NEW YORK, May 17, 2021 / PRNewswire / – The use of essential oils in the cosmetics and personal care industries is increasing due to consumers’ increasing propensity for herbal ingredients and natural products. Eastern culture has had a huge impact on the beauty and fashion industries. Essential oils are used in a wide variety of cosmetic products due to their excellent anti-aging properties, resulting in clearer and smoother skin. Because of their antioxidant properties, the sale of essential oils for use in the cosmetics market is gaining in importance.
According to a new report from Persistence Market Research, the global essential oils market will see impressive growth in value of around 8% CAGR over the next decade.
Key takeaways from Market Stud
- The market in India and China The CAGR is expected to increase by 12.2% and 11.2%, respectively, over the decade.
- in the Asia PacificDue to the presence of large countries producing large herbal ingredients such as: India, China, and Thailand.
- Essential oils derived from herbs and spices are expected to have a significant CAGR of close to 10% due to their high nutritional value and increased use in various industries.
- The essential oils market in Europe is expected to expand at a CAGR of nearly 8% by 2030.
- Germany, France, and Russia make up a significant proportion of Europe Market, driven by increasing health awareness and high purchasing power of consumers.
- Establishing efficient supply chains and distribution channels facilitates the easy availability of essential oils. The online sales channel is expected to grow more than 10% CAGR through 2030.
- The spread of COVID-19 has hampered production and disrupted supply chain activities of essential oils. However, with the increasing demand for health promoting, nutritional and natural products, it is expected that the losses will be made up in the near future.
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“Aromatherapy practices are becoming increasingly important because of the increasing demand for drug substitutes and therapeutic techniques for mental and physical well-being. That way, manufacturers could make higher profits by turning to aromatherapy manufacturers,” said an analyst with Persistence Market Research .
Competitive landscape
Many major essential oil manufacturers have implemented tiered marketing techniques in order to reach more customers and grow their businesses. Growing awareness of the health benefits of essential oils has led to growth in retail sales, particularly via convenience stores.
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In addition to over-the-counter sales, the main players also offer their customers products directly via online sales channels. This has made it easier for customers to access products. Manufacturers have also provided wholesalers to order products in bulk through their websites.
- For example, DoTerra recently reached a milestone of 5 million customers worldwide due to the broad awareness and easy access to its products.
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Discover other valuable insights
Persistence Market Research offers in its new report an impartial analysis of the global essential oils market with historical data (2015-2019) and estimation statistics for the forecast period 2020-2030. The study provides compelling insights based on type (citrus fruits, herbs and spices, mints, flowers, nuts and others), nature (organic and conventional), end-use (food and beverage, cosmetics and personal care, home care and toiletries). Aromatherapy, pet food, food service and retail / household) and distribution channel (business to business and business to consumer) in seven major regions of the world.
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