Essential Oils Market by Type (Orange, Peppermint, Lemon, Lavender, Tea Tree, Others), Application (Food and Beverages, Personal Care and Cosmetics, Aromatherapy, Home Care, Others): Global Market Size Estimates and Forecast (2022–2030)

Code: BMIRE00025918 | Pages: 100 | Industry: Chemicals and Materials | Date: Sep 2022 | Type: Global

The market crossed US$ 21.5 billion mark in 2022 and is expected to hit US$ 38.0 billion by 2030, recording a CAGR of 7.4% during the forecast period.

Essential oils market has been significantly growing with the high demand from aromatherapy segment.

Aromatherapy may be described as the usage of essential oils for cosmetic and healing purpose. Essential oils benefit the psychological and physiological activity at the same time; as a result, they are used in aromatherapy. Spa therapy is becoming increasingly popular in numerous places as it promotes a feeling of calmness and relaxation. Many spa therapy places utilize essential oils on a daily basis and make repeated purchases of the same. Moreover, the product is also used by consumers at home to have pleasant aromatic surroundings. Thus, the aforementioned factors have been driving the consumption of essential oils in the aromatherapy segment.

Within the report, the market is segmented into type, application, and geography. By type, the market is further segmented into orange, peppermint, lemon, lavender, tea tree, and others. On the basis of application, the market is bifurcated into food and beverages, personal care and cosmetics, aromatherapy, home care, and others. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

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Cold pressing extraction method propelled the growth of essential oils market.

Essential oils are derived from various potentially beneficial plants through liquid extraction. Manufacturers extract the useful compounds from the plants. Essential oils contain the concentrated smell of the plants that they are derived from, thus they are generally used after diluting them. They contain high level of active ingredients and are rarely used directly over skin. Therefore, many manufacturers sell the essential oils by adding a carrier oil; however, these products are not considered pure essential oils. Cold pressing and steam or water distillation are the most common processes to extract essential oils from plants.

Rising adoption in various industries is one of the major factors accelerating the market growth.

Rising adoption of natural and ecofriendly products is influencing the growth of essential oils. Many industries such as food and beverages and personal care and cosmetics are focused on producing natural products and deflecting away from the production of products containing synthetic fragrances. This is done to acquire certain favorable labelling as well as cater to the massive demand for natural products from the consumers. Moreover, organic and 100% plant-based products cannot use synthetic fragrances, which is driving the market for essential oils.

Recent strategic developments in essential oils market

The essential oils market has undergone several significant developments, and a few of these have been mentioned below:

  • In May 2021, Les Derives Résiniques et Terpeniques, a supplier of naturally derived, renewable, and high-quality ingredients was acquired by Firmenich. The acquisition was a strategic move to further enhance market capitalization of Firmenich.
  • In February 2021, Myrissi SAS, first of its kind company to have designed Intelligent Sensory Translator for development of fragrance products was acquired by Givaudan. The acquisition is expected to give Givaudan a technological competitive edge in the essential oils market.

The essential oils market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. DSM; Givaudan; International Flavors and Fragrances Inc.; Symrise; and Firmenich SA are among the prominent players operating in the market.

Target audience for the report:

  • Raw material providers
  • Fragrance Manufacturers
  • Cosmetic Products Manufacturers
  • Chemical Manufacturers
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • Cleaning Products Manufacturers
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Type:
    • Orange
    • Peppermint
    • Lemon
    • Lavender
    • Tea Tree
    • Others
  • Application:
    • Food and Beverages
    • Personal Care and Cosmetics
    • Aromatherapy
    • Home Care
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • DSM
    • Givaudan
    • International Flavors and Fragrances Inc.
    • Symrise
    • Firmenich SA
  • DSM
  • Givaudan
  • International Flavors and Fragrances Inc.
  • Symrise
  • Firmenich SA
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