Essential Oils Market: Growth Opportunities and Recent Developments

Northbrook, USA, 2020-Mar-20 — /EPR Network/ — The report “Essential Oils Market by Product Type (Orange, Lemon, Lime, Peppermint, Citronella, Jasmine), Method of Extraction, Application (Food & Beverage, Cosmetics & Toiletries, Aromatherapy, Home Care, Health Care), and Region – Global Forecast to 2022″, The market for essential oils is projected to reach USD 11.19 Billion by 2022 growing at a CAGR of 8.83% from 2017 to 2022. The market is driven by economic factors such as rising double income households and increasing disposable incomes among consumers. Moreover, growing research & development activities and increased demand from food & beverage and cosmetic applications are also driving the market.

Based on type, the market is segmented into orange oil, lemon oil, lime oil, peppermint oil, corn mint oil, citronella oil, spearmint oil, geranium oil, clove leaf oil, eucalyptus oil, jasmine oil, tea tree oil, rosemary oil, lavender oil, and others. The orange oil segment accounted for the highest market share in 2017. Brazil, the U.S., China, India, and Mexico are among the major producers of oranges in the global market, with most oranges for the production of orange essential oils being sourced from these countries. The demand for essential oils is booming which is encouraging the manufacturers to increase the production to cater to the growing demand and also explore the market further.

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The global essential oils market, by application, is segmented into food & beverage, cosmetics & toiletries, aromatherapy, home care, health care, and others. The food & beverage segment is the largest in terms of market share. Essential oils are identified for their health benefits, as they are natural ingredients that impart the essence of the source that they have been derived from. Various essential oils used by the manufacturers include orange oil, lemon oil, and lime oil. Orange oil is mainly used in food & beverages to impart citrus flavor and freshness to the final product. As consumers are becoming increasingly aware of the health benefits of essential oils, the preferences for food & beverage products with these oils as additives has increased.

The Asia-Pacific region is segmented into China, Japan, India, Australia & New Zealand, and Rest of Asia-Pacific. The increase in preference of consumers for natural essential oil ingredients such as peppermint & spearmint and rise in purchasing power parity in the region is driving the demand for essential oils in applications such as aromatherapy, health care, and food & beverages.

This report includes a study of marketing and development strategies, along with the product portfolio of leading companies in essential oils market. It includes the profiles of leading companies such as Cargill (U.S.), E.I. du Pont de Nemours and Company (U.S.), Koninklijke DSM N.V. (Netherlands), and Givaudan SA (Switzerland).

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