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

The Essential Oil Market is flourishing, with a valuation of USD 11.26 Billion in 2022, poised to reach USD 21 Billion by 2029. Boasting a compelling Compound Annual Growth Rate (CAGR) of 9.31%, the market anticipates robust expansion during the forecast period (2023-2029).

Maximize Market Research Pvt Ltd unveils an in-depth analysis of the Essential Oil Market, exploring product classification, application trends, technological advancements, and the competitive landscape. The report delves into industry dynamics, providing insights into market drivers, restraints, and regional perspectives.

Our comprehensive research methodology combines primary and secondary data sources, evaluating factors such as government policies, market environment, competitive landscape, historical data, and technological innovations. The report synthesizes validated quantitative and qualitative data, normalizing market sizes for top-level and sub-segments, factoring in economic variables, regulatory changes, and other influencing factors.

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Essential Oil Market Dynamics:

The surge in the popularity of aromatherapy has been a significant driving force in the market. Aromatherapy, the application of essential oils for medicinal and cosmetic purposes, has evolved from being considered a complementary treatment to now being widely acknowledged as a mainstream therapy. Essential oils, known for their ability to impact both physiological and psychological activities in the body, play a central role in aromatherapy practices.

The escalating demand for aromatherapy can be attributed to various factors, with the most noteworthy being the overall increase in wealth observed over the last decade. As consumer preferences have shifted towards more sophisticated products, essential oils have gained prominence in aromatherapy treatments. What was once considered a niche practice has now become mainstream, reflecting changing consumer tastes and preferences aligning with the growth in earnings.

Essential Oil Market Regional Insights:

In 2022, Europe emerged as the dominant force in the Essential Oil market, commanding a significant market share of 43.65%, and this trend is projected to persist throughout the forecast period. The presence of influential entities such as EFEO has played a pivotal role in propelling industry advancements within Europe. EFEO, dedicated to endorsing and safeguarding stakeholders' interests across the market value chain, is actively engaged in negotiations with the European Commission and the EU Parliament. These discussions aim to bring about modifications or introduce legislation pertaining to essential oils.

These trends have significantly fueled market development in the European region. Factors such as easy access to feedstock and the presence of numerous industry players have been instrumental in driving robust market growth. The early establishment of the economy, coupled with a high standard of living, contributes to the flourishing development of key end-use industries.

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Essential Oil Market Segmentation:

Product Type: Orange oil dominates, constituting 9.5% of total sales in 2022, with applications in personal care due to its blood-dialing effect.

Method of Extraction: Distillation holds the largest market share of xx% in 2022, retaining dominance due to its effectiveness in extracting temperature-sensitive constituents.

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

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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 (2022 to 2029)
• Past Pricing and price curve by region (2022 to 2029)
• Market Size, Share, Size and Forecast by different segment | 2022-2029
• 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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