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Essential Oils Market Size & Share Will Reach to US $14.1 Billion by 2026: Facts & Factors

According to the [185+ Pages PDF] research report, global essential oils market size was estimated at USD 7 Billion in 2019 and is expected to reach USD 14.1 Billion by 2026. The global essential oils market is expected to grow at a compound annual growth rate (CAGR) of 9.3% from 2020 to 2027.

New York, NY, Nov. 03, 2020 (GLOBE NEWSWIRE) — Facts and Factors have published a new research report titled “Essential Oils Market By Product (Orange, Eucalyptus, Cornmint, Peppermint, Citronella, Lemon, Lime, Clove, Spearmint, and Others), By Application (Cleaning and Home, Medical, Food and Beverages, Spa and Relaxation, and Others), and By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026”.

According to the research study, the global essential oils market size was estimated at USD 7 Billion in 2019 and is expected to reach USD 14.1 Billion by 2026. The global essential oils market is expected to grow at a compound annual growth rate (CAGR) of 9.3% from 2020 to 2027.

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 the 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.

Browse through 22 Tables & 74 Figures spread over 185+ Pages and in-depth TOC on “Global Essential Oils Market Size, Share 2020 Updated Analysis Research Report and Forecasts till 2026”.

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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 the 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.

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Top Market Players in Essential Oil Market

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, Lebermuth, Rocky Mountain Essential Oils, Young Living Essential Oils, Moksha Lifestyle Products, India Essential Oil, Ungerer Limited, Falcon, Essential Oils of New Zealand,  West India Spices Inc., Flavex Naturextrakte GmbH, and H.Reynaude & Fils. West India Spices Inc., and Flavex Naturextrakte GmbH. Moksha Lifestyle Products, Sydney Essential Oils Co. Pty Ltd., Essential Oils of New Zealand, West India Species, Inc., Biolandes, and doTERRA International are the prominent players of the essential oil market covers more than 25% of the market.

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Essential Oil Market: Market Segment Dominance:

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.

Orange is expected to lead the global Essential Oils market

The orange category is anticipated to dominate the global Essential Oils market due to the non-greasy and eco-friendly extraction processes. Furthermore, its suitable application in pest controls, household cleaners, and therapeutic products further help surge the market growth. Apart from this, the increasing sales of orange essential oil in the fragrance industry are projected to bolster market expansion.

The essential oils are liquids extracted from the stems, leaves, seeds, roots, or flowers of the specific plant. Some of the common essential oil sources include tea tree, lavender, orange, lemon, peppermint, and others. The essential oils are considered to possess antibacterial, antifungal, antiviral, and antimicrobial properties. Furthermore, the ability of essential oils to by-pass the digestive system has increased its use in improving digestion. It is also used in infants to help swallow capsules or tablets and also for improving the oxygenation in some individuals.

Browse the full “Essential Oils Market By Product (Orange, Eucalyptus, Cornmint, Peppermint, Citronella, Lemon, Lime, Clove, Spearmint, and Others), By Application (Cleaning and Home, Medical, Food and Beverages, Spa and Relaxation, and Others), and By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026″ report at https://www.fnfresearch.com/global-essential-oils-market-by-product-orange-eucalyptus-682

Regional Dominance:

North America is expected to hold the majority of the market share during the forecast period owing to the increasing application of essential oil in the food & beverages and pharmaceutical sector. The growth of the market in North America is attributed to the growing awareness about the advantages of essential oil and the increasing investments being made in aromatherapy and body massages. Furthermore, Asia Pacific is expected to exhibit the highest growth rate due to the rising consumer base and extensive application in the Asia Pacific region.

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This report segments the global Essential Oils market as follows:

Global Essential Oils Market: Product Segmentation Analysis

  • Orange

  • Eucalyptus

  • Cornmint

  • Peppermint

  • Citronella

  • Lemon

  • Lime

  • Clove

  • Spearmint

  • Others

Global Essential Oils Market: Application Segmentation Analysis

  • Food and Beverages

  • Medical

  • Cleaning and Home

  • Spa and Relaxation

  • Others

Global Essential Oils Market: Regional Segmentation Analysis

  • North America

  • Europe

    • Germany

    • The UK

    • France

    • Spain

    • Italy

    • Rest of Europe

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Southeast Asia

    • Rest of Asia Pacific

  • Latin America

    • Brazil

    • Mexico

    • Rest of Latin America

  • Middle East & Africa

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