Essential oils market is projected to grow at a CAGR of 11.38% during the forecast period, reaching a total market size of US$5.040 billion in 2024 from US$2.640 billion in 2018. Essential oils help in boosting energy, relieving stress, reduce anxiety, and aids digestion. These are also used in treating headaches, nausea, and various skin conditions. The rising popularity of alternative medical treatments, especially for skin, is driving the demand for essential oils worldwide. Growing adoption of cosmetics and personal care products containing natural and organic ingredients is fuelling the demand for essential oils for different applications including in skincare, perfumes, and shampoos, thus positively impacting the growth of essential oils market. Rising demand for essential oils across the pharmaceutical sector, owing to their bacterial, insecticidal, and bacterial effects to promote its application to treat dental issues, skin diseases, and respiratory problems, will continue to propel the growth of essential oils market during the next five years.
The “Essential Oil Market – Forecasts from 2019 to 2024” is an exhaustive study that aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key market, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by type, application, and geography.
The essential oil market has been segmented based on type, application, and geography. Based on type, the market is classified as orange oil, lemon oil, mint oil, eucalyptus oil, and others. By application, the market is segmented as food & beverages, cosmetics and personal care products, pharmaceuticals, and others.
Regional analysis has been provided with detailed analysis and forecast for the period 2018 to 2024. The global market has been broken down into North America, South America, Europe, Middle East and Africa, and Asia Pacific regions. The report also analyzes 15 countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the producers.
Major players in the essential oil market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the essential oil market.