Press release
Essential Oil Market To Be Driven By Increasing Application Across Diverse End-Use Industries Including Medical Spa & Relaxation As Flavoring And Aromatic Agents Till 2024
Increasing demand for flavors & fragrances from various applications including personal care, home care, food & beverages, aromatherapy, etc. has prompted the essential oils demand as these oils are used as key ingredients in fragrances and flavors. Numerous other advantageous product properties such as antiseptic, aphrodisiac, anti-inflammatory, antidepressant, antispasmodic, diuretic, and tonic are expected to boost essential oil demand in industrial, medicinal, and domestic applications.
The lower raw material conversion rate for essential oils production in addition to unique processes requiring massive capital investment is expected to pose challenges to market participants. Limited raw material availability as different crops are grown in the various countries only to obtain high-quality products is also anticipated to challenge the market growth.
Further key findings from the report suggest:
• Global essential oil market demand was 178.8 kilo tons in 2015 and is expected to exceed 370 kilo tons by 2024, growing at a CAGR of 8.4% from 2016 to 2024
• Orange oil emerged as the major product and accounted for 29.4% of total market volume in 2015. It is also expected to witness the highest growth rate over the forecast period. Increasing orange oil demand in food & beverages, personal care and cleaning agents is expected to foster the segment growth.
• Food & beverages industry was the leading consumer of essential oil and accounted for 34.6% of total market volume in 2015. It is also expected to witness the highest growth of 9.0% over the forecast period.
• Essential oils demand from spa & relaxation application is expected to grow at a CAGR of 8.7% from 2016 to 2024. Essential oils have a great soothing and calming effect on the nervous system and are also beneficial in blood circulation stimulation, which has triggered the essential oils demand from spa & relaxation application segment.
• Europe was the leading regional market and accounted for 43.5% of global demand in 2015. High demand for food & beverages and natural personal care products has spurred the regional market growth in upcoming years.
• Asia Pacific essential oil market is expected grow at an estimated CAGR of 9.0% from 2016 to 2024 to emerge as the fastest growing regional market. Increasing interest and awareness regarding essential oils and natural products are expected to foster the regional market.
• Some leading companies operating in the global market include Biolandes, Sydney Essential Oils, HRF, The Lebermuth Company, Young Living Essential Oils, doTerra, Essential Oils of New Zealand, Sydella Laboratoire, Farotti Essenze, Moksha Lifestyle Products, West India Spices Inc., Falcon and Ungerer Limited.
Grand View Research has segmented the global essential oil market on the basis of product, application and region:
Essential Oil Product Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2024)
• Orange
• Corn Mint
• Eucalyptus
• Citronella
• Pepper Mint
• Lemon
• Clove Leaf
• Lime
• Spearmint
• Others
Essential Oil Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2024)
• Medical
• Food & Beverages
• Spa & Relaxation
• Cleaning & Home
• Others
Essential Oil Regional Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2024)
• North America
o U.S.
• Europe
o Germany
o France
o UK
• Asia Pacific
o China
o India
o Japan
• Middle East & Africa
• Central & South America
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Press Contact
Sherry James - Corporate Relations Specialist
28 2nd Street, Suite 3036
San Francisco, CA 94105
United States
Phone: 1-415-349-0058
Email: sales@grandviewresearch.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Essential Oil Market To Be Driven By Increasing Application Across Diverse End-Use Industries Including Medical Spa & Relaxation As Flavoring And Aromatic Agents Till 2024 here
News-ID: 355368 • Views: …
More Releases from Grand View Research, Inc.
Generative AI Market Size, Share, And Industry Outlook Report, 2030
Generative AI Market Growth & Trends
The global generative AI market size is anticipated to reach USD 109.37 billion by 2030, according to a new report by Grand View Research, Inc., registering a CAGR of 37.6% from 2025 to 2030. Growing demand to modernize workflow across industries is expected to drive the demand for generative AI applications among industries. Other factors that propel the market growth include the evolution of AI…
Maternal Mental Health Market To Reach $45.72 Billion By 2030 | Therapy Mama, Ca …
The global maternal mental health market size is expected to reach USD 45.72 billion by 2030, growing at a CAGR of 28.43%, according to a new report by Grand View Research, Inc. Maternal mental health issues are a global concern that affects women of various countries and cultures. It refers to the emotional well-being of women during the pregnancy and postpartum period. The market is driven by the increasing incidence…
Downstream Processing Market Size, Share & Trends Analysis Report, 2030
The global downstream processing market size is expected to reach USD 94.79 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 14.84% from 2023 to 2030. The capacity requirements during the development of biologic drugs have changed over the past few years, wherein the demand for manufacturing high-volume products has shifted to developing small-volume, high-potency…
Electric Mobility Industry: E- Light Commercial Vehicle Thereby Contributing To …
The global electric mobility industry size stood at USD 101.67 billion in 2022 and will exhibit a CAGR of 19.9% from 2023 to 2030, according to the "Electric Mobility Industry Data Book, 2023 - 2030," published by Grand View Research. The growth comes on the back of an exponential rise in smart cities and a gradual uptick in charging infrastructure. Further, the strong outlook of electric mobility will rely on the launch…
More Releases for Essential
Lemon Essential Oil Market to See Huge Demand by 2030: Young Living Essential Oi …
The latest study released on the Global Lemon Essential Oil Market by HTF MI Research evaluates market size, trend, and forecast to 2030. The Lemon Essential Oil market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analysed study to help understand market trends, growth drivers, opportunities and upcoming challenges and about the…
Organic Essential Oils Market Is Booming Worldwide | Plant Therapy, Young Living …
A Latest intelligence report published by Market Research Forecast with title Global Organic Essential Oils Market Outlook to 2032. A detailed study accumulated to offer Latest insights about acute features of the Organic Essential Oils market. This report provides a detailed overview of key factors in the Global Organic Essential Oils Market and factors such as driver, restraint, past and current trends, regulatory scenarios and technology development.
Definition: The Organic…
Essential Oils Market Is Booming Globally with doTERRA, Young Living Essential O …
This Essential Oils Market report brings into focus plentiful of factors such as the general market conditions, trends, inclinations, key players, opportunities, and geographical analysis which all aids to take your business towards the growth and success. This Essential Oils Market report provides the broader perspective of the market place with its comprehensive market insights and analysis which eases surviving and succeeding in the market. Moreover, Essential Oils Market report…
Essential Oil Market is expected to reach $11.19 billion by 2022 - doTERRA Inter …
Essential Oil Market is expected to reach $11.19 billion by 2022, with a CAGR of 8.7% from 2016 to 2022. Essential oils, also known as volatile oils/aetherolea/ethereal oils, are derived from leaves, stems, flowers, bark, roots, or other parts of a plant. Essential oil is obtained from various herbs and plants, such as orange, eucalyptus, corn mint, peppermint, citronella, lemon, lime clover leaf, and spearmint, using distillation methods such as…
Lemongrass Oil market Key Development Trends; Top Players; Young Living™ Essen …
QY Research Groups details out informative data related to the global Lemongrass Oil market which anticipated to garner major market share. This Research Report provides the newest realistic data useful for future worldwide business trend
This report studies the global Lemongrass Oil market status and forecast, categorizes the global Lemongrass Oil market size (value & volume) by manufacturers, type, application, and region. This report focuses on the top manufacturers in North…
Global Essential Oil Market 2017 Forever Living, Essential Oil, Moksha Lifestyle …
Essential Oil Market Research Report
A market study based on the " Essential Oil Market " across the globe, recently added to the repository of Market Research, is titled ‘Global Essential Oil Market 2017’. The research report analyses the historical as well as present performance of the worldwide Essential Oil industry, and makes predictions on the future status of Essential Oil market on the basis of this analysis.
Ask For Sample…
