The global essential oils market revenue was around US$ 21.7 billion in 2022 and is estimated to reach US$ 43.01 billion by 2031, growing at a compound annual growth rate (CAGR) of 7.9% during the forecast period from 2023 to 2031.
Essential oils are complex, volatile chemical components. They are renowned for having antifungal, antiviral, and antibacterial effects. It is also progressively replacing the majority of chemicals, medications, and prescriptions due to their numerous health advantages and a lower likelihood of adverse effects.
Market Driving Factors
Regional Analysis
Europe had the biggest revenue share in the market. This is due to the region's large population and several undiscovered markets, which are anticipated to draw the attention of major players who will grow and create operations and distribution centers there. The expansion of the sector in this region has benefited from the existence of groups like the European Federation of Essential Oils (EFEO). Furthermore, EFEO was established to advance and defend the interests of all parties involved in the market value chain. The organization is in dialogue with both the EU Parliament and the European Commission to change or propose legislation about essential oils. Such factors have helped the market growth in this region. The simple availability of feedstock and the presence of numerous industry players are the leading market share of this region. Several variables, including an early stage of economic development and a higher standard of life, are promoting the growth of important end-user industries in the region.
Segmentation Insights
Product Insights
The orange segment dominated the market in terms of revenue share in 2022. Due to its capacity to improve the appearance of nails, skin, and hair, it has a large share among young women. Orange essential oil is increasingly being used by significant end-use industries to enhance sensory appeal and product value. It is believed to support skin elasticity, firmness, and toning. It is also used to treat dermatitis, acne, and stretch marks. Additionally, rising disposable income and expanding population of working women may boost the market growth.
Sales Channel Insights
Other sales channels held a dominant position in terms of revenue share. Its large market share can be attributed to people's growing awareness of essential oils, which has led to an increase in retail sales, particularly through convenience stores. However, major businesses have started using multi-level marketing techniques to grow their companies and boost revenue.
The majority of importers and wholesalers have started Internet stores in addition to their traditional brick-and-mortar locations. The distribution routes for selling the products are expected to become more complicated as some sellers concentrate only on online sales to increase their geographic presence worldwide.
Application Insights
Spa & relaxation had the biggest revenue share in 2022. Its large market share can be attributed to how customers' lifestyles are evolving globally. These oils' antimicrobial qualities are employed to prolong the shelf life of food and beverage items. Another key aspect that fuels the expansion of this application category is the food and beverage industry's growing emphasis on improving product shelf life without sacrificing quality. The rise in demand for natural, secure, and minimally processed food items is the primary driver of the application scope of essential oils in food & beverage applications.
Prominent Companies
Segmentation Outline
The global essential oils market segmentation focuses on Product, Application, Sales Channel, and Region.
By Product
By Application
By Sales Channel
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL ESSENTIAL OILS MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: ESSENTIAL OILS MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL ESSENTIAL OILS MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL ESSENTIAL OILS MARKET, BY PRODUCT
5.1 OVERVIEW
5.2 ACORUS CALAMUS
5.3 BASIL
5.4 BLACK PEPPER
5.5 CARDAMOM
5.6 CASSIA
5.7 CEDARWOOD
5.8 CELERY
5.9 CINNAMON
5.10 CLOVE
5.11 CORNMINT
5.12 CYPRESS
5.13 CYPRIOL
5.14 DAVANA
5.15 DILL SEED
5.16 DE-MENTHOLISED PEPPERMINT
5.17 EUCALYPTUS
5.18 FENNEL
5.19 FRANKINCENSE
5.20 GINGER
5.21 JUNIPER BERRY
5.22 LAVENDER
5.23 LEMON
5.24 LEMONGRASS
5.25 MACE
5.26 MUSTARD
5.27 NEEM
5.28 NUTMEG
5.29 VETIVER
5.30 YLANG YLANG
5.31 OTHERS
6 GLOBAL ESSENTIAL OILS MARKET, BY APPLICATION
6.1 OVERVIEW
6.2 MEDICAL
6.2.1 PHARMACEUTICAL
6.2.2 NUTRACEUTICALS
6.3 FOOD & BEVERAGES
6.3.1 BAKERY
6.3.2 CONFECTIONERY
6.3.3 DAIRY
6.3.4 RTE MEALS
6.3.5 BEVERAGES
6.3.6 MEAT, POULTRY & SEAFOOD
6.3.7 SNACKS & NUTRITIONAL BARS
6.4 SPA & RELAXATION
6.4.1 AROMATHERAPY
6.4.2 MASSAGE OIL
6.4.3 PERSONAL CARE
6.4.3.1 COSMETICS
6.4.3.2 HAIR CARE
6.4.3.3 SKIN CARE
6.4.3.4 SUN CARE
6.4.3.5 MAKEUP AND COLOR COSMETICS
6.5 TOILETRIES
6.5.1 SOAPS
6.5.2 SHAMPOOS
6.5.3 MEN'S GROOMING
6.5.4 ORAL CARE
6.5.5 BABY CARE
6.6 FRAGRANCES
6.6.1 PERFUMES
6.6.2 BODY SPRAYS
6.6.3 AIR FRESHENERS
6.7 CLEANING & HOME
6.7.1 KITCHEN CLEANERS
6.7.2 FLOOR CLEANERS
6.7.3 BATHROOM CLEANERS
6.7.4 FABRIC CARE
7 GLOBAL ESSENTIAL OILS MARKET, BY SALES CHANNEL
7.1 OVERVIEW
7.2 DIRECT SELLING
7.3 OTHERS
8 GLOBAL ESSENTIAL OILS MARKET, BY GEOGRAPHY
8.1 OVERVIEW
8.2 NORTH AMERICA
8.2.1 NORTH AMERICA MARKET SNAPSHOT
8.2.2 U.S.
8.2.3 CANADA
8.2.4 MEXICO
8.3 EUROPE
8.3.1 EUROPE MARKET SNAPSHOT
8.3.2 WESTERN EUROPE
8.3.2.1 THE UK
8.3.2.2 GERMANY
8.3.2.3 FRANCE
8.3.2.4 ITALY
8.3.2.5 SPAIN
8.3.2.6 REST OF WESTERN EUROPE
8.3.3 EASTERN EUROPE
8.3.3. 1 POLAND
8.3.3.2 RUSSIA
8.3.3.3 REST OF EASTERN EUROPE
8.4 ASIA PACIFIC
8.4.1 ASIA PACIFIC MARKET SNAPSHOT
8.4.2 CHINA
8.4.3 JAPAN
8.4.4 INDIA
8.4.5 AUSTRALIA & NEW ZEALAND
8.4.6 ASEAN
8.4.7 REST OF ASIA PACIFIC
8.5 MIDDLE EAST & AFRICA
8.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
8.5.2 UAE
8.5.3 SAUDI ARABIA
8.5.4 SOUTH AFRICA
8.5.5 REST OF MEA
8.6 SOUTH AMERICA
8.6.1 SOUTH AMERICA MARKET SNAPSHOT
8.6.2 BRAZIL
8.6.3 ARGENTINA
8.6.4 REST OF SOUTH AMERICA
9 GLOBAL ESSENTIAL OILS MARKET COMPETITIVE LANDSCAPE
9.1 OVERVIEW
9.2 COMPANY MARKET RANKING
9.3 KEY DEVELOPMENT STRATEGIES
9.4 COMPETITIVE DASHBOARD
9.5 PRODUCT MAPPING
9.6 TOP PLAYER POSITIONING, 2022
9.7 COMPETITIVE HEATMAP
9.8 TOP WINNING STRATEGIES
10 COMPANY PROFILES
10.1 TAKASAGO INTERNATIONAL CORPORATION
10.1.1 OVERVIEW
10.1.2 FINANCIAL PERFORMANCE
10.1.3 PRODUCT OUTLOOK
10.1.4 KEY DEVELOPMENTS
10.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.2 SYMRISE
10.2.1 OVERVIEW
10.2.2 FINANCIAL PERFORMANCE
10.2.3 PRODUCT OUTLOOK
10.2.4 KEY DEVELOPMENTS
10.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.3 MANE
10.3.1 OVERVIEW
10.3.2 FINANCIAL PERFORMANCE
10.3.3 PRODUCT OUTLOOK
10.3.4 KEY DEVELOPMENTS
10.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.4 FLAVEX NATUREXTRAKTE GMBH
10.4.1 OVERVIEW
10.4.2 FINANCIAL PERFORMANCE
10.4.3 PRODUCT OUTLOOK
10.4.4 KEY DEVELOPMENTS
10.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.5 FIRMENICH SA
10.5.1 OVERVIEW
10.5.2 FINANCIAL PERFORMANCE
10.5.3 PRODUCT OUTLOOK
10.5.4 KEY DEVELOPMENTS
10.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.6 SYNTHITE INDUSTRIES LTD.
10.6.1 OVERVIEW
10.6.2 FINANCIAL PERFORMANCE
10.6.3 PRODUCT OUTLOOK
10.6.4 KEY DEVELOPMENTS
10.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.7 ROBERTET GROUP
10.7.1 OVERVIEW
10.7.2 FINANCIAL PERFORMANCE
10.7.3 PRODUCT OUTLOOK
10.7.4 KEY DEVELOPMENTS
10.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.8 INTERNATIONAL FLAVORS & FRAGRANCES INC.
10.8.1 OVERVIEW
10.8.2 FINANCIAL PERFORMANCE
10.8.3 PRODUCT OUTLOOK
10.8.4 KEY DEVELOPMENTS
10.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.9 GIVAUDAN
10.9.1 OVERVIEW
10.9.2 FINANCIAL PERFORMANCE
10.9.3 PRODUCT OUTLOOK
10.9.4 KEY DEVELOPMENTS
10.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.10 FALCON
10.10.1 OVERVIEW
10.10.2 FINANCIAL PERFORMANCE
10.10.3 PRODUCT OUTLOOK
10.10.4 KEY DEVELOPMENTS
10.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.11 NOREX FLAVOURS PRIVATE LIMITED
10.11.1 OVERVIEW
10.11.2 FINANCIAL PERFORMANCE
10.11.3 PRODUCT OUTLOOK
10.11.4 KEY DEVELOPMENTS
10.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.12 BMV FRAGRANCES PVT. LTD.
10.12.1 OVERVIEW
10.12.2 FINANCIAL PERFORMANCE
10.12.3 PRODUCT OUTLOOK
10.12.4 KEY DEVELOPMENTS
10.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.13 VEDAOILS
10.13.1 OVERVIEW
10.13.2 FINANCIAL PERFORMANCE
10.13.3 PRODUCT OUTLOOK
10.13.4 KEY DEVELOPMENTS
10.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.14 MOKSHA LIFESTYLE PRODUCTS
10.14.1 OVERVIEW
10.14.2 FINANCIAL PERFORMANCE
10.14.3 PRODUCT OUTLOOK
10.14.4 KEY DEVELOPMENTS
10.14.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.15 ULTRA INTERNATIONAL
10.15.1 OVERVIEW
10.15.2 FINANCIAL PERFORMANCE
10.15.3 PRODUCT OUTLOOK
10.15.4 KEY DEVELOPMENTS
10.15.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.16 VIDYA HERBS
10.16.1 OVERVIEW
10.16.2 FINANCIAL PERFORMANCE
10.16.3 PRODUCT OUTLOOK
10.16.4 KEY DEVELOPMENTS
10.16.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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