Essential Oils Market

Essential Oils Market worth $16.0 billion by 2026

The report "Essential Oils Market by Type (Orange, Lemon, Lime, Peppermint, Citronella, and Others), Application (Food & Beverage, Cosmetics & Toiletries, Aromatherapy, Home Care, Health Care), Method of Extraction, and Region – Global Forecast to 2026" The global essential oils market size is estimated to be valued USD 10.3 billion in 2021 and is expected to reach a value of USD 16.0 billion by 2026, growing at a CAGR of 9.3% in terms of value during the forecast period. Factors such as increase in awareness toward preventive healthcare, improvements in the standard of living and rise in double income households, along with increase in demand for aromatherapy are some of the factors driving to the growth of the market for essential oils.

Browse 381 market data Tables and 63 Figures spread through 365 Pages and in-depth TOC on "Essential oils Market by Type (Orange, Lemon, Lime, Peppermint, Citronella, and Others), Application (Food & Beverage, Cosmetics & Toiletries, Aromatherapy, Home Care, Health Care), Method of Extraction, and Region – Global Forecast to 2026"
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The food and beverage segment accounted for the largest segment during the forecast period.

Food & beverages formed the largest application segment in the essential oils market. This could be attributed to the growing trend toward ‘all-natural ingredients,’ as people become more health conscious. They are used in food & beverages for imparting flavor to the final products, as substitutes to synthetic ingredients. As consumers are becoming increasingly aware of the health benefits of essential oils, the preferences for food & beverage products with these oils as additives has increased.

By type, orange oil accounted for the largest segment during the forecast period.

Essential oils can be extracted from over 300 different types of botanical species. The product types considered in this report are orange oil, lemon oil, lime oil, peppermint oil, cornmint oil, citronella oil, spearmint oil, geranium oil, clove leaf oil, eucalyptus oil, jasmine oil, tea tree oil, rosemary oil, and lavender oil. Orange oil is estimated to be the most dominant essential oil, owing to its varied applications. It can be used in the food & beverage industry as a flavoring ingredient, in home care and toiletries applications as a fragrance, and due to its numerous medicinal benefits, it is also useful in aromatherapy and health applications.

By volume, Asia Pacific region to account for highest CAGR during the forecast period.

The Asia Pacific market, consisting of the markets in China, India, Japan, and Australia & New Zealand, is projected to grow at the highest CAGR of 7.0% from 2021 to 2026; this could be attributed to the growing population and higher number of working women, leading to higher disposable incomes within nuclear and joint families. Moreover, it is one of the major essential oil-producing regions; the availability and affordability of these essential oils and the rise in awareness about functionalities, health benefits of essential oils will drive the growth of this market.

The prominent players in this market include Cargill (US), Koninklijke DSM N.V. (Netherlands), Givaudan SA (Switzerland), DuPont (US), Firmenich SA (Switzerland), Sensient Technologies Corporation (US), Symrise (Germany), Lonely Planet Global Inc. (Israel), International Flavors & Fragrances, Inc (US) and dôTERRA International LLC (US).

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Report Code
FB 5385
PR Published ON
3/30/2021
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