Geographically, the Asia-Pacific region is expected to see the fastest growth over the forecast period as the availability and affordability of essential oils has increased.
A number of factors such as the booming demand for aromatherapy, increasing consumer preference for natural products, and increasing consumption of essential oils in the cosmetics and food and beverage industries are expected to drive the growth of the essential oils market over the forecast period (2021-2030. ) will drive). According to P&S Intelligence, the market had sales of ~ $ 11 billion in 2020. In recent years, the increased use of essential oils in spas has become a prominent market trend due to the increased public awareness of skin care treatments.
The growing demand for aromatherapy is one of the main growth drivers for the market. Aromatherapy refers to an alternative treatment method that uses naturally derived essences to support, harmonize and balance the mental and physical health of the patient. Essential oils are used in this treatment because they activate the olfactory receptors in the nose, which use the nervous system to transmit information to the brain. The oil is also used to treat anxiety or chronic stress, fatigue, skin problems, depression, and respiratory infections.
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Currently, the essential oils market is fragmented with few companies like Frontier Co-op, dōTERRA International LLC, PublicGoods, Plant Therapy Inc., Organic Aromas, Rocky Mountain Oils LLC, REVIVE Essential Oils LLC, Young Living Essential Oils, NOW Health Group Inc., Edens Garden, Majestic Pure Cosmeceuticals and Vitruvi. These market players tend to focus on product launches in order to gain a competitive advantage. For example, in August 2020 Young Living Essential Oils announced a number of new products, such as Ecuadorian oregano oil and cassia oil.
Categories under the essential oil market are orange, eucalyptus, cornmint, peppermint, citronella, lemon, lime, clove, spearmint, rosemary, lavender, and others. Among these, the orange category had the highest sales in 2020 as the consumption of orange oil helps improve the quality of the skin, hair, nails and hair. The oil is used to treat stretch marks and acne, improve skin circulation, rejuvenate the skin, and loosen up surrounding tissues. Additionally, the wide availability of oranges in India, Mexico and China will support the growth of this category for the foreseeable future.
Geographically, the European region is expected to hold the largest share of the essential oils market over the forecast period. This is largely due to the growing public awareness of the health benefits of such oils in the area. In addition, the increasing preference for natural products in Europe will lead to a high consumption of essential oils in the cosmetics and food and beverage industries in the region. Both industries use such oils in innovative ways to create better products for their customers.
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The Asia Pacific (APAC) essential oils market is expected to show the fastest growth over the forecast period. This will be due to the increasing availability and affordability of essential oils in the region. In addition, improving people’s lifestyle and increasing awareness of such oils will fuel market growth in the region for the foreseeable future. In addition, the increasing awareness of the results of aromatherapy and the booming number of patients with chronic conditions will also increase the demand for essential oils in the region in the years to come.
The major players in the global essential oils market are dōTERRA International LLC, Plant Therapy Inc., Rocky Mountain Oils LLC, Young Living Essential Oils, Edens Garden, Vitruvi, Frontier Co-op, PublicGoods, Organic Aromas, REVIVE Essential Oils LLC, NOW Health Group Inc. and Majestic Pure Cosmeceuticals.
Market Size Breakdown by Segment
By type
- orange
- eucalyptus
- Corn mint
- peppermint
- Citronella
- lemon
- lime
- clove
- Green mint
- rosemary
- lavender
According to the extraction method
- distillation
- Carbon dioxide extraction
- Cold press extraction
- Solvent extraction
After application
- food and drinks
- Cosmetics & toiletries
- Aromatherapy
- Home care
- Health care
By region
- North America
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Asia Pacific (APAC)
- Japan
- China
- India
- Australia
- South Korea
- Latin America (LATAM)
- Middle East and Africa (MEA)
- Saudi Arabia
- South Africa
Market segment analysis of the countries
- The 16 countries listed are further broken down according to the following segmentation:
- By type
- According to the extraction method
- On application
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Aromatherapy Market Report – In the near future, the Asia-Pacific aromatherapy market will expand rapidly, according to research firm P&S Intelligence. This is attributed to the growing awareness of the masses of the various benefits aromatherapy has in treating various diseases and health conditions and the large-scale production of essential oils in several APAC countries.
Cosmetic Chemicals Market Report – Currently, Asia Pacific is the largest cosmetic chemicals market as it is the most populous region in the world. This leads to an enormous demand for cosmetic products and thus also for the chemicals they contain. In addition, many regional and western chemical companies have production facilities here. These companies conduct research studies for better ingredients and focus on inexpensive raw material sourcing.
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