Global Essential Oils Market to Grow at 8.8% CAGR by 2030

Market Overview:

MarkNtel Advisors has released a new report that highlights the strong growth trajectory of the Essential Oils Market, The Global Essential Oils Market is projected to grow at a CAGR of around 8.8% during the forecast period, i.e., 2024-30. Various factors are attributed to the growth of the market like growth in automobile production, growing focus on lightweight sustainable materials, rising demand for luxury customized interiors, increasing focus on safety standards, and the adoption of Advanced Driver Assistance Systems (ADAS). The report provides valuable insights into the drivers, trends, and challenges shaping the future of the Essential Oils Market. It offers an in-depth look at the key players, geographical performance, and the segments leading the charge in market share.

Industry Outlook Forecasts:

Forecast Period: 2024-2030
CAGR (2024-2030): 8.8%

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Global Essential Oils Market Segmentation Breakdown:

The Essential Oils Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:

By Type
- Citrus
- Tea Tree
- Lavender
- Eucalyptus
- Rosemary
- Others (Chamomile, Peppermint, etc.)

The versatile Citrus Oils with fresh, zingy, and uplifting aromas hold the potential share of the Global Essential Oils Market, as they can be utilized for multiple applications.

By Application
- Aromatherapy
- Food Beverages
- Healthcare
- Personal Care Cosmetics

Geographical Growth Insights:

By Region
- North America
- South America
- Europe
- The Middle East Africa
- Asia-Pacific

Europe dominates the Essential Oils Market globally, and the same trend is likely to be followed during the forecast period as well.

MarkNtel Advisors Highlights Key Market Drivers for Essential Oils Market:

Rising Aromatherapy Practices Growing Usage of Essential Oils in Food Beverages to Thrive the Market – Nowadays, consumers have been showing a heightened focus on health personal care, leading to a surge in visits to spa and relaxation centers for aromatherapy sessions utilizing essential oils. This trend is further amplified by the flourishing tourism and hospitality industries, contributing significantly to driving the Global Essential Oil Market growth.

Besides, several studies cite that essential oils play a crucial role in naturally preserving foods by showing antibacterial activities in foods like meat, fish, cooked rice, and milk other dairy products. As a result, the rising consumer interest in organic products has made these oils a significant ingredient in the food beverage industry, with the growing utilization of them by food manufacturers to enhance the aesthetics as well as nutritional functional properties of food products. This, in turn, is aiding in enhancing the Essential Oils Market share in the future.

A Comprehensive Analysis of Leading Companies in Global Essential Oils Market

Aura Cacia
doTERRA
DuPont
Givaudan
NOW Essential Oils
Plant Therapy
Rocky Mountain Oils, LLC
Sydney Essential Oil Co.
The Lebermuth Company
Young Living
Others

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Global Essential Oils Industry Recent Development:

2023: Aura Cacia, a prominent brand specializing in sustainably obtained essential oils, aromatherapy, and botanical items, has introduced its latest Air Care collection. This range includes blends of essential oils, room sprays, and toilet sprays, all crafted with 100% pure essential oils without artificial fragrances.
2022: doTERRA introduced new natural sustainably sourced essential oils. Eucalyptus essential oil and guaiac wood essential oil are among the new essential oils.

What are the growth Challenge driving the Global Essential Oils Market?

Significantly High Prices of Essential Oils to Hinder the Industry Growth – Since essential oils are concentrated in nature, a large number of flowers are consumed in their production, owing to which reserves of fragrant plants are declining gradually. As a result, the ever-growing demand against limited supplies of flowers is leading to high prices of these oils worldwide, i.e., increasing the consumer inclination toward substitutes like synthetic oils. Hence, these dynamics would pose a challenge to the expansion of the Global Essential Oils Market over the forecast years.

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MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative quantitative research company, strive to deliver data to a substantial varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

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