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Essential Oils Market Analysis By Type(Orange, Eucalyptus, Cornmint, Peppermint, Citronella, Lemon, Lime, Clove, Spearmint), By Source(Fruits & Vegetables, Herbs & Spices, Flowers), By Method of Extraction(Distillation, Carbon dioxide extraction, Cold press extraction, Solvent extraction), By Application(Food & Beverage Industry, Cosmetics & Personal Care, Home Care & Toiletries, Aromatherapy, Animal Feed, Retail/Households), By Distribution Channel(Direct Selling, Online Sales) & Forecast 2024-2035

  • PUBLISHED ON
  • 1/12/2023
  • NO OF PAGES
  • 285
  • CATEGORY
  • Retails & Consumer

The global essential oils market size was valued at US$ 18.8 billion in 2021 and is expected to hit US$ 30.6 billion by 2030 with a registered CAGR of 7.5% from 2022 to 2030.

Essential oils are liquids that are usually distilled from the stems, leaves, seeds, roots, or flowers of plants. The most commonly used essential oils are lavender, tea tree, orange, lemon, peppermint and corn mint. These oils have antibacterial, antiviral, antifungal and antibacterial properties. They bypass the digestive system easily, which makes them beneficial for those with poor digestion/assimilation. In addition, essential oils are very rich in oxygen and are suitable for infants who cannot swallow tablets or capsules.

Essential oils play an important role in naturally preserving food due to growing concern over synthetic food additives and their long-term adverse effects. Several clinical studies using essential oils at concentrations ranging from 0.5 to 20 microliters per gram have shown antimicrobial effects in foods such as meat products, fish, raw meat, milk, dairy products, and cooked rice. Important synergistic effects have been established by using preservation methods together with such oils. Therefore, further promotion of research and development on the absorption of essential oils as food additives is expected to further boost the essential oils market.

The global food and beverage industry is undergoing a gradual but significant change in ingredient formulation. Due to the increasing consumer preference for natural and organic products, essential oils have become an important choice for food processors. Customer understanding of the adverse health effects of synthetic chemicals added to flavour applications is steadily increasing. Manufacturers are therefore encouraged to use natural inputs to enhance the aesthetic appeal of their foods while enhancing their nutritional and functional properties.

Furthermore, aromatherapy as an essential oil therapy that promotes demand for essential oils. Consumers are becoming more selective in their personal care products and their perceived quality. Therefore, increased spending on research and development of more effective products, processes, services, and technologies is expected to have a positive impact on market growth. Strong growth stimulus in the hospitality and tourism sector has brought the significant benefits of aromatherapy within reach of the general consumer.

Type Insights

The orange oil segment dominated the market for essential oils and accounted for a revenue percentage of 10.5% in 2020. This is attributed to its utilization for enhancing low libido, decreasing PMS-associated fitness problems, and combating high blood pressure as a result of its blood-dialing properties. The high vitamin C content combined with orange oil's antioxidant properties help reduce dark spots and wrinkles, which are major drivers of demand in the personal care industry. Moreover, lemon oil is predicted to witness considerable growth during the forecast period due to its utilization in detergents, perfumes, and soaps and also can be combined in DIY household cleaners. It is also used as a detoxifying agent and disinfectant for treating sore throats and flu.

Application Insights

The food and beverage segment is expected to hold the largest essential oil market share in the coming years. Food and beverages continue to be preferred matrices for incorporating volatile vegetable oils. The addition of essential oils to foods improves the shelf life, shelf stability, and organoleptic properties of various foods. Moreover, growing consumer preference for natural products over synthetic products and increasing demand for high-quality foods are factors driving food and beverage manufacturers to include healthy essential oils in their products. Basil, fennel, lemon, cassia, and peppermint have emerged as the most popular essential oils for food and beverage applications due to their suitability for internal use.

Distribution Channel Insights

The direct sales segment accounted for 48.0% of 2020 sales. The growing public awareness of essential oils has led to an increase in retail sales, especially through convenience stores. However, top companies such as doTerra and Young Living Essential Oils employ multi-level marketing strategies to grow their businesses and boost sales. Furthermore, the online sales segment is expected to experience strong growth during the forecast period. Online sales channels or e-commerce platforms are gaining momentum in the global market. The reason for the growth of online segment is the spread of smartphones and the spread of the Internet. Additionally, benefits such as discounts and free home delivery support the growth of essential oil sales through online sales channels or e-commerce platforms.

Regional Insights

Europe dominated the essential oil market, with the largest sales share in 2020 at 45.2%. The growing demand for essential oils in Europe is due to the existence of developed end-use industries and growing consumer awareness of the benefits of essential oils. The presence of organizations such as the European Essential Oil Federation (EFEO) has spurred the growth of the industry in Europe. EFEO was established to promote and protect the interests of stakeholders across the market value chain. The organization also participates in consultations with the European Commission and Parliament to introduce or amend essential oil legislation. Such trends are favouring the growth of the market in this region.

Asia-Pacific is expected to register the highest CAGR of 8.4% in the essential oil market in the forecast year. This is due to favourable weather conditions for agriculture, cheap labour and sufficient availability of raw materials. Moreover, changing consumer preferences for healthy, nutritious foods and beverages and other foods in China and India are expected to bring lucrative growth opportunities to the global market players in the Asia-Pacific market. Moreover, huge demand for Chinese fragrances, coupled with the presence of a large consumer base in the skincare market, is expected to boost demand for essential oils in Asia Pacific.

Key Companies Insights

Companies focus on modernizing production technology to minimize resource consumption and maximize output. Improving profitability by optimizing the value chain and restructuring business processes are key strategies opted by the manufacturers. Companies are experimenting with crops that have never before been grown in the field to obtain innovative raw materials for developing new solutions. Players such as Taksago International and Robertet Group are observing increased production capacity to meet increased demand from multiple end-use industries. Players are also focused on developing environmentally friendly production processes and investing heavily in research and development activities to reduce pressure on the natural resources from which key ingredients are extracted. Some of the key players operating in the global essential oils market include:

·         Takasago International Corporation

·         Symrise

·         MANE

·         Flavex Naturextrakte GmbH

·         Firmenich SA

·         Synthite Industries Ltd.

·         ROBERTET GROUP

·         International Flavors & Fragrances Inc.

·         Givaudan

·         Falcon

·         Norex Flavours Private Limited

·         BMV Fragrances Pvt. Ltd.

·         VedaOils

·         MOKSHA LIFESTYLE PRODUCTS

·         Ultra International

·         VidyaHerbs

·         Other Players

Segments

By Type

·         Orange

·         Eucalyptus

·         Cornmint

·         Peppermint

·         Citronella

·         Lemon

·         Lime

·         Clove

·         Spearmint

·         Others

By Source

·         Fruits & Vegetables

·         Herbs & Spices

·         Flowers

By Method of Extraction

·         Distillation

·         Carbon dioxide extraction

·         Cold press extraction

·         Solvent extraction

·         Others

By Application

·         Food & Beverage Industry

·         Cosmetics & Personal Care

·         Home Care & Toiletries

·         Aromatherapy

·         Animal Feed

·         Retail/Households

·         Others

By Distribution Channel

·         Direct Selling

·         Online Sales

·         Others


Global Essential Oils Market: Regional Analysis
The countries covered in the regional analysis of the Global Essential Oils market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

Key Benefits:
• The analysis provides an overview of the factors driving and limiting the growth of the market including trends, structure and others.
• Market estimation for type and geographic segments is derived from the current market scenario and expected market trends.
• Porter’s Five Force Model and SWOT analysis are used to study the global Essential Oils market and would help stakeholders make strategic decisions.
• The analysis assists in understanding the strategies adopted by the companies for the growth of this market.
• In-depth analysis of the types of Essential Oils would help in identifying future applications in this market.

Reasons to Purchase this Report:
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support

Objectives of the Study:
• To provide with an exhaustive analysis on the Essential Oils Market by Product, By Application, By End User and by Region.
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions— North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
• To record and evaluate competitive landscape mapping- product launches, technological advancements, mergers and expansions
Base Year: 2023
Historic Year: 2016-2022
Forecast: 2024-2035
1 Report Overview
1.1 Study Scope
1.2 Key Market Segments
1.3 Players Covered: Ranking by Essential Oils Revenue
1.4 Market Analysis by Type
1.4.1 Global Essential Oils Market Size Growth Rate by Type: 2023 VS 2032
1.4.2 Compound Essential Oil
1.4.3 Unilateral Essential Oil
1.5 Market by Application
1.5.1 Global Essential Oils Market Share by Application: 2023-2032
1.5.2 Beauty Agencies
1.5.3 Personalcare
1.6 Study Objectives
1.7 Years Considered
1.8 Overview of Global Essential Oils Market
1.8.1 Global Essential Oils Market Status and Outlook (2017-2032)
1.8.2 North America
1.8.3 East Asia
1.8.4 Europe
1.8.5 South Asia
1.8.6 Southeast Asia
1.8.7 Middle East
1.8.8 Africa
1.8.9 Oceania
1.8.10 South America
1.8.11 Rest of the World
2 Market Competition by Manufacturers
2.1 Global Essential Oils Production Capacity Market Share by Manufacturers (2017-2022)
2.2 Global Essential Oils Revenue Market Share by Manufacturers (2017-2022)
2.3 Global Essential Oils Average Price by Manufacturers (2017-2022)
2.4 Manufacturers Essential Oils Production Sites, Area Served, Product Type
3 Sales by Region
3.1 Global Essential Oils Sales Volume Market Share by Region (2017-2022)
3.2 Global Essential Oils Sales Revenue Market Share by Region (2017-2022)
3.3 North America Essential Oils Sales Volume
3.3.1 North America Essential Oils Sales Volume Growth Rate (2017-2022)
3.3.2 North America Essential Oils Sales Volume Capacity, Revenue, Price and Gross Margin (2017-2022)
3.4 East Asia Essential Oils Sales Volume
3.4.1 East Asia Essential Oils Sales Volume Growth Rate (2017-2022)
3.4.2 East Asia Essential Oils Sales Volume Capacity, Revenue, Price and Gross Margin (2017-2022)
3.5 Europe Essential Oils Sales Volume (2017-2022)
3.5.1 Europe Essential Oils Sales Volume Growth Rate (2017-2022)
3.5.2 Europe Essential Oils Sales Volume Capacity, Revenue, Price and Gross Margin (2017-2022)
3.6 South Asia Essential Oils Sales Volume (2017-2022)
3.6.1 South Asia Essential Oils Sales Volume Growth Rate (2017-2022)
3.6.2 South Asia Essential Oils Sales Volume Capacity, Revenue, Price and Gross Margin (2017-2022)
3.7 Southeast Asia Essential Oils Sales Volume (2017-2022)
3.7.1 Southeast Asia Essential Oils Sales Volume Growth Rate (2017-2022)
3.7.2 Southeast Asia Essential Oils Sales Volume Capacity, Revenue, Price and Gross Margin (2017-2022)
3.8 Middle East Essential Oils Sales Volume (2017-2022)
3.8.1 Middle East Essential Oils Sales Volume Growth Rate (2017-2022)
3.8.2 Middle East Essential Oils Sales Volume Capacity, Revenue, Price and Gross Margin (2017-2022)
3.9 Africa Essential Oils Sales Volume (2017-2022)
3.9.1 Africa Essential Oils Sales Volume Growth Rate (2017-2022)
3.9.2 Africa Essential Oils Sales Volume Capacity, Revenue, Price and Gross Margin (2017-2022)
3.10 Oceania Essential Oils Sales Volume (2017-2022)
3.10.1 Oceania Essential Oils Sales Volume Growth Rate (2017-2022)
3.10.2 Oceania Essential Oils Sales Volume Capacity, Revenue, Price and Gross Margin (2017-2022)
3.11 South America Essential Oils Sales Volume (2017-2022)
3.11.1 South America Essential Oils Sales Volume Growth Rate (2017-2022)
3.11.2 South America Essential Oils Sales Volume Capacity, Revenue, Price and Gross Margin (2017-2022)
3.12 Rest of the World Essential Oils Sales Volume (2017-2022)
3.12.1 Rest of the World Essential Oils Sales Volume Growth Rate (2017-2022)
3.12.2 Rest of the World Essential Oils Sales Volume Capacity, Revenue, Price and Gross Margin (2017-2022)
4 North America
4.1 North America Essential Oils Consumption by Countries
4.2 United States
4.3 Canada
4.4 Mexico
5 East Asia
5.1 East Asia Essential Oils Consumption by Countries
5.2 China
5.3 Japan
5.4 South Korea
6 Europe
6.1 Europe Essential Oils Consumption by Countries
6.2 Germany
6.3 United Kingdom
6.4 France
6.5 Italy
6.6 Russia
6.7 Spain
6.8 Netherlands
6.9 Switzerland
6.10 Poland
7 South Asia
7.1 South Asia Essential Oils Consumption by Countries
7.2 India
7.3 Pakistan
7.4 Bangladesh
8 Southeast Asia
8.1 Southeast Asia Essential Oils Consumption by Countries
8.2 Indonesia
8.3 Thailand
8.4 Singapore
8.5 Malaysia
8.6 Philippines
8.7 Vietnam
8.8 Myanmar
9 Middle East
9.1 Middle East Essential Oils Consumption by Countries
9.2 Turkey
9.3 Saudi Arabia
9.4 Iran
9.5 United Arab Emirates
9.6 Israel
9.7 Iraq
9.8 Qatar
9.9 Kuwait
9.10 Oman
10 Africa
10.1 Africa Essential Oils Consumption by Countries
10.2 Nigeria
10.3 South Africa
10.4 Egypt
10.5 Algeria
10.6 Morocco
11 Oceania
11.1 Oceania Essential Oils Consumption by Countries
11.2 Australia
11.3 New Zealand
12 South America
12.1 South America Essential Oils Consumption by Countries
12.2 Brazil
12.3 Argentina
12.4 Columbia
12.5 Chile
12.6 Venezuela
12.7 Peru
12.8 Puerto Rico
12.9 Ecuador
13 Rest of the World
13.1 Rest of the World Essential Oils Consumption by Countries
13.2 Kazakhstan
14 Sales Volume, Sales Revenue, Sales Price Trend by Type
14.1 Global Essential Oils Sales Volume Market Share by Type (2017-2022)
14.2 Global Essential Oils Sales Revenue Market Share by Type (2017-2022)
14.3 Global Essential Oils Sales Price by Type (2017-2022)
15 Consumption Analysis by Application
15.1 Global Essential Oils Consumption Volume by Application (2017-2022)
15.2 Global Essential Oils Consumption Value by Application (2017-2022)
16 Company Profiles and Key Figures in Essential Oils Business
16.1 Young Living
16.1.1 Young Living Company Profile
16.1.2 Young Living Essential Oils Product Specification
16.1.3 Young Living Essential Oils Production Capacity, Revenue, Price and Gross Margin (2017-2022)
16.2 DoTERRA
16.2.1 DoTERRA Company Profile
16.2.2 DoTERRA Essential Oils Product Specification
16.2.3 DoTERRA Essential Oils Production Capacity, Revenue, Price and Gross Margin (2017-2022)
16.3 Edens Garden
16.3.1 Edens Garden Company Profile
16.3.2 Edens Garden Essential Oils Product Specification
16.3.3 Edens Garden Essential Oils Production Capacity, Revenue, Price and Gross Margin (2017-2022)
16.4 Radha Beauty
16.4.1 Radha Beauty Company Profile
16.4.2 Radha Beauty Essential Oils Product Specification
16.4.3 Radha Beauty Essential Oils Production Capacity, Revenue, Price and Gross Margin (2017-2022)
16.5 Majestic Pure
16.5.1 Majestic Pure Company Profile
16.5.2 Majestic Pure Essential Oils Product Specification
16.5.3 Majestic Pure Essential Oils Production Capacity, Revenue, Price and Gross Margin (2017-2022)
16.6 Now Foods
16.6.1 Now Foods Company Profile
16.6.2 Now Foods Essential Oils Product Specification
16.6.3 Now Foods Essential Oils Production Capacity, Revenue, Price and Gross Margin (2017-2022)
16.7 ArtNaturals
16.7.1 ArtNaturals Company Profile
16.7.2 ArtNaturals Essential Oils Product Specification
16.7.3 ArtNaturals Essential Oils Production Capacity, Revenue, Price and Gross Margin (2017-2022)
16.8 Healing Solutions
16.8.1 Healing Solutions Company Profile
16.8.2 Healing Solutions Essential Oils Product Specification
16.8.3 Healing Solutions Essential Oils Production Capacity, Revenue, Price and Gross Margin (2017-2022)
16.9 Rocky Mountain
16.9.1 Rocky Mountain Company Profile
16.9.2 Rocky Mountain Essential Oils Product Specification
16.9.3 Rocky Mountain Essential Oils Production Capacity, Revenue, Price and Gross Margin (2017-2022)
16.10 Plant Therapy
16.10.1 Plant Therapy Company Profile
16.10.2 Plant Therapy Essential Oils Product Specification
16.10.3 Plant Therapy Essential Oils Production Capacity, Revenue, Price and Gross Margin (2017-2022)
16.11 Mountain Rose Herbs
16.11.1 Mountain Rose Herbs Company Profile
16.11.2 Mountain Rose Herbs Essential Oils Product Specification
16.11.3 Mountain Rose Herbs Essential Oils Production Capacity, Revenue, Price and Gross Margin (2017-2022)
17 Essential Oils Manufacturing Cost Analysis
17.1 Essential Oils Key Raw Materials Analysis
17.1.1 Key Raw Materials
17.2 Proportion of Manufacturing Cost Structure
17.3 Manufacturing Process Analysis of Essential Oils
17.4 Essential Oils Industrial Chain Analysis
18 Marketing Channel, Distributors and Customers
18.1 Marketing Channel
18.2 Essential Oils Distributors List
18.3 Essential Oils Customers
19 Market Dynamics
19.1 Market Trends
19.2 Opportunities and Drivers
19.3 Challenges
19.4 Porter's Five Forces Analysis
20 Production and Supply Forecast
20.1 Global Forecasted Production of Essential Oils (2023-2032)
20.2 Global Forecasted Revenue of Essential Oils (2023-2032)
20.3 Global Forecasted Price of Essential Oils (2017-2032)
20.4 Global Forecasted Production of Essential Oils by Region (2023-2032)
20.4.1 North America Essential Oils Production, Revenue Forecast (2023-2032)
20.4.2 East Asia Essential Oils Production, Revenue Forecast (2023-2032)
20.4.3 Europe Essential Oils Production, Revenue Forecast (2023-2032)
20.4.4 South Asia Essential Oils Production, Revenue Forecast (2023-2032)
20.4.5 Southeast Asia Essential Oils Production, Revenue Forecast (2023-2032)
20.4.6 Middle East Essential Oils Production, Revenue Forecast (2023-2032)
20.4.7 Africa Essential Oils Production, Revenue Forecast (2023-2032)
20.4.8 Oceania Essential Oils Production, Revenue Forecast (2023-2032)
20.4.9 South America Essential Oils Production, Revenue Forecast (2023-2032)
20.4.10 Rest of the World Essential Oils Production, Revenue Forecast (2023-2032)
20.5 Forecast by Type and by Application (2023-2032)
20.5.1 Global Sales Volume, Sales Revenue and Sales Price Forecast by Type (2023-2032)
20.5.2 Global Forecasted Consumption of Essential Oils by Application (2023-2032)
21 Consumption and Demand Forecast
21.1 North America Forecasted Consumption of Essential Oils by Country
21.2 East Asia Market Forecasted Consumption of Essential Oils by Country
21.3 Europe Market Forecasted Consumption of Essential Oils by Countriy
21.4 South Asia Forecasted Consumption of Essential Oils by Country
21.5 Southeast Asia Forecasted Consumption of Essential Oils by Country
21.6 Middle East Forecasted Consumption of Essential Oils by Country
21.7 Africa Forecasted Consumption of Essential Oils by Country
21.8 Oceania Forecasted Consumption of Essential Oils by Country
21.9 South America Forecasted Consumption of Essential Oils by Country
21.10 Rest of the world Forecasted Consumption of Essential Oils by Country
22 Research Findings and Conclusion
23 Methodology and Data Source
23.1 Methodology/Research Approach
23.1.1 Research Programs/Design
23.1.2 Market Size Estimation
23.1.3 Market Breakdown and Data Triangulation
23.2 Data Source
23.2.1 Secondary Sources
23.2.2 Primary Sources
23.3 Disclaimer

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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached Straits Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

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In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2028.


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