Essential Oils Market Analysis & Growth Trends by 2026

Posted on 2021-09-23 by MarketsandMarkets in Food & Beverage, Healthcare, Pharmaceuticals // 0 Comments

The Essential Oils Market size is estimated to be valued USD 10.3 billion in 2021 and is expected to reach a value of USD 16.0 billion by 2026, growing at a CAGR of 9.3% in terms of value during the forecast period. In terms of volume, the essential oils market is estimated to account for 253.2 KT in 2021 and is expected to reach at 345.4 KT by 2026, growing at a CAGR of 6.4% during the forecast period. Factors such as an growth in awareness toward preventive healthcare, rise in demand for essential oils in food products with extended shelf life , along with increase in demand for essential oils in cosmetic applications are some of the factors driving to the growth of the essential oils market.

Download PDF Brochure

The aromatherapy segment of the this market is projected to have highest CAGR during the forecast period, by applications

By applications, the aromatherapy segment is projected to have highest CAGR during the forecast period in the global essential oils market. Essential oils are volatile liquid substances extracted from aromatic plant material by different types of extraction methods. Changing lifestyles and their consequences, such as high stress and depression, along with increasing disposable incomes, resulting in an increase in demand for aromatherapy. The oils are extracted from natural plant sources such as flowers, herbs, and trees. Different types of essential oils used in aromatherapy include tea tree oil, jasmine oil, rosemary oil, and lavender oil. These oils are used in massage therapies, acupuncture, and topical care.

The market for distillation segment is projected to account for the largest share during the forecast period

By method of extraction, the distillation segment accounted for the highest share in the essential oils market. Distillation is the process of separating components of a mixture by evaporating and then condensing the vapor into liquid. The distillation method is used for temperature-sensitive materials such as aromatic compounds. It is a technique that is slightly volatile, where the water-insoluble substances are separated from nonvolatile materials by means of distillation. Different types of distillation methods are used, such as water distillation, water & steam distillation, and steam distillation for extraction of oils. It is used mainly for different types of essential oils such as eucalyptus, lavender, and jasmine. Distillation is one of the main methods used for extraction in the fragrance and essential oils industries.

Clove leaf by type drives the market during the forecast period

By type, the clove leaf segment is projected to have the highest CAGR during the forecast period. Clove is the dried, unopened flower bud obtained from a middle-sized, evergreen tree. It is found in the Molucca islands in Indonesia. It consists of various nutrients such as protein, volatile oil, non-volatile ether extract (fat), and crude fiber besides mineral matter and vitamins C & A. Globally, India is the largest country to import clove, followed by Singapore and the US. The distillation method of extraction is used to yield a substantial amount of clove leaf oil.

Asia Pacific is the fastest-growing market during the forecast period in the global market

The growth in population, rise in disposable incomes, rapid urbanization in the Asia Pacific region, and an increase in demand for high-quality food & beverage products are the key factors that have encouraged the demand for essential oils. Substantial growth is witnessed in countries, such as China, India, and Japan, due to the increase in the purchasing power of the population and demand for protein-rich meat diets. Moreover, consumers prefer opting for products that have high nutritional content and offer health benefits and exotic taste.

Make an Inquiry

Key players in this market include Cargill, Inc. (US), DuPont (US), Koninklijke DSM N.V. (Netherlands), dôTERRA International LLC (US), Givaudan SA (Switzerland), Firmenich SA (Switzerland), Young Living Essential Oils (US), Sensient Technologies Corporation (US), The Lebermuth Company, Inc. (US), International Flavors & Fragrances Inc. (US), Symrise (Germany), MANE (France), ROBERTET SA (France), Rocky Mountain Oils LLC (US), BIOLANDES SAS (France), Essential Oils of New Zealand (New Zealand), Falcon (India), Farotti (Italy), India Essential Oils (India), and Ungerer Limited (UK).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Matched content

Editor’s pick