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Redding, California - May 27, 2024

Essential Oils Market to be Worth $24.80 Billion by 2031

Essential Oils Market Size, Share, Forecast, & Trends Analysis by Source (Citrus {Orange}, Lavender, Tea Tree), Type (Organic), Extraction Method, Application (Food & Beverage, Aromatherapy), Distribution Channel (Direct Selling) - Global Forecast to 2031


Meticulous Research®—a leading global market research company, published a research report titled ‘Essential Oils Market Size, Share, Forecast, & Trends Analysis by Source (Citrus {Orange}, Lavender, Tea Tree), Type (Organic), Extraction Method, Application (Food & Beverage, Aromatherapy), Distribution Channel (Direct Selling) - Global Forecast to 2031.’

According to this latest publication from Meticulous Research®, the essential oils market is projected to reach $24.80 billion by 2031, at a CAGR of 8.8% during the forecast period 2024–2031. The growth of this market is driven by factors such as the increasing consumer preference for natural and organic products, the growing demand for essential oils from the aromatherapy industry, the rising awareness about the health benefits of essential oils, and the increasing concerns regarding the use of synthetic ingredients. However, the limited availability of raw materials and potential side effects or allergic reactions associated with certain essential oils may restrain market growth.

Moreover, the increasing demand for essential oils in the personal care and cosmetics industry and emerging countries are expected to create market growth opportunities. However, the proliferation of counterfeit products poses a significant challenge to the market’s growth.

Additionally, the adoption of sustainable production practices is a prominent trend in the essential oils market.

Key Players

Some of the key players operating in the essential oils market are dōTERRA International, LLC (U.S.), ROBERTET SA (France), The Lebermuth Company, Inc. (U.S.), Young Living Essential Oils LC. (U.S.), Biolandes SAS (France), Phoenix Aromas & Essential Oils, LLC (U.S.), Sensient Technologies Corporation (U.S.), Givaudan SA (Switzerland), International Flavors & Fragrances Inc. (U.S.), DSM-Firmenich AG (Switzerland), Symrise AG (Germany), Essential Oils of New Zealand Ltd (New Zealand), Sydney Essential Oil Co. (Australia), Farotti S. R. L. (Italy), Down Under Enterprises Pty. Ltd. (Australia), and Aromaaz International Private Limited (India).

The essential oils market is segmented by source (citrus {orange, lemon, and other citrus-based sources}, lavender, tea tree, cornmint, eucalyptus, geranium, clove, citronella, spearmint, lemongrass, peppermint, rosemary, cedarwood, and others), type (non-organic essential oils and organic essential oils), extraction method (distillation, cold press extraction, carbon dioxide extraction, and other extraction methods), application (food & beverage {bakery, confectionery, dairy, beverages, and other food & beverages}, personal care & cosmetics {cosmetics, toiletries, and fragrances}, aromatherapy, pharmaceuticals, home care, and other applications), distribution channel (direct selling and other distribution channels), and geography (North America, Europe, Latin America, Asia-Pacific, and the Middle East & Africa). The study also evaluates industry competitors and analyzes the market at the country level.

Based on source, the essential oils market is segmented into citrus, lavender, tea tree, cornmint, eucalyptus, geranium, clove, citronella, spearmint, lemongrass, peppermint, rosemary, cedarwood, and other sources. In 2024, the citrus segment is expected to account for the largest share of 43.2% of the essential oils market. This segment’s large market share can be attributed to the rising demand for citrus oil in the food & beverage industry for diverse applications, including flavoring and preservation, as well as its growing popularity in aromatherapy and personal care applications.

Based on type, the essential oils market is segmented into non-organic essential oils and organic essential oils. The organic segment is projected to register a higher CAGR during the forecast period of 2024–2031. The growth of this segment is mainly attributed to the growing number of health-conscious consumers, rising disposable incomes, rising interest in organic products and sustainability, and growing consumer demand for clean beauty products.

Based on extraction method, the essential oils market is segmented into distillation, cold press extraction, carbon dioxide extraction, and other extraction methods. In 2024, the distillation segment is expected to account for the largest share of the essential oils market. The large market share of this segment is mainly attributed to its efficiency, versatility, scalability, and ability to produce high-quality essential oils. Further, steam distillation is the most popular, economical, and highly efficient in extracting essential oils from various plant materials, such as flowers, leaves, and spices.

Based on application, the essential oils market is segmented into food & beverage, personal care & cosmetics, aromatherapy, pharmaceuticals, home care, and other applications. The personal care & cosmetics segment market is projected to register the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing consumer awareness about the importance of maintaining a healthy lifestyle, the rising demand for perfumery, and the growing popularity of clean-label beauty products. Furthermore, essential oils are renowned for their natural healing properties and therapeutic effects on various skin concerns, leading to a surge in demand for these oils in skincare products.

Based on distribution channel, the essential oils market is segmented into direct selling and other distribution channels. In 2024, the direct selling segment is expected to account for the largest share of the essential oils market. The large market share can be attributed to the benefits provided by direct selling, including personalized customer experiences and the capability to offer tailored product recommendations.

Based on geography, the global essential oils market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The market in Asia-Pacific is projected to register the highest CAGR of 9.5% during the forecast period. The growth of this regional market can be attributed to several factors: the growing population, increasing disposable incomes, rapid urbanization, and rising awareness of the benefits of essential oils in aromatherapy and personal care. Additionally, changing consumer preferences, rising demand from China and India, and the rapid growth of the aromatherapy and wellness industry contribute significantly to this growth.

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Key Questions Answered in the Report:

  • What are the historical market sizes and growth rates of the essential oils market?
  • At what rate is the demand for essential oils projected to grow over the next 5–7 years?
  • What are the major factors impacting market growth at the regional and country levels? What are the opportunities for existing players and new entrants in the market?
  • Which segments, in terms of source, type, extraction method, application, and distribution channel, are expected to create traction for the manufacturers in this market during the forecast period 2024–2031?
  • What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the players operating in the essential oils market during the forecast period 2024–2031?
  • Who are the major players in the essential oils market? What are their product offerings in this market?
  • What are the recent strategic developments in the essential oils market? What are the impacts of these strategic developments on the market?

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Essential Oils Market - Global Opportunity Analysis and Industry Forecast (2024-2031)
Report ID: MRFB - 1041212 Pages: 390 Formats*:PDF Category: Food and Beverages
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