Essential Oils Market size was valued at US$ 18.8 billion in 2021 and is expected to hit US$ 30.6 billion by 2030 with a registered CAGR of 7.5% from 2022 to 2030.
An essential oil is a liquid that is typically extracted through distillation from a plant’s stems, leaves, seeds, roots, or flowers. Lavender, tea tree, orange, lemon, peppermint, cornmint, and other essential oils are frequently utilised. These oils have antiviral, antifungal, antibacterial, and antimicrobial properties. They easily bypass the digestive system, making them advantageous for those who have issues with digestion or assimilation. Additionally, because newborns cannot swallow tablets or capsules, essential oils are ideal because they are extremely oxygenating and safe for use.
The health advantages that essential oils offer are what essentially fuel the market for them. They are now employed in practically every industry, from food and beverage to medications, animal feed, and personal care goods, as a result of the market’s rapid expansion in its application.
Key Companies Insights
Companies focus on modernizing production technology to minimize resource consumption and maximize output. Improving profitability by optimizing the value chain and restructuring business processes are key strategies opted by the manufacturers. Companies are experimenting with crops that have never before been grown in the field to obtain innovative raw materials for developing new solutions. Players such as Taksago International and Robertet Group are observing increased production capacity to meet increased demand from multiple end-use industries. Players are also focused on developing environmentally friendly production processes and investing heavily in research and development activities to reduce pressure on the natural resources from which key ingredients are extracted. Some of the key players operating in the global essential oils market include:
- Takasago International Corporation
- Symrise
- MANE
- Flavex Naturextrakte GmbH
- Firmenich SA
- Synthite Industries Ltd.
- ROBERTET GROUP
- International Flavors & Fragrances Inc.
- Givaudan
- Falcon
- Norex Flavours Private Limited
- BMV Fragrances Pvt. Ltd.
- VedaOils
- MOKSHA LIFESTYLE PRODUCTS
- Ultra International
- VidyaHerbs
- Other Players
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Segments
By Type
- Orange
- Eucalyptus
- Cornmint
- Peppermint
- Citronella
- Lemon
- Lime
- Clove
- Spearmint
- Others
By Source
- Fruits & Vegetables
- Herbs & Spices
- Flowers
By Method of Extraction
- Distillation
- Carbon dioxide extraction
- Cold press extraction
- Solvent extraction
- Others
By Application
- Food & Beverage Industry
- Cosmetics & Personal Care
- Home Care & Toiletries
- Aromatherapy
- Animal Feed
- Retail/Households
- Others
By Distribution Channel
- Direct Selling
- Online Sales
- Others
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Reasons to Purchase this Report
- Market segmentation based on qualitative and quantitative analysis, taking into account both economic and non-economic aspects.
- Data on market value (in US dollars) for each section and sub-segment
- Identifies the area and market segment anticipated to experience the quickest growth and hold the majority of the market.
- Analysis by geography showcasing product/service usage in the region and highlighting the market dynamics affecting each region.
- A competitive landscape that takes into account recent service/product launches, collaborations, company expansions, and acquisitions by the companies profiled, as well as the market share of the leading players.
- Comprehensive company profiles for the top players in the industry, including business overviews, corporate insights, product benchmarking, and SWOT analyses
- The industry’s future market forecast in light of recent changes, including growth possibilities, drivers of growth, and obstacles present in both developing and emerging economies.
- Comprises a thorough examination of the market from a number of angles using Porter’s Five Forces analysis.
- Offers market knowledge across the Value Chain
- The current market dynamics scenario and future market expansion prospects
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Key Questions Answered in This Report:
- How has the global Market performed so far and how will it perform in the coming years?
- What are the key regional Markets?
- What has been the impact of COVID-19 on the global Market?
- What is the breakup of the Market based on the type?
- What is the breakup of the Market based on the application?
- What is the breakup of the Market based on the manufacturing process?
- What is the breakup of the Market based on the price range?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global Market and who are the key players?
- What is the degree of competition in the industry?
