An increase in the consumer demand for cosmetics and personal care products is estimated to propel the growth of the essential oil market. The benefits of essential oil to the human body are anticipated to create a surging demand from the pharmaceutical industry.
Essential oil is the prominent natural oil that is extracted from the plants. It has the distinguishing smell of the plant from which it is obtained. To produce a single bottle of essential oil it takes numerous quantities of the plants in pounds. Aromatherapy is one of the prominent applications of essential oil. The rise in human stress and anxiety is propelling the demand for essential oil.
The Global essential oil market was at USD 7 billion in 2019, and it is estimated to cross the USD 14.1 billion by 2026 at the CAGR of at least 9.3 percent between the forecast years.
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Personal care products are having a wide range of consumer base. From the small baby to the old people consume essential oil through their consumers. From moisturizers, soaps to deodorants all product categories use essential oil as a prominent raw material. The aging population across the globe is creating sustainable demand for the essential oil market. The aging population is pushing consumers towards personal care anti-aging products. Additionally, the negative impact on the work-life balance has created anxiety and stress problems amongst the working population. There are around 3 billion people are employed across the globe. As per the data published by strees.org, around 94 percent of Americans experience stress. Additionally, around 89 percent of the population of India is going through anxiety and stress. An increase in stress is shifting the population towards aromatherapy. Essential oil is prominently used for aromatherapy, the aromatherapy service demand is propelling the consumption of essential oil.
The growth of the aging population across the globe is creating a sustainable demand for personal care products. Essential oil is prominently used for personal care products. Additionally, people suffering from anxiety and stress are pushing the market growth of essential oils. The aromatherapy is creating surging demand for essential oil. Additionally, the negative effects of chemical-based aroma oil may have a negative impact on the human body. The shift towards organic and plant-based oils may create a lucrative opportunity for the essential oil market. However, organizations such as the United Nations have imposed stringent norms over plant harvesting. The stringent regulations on plant harvesting may hinder the market growth of the essential oil market.
Top Market Players
- H.Reynaude & Fils
- Sydney Essential Oils Co. Pty Ltd.
- Biolandes
- Farotti SRL
- The Lebermuth Company
- Moksha Lifestyle Products
- Young Living Essential Oils
- doTERRA International
- West India Species Inc.
- Essential Oils of New Zealand.
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Based on type, the essential oil market is segmented as orange, spearmint, eucalyptus, lime, corn mint, lemon, peppermint, clove, citronella, and others. The lemon category is acquiring a prominent share of the market owing to its popular demand. Based on the Application, the market is segmented as food and beverages, spa and relaxation, cleaning and home, medical, and others. Cleaning and home and spa and relaxation are acquiring the major share of the essential oil market. On the basis of region, the market is bifurcated as North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. The North American market is estimated to have a leading share of the essential oil market.
Frequently Asked Questions
What essential Oil?
Essential oil is the prominent natural oil that is extracted from the plants. It has the distinguishing smell of the plant from which it is obtained. To produce a single bottle of essential oil it takes numerous quantities of the plants in pounds. Aromatherapy is one of the prominent applications of essential oil. The rise in human stress and anxiety is propelling the demand for essential oil.
What are the key factors driving Essential OilMarket expansion?
The growth of the aging population across the globe is creating a sustainable demand for personal care products. Essential oil is prominently used for personal care products. Additionally, people suffering from anxiety and stress are pushing the market growth of essential oils. The aromatherapy is creating surging demand for essential oil. Additionally, the negative effects of chemical-based aroma oil may have a negative impact on the human body. The shift towards organic and plant-based oils may create a lucrative opportunity for the essential oil market.
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Which region will make notable contributions towards global Essential OilMarket revenue?
On the basis of region, the market is bifurcated as North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. The North American market is estimated to have a leading share of the essential oil market.
Which are the key players leveraging Essential OilMarket growth?
The key market players operating in the essential oil market are West India Species, Inc., Biolandes, Sydney Essential Oils Co. Pty Ltd., doTERRA International, Farotti SRL, The Lebermuth, Rocky Mountain Essential Oils, Young Living Essential Oils, India Essential Oil, Ungerer Limited, Falcon, Essential Oils of New Zealand, FlavexNaturextrakte GmbH, and H.Reynaude&Fils,