Essential Oils Market Scope
Essential oil is made from natural, 100% pure oil extracted by various distillation and method processes. These are extracted from various sources namely aromatic substances that are produced by the flowers, buds, leaves, roots, or seeds of plants and many more substances that have aromatic fragrances. The rising application of these oils that are used majorly in aromatherapy, a natural remedy to cure psychological stress and poor physical conditions. Essential oils are also used as food flavoring, cosmetic fragrances for perfume among other products. Therefore, the rising application of these oils in many sectors and domains is driving this industry.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | dôTERRA International LLC. (United States), Young Living (The Netherlands), Edens Garden (United States), Givaudan SA (Switzerland), Cargill (United States), Now Foods (United States), Mountain Rose Herbs (United States), Rocky Mountain (United States), Botanic Healthcare (India), Flavex Naturextrakte GmbH (Germany), Takasago International Corporation (Japan), Symrise (Germany), Firmenich SA (Switzerland) and International Flavors & Fragrances Inc. (United States) |
CAGR | % |
Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Essential Oils market throughout the predicted period.
dôTERRA International LLC. (United States), Young Living (The Netherlands), Edens Garden (United States), Givaudan SA (Switzerland), Cargill (United States), Now Foods (United States), Mountain Rose Herbs (United States), Rocky Mountain (United States), Botanic Healthcare (India), Flavex Naturextrakte GmbH (Germany), Takasago International Corporation (Japan), Symrise (Germany), Firmenich SA (Switzerland) and International Flavors & Fragrances Inc. (United States) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Essential Oils market by Type , by Application (Food & Beverage, Aromatherapy, Cosmetics & Toiletries, Pharmaceuticals, Cleaning & Home Care, Fragrances and Others) and Region with country level break-up.
On the basis of geography, the market of Essential Oils has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In July 2019, Young Living (leader in the global market) in collaboration with D. Gary Young Research Institute announced a partnership with International Space Station (ISS) and NASA. Through this partnership, entities will provide these oils and plant seeds to ISS to study chances of solar radiation in essential oil products
Influencing Trend:
Adoption of Essential Oils for Body Massages Purposes is one of the Major Trend, Aromatherapy is Gaining Prominence, Especially among Urban Population and Growing Trend of Clean Labelling is a Key Trend to the Growth of Overall Industry
Market Growth Drivers:
Cumulating Application of these Essential oils is Driving the Market and Rising Shift of Consumers Towards Natural and Organic Products is Also Leading to Increased Usage Of Essential Oils in Cosmetics and Food And Beverages
Challenges:
Specified Storage and Transportation Condition Leading to Procurement Issues and Additional Cost
Restraints:
High Cost of these Essential Oils and Issues Related with Health Problems Caused by Essential Oils
Opportunities:
Growth of End-Use Industries Such as Food & Beverage, Personal Care & Cosmetics, and Aromatherapy is Boosting the Industry and Several Overall Health Benefits Offered by these Oils are Anticipated to Fuel their Demand in Pharmaceutical and Medical Applications
Key Target Audience
Essential oil manufacturers, Essential oil importers & exporters, Essential oil, distributors, and suppliers, Spa & aromatherapy specialists and Others