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Market Overview of Global Essential Oils market:
According to our latest research, the global Essential Oils market looks promising in the next 5 years. As of 2022, the global Essential Oils market was estimated at USD XX million, and it's anticipated to reach USD XX million in 2028, with a CAGR of XX% during the forecast years.
Essential oils are concentrated plant extracts. They are made by mechanically pressing or distilling various parts of the plant (flowers, bark, leaves, or fruit) to capture the aroma-producing compounds. It may take several pounds of plants to produce a bottle of essential oil. Each essential oil has a unique chemical composition, and this variation can affect smell, absorption, and effect on the body. The most common way to use essential oils is by inhalation, but they can also be diluted and applied directly to the skin. The cosmetic industry uses essential oils to create fragrances, scent face creams, and body washes and certain beauty care products use essential oils as a source of natural antioxidants. Many natural medicine practitioners, such as aromatherapists, use essential oils for stress relief.
Surging demand for essential oil products
Despite the negative impact of the COVID-19 pandemic on several industries, the essential oils market has grown during this period. Essential oils have antimicrobial, antioxidant, and anti-infective properties and can be used to treat a variety of health conditions, such as stress, immune disorders, sleep disorders, and depression. In the chaotic situation of the epidemic, people are gradually incorporating essential oils into their daily life to boost their immune system and achieve a healthy and calm state of mind. The pandemic has increased global awareness of improving the human immune system. Along with healthy eating and regular exercise, a healthy and calm mind can also boost immunity, including aromatherapy. This is in line with the growing awareness of holistic medicine and the utilization of organic products. Demand for products with aromatherapeutic and antibacterial and antiviral potential, such as tea tree oil, peppermint oil, and eucalyptus oil, has increased during the pandemic. Sales of products from well-known companies like doTERRA and Young Living Essential Oils are growing. Therefore, market players in this industry are focusing on improving their production and supply strategies to meet the rising demand for products and enhance their marketing strategies. Manufacturers are also looking to digital to meet consumer demands during the pandemic. Personalized essential oils could help people regain their sense of smell lost to COVID-19, according to a new Mayo Clinic study. The process, known as olfactory training, involves regularly sniffing the oils to send scent messages to the nerves of the brain. Hence, the increased importance of the essential oils market during the pandemic as the number of patients with mental health issues increased, driving the growth of the market.
Own advantages
Essential oils have many benefits. There are more than 90 types of essential oils in common use, each with its unique smell and potential health benefits. First, essential oils have a long shelf life. It will not oxidize or turn sour, nor will it degrade when subjected to heat and pressure. It is used in a variety of skincare products, including moisturizers, facial cleansers, scar and stretch mark minimizers, and anti-acne gels, as well as hair care products, including conditioners and hair growth serums. Essential oils are gaining popularity as natural additives and flavoring agents for preserving food. It is also used to make chemical preservatives, insect repellants, edible film coatings, and odorants in paints and cleaners. Rising demand for paraben-free products with longer shelf life is expected to expand the use of essential oils for improved quality and safety. Second, many essential oils have antioxidant properties. Antioxidants help prevent free radical damage to cells. Applying peppermint oil to the head and around the temples may help relieve headaches. Peppermint and ginger essential oils are commonly used to relieve digestive discomfort, including nausea. The antibacterial properties of tea tree oil can be used to treat fungal infections such as athlete's foot, oral thrush, and candida. The relaxing scent of lavender oil is thought to improve sleep quality. Additionally, inhaling the aroma of essential oils can stimulate the limbic system area, the part of the brain that plays a role in mood, behavior, sense of smell, and long-term memory. The limbic system is heavily involved in memory formation, so familiar smells can trigger memories or emotions. Therefore, as the benefits of essential oils are known to more and more people, the essential oil industry is in a trend of rapid development.
People are increasingly turning to aromatherapy
Aromatherapy, the practice of using essential oils for therapeutic effects, has been used for centuries. Customers in modern society have become more discerning about the use of personal care products. Aromatherapy is gaining popularity across the globe and its growing demand is attributed to the growth in the hospitality industry, coupled with consumer preference for natural aromatherapy products and fine fragrances. A sedentary lifestyle leads to high stress and increased anxiety levels. Robust growth in the hospitality and tourism industry coupled with rising disposable income has enabled the average consumer to enjoy greater benefits of aromatherapy. With the growing popularity of aromatherapy and other alternative medicines, many masseuses use essential oils for added relaxation during massage. The wellness industry has begun incorporating essential oils into aromatherapy applications to treat Alzheimer's, bronchitis, and various cardiovascular conditions. The fragrance industry is also transforming from classic fragrances to the healthcare industry. Beauty and skin care products are merging with the health industry, and aromatherapy is becoming an important part of fragrance, beauty, and health. Moreover, increasing usage of natural active ingredients in pharmaceutical and cosmetic formulations is further driving the essential oils market. Brazil is the world's leading producer of oranges, accounting for about 30% of the world's total. 94% of the country's orange production is concentrated in the state of São Paulo. Vibrant orange oil is one of the most widely used options in aromatherapy. This essential oil can relieve various pains such as inflammation, muscle spasms, tissue damage, pain from broken bones, headaches, etc. Ginger oil, pine oil, oregano oil, and oil of wintergreen are some of the essential oils used in abundance in aromatherapy. Professional aromatherapists are very knowledgeable about the healing properties of essential oils and how they interact with the body's chemistry. They then use this information to help create a personalized blend based on individual needs and preferences. As a result, consumers opt for aromatherapy to positively impact health and well-being, and there is an increasing demand for essential oils.
Insufficient supply of raw materials
Making essential oils requires a lot of plant material, which can make some of them expensive. For example, about 250 pounds of lavender flowers make 1 pound of lavender essential oil. Approximately 5,000 lbs of rose petals or lemon balm make 1 lb of rose or lemon balm essential oil. Essential oils such as rose, sandalwood, and German chamomile, which are widely used in aromatherapy, are expensive due to the difficult extraction process. Because these oils are not secreted by the plant but are stored in tiny cavities or vessels inside the plant. For example, bay leaves can be expected to provide a 3% yield during distillation, while rose petals typically only provide a 0.006% yield. Weather can also greatly affect the amount of oil a plant produces each year. Much of the world's forests are currently cleared to extract tiny amounts of oil. Some arable land is also converted to monoculture fields to grow a single plant or crop to extract a specific oil. The production of these crops and plants is undertaken by large multinational corporations, which tend to disregard the environment and endanger numerous ecosystems. As a result, it has become increasingly difficult to grow enough plants to produce essential oils. Governments imposing new environmental regulations can also force producers to close operations, with an immediate drop in output as a result. As the plant became harder to find, essential oils were adulterated to meet demand. Sandalwood, for example, has become one of the hardest essential oils to find, and it is also the most adulterated oil on the market. Hence, the declining availability of aromatic plants poses a risk to the growth of the essential oils market. In the context of constrained supply and strong and growing demand, it is bound to cause prices to skyrocket, which may hinder the orderly development of the essential oil industry.
Company Overview:
The major players operating in the Essential Oils market include Givaudan, Duas Rodas, IFF, Firmenich, Symrise, etc. Among which, Givaudan ranked top in terms of sales and revenue in 2023.
Givaudan
As one of the world's industry leaders, Givaudan has launched disruptive innovations in food and beverages and inspired creativity in fragrance and beauty. The company has a long history of innovating aroma and taste. From your favorite beverage to your everyday meals, from luxury fragrances to cosmetics and toiletries, Givaudan products inspire the senses and delight the senses of millions of users around the world.
Duas Rodas
Largest flavor house in Brazil, we are national leaders in the manufacture of flavors and ingredients for the global food and beverage industry. Multinational with Brazilian origin and pioneering in the extraction of essential oils in Brazil, we have deep knowledge about the culture, trends, and habits of the Latin American co
Segmentation Overview:
By type, Orange Oil segment accounted for the largest share of market in 2022.
Application Overview:
By application, the Aromatherapy segment occupied the biggest share from 2018 to 2022.
This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global Essential Oils market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.
Key Takeaways from the Global Essential Oils Market Report:
Market Size Estimates: Essential Oils market size estimation in terms of value and sales volume from 2018-2028
Market Trends and Dynamics: Essential Oils market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Essential Oils market
Segment Market Analysis: Essential Oils market value and sales volume by type and by application from 2018-2028
Regional Market Analysis: Essential Oils market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the Essential Oils Market: Revenue and sales volume of major countries in each region
Essential Oils Market Competitive Landscape and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile and application, etc.
Trade Flow: Import and export volume of the Essential Oils market in major regions.
Essential Oils Industry Value Chain: Essential Oils market raw materials & suppliers, manufacturing process, distributors, downstream customers
Essential Oils Industry News, Policies & Regulations
Key players in the global Essential Oils market are covered in Chapter 12:
Robertet
Grupo Petite Marie
NELIXIA
Cisol do Brasil
Dierberger
Plantus
IFF
BioCitrus
Givaudan
Firmenich
Louis Dreyfus Company
Kaapi Ingredients
Agroterenas
Duas Rodas
Symrise
In Chapter 2 and Chapter 15.1, based on types, the Essential Oils market from 2018 to 2028 is primarily split into:
Orange Oil
Lemon Oil
Lime Oil
Peppermint Oil
Other
In Chapter 3 and Chapter 15.2, based on applications, the Essential Oils market from 2018 to 2028 covers:
Food & Beverages
Cosmetics & Toiletries
Aromatherapy
Feed
Pet
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 7, 8, 9, 10, 11, 15.3, 15.4:
North America (Covered in Chapter 7)
United States
Canada
Asia-Pacific (Covered in Chapter 8)
China
Japan
India
South Korea
Southeast Asia
Australia
Others
Europe (Covered in Chapter 9)
Germany
France
UK
Italy
Spain
Russia
Poland
Others
Latin America (Covered in Chapter 10)
Mexico
Brazil
Argentina
Others
Middle East and Africa (Covered in Chapter 11)
GCC Countries
Africa
Others
The data of this research report is mainly obtained from industry associations, magazines, press releases, national customs, annual reports of enterprises, expert interviews, paid databases and other channels with authority. It also provides scientific forecasts of the industry's core development indicators through professional analysis and forecasting models.
In short, whatever role you take in this industry value chain, this report will help you or your company to acquire a systematic and in-depth understanding of the industry.
Chapter Outline
This report consists of 16 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 starts the report with an overview of the Essential Oils market, as well as the definitions of the target market and the subdivisions. Through the presented global market size, regional market sizes, and segment market shares, you will be able to draw an overall and comprehensive picture of the market situation. Meanwhile, the research method and data source will be shared in this chapter.
Chapter 2 and Chapter 3 breaks down the market by different types and applications, with historic data presented in metrics of sales volume, revenue, market share and growth rate.
Chapter 4 elaborates on market dynamics and future trends in the industry, which contains an in-depth analysis of market drivers, opportunities, challenges, and risks. Other essential factors that will have a major impact on the market, i.e., industry news and policies in recent years, global inflation, and regional conflict, are also taken into consideration.
Chapter 5 compares the sales volume and revenue of the major regions across the globe, which enables the readers to understand the regional competitive pattern.
Chapter 6 is the analysis of the trade flow. Import volume and export volume are revealed on a regional level.
Chapters 7-11 focus on country-level studies. Data from the major countries in each region are provided, showing the current development of the industry in different countries. Besides, you will also find qualitative trends analysis under global inflation under each of the 6 regions.
Chapter 12 first up presents the competitive landscape by displaying and comparing the revenues, sales volumes, and market shares of the top players in the market, followed by a company-by-company analysis of all the major market participants with introductions of their products, product applications, company profiles, and business overview. In addition, their competitiveness is manifested through numbers of sales volume, revenue, price, gross and gross margin.
Chapter 13 looks into the whole market industrial chain, ranging from the upstream key raw materials and their suppliers to midstream distributors and downstream customers, with influences of global inflation taken into consideration.
Chapter 14 is perfect for those who wish to develop new projects in the industry. This chapter sheds a light on industry entry barriers and gives suggestions on new project investments.
Chapter 15 forecasts the future trend of the market from the perspective of different types, applications, and major regions.
Chapter 16 is the conclusion of the report which helps the readers sum up the main findings and insights.
Years considered for this report:
Historical Years: 2018-2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2028