Global Essential Oil Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2023

The global essential oil market is expected to increase from USD 6.9 billion in 2016 to USD 12.9 billion in 2023, at a CAGR of 8.1% from 2017 to 2023. The growth in the essential oil market is attributed to the growing demand for natural and organic products coupled with favourable government regulations. Moreover, expanding applications of essential oils in medical therapy is also driving the growth in the global essential oil market. The years used for the assessment are as follows;

Historical year: 2015
Base year : 2016
Forecast period : 2017 – 2023
RESEARCH METHODOLOGY

The research and analysis is based on the data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are;

Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, surveys, and other secondary sources
Interacting with key opinion leaders of the market and developing data points based on interaction with them
Study of past trends in the market and their year on year Impact on the market size and share.
Analyzing the collected data points
Bridging the data points to calculate the total essential oil market and its various segments
Anticipating potential risks
Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the global essential oil market
Finalizing the overall size and share of the global essential oil market
OBJECTIVES:

To classify global essential oil market into segments on the basis of product type, application, and analyze their growth prospects individually
To analyze market trends, opportunities, drivers, and restraints associated with the global essential oil market
Profiling key companies operating in the global essential oil market
To study market response with respect to the mergers and acquisitions in the industry
MARKET SCOPE

The research scope for essential oil market is as follows:

By Product Type

Orange
Pepper Mint
Eucalyptus
Lemon
Corn Mint
Clove Leaf
Spearmint
Citronella
Jojoba
Lime
Others
By Application

Food & Beverage
Medical
Spa & Relaxation
Cleaning & Home
Others
By Region

North America
Europe
Asia-Pacific
South America
Middle East & Africa(MEA)

The essential oil is referred as an ethereal oil or volatile oil and has volatile aroma from plants. The essential oil is obtained by distillation of leaves, stems, fruits, flowers, seeds, roots, and other parts of the plant. The oil is sourced from a variety of herbs and plants including orange, peppermint, corn mint, lemon, eucalyptus, and others. Essential oils find its usage in vast applications including perfumes, soap, cosmetics, and household cleaning products on account of superior antiseptic and antibiotic properties.
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