Essential Oils Market Expected to Surge with a CAGR of 8.8% by 2030

The Global Essential Oils Market is estimated to grow at a CAGR of around 8.8% during the forecast period, i.e., 2024-30, cites MarkNtel Advisors in the recent research report. As consumers' interest in health and well-being continues to grow, there's a noticeable surge in essential oil sales due to the positive perception of aromatherapy on a broader scale. Leading essential oils companies are adopting various sales strategies, such as multi-level marketing, to broaden their customer base and business reach globally. While these oils are sold extensively through retail outlets, companies are also emphasizing their availability through e-commerce platforms, offering customers convenient access along with discounts & promotions.

Moreover, the increasing belief in the healing benefits of essential oils, coupled with their expanding use across diverse industries like personal care, healthcare, and cosmetics, is driving market growth. The global production & consumption of essential oils are consistently rising, and they are gaining significant traction for household, commercial, and industrial applications. Furthermore, research indicates that essential oils are playing a vital role in naturally preserving foods, displaying antibacterial activities in various food items such as meat, fish, cooked rice, milk, and dairy products.

Additionally, the growing consumer interest in organic products has led to the increased usage of essential oils in the food & beverage industry. Food manufacturers are employing these oils to enhance the aesthetics, nutritional value, and functional properties of their products. Hence, this shift from synthetic to natural alternatives aligns with the rising preference for natural & organic products across industries, significantly influencing the expansion of the market, further states the research report, “Global Essential Oils Market Analysis, 2024.”

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Essential Oils Market Segmentation Analysis

By Type

Citrus
Tea Tree
Lavender
Eucalyptus
Rosemary
Others (Chamomile, Peppermint, etc.)

By Application

Aromatherapy
Food & Beverages
Healthcare
Personal Care & Cosmetics

With Versatile Applications, Citrus Oils to Dominate the Essential Oils Industry

Based on Type, the market is bifurcated into Citrus, Tea Tree, Lavender, Eucalyptus, Rosemary, and Others (Chamomile, Peppermint, etc.). Of them, Citrus essential oils are anticipated to capture the potential share of the Essential Oils Market. Citrus Essential Oils, renowned for their nutrient-rich composition & antioxidant properties, have gained global traction due to their numerous benefits. These oils are recognized for their capacity to bolster the immune system, alleviate stress, and serve various purposes such as air purification, mood enhancement, anxiety relief, and the eradication of airborne bacteria & viruses.

The surge in sales of Citrus Essential Oils worldwide is notably driven by the popularity of oils like orange & lemon. Furthermore, these oils contribute to combating feelings of apathy, depression, and mental fatigue when diffused into the air. Hence, this heightened consumer awareness of the diverse benefits associated with these oils is a significant catalyst propelling the overall growth of the Global Essential Oil Market.

By Region

North America
South America
Europe
Middle East & Africa
Asia-Pacific

Europe to Lead the Essential Oils Market

Europe is predicted to account for the largest share of the Essential Oils Market in the forecast years. With the mounting usage of essential oils by the leading companies in the personal care & cosmetics sector in their product offerings to cater to the rising consumer requirements for plant-based cosmetics, coupled with the growing awareness among consumers about the benefits of ethereal oils, i.e., leading to their increasing interests in aromatherapy across countries like the UK, France, & Germany, are driving the regional market.

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Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Aura Cacia, doTERRA, DuPont, Givaudan, NOW Essential Oils, Plant Therapy, Rocky Mountain Oils, LLC, Sydney Essential Oil Co., The Lebermuth Company, Young Living, and others, are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
What are the trends influencing the current scenario of the Global Essential Oils Market?
What key factors would propel and impede the industry across the region?
How has the industry been evolving in terms of geography & product adoption?
How has the competition been shaping across various countries?
How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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