The global essential oils market demand is expected to reach 473.31 kilotons by 2027, according to a new report by Grand View Research, Inc., registering a CAGR of 7.5% from 2020 to 2027. Aromatherapy is rapidly gaining momentum as a convenient method of healing lifestyle diseases, which is contributing to the demand for essential oils. It is also important to notice that sales are closely related to consumer education-the more consumers are informed regarding applications and usage of essential oils, greater is the sales.
Essential oils are majorly composed of terpenes and their oxygenated derivatives, which usually include monoterpenes and sesquiterpenes. They are present in specialized cells/glands in various plants and the position of these glands varies depending upon the morphology and physiology of the plant. During manufacturing process, these glands are ruptured by pressing or by application of heat, which emanates aroma. The product is composed of aromatic compounds, which are volatile as well as hydrophobic in nature.
A majority of the consumers demand essential oils for various purposes, such as for enhancing air freshness at home by adding drops in aroma pots or aroma diffusers, which diffuse oil in the form of atomized particles, and in aroma bath by adding oils to the water. Young women use these products for making homemade cosmetics owing to their natural content and medicinal benefits.
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Rising demand for organic products is another factor influencing consumer trends. Further implementation of regulations favoring the use of environmentally friendly ingredients in cosmetics and food and beverage industry has awakened people's interest to seek products made from natural ingredients. The industry has witnessed a sharp increase in demand for 100% plant-based products that are devoid of synthetic fragrances and animal-derived components. As a result, majority of the population is turning to organic products to gain health benefits.
Owing to the outbreak of coronavirus around the world, many of the countries are observing lockdown situations. This is expected to lead to major raw material shortages, disruption in supply chain, and increased prices of highly demanded products in the next two to three quarters. Moreover, restrictions on imports and exports of goods by any means from most of the South East Asian countries can worsen the situation in the coming months. However, on the brighter side, the temporary closure or slowing down of manufacturing plants of synthetic flavors and fragrances in China can be seen as an opportunity to the essential oil distillers as the manufacturers may turn to the smaller vendors to fulfil their raw material requirements.
Essential Oils Market Report Highlights
• In terms of revenue, the orange oil product segment is expected to expand at a CAGR of 7.4% over the forecast period
• In 2019, food and beverages application emerged as the second largest application segment with a share of 38.6% in terms of volume
• Asia Pacific is projected to witness the fastest growth over the forecast period.
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Essential Oils Market Segmentation
Grand View Research has segmented the global essential oils market on the basis of product, application, sales channel, and region:
Essential Oils Product Outlook (Volume, Tons; Revenue, USD Thousands, 2016 - 2027)
• Acorus Calamus
• Black pepper
• Carrot Seed
• Ciz-3 Hexanol
• Cumin Seed
• Curry Leaf
• Dill Seed
• De-Mentholised Peppermint
• Holy Basil
• Juniper Berry
• Pepper Mint
• Tea Tree
Essential Oils Application Outlook (Volume, Tons; Revenue, USD Thousands, 2016 - 2027)
• Food & Beverages
o RTE meals
o Meat, Poultry & Seafood
o Snacks & Nutritional Bars
• Spa & Relaxation
o Massage Oil
o Personal Care
Makeup and color cosmetics
• Cleaning & Home
o Kitchen Cleaners
o Floor Cleaners
o Bathroom Cleaner
o Fabric Care
Essential Oils Sales Channel Outlook (Volume, Tons; Revenue, USD Thousands, 2016 - 2027)
• Direct Selling
Essential Oils Regional Outlook (Volume, Tons; Revenue, USD Thousands, 2016 - 2027)
• North America
• Asia Pacific
o South Korea
• Middle East & Africa
• Central America
• South America
List of Key Payers of Essential Oils Market
• Sydney Essential Oil Co. (SEOC)
• Biolandes SAS
• India Essential Oils
• H. Reynaud & Fils (HRF)
• Young Living Essential Oils
• Essential Oils of New Zealand
• Farotti S. R. L.
• Flavex Naturextrakte GmbH
• West India Spices Inc.
• Ungerer Limited
• The Lebermuth Company
• Rocky Mountain Essential Oils
• Moksha Lifestyle Products
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.