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According to a new report released by Grand View Research, the continued growth in skin care and personal care trends among consumers, as well as the growing popularity of aromatherapy around the world have created a positive environment for the essential oils market to develop.
Global demand for Essential Oils Market is expected to be achieved 473.31 kilotons until the year 2027, according to an extensive study by Grand View Research, Inc. The report predicts that the industry will at one CAGR of 7.5% from 2020 to 2027. The continued popularity of aromatherapy as an effective way to combat lifestyle disorders has greatly contributed to the global demand for essential oils. In addition to aromatherapy, essential oils are also widely used in areas such as food and beverage manufacturing, as well as in pharmaceuticals, personal care and cosmetic products. The variety of products available to consumers, with each product offering a specific set of health and wellness benefits, is a major driver of the industry. Essential oils are mainly composed of terpenes and their oxygenated derivatives and are found in specialized cells / glands of various plants. During the manufacturing process, these glands are torn open either by pressing or by exposure to heat, releasing aroma. The product consists of aromatic compounds that are both volatile and hydrophobic.
Essential oils are used by consumers for a number of purposes, such as enhancing the air freshness at home by adding drops in aroma pots or aroma diffusers, and in aroma baths by adding oils to water. The rising DIY trend in cosmetic and personal care products has increased the demand for essential oils, especially among young women. The availability of cosmetics experts on social media platforms has also encouraged consumers to purchase various types of essential oils or make homemade solutions from them. An important trend that has forced manufacturers to innovate and experiment is the demand for organic products due to the introduction of regulations that favor the use of environmentally friendly ingredients in cosmetics. In this regard, the industry has seen a surge in demand for 100% plant-based products that are free from synthetic fragrances and animal ingredients. The emergence of the COVID-19 pandemic resulted in various supply chain disruptions in the first few months of the outbreak, with raw material shortages, increases in ingredient prices and trade closings affecting the advancement of the essential oils industry.
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Essential Oils Market Report Highlights
• A number of essential oils have been shown to have desirable properties for consumers, including antimicrobial, antiviral, antifungal and antioxidant properties. Hence, global demand has grown promisingly in recent years, which is what drives the industry
• In addition to their primary uses in aromatherapy and relaxation, essential oils are also used in a variety of household and personal care applications. A number of major manufacturers of perfumes, air fresheners, and body sprays have made essential oils an integral part of their ingredients. In the manufacture of soaps and shampoos, products such as tea tree, patchouli, and rosemary are widely used, making a significant contribution to the growth of the essential oils market
• On the product side, the orange oil segment is to be increased CAGR of 7.4% over the forecast period in the essential oils market. The product is characterized by the promotion of elasticity and firmness of the skin and has also proven itself in problems such as stretch marks, dermatitis and acne
In terms of application, the Spa and Relaxation segment had the highest share of the essential oils market in 2019 as consumers increasingly prefer stress relieving therapies such as aromatherapy as an effective remedy for their hectic lifestyles
• The essential oils market is well established in Europe due to the widespread presence of various large companies in this area in the region and the cheap availability of raw materials. In addition, it is expected that the presence of organizations such as the European Federation of Essential Oils (EFEO) will further regulate and advance the industry in the future
• The coronavirus outbreak has provided essential oil manufacturers with an opportunity to grow their sales by including the product in hand sanitizers and lotions. Given current guidelines requiring the use of disinfectants by households and commercial establishments, increasing demand may be a major driver of industry growth in the near future.
• The demand for essential oils is expected to be influenced by various researches into the effectiveness of different types of ingredients. For example, cell research published in the Cosmetics Journal in 2020 found that Indian sandalwood oil is a stronger antioxidant than vitamin E. This is expected to spur the use of this oil as an antiaging ingredient in cosmetics and dermatology
• Companies involved in the essential oil market are implementing strategies such as mergers and acquisitions, partnerships, product launches, and geographic expansion to drive their growth. For example, in June 2021 doTERRA announced the opening of a new facility in Thailand, expanding its presence in Southeast Asia
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Essential Oils Market Segmentation
Grand View Research has segmented the global essential oils market by product, application, distribution channel, and region:
Essential Oils Product Outlook (Volume, Tons; Revenue, USD thousands, 2016-2027)
• Acorus Calamus
• Ajwain
• basil
• Black pepper
• cardamom
• carrot seeds
• Cassia
• Cedar wood
• Celery
• Cinammon
• Citronella
• Ciz-3 hexanol
• Clove
• Corn mint
• Cumin seeds
• Curry leaf
• cypress
• Cyprus
• Davana
• Dill seeds
• Dementholized peppermint
• eucalyptus
• fennel
• incense
• Garlic
• Ginger
• Holy basil
• Juniper Berry
• Lavender
• lemon
• lemongrass
• Lime
• Morning star
• Mustard
• To take
• Nutmeg
• Orange
• Palmarosa
• Patchouli
• peppermint
• rosemary
• Green mint
• Tangerine
• Tea tree
• turmeric
• Vetiver
• Other
Essential Oils Application Outlook (Volume, Tons; Revenue, $ thousands, 2016-2027)
• Medical
• Pharmaceuticals
• Nutraceuticals
• Food and drinks
• Bakery
• Confectionery
• dairy
• RTE meals
• Beverages
• Meat, poultry and seafood
• Snacks and food bars
• Spa & relaxation
• aromatherapy
• Massage oil
• Personal hygiene
• cosmetics
• Hair care
• skin care
• Suncream
• Make-up and color cosmetics
• Care products
• soaps
• shampoos
• Grooming for men
• Oral care
• Baby care
• Fragrances
• Perfumes
• body sprays
• Air freshener
• Cleaning & home
• Kitchen cleaner
• Floor cleaner
• Bathroom cleaners
• Fabric care
Outlook of the distribution channel for essential oils (volume, tons; sales, thousands of USD, 2016-2027)
• Direct sales
• Other
Regional Outlook for Essential Oils (Volume, Tons; Revenue, USD thousands, 2016-2027)
• North America
• US
• Mexico
• Canada
• Europe
• Germany
• Great Britain
• France
• Asia Pacific
• China
• India
• Japan
• Singapore
• Australia
• Taiwan
• South Korea
• Central America
• South America
• Middle East and Africa
List of major contributors to the essential oils market
• Sydney Essential Oil Co. (SEOC)
• Biolandes SAS
• Essential oils from India
• H. Reynaud & Fils (HRF)
• Young Living essential oils
• DoTerra
• New Zealand Essential Oils
• Farotti SRL
• Flavex Naturextrakte GmbH
• West India Spices Inc.
• Falcon
• Ungerer Limited
• The Lebermuth company
• Rocky Mountain Essential Oils
• Moksha Lifestyle Products
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Via Grand View Research
Grand View Research is a California-registered market research and consulting company based in San Francisco. The company offers syndicated research reports, bespoke research reports and advisory services. Grand View Research gives you the opportunity to understand market trends, insights, and business statistics from a strategic perspective. With an in-depth understanding of many business environments, Grand View Research offers business and market intelligence studies and conducts more than 300 cross-border market studies.
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Website: https://www.grandviewresearch.com/industry-analysis/essential-oils-market
