Market Overview:

The global Essential Oil Market is forecast to reach $22.8 billion by 2030, growing at a CAGR of 10.2% from 2024 to 2030. Essential oils, renowned for their aromatic properties and versatile applications, are witnessing significant demand in industries such as food and beverage, cosmetics, pharmaceuticals, and aromatherapy. Growing consumer preference for natural and organic products, as well as the increasing awareness of the health benefits associated with essential oils, are driving this expansion.

Europe Dominates the Market:

In 2023, Europe dominated the essential oil market, benefiting from high demand in the food and beverage sector as well as in personal care and aromatherapy. The region’s established infrastructure and strong consumer base for natural wellness products have supported this growth.

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Scope of the Report: 

      Report Metric

                          Details

Base Year Considered

2023

Forecast Period

2024–2030

CAGR

10.2%

Market Size in 2030

$22.8 billion

Segments Covered

By Type, By Product, By Application, By Extraction Method, By distribution Channel, and By Region


Geographies Covered

North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and the Rest of Asia-Pacific), South America (Brazil, Argentina, Colombia, Chile and Rest of South America), Rest of the World (Middle East and Africa).



Key Market Players

  1. Young Living Essential Oil

  2. doTERRA International

  3. Biolandes

  4. Farotti Essenze Srl

  5. Sensient Technologies Corporation 

  6. The Lebermuth Company

  7. NOW Foods

  8. Mane Kancor Ingredients Pvt Ltd

  9. Robertet Group

  10. Norex Flavours Private Limited

 


Recent Developments:
  • In August 2023, Botanical Innovations launched Botanical’s Breath Microencapsulated Essential Oil powders for nutraceutical applications, offering sustained release for enhanced sensory experiences.
  • In October 2022, doTERRA introduced a new range of products including Helichrysum touch, LaLuz Diffuser, and On Guard Hand Wipes, combining pure essential oils, sustainability, and evidence-based research.
  • In September 2022, doTERRA announced the launch of several new products, including eucalyptus, guaiac wood, and Spanish sage, aimed at expanding their essential oil offerings for wellness.

Essential Oil Market: Competitive Landscape
The Essential Oil market is competitive, with key players focusing on product innovation, strategic partnerships, and geographical expansion. Major companies include: Young Living Essential Oil, doTERRA International, Biolandes, Farotti Essenze Srl, Sensient Technologies Corporation, The Lebermuth Company, NOW Foods, Mane Kancor Ingredients Pvt Ltd, Robertet Group, Norex Flavours Private Limited.

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