Global Essential Oils Market: Overview
Growing consumer preference and the introduction of alternative medical treatments such as aromatherapy over traditional drugs are likely to drive the global essential oils market. The rapid growth of end-use industries such as aromatherapy, personal care and cosmetics, and food and beverages has resulted in a surge in demand for essential oils. The global essential oils market is expected to gain momentum in the forecast period 2018-2028.
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An essential oil refers to a natural product that is extracted from a single species of plant. Not all plants can produce essential oils. The plants that produce the essential oils, the essential oil can be found in the fruits, leaves, roots, flowers and stems. Plants themselves also use essential oils. Naturally occurring essential oils in plants aid in infection control, wound healing, control of hormonal effects and moisture, and attract or repel animals, birds and insects.
The global essential oils market has been segmented based on the following parameters: product, application and region.
Global Essential Oils Market: Notable Developments
The market dynamics of the global essential oils market has been improving recently. Some of the key developments in relation to the competitive landscape of the Global Essential Oils Market are:
- US-based essential flooring seller Young Living has partnered with CNN Philippines to announce a six-part documentary that tells the story of essential oil production.
- In October 2016, the Biolandes Group expanded its presence in Madagascar through the acquired French company Golgemma. Golgemma is a certified organic essential oil supplier and has more than 300 items in its catalog. They also have strong ties to raw materials in Madagascar.
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Some of the Most Well-known Competitors in the Competitive Landscape of the Global Essential Oils Market Are:
- Young life
- Biolandes
- Rock Mountain Oils
- Moksha lifestyle
- bottle
- Frutarom
Global Essential Oils Market: Growth Drivers
Numerous Health Benefits to Help Increase the Demand for Essential Oils
It is predicted that the increasing reliance on organic and natural ingredients in cosmetic formulations will fuel the demand for essential oils. These oils have a wide range of uses in hair care, skin care, and perfumes. It is used for natural preservation, fragrance, and therapeutic properties. Therapeutic properties include dandruff and hair loss control, anti-aging, and skin rejuvenation. The shift in consumer preference to sustainable natural ingredients with multifunctional properties is expected to increase the demand for essential oils worldwide.
Because of their virucidal, antiparasitic, fungicidal, insecticidal and bactericidal effects, essential oils are also used in the manufacture of pharmaceuticals. As such, essential oil is used to treat breathing problems, dental problems, and skin diseases.
Global Essential Oils Market: Regional Outlook
Europe, led by countries like Germany, Italy, France and the UK, saw strong gains between 2019 and 2027. The presence of numerous cosmetics companies in the European region should drive the regional growth of the industry. The inclination of consumers to use natural ingredients in cosmetic products, together with the ecological sustainability of these materials, is likely to increase regional demand for essential oils.
The Asia-Pacific region, led by China, South Korea, India and Japan, is set to see impressive growth through 2027. The increasing adoption of assistive farming techniques, particularly in China and India, has led to increased production of crops such as cloves, peppermint, lemon and orange in particular stimulate market growth.
In addition, the emerging spa & relaxation trend combined with increasing consumer spending on wellness may fuel the growth of the essential oils market in the Asia Pacific region.
The Global Essential Oils Market is divided into:
On a product basis
- Orange oil
- lemon oil
- Eucalyptus oil
- Clove oil
- Peppermint oil
- Jasmine oil
- Rosemary oil
- Corn mint oil
- Citronella oil
- Geranium oil
- Mint oil
- Lavender oil
- Tea tree oil
- Other
Based on the application
- Pharmaceuticals
- Food & drinks
- Aromatherapy
- Cosmetics & Toiletries
- Animal feed
- Cleaning & homecare
- Scents
- Other
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