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Essential Oils - Global Market Trajectory & Analytics

  • ID: 4804957
  • Report
  • February 2022
  • Region: Global
  • 492 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • Biolandes SAS
  • DuPont de Nemours, Inc.
  • Farotti S. R. L.
  • H. Reynaud & Fils
  • Moksha Lifestyle Products
  • Rocky Mountain Oils, LLC

Global Essential Oils Market to Reach $11.3 Billion by 2026


Essential oils are extracts from plants, including from herbs, leaves, as well as barks, and are extracted from waste byproducts such as citrus peels, and steam distilled to produce concentrates. The concentrated extracts are volatile and have aromatic essences, making them ideal for multiple applications such as food & beverage, home care & cleaning, cosmetics, fragrances, and aromatherapy. Growth in the market is being driven by multiple factors such as rising preference for clean label products, new applications, and increasing transparency in processes. The increasing use of essential oils in the household, personal care, and bath significantly contributes towards the market growth. The food & beverage industry is one of the key drivers of growth for the essential oils industry. The food & beverage industry utilizes essential oils as ingredients, and also as preservative agents. With growing adoption of alternative medicine for common ailments, the demand for essential oils in aromatherapy are increasing at a significant pace, especially in developed markets where parlors for aromatherapy are flourishing.

Amid the COVID-19 crisis, the global market for Essential Oils estimated at US$8.1 Billion in the year 2020, is projected to reach a revised size of US$11.3 Billion by 2026, growing at a CAGR of 5.9% over the analysis period. Distillation, one of the segments analyzed in the report, is projected to grow at a 6.6% CAGR to reach US$4.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Solvent Extraction segment is readjusted to a revised 5.9% CAGR for the next 7-year period. This segment currently accounts for a 24.1% share of the global Essential Oils market. Essential oils are mainly extracted through 'steam distillation'. In this method, steam is passed through a distillation chamber containing the plant material. Breakdown of plant tissue occurs in presence of steam, thereby releasing essential oil in the form of vapors. Majority of essential oils including eucalyptus, patchouli, tea tree oil, peppermint and lavender are distilled. Solvent extraction method is employed for the delicate plant material or flowers, as their aroma would be denatured or spoiled by high temperatures required for water or steam distillation.



The U.S. Market is Estimated at $3 Billion in 2021, While China is Forecast to Reach $1 Billion by 2026


The Essential Oils market in the U.S. is estimated at US$3 Billion in the year 2021. The country currently accounts for a 35.79% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$1 Billion in the year 2026 trailing a CAGR of 7.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.5% and 5.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.6% CAGR while Rest of European market (as defined in the study) will reach US$1.1 Billion by the end of the analysis period. Europe and North America dominate market growth, owing to the presence of large cosmetics and food & beverage industries, the two largest applications of essential oils. Moreover, Europe boasts of profound support mechanisms such as the EFEO (European Federation of Essential Oils) that promotes essential oils. In addition, the availability of feedstock and access to end-users also aid the European market. The presence of a large untapped market with increasing disposable incomes and awareness is propelling growth in the Asia-Pacific region.

Carbon Dioxide Extraction Segment to Reach $1.9 Billion by 2026


Supercritical fluid extraction method makes use of super carbon dioxide as a solvent in solvent extraction method. The supercritical carbon dioxide extracts both essential oils and waxes to form concrete. Pressure is reduced to normal levels leading to evaporation of carbon dioxide, leaving no petrochemical residues. In the global Carbon Dioxide Extraction segment, USA, Canada, Japan, China and Europe will drive the 5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.3 Billion in the year 2020 will reach a projected size of US$1.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$140.8 Million by the year 2026, while Latin America will expand at a 5.8% CAGR through the analysis period.

Select Competitors (Total 88 Featured) -

  • Biolandes SAS
  • Cargill, Incorporated
  • doTERRA International LLC.
  • DuPont de Nemours, Inc.
  • Essential Oils of New Zealand Ltd.
  • Falcon Essential Oils
  • Farotti S. R. L.
  • Flavex Naturextrakte GmbH
  • Givaudan S.A. (Switzerland)
  • H. Reynaud & Fils
  • International Flavors & Fragrances Inc.
  • Koninklijke DSM N.V.
  • Moksha Lifestyle Products
  • Robertet SA
  • Rocky Mountain Oils, LLC
  • Sensient Technologies Corporation
  • Sydney Essential Oils Co. Pty Ltd.
  • The Lebermuth Co., Inc.
  • Young Living Essential Oils
The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
Frequently Asked Questions about the Global Market for Essential Oils

What is the estimated value of the Global Market for Essential Oils?

The Global Market for Essential Oils was estimated to be valued at $8.1 Billion in 2020.

What is the growth rate of the Global Market for Essential Oils?

The growth rate of the Global Market for Essential Oils is 5.7%, with an estimated value of $11.3 Billion by 2026.

What is the forecasted size of the Global Market for Essential Oils?

The Global Market for Essential Oils is estimated to be worth $11.3 Billion by 2026.

Who are the key companies in the Global Market for Essential Oils?

Key companies in the Global Market for Essential Oils include Biolandes SAS, Cargill, Incorporated, doTERRA International LLC., DuPont de Nemours, Inc., Essential Oils of New Zealand Ltd., Falcon Essential Oils, Farotti S. R. L., Flavex Naturextrakte GmbH and H. Reynaud & Fils.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Biolandes SAS
  • DuPont de Nemours, Inc.
  • Farotti S. R. L.
  • H. Reynaud & Fils
  • Moksha Lifestyle Products
  • Rocky Mountain Oils, LLC

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights
  • Impact of COVID-19 Pandemic and Looming Global Recession
  • As Consumers Focus on Health and Boosting Immunity Amidst the Pandemic, Essential Oils Find Favor
  • Essential Oils as Adjuvant Therapy for COVID-19 Disease
  • An Introduction to Essential Oils
  • Extraction of Essential Oils
  • Characterization and Properties
  • Categorization of Essential Oils
  • Raw Materials Used in Essential Oils
  • Applications of Essential Oils
  • Global Market Outlook
  • Recent Market Activity
  • Essential Oils – Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Rapid Growth of Aromatherapy & Natural Therapies Fuels Demand for Essential Oils
  • Global Aromatherapy Market Size (in US$ Million) for the Years 2019, 2022 and 2025
  • Rising Awareness about Preventive Healthcare Drives Demand for Essential Oils
  • Pharmaceutical Industry Emerges as a High Potential Growth Segment for Essential Oils
  • With Incidence of Anxiety Disorders and Depression on the Rise, Essential Oils Emerge to Provide Relief
  • Depression Emerges as a Major Mental Health Condition: Breakdown of Cases of Depressive Disorders by Region for 2020E
  • Global Prevalence of Depression (in %) by Age Group for 2020E
  • Personal Care & Cosmetic Applications to Continue Spurring Demand for Essential Oils
  • Global Beauty and Personal Care Products Market Size (in US$ Billion) for 2018, 2021, 2024 & 2026
  • Growing Use of Essential Oils in Food & Beverage Applications
  • Trend Towards Organic & Natural Foods Bodes Well for Natural Food Preservatives, Driving Opportunities in Essential Oils
  • Essential Oils Hold Potential as a Natural Pesticide
  • Lemon Essential Oil: A Commonly Used Essential Oil in Aromatherapy
  • Lemon Myrtle Essential Oil: Expanding Uses to Boost Growth
  • Use of Essential Oils in Vaping Gains Momentum
  • Organic Essential Oils Poised for High Growth
  • Growing Focus on Sustainable Production in Essential Oils Industry
  • Risks and Challenges of Using Essential Oils Restrains Market Growth

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • Essential Oils Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Essential Oils Market in the US: An Overview

CANADA

JAPAN

  • Essential Oils Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)

CHINA

  • Essential Oils Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)

EUROPE

  • Essential Oils Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • European Essential Oils Market: An Overview
  • Rising Demand for Aromatherapy in Europe to Fuel Demand for Essential Oils
  • Growing Prominence of Essential Oils in Personal Care and Cosmetics Products
  • Food and Beverage Industry Witnesses Rising Use of Essential Oils

FRANCE

  • Essential Oils Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
  • Market Overview

GERMANY

  • Essential Oils Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
  • Market Overview

ITALY

UNITED KINGDOM

  • Essential Oils Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
  • Market Overview

SPAIN


RUSSIA


REST OF EUROPE

ASIA-PACIFIC

  • Essential Oils Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • Asia-Pacific Essential Oils Market: An Overview

AUSTRALIA

  • Essential Oils Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)

INDIA

  • Essential Oils Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
  • Essential Oils Market in India: An Overview
  • COVID-19 Impact on Essential Oils Market
  • Food & Beverage Leads the Indian Essential Oils Market

SOUTH KOREA


REST OF ASIA-PACIFIC

LATIN AMERICA

  • Essential Oils Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)

ARGENTINA


BRAZIL


MEXICO


REST OF LATIN AMERICA

MIDDLE EAST

  • Essential Oils Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)

IRAN


ISRAEL


SAUDI ARABIA


UNITED ARAB EMIRATES


REST OF MIDDLE EAST

AFRICA

  • Essential Oils Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)

IV. COMPETITION

  • Total Companies Profiled: 88
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Biolandes SAS
  • Cargill, Incorporated
  • doTERRA International LLC.
  • DuPont de Nemours, Inc.
  • Essential Oils of New Zealand Ltd.
  • Falcon Essential Oils
  • Farotti S. R. L.
  • Flavex Naturextrakte GmbH
  • Givaudan S.A. (Switzerland)
  • H. Reynaud & Fils
  • International Flavors & Fragrances Inc.
  • Koninklijke DSM N.V.
  • Moksha Lifestyle Products
  • Robertet SA
  • Rocky Mountain Oils, LLC
  • Sensient Technologies Corporation
  • Sydney Essential Oils Co. Pty Ltd.
  • The Lebermuth Co., Inc.
  • Young Living Essential Oils
Note: Product cover images may vary from those shown