[Latest] Global Essential Oils Market Size/Share Worth USD

SAN FRANCISCO, U.S., Feb. 17, 2023 (GLOBE NEWSWIRE) — Facts and Factors has released a new research report titled “Essential Oils Market SizeShare, Growth Analysis Report by Product (Orange, Eucalyptus, Cornmint, Peppermint, Citronella, Lemon, Lime, Clove, Spearmint and Others), by Application (Cleaning & Household, Medical, Food & Beverage, Spa & Relaxation, and Others) and by Region : Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends and Forecast 2020-2026” in its research database.

“According to the latest research study, the demand by size and share of the global essential oils market was estimated to be approximately USD 7 billion in 2019. The market is expected to grow over a CAGR of 9.3% and is projected to reach over $14.1 billion by 2026.”

Essential Oils Market Overview:

The essential oils are liquids extracted from the stems, leaves, seeds, roots or flowers of the respective plant. Some of the common essential oil sources are tea tree, lavender, orange, lemon, peppermint, and others. Antibacterial, antifungal, antiviral and antimicrobial properties are attributed to essential oils.

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Additionally, essential oils’ ability to bypass the digestive system has increased their use to improve digestion. It is also used in infants to make capsules or tablets easier to swallow and in some individuals to improve oxygenation.

Industry growth drivers:

The growth of the essential oils market is largely due to the increasing use of essential oils in myriad applications such as aromatherapy, flavors and fragrances, etc. Furthermore, the healing properties of essential oils are likely to help further impel the growth of the global essential oil market during the forecast period. The growing acceptance of essential oils in commercial, home and industrial applications is helping to expand the market.

Rising demand for natural preservatives is expected to increase essential oil sales and open new opportunities during the forecast period. However, the high cost of essential oils is one of the key factors expected to hamper the essential oils market.

Key findings from primary research

• According to the analysis, the Essential Oils Market Share is likely to grow above a CAGR of around 9.3% between 2020 and 2026.
• Essential Oils market size was roughly worth U.S$ 7 billion In 2019 and is estimated to meet about U.S$ 14.1 billion from 2026. The market is predicted to witness significant growth owing to a variety of driving factors.
• The increasing use of essential oils in a variety of applications is expected to contribute to growth over the forecast period.
• Based on the product, the global Essential Oils market is predicted to be led by Orange.
• Based on application, the food and beverage segment is expected to hold the largest essential oils market share over the projection period.
• Based on region, “North America” ​​is likely to overtake the global market.

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Essential Oils Market: Segmentation Analysis

• Orange is expected to lead the global essential oils market

Due to the non-greasy and eco-friendly extraction processes, the orange category is expected to dominate the global essential oil market. Furthermore, the appropriate application in pest control, household cleaning and therapeutic products helps to further fuel the market growth. Apart from this, the rising sales of Orange Essential Oil in the fragrance industry are said to boost the market expansion.

• The food and beverage category accounts for the bulk of the market share of the global essential oils market during the forecast period

The food and beverage category dominates the global essential oils market due to strict government regulations regarding the limited use of synthetic flavors or food essences and food safety. In addition, the growing demand for natural ingredients in food preparation is one of the key drivers of the market. The increasing use of essential oils as a natural ingredient in food preparation is the main driving factor.

Regional Analysis:

• North America is expected to hold the majority of the market share during the forecast period

Due to the increasing application of essential oils in the food and beverage sector as well as pharmaceuticals, North America is projected to hold the majority of the market share during the forecast period. The growth of the market in North America is attributed to growing awareness of the benefits of essential oils and increasing investment in aromatherapy and body massage.

In addition, the Asia-Pacific region is expected to show the highest growth rate due to the growing consumer base and extensive application in the Asia-Pacific region.

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Competitive Players:

The report provides qualitative and quantitative research of the global Essential Oils market along with detailed insights and development strategies of the leading competitors.

Some of the major players in the global essential oils market are:

• H. Reynaude & Fils
• Essential Oils from Sydney Co. Pty Ltd.
• organic country
• Farotti SRL
• The company Lebermuth
• Moksha lifestyle products
• Young Living essential oils
• doTERRA International
• West India Species Inc.
• Essential Oils from New Zealand

The global essential oils market is segmented as follows:

By product

• Orange
• eucalyptus
• corn mint
• peppermint
• citronella
• lemon
• lime
• clove
• Green mint
• Other

through application

• food and drinks
• Medical
• cleaning and home
• wellness and relaxation
• Other

By region

• North America
• Europe
  • France
  • The UK
  • Spain
  • rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South East Asia
  • Rest of Southeast Asia
• The Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East and Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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Report scope:

report attribute	details
Market size in 2019	$7 billion
Predicted market size in 2026	$14.1 billion
CAGR growth rate	9.3% CAGR
base year	2029
Expected years	2020-2026
Important market participants	H. Reynaude & Fils, Sydney Essential Oils Co. Pty Ltd., Biolandes, Farotti SRL, The Lebermuth Company, Moksha Lifestyle Products, Young Living Essential Oils, doTERRA International, West India Species, Inc., Essential Oils of New Zealand and others .
key segment	By product, application and region
Major regions covered	North America, Europe, Asia Pacific, Latin America and the Middle East and Africa
purchase options	Request custom purchase options to meet your research needs.

Main Offers:

• Market size, trends and forecast by revenue | 2020−2026
• Market Dynamics – Leading Trends, Growth Drivers, Restraints and Investment Opportunities
• Market Segmentation – A detailed analysis by product, application and region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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