs
• Falcon Essential Oils
• The Lebermuth Company Inc.
• BIOLANDES SAS
• Rocky Mountain Oils LLC
• Edens Garden
• Plant Therapy LLC
• Florihana
• Aromaaz International
• Stillpoint Aromatics LLC
• Wyndmere Naturals Inc.
• Aromatherapy Associates Limited
• Farroti Essential Oils Pvt. Ltd.
• Indian Essential Oils
• Oshadhi Ltd.
• Floracopeia Inc.
What are the Regional Insights into the Essential Oils Market?
North America was the largest region in the essential oils market in 2024. Asia-Pacific is expected to be the fastest-growing region in the essential oils market during the forecast period. The regions covered in the essential oils market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
