Essential Oils Market From 2024-2032: Growth Analysis By Manufacturers, Regions, Types And Applications

essential oils market is experiencing significant growth, fueled by rising consumer demand for natural and organic products

VANCOUVER, BRITISH COLUMBIA, CANADA, July 1, 2024 /EINPresswire.com/ -- The global essential oils market is experiencing significant growth, fueled by rising consumer demand for natural and organic products. According to a recent report by Emergen Research, the market size was valued at USD 8.80 billion in 2022 and is projected to reach USD 27.13 billion by 2032, representing a compound annual growth rate (CAGR) of 11.9%. This press release delves into the key drivers, trends, and opportunities shaping the essential oils market landscape.

Market Overview:

Essential oils are concentrated liquids extracted from botanical sources like flowers, leaves, and fruits. They offer a multitude of benefits, including aromatherapy, stress relief, improved sleep, and potential health properties. The market is segmented by product type (lavender, peppermint, tea tree, etc.), application (aromatherapy, food & beverage, cosmetics & personal care), and region.

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Trends Shaping the Market:

Aromatherapy's Growing Popularity: Aromatherapy, the practice of using essential oils for therapeutic purposes, is witnessing a surge in popularity. This is driven by rising stress levels and the growing preference for natural wellness solutions.

Natural and Organic Focus: Consumers are increasingly opting for natural and organic products, leading to a demand for essential oils derived from sustainable and ethical practices.

Growing Applications: The use of essential oils is expanding beyond aromatherapy into food & beverage, pharmaceuticals, and household cleaning products.

Drivers Fueling Market Growth:

Health and Wellness Concerns: The increasing focus on natural health and well-being is propelling the demand for essential oils perceived to have therapeutic properties.

Rising Disposable Incomes: Growing disposable incomes, particularly in emerging economies, allow consumers to invest in premium essential oil products.

Technological Advancements: Advancements in extraction processes and product development are leading to innovative essential oil applications.

Restraints Hinder Growth:

Quality Concerns: The lack of standardized regulations regarding purity and quality creates challenges for the market.

Potential Side Effects: Essential oils can have side effects if not used properly, requiring consumer education and clear labeling.

Price Volatility: Fluctuations in raw material prices can impact the cost of essential oils.

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Growth Opportunities:

E-commerce Expansion: The growing popularity of online shopping platforms provides a significant opportunity for essential oil brands to reach a wider audience.

Regional Market Expansion: Emerging markets like China and India offer immense potential for growth due to rising disposable incomes and increasing awareness of essential oils.

Product Innovation: Developing innovative essential oil blends for specific needs (e.g., sleep, energy) will attract new customers.

Key Market Insights:

North America is expected to remain the dominant regional market due to the high consumer preference for natural products and established aromatherapy practices.

The demand for organic essential oils is projected to grow at a faster rate compared to conventional varieties.

Lavender, peppermint, and tea tree oil are some of the most popular essential oil varieties globally.

SWOT Analysis:

Strengths:

Natural and organic ingredients

Wide range of applications

Perceived health benefits

Weaknesses:

Quality concerns

Potential side effects

Price volatility

Opportunities:

E-commerce growth

Regional market expansion

Product innovation

Threats:

Synthetic fragrance substitutes

Stringent regulations

Competition from established players

Strategic Developments and M&A Activity:

On 22 May 2023, Young Living announced the release of Season Essentials and Red Cedar Bliss Essential Oil Blends. These innovative blends offer versatile usage options, including oral consumption by mixing 1–2 drops with 1 drop of a carrier oil and placing under the tongue, with a maximum of three daily applications. Red Cedar Bliss combines various essential oils, including the newly introduced Western Red Cedar oil, for a warm and woodsy aroma. This blend not only provides a delightful scent but also offers immune support, making it a valuable addition to the daily routine.

In June 2023, Biolandes SAS announced the debut of its new line of Ecocert Greenlife-certified organic essential oils. The line includes 12 essential oils that are obtained from organic cultivation and processed with steam distillation or cold expression, including lavender, rosemary, eucalyptus, lemon, and peppermint. According to the company, compared to ordinary essential oils, these organic ones offer greater quality, purity, and sustainability.

Major Companies and Competitive Landscape

The global essential oils market is highly fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective essential oils solutions. Some major players included in the global essential oils market report are:

Biolandes SAS

Givaudan

International Flavours and Fragrances Inc.

Symrise

Robertet

DSM

Sensient Technologies Corporation

Cargill, Incorporated

MANE (EN)

doTERRA

NOW Foods

Lebermuth, Inc.

Norex Flavours Private Limited

Sydney Essential Oil Company

Young Living Essential Oils

Phoenix Aromas & Essential Oils

Essential Oils of New Zealand Ltd.

Enio Bonchev

Falcon

Rocky Mountain Oils, LLC

Segments Covered in Report

For the purpose of this report, Emergen Research has segmented the global essential oils market on the basis of type, application, source, distribution channel, method of extraction, and region:

Type Outlook (Revenue, USD Billion; 2019-2032)

Citrus

Orange

Lemon

Grapefruit

Lime

Eucalyptus

Lavender

Rosemary

Tea Tree

Peppermint

Others

Applications Outlook (Revenue, USD Billion; 2019-2032)

Food & beverages

Cosmetics

Aroma therapy

Homecare

Others

Source Outlook (Revenue, USD Billion; 2019-2032)

Fruits & vegetables

Herbs & spices

Flowers

Distribution channel Outlook (Revenue, USD Billion; 2019-2032)

Direct distribution

Multi-Level Marketing (MLM) distribution

Retail distribution

Method of Extraction Outlook (Revenue, USD Billion; 2019-2032)

Distillation

Carbon Dioxide (CO2) extraction

Cold press extraction

Others

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Country scope:

U.S., Canada, Mexico, Germany, U.K., France, Spain, BENELUX, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, Israel, and Rest of MEA

Thank you for reading our report. Please get in touch with us if you have any query regarding the report or its customization. Our team will ensure the report is best suited to your needs.

About Us:

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Eric Lee
Emergen Research
+91 90210 91709
sales@emergenresearch.com
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