Global Essential Oils Market Assessment, By Product [Citrus Oils, Floral Oils, Herbaceous Oils, Woody/Earthy Oils, Resinous/Musky Oils, Others], By Types [Singles/Virgin, Blends], By Category [Conventional, Organic], By Method of Extraction [Expression (Cold), Steam Distillation, Carbon Dioxide Extraction (Supercritical CO2 Extraction), Solvent Extraction, Low Temperature Extraction], By Application [Food and Beverages, Aromatherapy, Cosmetics and Personal Care, Home Care, Toiletries and Cleaners, Alternative Energy and Medical, Textiles, Automobile Air Fresher, Agriculture, Others], By End-user [Cosmetic Companies, Pharma Companies, Medical Spa, Dermatology Clinics, Others] By Region, Opportunities and Forecast, 2017-2031F

Global essential oils market is projected to witness a CAGR of 6.3% during the forecast period 2024-2031, growing from USD 12.79 billion in 2023 to USD 20.85 billion in 2031.

Essential oils are mixtures of fragrant and odorless substances or highly volatile ingredients separated by a physical process from an odorous plant. These substances are chemically pure mixtures that provide their respective identity. They are extracted through several methods, such as distillation, cold press extraction, solvent extraction, and enzymatic extraction. Moreover, essential oils have expanded in demand due to spas and relaxation centers nationwide. People use it for various purposes, such as aromatherapy, skincare, and massage therapy. Studies have shown that essential oils help reduce stress, anxiety, and fungal infection.

An article published in November 2023 by Konkuk University, Seoul, in the National Institute of Health (NIH) states that Lavender oil helps reduce anxiety levels by balancing blood pressure, heart rate, respiratory rate, saturation, etc.

Furthermore, social media's influence on the visibility of essential oils accelerates market growth, increasing awareness of health benefits and reshaping the market of essential oils, globally. Consumers are recognizing the nutrient-rich qualities of essential oils, which are rich in omega-3 fatty acids, vitamins, and minerals, and there is growing demand for organic beauty products and aromatherapy solutions, boosting market growth.

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Social Media Influence on Visibility of Essential Oils Accelerate Market Growth

Social media platforms provide a powerful means of communication for essential oils manufacturing, producing, and supplying companies and supporters to promote products, share information, and connect to a larger audience. As social media platforms play a huge role in promoting and selling a product due to easy access to the internet and a fast-paced, busy lifestyle, people want to shop for products online. These platforms allow the creators or influencers to showcase the product's advantages through visually appealing content by making videos, giving product reviews, and describing quality through images, testimonials, blogs, and others.  These experiences shared by the influencers generate a huge response by reaching millions of people at a time. Also, social media accelerates direct communication between consumers and brands, supporting companies in engaging their customers, addressing their concerns, and providing information about the product's benefits. As people become more aware about the benefits of essentials oils through these platforms, it helps in strengthening the market growth.

For instance, in September 2022, Robertet launched e-Robertet, an online essential oils shop platform. The launch aims to expand its range of organic essential oils on a larger scale with an e-commerce site for raw materials, that offers transparency, quality, and environmentally friendly products.

Government Bodies Regulating Market Trends

Government bodies play an important role in regulating the promotion of essential oils to ensure the safety of consumers and prevent wrong and misleading information and claims made by false brands. It involves setting the guidelines and standards for manufacturing and selling the products. In essential oils, government bodies such as European Medicine Agency (EMA) and Food Drug Administration (FDA) establish set of regulatory guidelines which govern packaging, labelling, and advertising practices. These guidelines frequently require manufacturers to provide accurate information about the formulation, composition, shelf life, and side effects of the products. Government bodies help in protecting consumers from misleading and false marketing and ensures that essential oils are used safely and effectively by imposing these regulations. Also, through approvals and premarket products by government, people are encouraged to buy it, which in turn fuels the demand of the product and drives the market growth.

According to an article published by AgroSpectrum, in July 2023, Meghalaya Government’s aroma mission achieve a massive success by producing 4 metric tons of essential oils, which is directly contributing to the state’s aromatic plant industry. The initiative played an important role in cultivating ten essential aromatic plants such as wintergreen, lavender, damask rose, and marigold which are classified as high-value crops. The initiative helps over 3000 farmers across the state by improving their livelihoods and economic opportunities.

Growing Demand for Organic Beauty Products and Aromatherapy Solutions

Consumers are progressively looking for natural and sustainable alternative solutions for wellness, haircare, and skincare, which is leading to a rise in the popularity of essential oils. Essentials oils are known for their natural origin and purity which make them a preferred choice for customers in organic beauty products. They are generally used as key ingredients in moisturizers, shampoos, hair oils, creams, and other personal skincare items due to their aromatic properties and potential therapeutic benefits for hair care. Furthermore, essential oils are pivotal in aromatherapy, a holistic approach that utilizes plant-derived aromas to promote physical well-being. The demand for aromatherapy increases as people become more health conscious and seek natural solutions for relaxation and stress relief, which increased the use of essentials oils, driving the market growth.

For instance, in August 2023, Botanical Innovation launched Botanical’s Breath Microencapsulated Essential Oils in the range of microencapsulated essential oil powders. The launch aims to open a new chapter in nutraceutical flavor, fragrance, and ingredient applications, redefining sensory experiences and elevating product efficacy.

Europe Dominates Global Market Share

Europe dominates the global essential oils market share due to easy availability of products and increased customer base as organizations such as the European Federation of Essential Oils (EFEO) have had a good impact on the essential oils market. Also, the region has a rich history of herbal medicine and aromatherapy for essential oils with diverse geography and climate, supporting the cultivation of aromatic plants. Increased consumer awareness about hygiene and health has helped the market to generate interest and shift towards natural products.

For instance, in June 2023, Edens Garden Essentials Corporation celebrated its 14-year anniversary by launching limited edition blends, a lavender day, and a happy day. The launch aims to generate interest of consumers in refreshing and unique aromas.

In November 2022, according to an article published by WebMD, essentials oils can manage stress and anxiety. During initial results, the researchers discovered that inhaling 2.5 to 10 droplets of orange oil reduced anxiety in male volunteers.

Future Market Scenario (2024 – 2031F)

• Working on production cost or providing customized solutions based on their preference and to the consumers drives the demand for essential oils in the market.
• Innovative advancements in methods of extraction will save the time for the oil producers and manufacturers to encourage the competitiveness in the market players, which will ultimately help in driving the market growth.
• Managing supply chain distribution on a local level, such as retail stores, will facilitate customer availability and boost market growth.

Report Scope

“Essential Oils Market Assessment, Opportunities and Forecast, 2017-2031F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global essential oils market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.

Report Attribute	Details
Base Year of the Analysis	2023
Historical Period	2017-2022
Forecast Period	2024-2031
Projected Growth Rate	CAGR of 6.3% between 2024 and 2031
Revenue Forecast in 2031	USD 20.85 billion
Segments Covered	Product, Types, Category, Method of Extraction, Application, End-users
Regions Covered	North America, Europe, South America, Asia-Pacific, Middle East and Africa
Key Companies Profile	dōTERRA International, LLC, Givaudan International SA, ANIMA MUNDI APOTHECARY, Edens Garden Essentials Corporation, Enio Bonchev Production Ltd., The Lebermuth Co., Essential Oils of New Zealand, Phoenix Aromas & Essential Oils LLC, Sydney, Essential Oil Co.,  Young Living Essential Oils, LC
Customization Scope	15% free report customization with purchase
Pricing and Purchase Options	Avail the customized purchase options to fulfill your precise research needs
Delivery Format	PDF and Excel through email (subject to the license purchased)

In the report, global essential oils market has been segmented into the following categories: 

• By Product
  • Citrus Oils
  • Floral Oils
  • Herbaceous Oils
  • Woody/Earthy Oils
  • Resinous/Musky Oils
  • Others
• By Types
  • Singles/Virgin
  • Blends
• By Category
  • Conventional
  • Organic
• By Method of Extraction
  • Expression (Cold)
  • Steam Distillation
  • Carbon Dioxide Extraction (Supercritical CO2 Extraction)
  • Solvent Extraction
  • Low Temperature Extraction
• By Application
  • Food and Beverages
  • Aromatherapy
  • Cosmetics and Personal Care
  • Home Care
  • Toiletries and Cleaners
  • Alternative Energy and Medical
  • Textiles
  • Automobile Air Fresher
  • Agriculture
  • Others
• By End-users
  • Cosmetic Companies
  • Pharma Companies
  • Medical Spa
  • Dermatology Clinics
  • Others
• By Region
  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East and Africa

Key Players Landscape and Outlook

Key participants in the essential’s oils market include dōTERRA International, LLC, Givaudan International SA, ANIMA MUNDI APOTHECARY, Edens Garden Essentials Corporation, Enio Bonchev Production Ltd, The Lebermuth, Company, Inc., Essential Oils of New Zealand, Phoenix Aromas & Essential Oils LLC, Sydney, Essential Oil Co., and Young Living Essential Oils, LC among others. Continuous innovation characterizes this landscape, as these companies compete to outperform one another in terms taste and type. The market prognosis remains positive with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon. Essential oils manufacturers are concerned with supply chain resilience, product quality, and variety which will likely define the industry's future. Collaborations and developing technologies are projected to increase competition in this fast-paced market.

In September 2023, dōTERRA International, LLC launched nine new essential oils and essential oils blends at its global convention and made additions to its sleep and gut health systems product line. The launch aims to provide high-quality products sourced from 100% pure and undiluted essential oils.

For instance, in December 2022, Dabur India expanded its air freshening products by launching an Odonil Gel Pocket, a gel-based air freshener fused with essential oils, which provide natural fragrance experience.

Key Players Operating in Global Essential Oils Market are:

• dōTERRA International, LLC
• Givaudan International SA
• Anima Mundi Apothecary
• Edens Garden Essentials Corporation
• Enio Bonchev Production Ltd
• The Lebermuth Co.
• Essential Oils of New Zealand Ltd.
• Phoenix Aromas & Essential Oils LLC
• Sydney Essential Oil Company
• Young Living Essential Oils, LC

Markets and Data’s reports answer the following questions:

• What is the current and future market size of the product/service in question globally or specific to different countries?
• How are the markets divided into different product/service segments and the market size and growth of each segment?
• What is the market potential of different product segments and their investment case?
• How are the markets predicted to develop in the future and what factors will drive or inhibit growth?
• What is the business environment and regulatory landscape specific to the product/service?

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