Press release
Essential Oils Market: Explosive Growth to $37.25 Billion by 2029, Fueled by Wellness and Aromatherapy Trends
Essential Oils Market Size
What Is The Projected Market Size Of The Global Essential Oils Market And Its Growth Rate?
•Current market size is $17.46 billion in 2024, set to grow to $19.79 billion in 2025 at a CAGR of 13.3%.
•Foreseen to skyrocket to $37.25 billion in 2029 at a CAGR of 17.1%.
•Historic period growth due to alternative medicine, aromatherapy trends, natural products demand, and personal care industry growth.
•Forecast period growth driven by self-care trends, home products natural fragrance, expanded beauty markets, ethical practices, and pristine flora exploration.
What Is Driving The Growth In The Essential Oils Market?
The global spa industry's growth, spurred by the increasing popularity of aromatherapy and natural oil products, is chiefly driving the essential oils market. In 2022, the Global Wellness Institute reported that the spa industry boasted over 181,000 establishments, generating a whopping $105 billion revenue. Moreover, this revenue is predicted to supersede pre-pandemic levels by 2023, ballooning to an anticipated $156 billion by 2027. This ascent of the spa industry globally is fueling the essential oils market.
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Who Are the Key Players Driving Essential Oils Market Growth?
•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.
What Are The Key Trends In The Essential Oils Market?
•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
What Are The Segments Of The Global Essential Oils Market?
•By Type: Orange Oil, Lemon Oil, Lime Oil, Peppermint Oil, Cornmint Oil, Citronella Oil, Spearmint Oil, Geranium Oil, Clove Leaf Oil, Eucalyptus Oil
•By Method Of Extraction: Distillation, Carbon Dioxide Extraction, Cold Press Extraction, Solvent Extraction, Other Method Of Extraction
•By Application: Food And Beverage, Aromatherapy, Cosmetics And Toiletries, Pharmaceuticals, Cleaning And Home, Animal Feed, Fragrances
Which Region Leads The Essential Oils Market?
North America dominated the essential oils market in 2024, with Asia-Pacific projected as the fastest-growing region during the forecast period. The report also covers Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Essential Oils Market Global Market Report?
- Market Size Analysis: Analyze the Essential Oils Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Essential Oils Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Essential Oils Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Essential Oils Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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