Global Essential Oils Market is expected to grow at a CAGR of 9.4% during the forecast period from 2019-2025

As per the report published by Fior Markets, the global essential oils market is expected to grow from USD 7.9 Billion in 2017 to USD 16.2 Billion by 2025 at a CAGR of 9.4% during the forecast period from 2018-2025.Europe region is dominating the market because of the high disposable income of people and most of the snow receiving regions are in Europe.

Global Essential Oils Market by Product (Orange, Eucalyptus, Corn Mint, Peppermint, Citronella, Lemon, Lime, Others), Channels of Distribution,Application, Region Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025

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Leading companies in the industry include DoTerra, Young Living Essential Oil, Essential Oils of New Zealand, The Lebermuth Company, NOW Foods among others which are offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.For instance, Young Living Essential Oils, a key player in the essential oils market acquired Life Matters, a wellness company in direct selling industry in a non-cash deal. This acquisition will help the company in the strengthening and expanding its business.

The product segment is classified into orange, eucalyptus, corn mint, peppermint, citronella, lemon, lime, clover leaf, spearmint and others.The orange oil is dominating the market and valued around USD 1.77 Billion in 2017. Various industries are employing orange essential oils to enhance product value and sensory appeal. This oil helps to firm up the skin, uphold elasticity, and tone up the skin as well as treat acne, dermatitis and stretch marks. They also helps in improving quality of hair, nails, and skin, boosting their appeal among women and female teenage consumers.Channels of distribution segment is divided into segments such as direct selling and other sales channels. The other sales channel is likely to dominate the market in 2017. Growing awareness regarding essential oils among public has caused increased adoption of a wide range of retail channels such as accessory shops, home centers, convenience stores, and discount stores. Also, many importers and wholesalers have launched websites for online sales, in addition to existing over-the-counter sales. Application segment is bifurcated into food & beverages, medical, cleaning & home, spa & relaxation and others. The food and beverage segment is dominating the market and valued around USD 2.93 Billion in 2017. Essential oils have a high significance in the food industry because of their antioxidant, antifungal and antibacterial properties exhibited by them.

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Increasing demand of flavors and fragrances from key end-use industries had led to an upward shift in demand of essential oils. Also, adoption of natural & herbal treatment along with growing economic standards has increased essential oils demand. But various health problems caused by essential oils may hamper the growth of market. However, rising trend for clean labeling is motivating end use industries to make use of natural ingredients in their products to meet varied customer needs which would drive the industry growth in coming years.

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