Press release
Essential Oils Market 2024 - By Share, Size, Trend, Demand, Analysis By Top Leading Players And Forecast Till 2033
Essential Oils Market
The Business Research Company presents an extensive market research report on the Essential Oils Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The essential oils market size has grown rapidly in recent years. It will grow from $15.46 billion in 2023 to $17.57 billion in 2024 at a compound annual growth rate (CAGR) of 13.7%. The growth in the historic period can be attributed to traditional and alternative medicine, aromatherapy trends, natural and organic products demand, cosmetic and personal care industry growth, food and beverage flavoring, rising awareness of health benefits.
The essential oils market size is expected to see rapid growth in the next few years. It will grow to $31.25 billion in 2028 at a compound annual growth rate (CAGR) of 15.5%. The growth in the forecast period can be attributed to wellness and self-care trends, natural fragrance in home products, expanding beauty and personal care markets, sustainable and ethical practices, global exploration of unique flora. Major trends in the forecast period include expansion in emerging markets, innovative blending and formulations, focus on sustainability and ethical sourcing, rising popularity of aromatherapy, increasing demand for organic and natural products.
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Key Market Players:
Major companies operating in the essential oils market report are Cargill Incorporated, Koninklijke DSM N.V., DuPont de Nemours Inc., International Flavors & Fragrances Inc., Essential Oils New Zealand Limited, Givaudan SA, Symrise AG, Mane SA, doTERRA International LLC, Sensient Technologies Corporation, Robertet SA, Firmenich International SA, Ungerer Limited, Aromatics International LLC, Young Living Essential Oils LC, Mountain Rose Herbs, Falcon Essential Oils, The Lebermuth Company Inc., BIOLANDES SAS, Rocky Mountain Oils LLC, Edens Garden, Plant Therapy LLC, Florihana, Aromaaz International, Stillpoint Aromatics LLC, Wyndmere Naturals Inc., Aromatherapy Associates Limited, Farroti Essential Oils Pvt. Ltd., Indian Essential Oils, Oshadhi Ltd., Floracopeia Inc.
Market Drivers:
The growing spa industry across the globe is expected to propel the growth of the essential oils market. Essential oils are used in aromatherapy, a form of alternative medicine to support health and well-being. Consumer preference is increasing for natural and organic oil products all around the globe. For instance, according to The Global Wellness Institute, a US-based nonprofit organization, in the year 2022, the spa industry comprised more than 181,000 establishments, generating revenues totaling $105 billion. Additionally, spa revenues are anticipated to surpass their pre-pandemic levels by 2023, with a projected growth to $156 billion by 2027. Therefore, the increasing spa industry across the globe is driving the growth of the essential oils market.
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https://www.thebusinessresearchcompany.com/report/essential-oils-global-market-report
The essential oils market covered in this report is segmented -
1) By Type: Orange Oil, Lemon Oil, Lime Oil, Peppermint Oil, Cornmint Oil, Citronella Oil, Spearmint Oil, Geranium Oil, Clove Leaf Oil, Eucalyptus Oil
2) By Method of Extraction: Distillation, Carbon Dioxide Extraction, Cold Press Extraction, Solvent Extraction, Other Method Of Extraction
3) By Application: Food & Beverage, Aromatherapy, Cosmetics & Toiletries, Pharmaceuticals, Cleaning & Home Care, Animal Feed, Fragrances
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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