Press release
Essential Oils Market Size, Share & Growth to Hit $33.64 Billion by 2028 | Exhibit a CAGR of 8.1%
Consumer demand for essential oils is growing owing to its multiple applications such as aroma diffusers or increasing air freshness by adding essential oil drops into the aroma pot. The essential oil has gain popularity in young women's for making cosmetics at home as it consists of medicinal benefits and natural content.
The essential oil has antimicrobial properties which help in preserving the food for a longer period without using synthetic preservatives. This helps the manufacturer increase the shelf life of the products. Increasing demand for safe and natural products is expected to increase the market share for the food & beverages segment across the globe over the forecast period.
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Orange oil gains the largest market share in the year 2020 as it has beauty-enhancing properties and thus it was in high demand for cosmetic applications. As the consumer choices are focus on natural beauty products as an alternative to chemical products the organic oil is expected to drive market growth in the upcoming years.
Europe dominated the market for essential oils in the year 2020 as several key players operating in the region. European Federation of Essential oils creates potential opportunities for the industries in the region which acts as a catalyst for the increasing industry growth in the region. Asia pacific has the capacity to gain a larger market share in the forecast period is it consists of new market opportunities and a growing consumer base.
Leading players in the essential oil market include Sydney Essential Oil Co. (SEOC), Biolandes SAS, India Essential Oils, Essential Oils of New Zealand, DoTerra, Moksha Lifestyle Products, Young Living Essential Oils, Flavex Naturextrakte GmbH, West India Spices Inc., Ungerer Limited, H. Reynaud & Fils (HRF), Farotti S. R. L., Rocky Mountain Essential Oils, Falcon, The Lebermuth Company. Key market players are focusing on new sales channels and marketing strategies to gain a larger market share.
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Polaris Market Research has segmented the essential oils market report on the basis of product, application, sales channel and region:
Essential Oils, Product Outlook (Revenue - USD Billion; Volume - Kilo Tons, 2016 - 2028)
• Orange oil
• Lemon oil
• Lime oil
• Geranium oil
• Peppermint oil
• Cornmint oil
• Eucalyptus oil
• Jasmine oil
• Tea tree oil
• Rosemary oil
• Citronella oil
• Spearmint oil
• Clove leaf oil
• Lavender oil
• Other oil types
Essential Oils, Application Outlook (Revenue - USD Billion; Volume - Kilo Tons, 2016 - 2028)
• Medical
• Pharmaceutical
• Nutraceuticals
• Food & Beverages
• Bakery
• Confectionery
• Dairy
• RTE meals
• Beverages
• Meat, Poultry & Seafood
• Snacks & Nutritional Bars
• Spa & Relaxation
• Aromatherapy
• Massage Oil
• Personal Care
• Cosmetics
• Hair Care
• Skin Care
• Sun Care
• Makeup & Color Cosmetics
• Toiletries
• Soaps
• Shampoos
• Men's Grooming
• Oral Care
• Baby Care
• Fragrances
• Perfumes
• Body Sprays
• Air fresheners
• Cleaning & Home
• Kitchen Cleaners
• Floor Cleaners
• Bathroom Cleaner
• Fabric Care
Essential Oils, Sales Channel Outlook (Revenue - USD Billion; Volume - Kilo Tons, 2016 - 2028)
• Direct Selling
• Other sales channels
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Polaris Market Research is a global market research and consulting organization. We provide unparalleled service to our customers located all over the world across a variety of industries. Polaris Market Research has the expertise to provide deep market insight along with market intelligence to clients across a variety of businesses. We at Polaris are obliged to serve a diverse customer base that exists in various ventures around the world, including medical services, healthcare, innovation, next-generation technologies, semiconductors, chemicals, automotive, aerospace and defense.
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