The Essential Oils Market is expected to grow at a CAGR of ~9% during the forecast period 2021-2027
Essential oils are liquid extracts of various potentially beneficial plants. They're made from parts of
certain plants like leaves, seeds, roots, and rinds. Essential oils usually
have a stronger smell than the plants they are extracted from and contain higher levels of active ingredients. Moreover, essential oils hold a prominent place in
traditional and folk medicine around the world because they can benefit the human body in
several ways. They are used in aromatherapy to manage stress and anxiety and they can help in curing fungal infections. Furthermore, essential
oils extracted from different plants have different
characteristics. For instance, Lavender oil’s relaxing fragrance helps in
improving sleep quality, and tea tree oil has antimicrobial qualities. Further on, many
essential oils have antioxidant properties, antioxidants help in preventing
damage to cells caused by free radicals.
According to UnivDatos’ research report “Essential Oils Market”, the market is likely to grow at a CAGR of ~9% during the forecast period. This can be mainly attributed to the rising demand for aromatherapy coupled with the growth in research & development activities.
Based on Application, the market is
categorized into food and beverages, pharmaceuticals, cosmetics & personal care, home care, and
others. The food and beverages segment held the prominent revenue share in 2020
and is expected to grow at a robust CAGR during the forecast period, which can
be accredited to strict government regulations regarding the safety of food and limit on the usage of synthetic
flavors and essence foodstuff. Essential oils are known for their health
benefits, as they are natural ingredients that give the essence of the source
they have been extracted from. They are used in food & beverages for adding
flavor to the final products, and as substitutes for synthetic ingredients. As consumers are
becoming aware of the health benefits of essential oils, the preferences for
food & beverage products with these oils as additives has increased.
Based on the Method of Extraction, the
essential oils market has been divided into distillation, carbon dioxide
extraction, cold press extraction, solvent extraction, and other extraction
methods. Among these, the distillation segment held a prominent share in 2020
and will continue to grow at a steady rate during the forecast period. The
efficiency of the distillation method is expected to drive the growth of this
segment.
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Europe is expected to witness robust growth
For a better
understanding of the market adoption of the essential oils industry, the market
is analyzed based on its worldwide presence in the countries such as North
America (United States, Canada, and the Rest of North America), Europe
(Germany, France, Italy, Spain, United Kingdom and Rest of Europe),
Asia-Pacific (China, Japan, India, South Korea, and Rest of APAC), and Rest of
World. In 2020, Europe accounted for the majority of the shares in
the global essential oils market, and it is expected to grow at a substantial growth rate. This is attributed to the presence of developed end-use
industries and rising awareness about the benefits of essential oils amongst
consumers. The presence of organizations such as the European Federation of
Essential Oils (EFEO) has benefitted the industry growth in Europe. According to EFEO, its aim is to represent producers and
traders of essential oils and related products within Europe. It protects and
promotes their interest and acts in defense of these products at relevant
national, European, and international levels.
According to ‘UnivDatos Market the key Essential Oils Market include Cargill Inc., Firmenich SA, Rocky Mountain Oils LLC, Young Living Essential Oils
LC., Sydney Essential Oil Company, Essential Oils Of New Zealand Ltd., Robertet SA, The Lebermuth Company Inc., Givaudan SA, West India Spices Inc.
“Essential Oils Market” provides
comprehensive qualitative and quantitative insights on the industry potential,
key factors impacting sales and purchase
decisions, hotspots, and opportunities available for the market players.
Moreover, the report also encompasses the key strategic imperatives for success
for competitors along with strategic factorial indexing measuring competitors’ capabilities on
different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for
its offerings.
Market Segmentation:
By Type (Orange, Eucalyptus, Lavender, Peppermint, Citronella, Lemon,
Tea Tree, Clove, Spearmint, and Others)
By Application (Food and Beverages, Pharmaceuticals, Personal Care &
Cosmetics & Personal Care, Home Care, and Others)
By Method of Extraction (Distillation, Carbon Dioxide Extraction, Cold Press
Extraction, Solvent Extraction, and Others)
By Region (North America, Europe, Asia-Pacific, Rest of World)
By Company (Cargill Inc., Firmenich SA, Rocky Mountain Oils LLC, Young Living Essential Oils
LC., Sydney Essential Oil Company, Essential Oils Of New Zealand Ltd., Robertet SA, The Lebermuth Company Inc., Givaudan SA, West India Spices Inc.)
Key questions answered in the study:
What are the current and future trends of the essential oils industry?
How the industry has been evolving in
terms of type, method of extraction, and application category?
How the competition has been shaping
across the countries followed by their comparative factorial indexing?
What are the key growth drivers and challenges for the essential oils industry?
What are the customer
orientation, purchase behavior, and expectations from the essential oils product suppliers across various countries?
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Table of Content –
MARKET INTRODUCTION
RESEARCH METHODOLOGY OR ASSUMPTION
MARKET SYNOPSIS
EXECUTIVE SUMMARY
IMPACT OF COVID-19 ON THE ESSENTIAL OILS MARKET
ESSENTIAL OILS MARKET REVENUE (USD BN), 2019-2027F
MARKET INSIGHTS BY TYPE
MARKET INSIGHTS BY APPLICATION
MARKET INSIGHTS BY METHOD OF EXTRACTION
MARKET INSIGHTS BY REGION
ESSENTIAL OILS MARKET DYNAMICS
ESSENTIAL OILS MARKET OPPORTUNITIES
ESSENTIAL OILS MARKET TRENDS
POLICY AND REGULATORY LANDSCAPE
DEMAND AND SUPPLY SIDE ANALYSIS
VALUE CHAIN ANALYSIS
COMPETITIVE SCENARIO
COMPANY PROFILED
DISCLAIMER
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