The latest market report published by Credence Research, Inc. is “Global Essential Oils Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028″. The Global Essential Oils Market generated revenue of around USD 18.2 Billion in 2021 and is anticipated to grow a CAGR of over 7.1% during the forecast period from 2022 to 2028 to reach around USD 27.5 Billion in 2028. At the same time, cumulative growth opportunity presented by the global Essential Oils is around USD 9.3 Billion during 2022 to 2028.
Aromatherapy has increased the use of these volatile oils as a potential therapeutic agent, including massage, inhalation, and bathing. Growing public awareness of the benefits of aromatherapy as a result of people’s growing interest in natural care and getting back to nature will spur the creation of natural/organic components with healing properties. Due to a surge in customer demand for simple and less synthetic chemicals on product labels, the growing trend of clean labelling is a vital contributor to the overall industry expansion. Unhealthy ingredients, such as chemical formulas of synthetic chemicals, are not listed on clean labels. Manufacturers will be encouraged to employ essential oils instead of synthetic additives as a result of this trend.
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The global essential oils market is bifurcated into type, method of extraction, application, and Geography. Based on type, the market is categorized into Orange oil, Lemon oil, Lime oil, Peppermint oil, Cornmint oil, Citronella oil, Spearmint oil, Geranium oil, Clove leaf oil, Eucalyptus oil, Jasmine oil, Tea tree oil, Rosemary oil, Lavender oil and Other oil types (sandalwood, cedar, chamomile, anise, ginger, thyme, cinnamon, ylang-ylang, and basil). Based on Method of Extraction market is segmented as Distillation, Carbon dioxide extraction, Cold press extraction, Solvent extraction, and Other extraction methods (resin tapping and maceration). By application, the market is categorized into Food & beverages, Cosmetics & toiletries, Aromatherapy, Home care, Health care and Other applications (feed, insecticides, and paint). Finally, based on geography, the market is segmented as North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
Based on aromas and flavorings, the global essential oils market is segmented into food & beverages, pharmaceuticals, cosmetics & personal care products, spa and salon products, household cleaning products, and others. Essential oils are widely used as aroma and flavoring agents in wide range of products in various end-user industries. The food & beverages industry dominated the global essential oils market in 2021 and is expected to increase in the near future. Growing demand for orange oil from the food & beverage industry due to its beneficial properties is expected to boost the growth of the global essential oils market. In addition, growing demand for nutritional products due to the high trend of nutrition diet has promoted the growth of the wide range of essential oils used in manufacturing nutritional products. Spa and salon products accounted as the second largest application segment of essential oils in 2021. The use of essential oils in manufacturing various aromatic products used for spa and in salon have is the major factor driving the growth of the essential oil market worldwide. Hence, high demand is reported for essential oils from the spa and solon products manufacturing industries in the market. Cosmetic and personal care products also use essential oils in a wide range of products for aroma and fragrance. Therefore, the cosmetics & personal care products industry is also anticipated to boost the high growth of the essential oils market. Other applications such as pharmaceuticals, household cleaning products and others are also anticipated to fuel high demand for the essential oils market during the forecast period from 2016 to 2028.
Europe dominated the global essential oils market in 2021 due to the region’s rising demand for natural beauty products and cosmetics. In addition, the growing demand for neutraceuticals from the geriatric population is also expected to boost market demand for essential oils in the region. Germany, France, and Spain are the major countries contributing to the region’s high demand for essential oils. However, growth of essential oils is expected to be moderate in the coming years due to the saturated market in the region. North America accounted as the second largest market for essential oils in 2015 and is anticipated to experience high growth in the near future. Increasing per capita income of people in Canada and U.S. and rising consumer awareness among the population in North America is the major factor driving the growth of the essential oils market. The Asia Pacific accounted as third largest and fastest growing market for essential oils and is projected to increase during the forecast period. Rising disposable income and knowledge regarding products manufactured using natural and synthetic raw materials is anticipated to boost market growth for essential oils in the region. The Middle East & Latin America are also projected to contribute to the demand for essential oils during the forecast period from 2021 to 2028
Why to Buy This Report-
- The report provides a qualitative as well as quantitative analysis of the global Essential Oils market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with historical period from 2016-2020, base year- 2021, and forecast period 2022-2028.
- The report contains information related to competitive landscape like how the key players in the market are operating at a global, regional, and country level
- In-depth analysis of the global market segmentation based on type, method of extraction, and application.
- Major countries in each region with their production capacities
- The global Essential Oils market report also includes the global, regional, and country-level analysis, key market trends, major players analysis, market growth strategies, and key application areas.
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Table Of Content:
1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Segmentation
2. Executive Summary
2.1. Market Snapshot: Global Essential Oils Market
3. Market Dynamics & Factors Analysis
3.1. Introduction
3.1.1. Global Essential Oils Market Value, 2016-2028, (US$ Bn)
3.2. Market Dynamics
3.2.1. Key Growth Trends
3.2.2. Major Industry Challenges
3.2.3. Key Growth Pockets
3.3. Attractive Investment Proposition,2021
3.3.1. Type
3.3.2. Method of Extraction
3.3.3. Application
3.4. Porter’s Five Forces Analysis
3.4.1. Threat of New Entrants
3.4.2. Bargaining Power of Buyers/Consumers
3.4.3. Bargaining Power of Suppliers
3.4.4. Threat of Substitute Types
3.4.5. Intensity of Competitive Rivalry
3.5. Value Chain Analysis
4. Market Positioning of Key Players, 2021
4.1. Company market share of key players, 2021
4.2. Top 6 Players
4.3. Top 3 Players
4.4. Major Strategies Adopted by Key Players
5. COVID 19 Impact Analysis
5.1. Global Essential Oils Market Pre Vs Post COVID 19, 2019 – 2028
5.2. Impact on Import & Export
5.3. Impact on Demand & Supply
6. North America
6.1. North America Essential Oils Market, by Country, 2016-2028(US$ Bn)
6.1.1. U.S.
6.1.2. Canada
6.1.3. Mexico
6.2. North America Essential Oils Market, by Type, 2016-2028(US$ Bn)
6.2.1. Overview
6.2.2. Orange oil
6.2.3. Lemon Oil
6.2.4. Lime Oil
6.2.5. Peppermint Oil
6.2.6. Cornmint oil
6.2.7. Citronella oil
6.2.8. Spearmint oil
6.2.9. Geranium oil
6.2.10. Clove leaf oil
6.2.11. Eucalyptus oil
6.2.12. Jasmine oil
6.2.13. Tea tree oil
6.2.14. Rosemary oil
6.2.15. Lavender oil
6.2.16. Other oil types (sandalwood, cedar, chamomile, anise, ginger, thyme, cinnamon, ylang-ylang, and basil)
6.3. North America Essential Oils Market, by Method of Extraction, 2016-2028(US$ Bn)
6.3.1. Overview
6.3.2. Distillation
6.3.3. Carbon dioxide extraction
6.3.4. Cold press extraction
6.3.5. Solvent extraction
6.3.6. Other extraction methods (resin tapping and maceration)
6.4. North America Essential Oils Market, by Application, 2016-2028(US$ Bn)
6.4.1. Overview
6.4.2. Food & beverages
6.4.3. Cosmetics & toiletries
6.4.4. Aromatherapy
6.4.5. Home care
6.4.6. Health care
6.4.7. Other
7. Europe
……..
8. Asia Pacific
……..
9. Latin America
……..
10. Middle East
………
11. Africa
………
12. Global
……..
13. Company Profiles
13.1. Cargill, Inc.
13.2. DuPont
13.3. Koninklijke DSM N.V.
13.4. dôTERRA
13.5. Givaudan SA
13.6. Young Living
13.7. The Lebermuth
13.8. Symrise
13.9. Sensient Technologies
13.10. Firmenich SA
13.11. Mane
13.12. ROBERTET SA
13.13. Rocky Mountain Oils LLC
13.14. BIOLANDES SAS
13.15. Falcon
13.16. Farroti
13.17. Indian Essential Oils
13.18. Ungerer Limited
13.19. Others
……………….
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