The global essential oil market is anticipated to grow at a CAGR of 7.3 % during the forecast period (2022-2028). Essential oil is a liquid that is generally distilled from the stems, seeds, roots, or flowers of a plant. The commonly extracted essential oil plants are lavender, tea tree, orange, lemon, peppermint, and cornmint among others. The extracted oils are antibacterial, antiviral, antifungal, and antimicrobial. These essential oils help to bypass the digestive system easily and are beneficial for people with digestive problems. It is also beneficial for kids and infants as they cannot swallow tablets and capsules. The global essential oil market is growing due to the usage of essential oils in various applications such as flavor & fragrance, aromatherapies, and others. The increasing awareness about the health benefits of essential oil is further boosting the growth of the market.
The increasing use of essential oil in industrial, commercial, and household applications is also driving the global market. The rise in disposable income and rapid urbanization are further boosting the demand for the essential oil market. The changing consumer lifestyle and the increasing expenditure on healthcare are also expected to surge the growth of the market. Additionally, the increasing demand for essential oil as natural preservatives is further expected to support the growth of the essential oil market during forecast period.
Some major players in the market include Biolandes SAS, dōTERRA, FAROTTI SRL, Essential Oils of New Zealand Ltd., H. Reynaud & Fils, MOKSHA LIFESTYLE PRODUCTS, and Sydney Essential Oil Co. among others. The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in June 2021, Bella Vita Organic announced the launch of a wide range of essential oils. Moreover, in October 2020, dōTERRA announced the launch of essential oil products and diffusers, including three new wellness programs designed to help people focus on their specific health goals.
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Market Coverage
- The market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Biolandes SAS, dōTERRA, Farotti Srl, Essential Oils of New Zealand Ltd., H. Reynaud & Fils, Moksha Lifestyle Products, Sydney Essential Oil Co., and others.
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Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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Global Essential Oil Market Report by Segment
By Type
- Citrus
- Eucalyptus
- Lavender
- Rosemary
- Tea Tree
- Others
By Application
- Food & Beverages
- Personal Care & Cosmetics
- Pharmaceuticals
- Others
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