Important Oils Market to Rise at 9.65% CAGR until 2026; Rising Functions in Cosmetics Trade to Present Impetus to Progress, says Fortune Enterprise Insights

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Top companies include Biolandes SAS, Givaudan International SA, International Flavors & Fragrances Inc., Symrise AG, Enio Bonchev Production Ltd., Lebermuth Company, Inc., Now Foods, Phoenix Aromas and Essential Oils LLC, Ultra International BV, Young Living essential oils and more profiled players

Pune, India, February 3, 2021 (GLOBE NEWSWIRE) – The global essential oils market size is projected to reach $ 14.6 billion by the end of 2026, according to a recent report released by Fortune Business Insights ™. The market was worth $ 7.03 billion in 2018 and will have a CAGR of 9.65% over the forecast period 2019-2026.

Essential oils are hydrophobic liquids extracted from plants. The oils capture smell and taste or essence from the sources from which they come. The growing trend towards “green” consumption has primarily driven the introduction of essential oils. In addition, the demand for products made from natural sources and their increasing preference over synthetic products offer opportunities for market growth. Advances in ingredient formulation have allowed for variations in product offerings. As a result, there is great potential for companies operating in the market. Growing health awareness of the adverse effects of synthetic chemicals will lead to later increases in the demand for essential oils in major countries of the world.

The report focuses on key aspects of the market and emphasizes the importance of several factors in the essential oils market over the past few years. The competitive landscape was discussed at length and future predictions made regarding recent performance. It offers a detailed analysis of the key aspects of the market, with an emphasis on factors such as large companies and leading products. The data in this report is obtained from trusted sources. Information is gathered through the opinions of world market leaders and interviews with experienced market researchers.

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The List of Leading Companies in the Global Essential Oils Market is:

  • Biolandes SAS

  • Givaudan International SA

  • International Flavors & Fragrances Inc.

  • Symrise AG

  • Enio Bonchev Production Ltd.

  • The Lebermuth Company, Inc.

  • Now groceries

  • Phoenix Flavors & Essential Oils LLC

  • Ultra International BV

  • Young Living essential oils

Increasing number of product launches to support market growth

The report encompasses several factors that have resulted in an increase in the global Essential Oils Market in the past few years. Due to the high demand for essential oils, companies are introducing newer products. In July 2019, doTERRA announced the launch of its bespoke label for its essential oil bottles. The company aims to provide its users with a clear understanding of the ingredients in the essential oils market. This will help streamline the products and keep the clear trend going for the company. In November 2018, Young Living Essential Oils expanded its product offering in Southeast Asia. The report includes similar product launches and measures the impact of these products on the global market.

North America and Europe lead the market

The market is segmented into North America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa based on regional demographics. Among these regions, the North American and European markets are currently dominating the market. The increasing incorporation of essential oils into cosmetic products by large companies around the world. The increasing demand for aromatherapy in European countries such as Germany, France and the UK will support the growth of the market in this region.

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Detailed table of contents:

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Important industry developments:

November 2018: Young Essential Oils announces the launch of a range of essential oils in the Southeast Asian market. The company plans to expand into the Philippines.

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Originally published February 3, 2021, 6:30 a.m.