Essential Oil Market to reach USD 21 Bn by 2029, emerging at a CAGR of 9.31 percent and forecast 2023-2029

Essential Oil Market Report Scope and Research Methodology :

Report Scope

The research report employs a robust research methodology, utilizing both primary and secondary data sources. This comprehensive approach involves analyzing various factors impacting the industry, including government policies, market dynamics, historical data, technological innovations, market risks, and opportunities.

The report presents quantitative and qualitative data, normalized market sizes for top-level markets and sub-segments, and considers factors like inflation, economic trends, regulatory changes, and more. The data is thoroughly researched, validated through primary sources, and presented with detailed analysis.

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Essential Oil Market Dynamics:

Key Drivers

Demand for Aromatherapy: The use of essential oils in aromatherapy has witnessed significant growth, driven by their positive impact on both physiological and psychological well-being. Increased wealth and changing consumer preferences have fueled this demand.

No Side-Effects: Essential oils are preferred by consumers due to their minimal side effects compared to conventional medications and chemicals, boosting their demand in various sectors.

Organic Products: Growing consumer awareness and regulatory support for natural and organic products in personal care and food and beverage industries have led to increased demand for essential oils.

Raw Material Suppliers: Key raw material providers have integrated their operations to reduce procurement costs and cater to multiple sectors, further driving the market.

Demand for Crops: Rising population demand for crops like oranges, lemons, and mint has driven up prices, contributing to the growth of the essential oils market.

Synthetic/Adulterated Items: Adulteration in essential oils poses a significant challenge, as consumers seek pure and safe products.

Natural Resource Depletion: Depletion of natural resources due to population growth and industrialization threatens the availability of essential oil sources.

Essential Oil Market Regional Insights:

Europe: Europe held the largest market share in 2022 (43.65%) and is expected to maintain its position. Initiatives like the EFEO have supported market growth, and an early established economy and high standard of living continue to drive key end-use industries.

Asia Pacific: Asia Pacific is expected to grow at the highest CAGR of 7.2% during the forecast period, driven by its large population and untapped markets.

Middle East and Africa: This region has experienced extraordinary expansion in recent years due to increasing local demand for essential oils, driven by improving living standards and growth in various industries.

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Essential Oil Market Segmentation:

by Type

1. Orange oil
2. Lemon oil
3. Lime oil
4. Peppermint oil
5. Cornmint oil
6. Citronella oil
7. Spearmint oil
8. Geranium oil
9. Clove leaf oil
10. Eucalyptus oil
11. Jasmine oil
12. Tea tree oil
13. Rosemary oil
14. Lavender oil

by Method of Extraction

1. Distillation
2. Carbon dioxide extraction
3. Cold press extraction
4. Solvent extraction
5. Others

by Application

1. Food & beverage
2. Cosmetics & toiletries
3. Aromatherapy
4. Home care
5. Health care
6. Others

Essential Oil Market Key Players:

1. West India Species, Inc.
2. Biolandes
3. Sydney Essential Oils Co. Pty Ltd.
4. doTERRA International
5. Farotti SR
6. Lebermuth
7. Rocky Mountain Essential Oils
8. Young Living Essential Oils
9. Moksha Lifestyle Products
10. India Essential Oil
11. Ungerer Limited
12. Falcon
13. Essential Oils of New Zealand
14. Flavex Naturextrakte GmbH
15. H.Reynaude & Fils
16. Moksha Lifestyle Products
17. Cargill, Inc.
18. DuPont
19. Koninklijke DSM N.V.
20. Givaudan SA
21. Symrise
22. Sensient Technologies Corporation
23. ROBERTET SA

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Table of content for the Essential Oil Market includes:

1. Global Essential Oil Market: Research Methodology

2. Global Essential Oil Market: Executive Summary

• Market Overview and Definitions
• Introduction to the Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry

3. Global Essential Oil Market: Competitive Analysis

• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact

4. Company Profile: Key players

• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments

Key Offerings:

• Past Market Size and Competitive Landscape
• Past Pricing and price curve by region
• Market Size, Share, Size and Forecast by different segment | 2023-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by growth and trend
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations

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