Essential Oil Market Comprehensive Study With Key Trends, Major Drivers And Challenges 2017-2026

According to the new market research "Essential Oil Market [By Product Type (Lemon, Lime, Orange, Corn Mint, Eucalyptus, Peppermint, Citronella, Clove Leaf, Others); By Distribution Channel (Offline Stores, Online Platforms); By Application (Healthcare and Pharmaceutical, Cleaning, Food and Beverages, Spa and Wellness, Others); By Region]: Market Size & Forecast, 2017 – 2026", The Essential Oil market is expected to reach USD 16,172.2 million by 2026 from USD 6,829.5 million in 2017, at a CAGR of 10.1%.

The essential oil market is anticipated to reach USD 16,172.2 million by 2026. In 2017, the orange essential oil segment dominated the global market, in terms of revenue. Europe is expected to be the leading contributor to the global market revenue during the forecast period.

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A significant increase in disposable income, changing lifestyles, and initiatives by market players to promote healthy lifestyles drive the growth of this market. Other driving factors include increasing incidences of stress and anxiety, growing inclination towards use of natural and organic products, and increasing awareness regarding physical and mental health. The use of essential oils in various applications such as food and beverages, healthcare, pharmaceutical, cosmetics, and aromatherapy further propel the market growth. Increasing demand in developing nations is expected provide numerous growth opportunities to the market players during the forecast period.

Major Key Player: -

Cargill (U.S.)

E.I. du Pont de Nemours and Company (U.S.)

Koninklijke DSM N.V. (Netherlands)

Givaudan SA (Switzerland)

D?terra International LLC.

Rocky Mountain Oils

LLC

Naturals Together

Robertet SA

Now Health Group, Inc.

Biolandes SAS

Falcon Essential Oils

Ungerer Limited

The Lebermuth Company

Flavex Naturextrakte GmbH

Farotti Srl.

There has been a shift towards e-commerce and consumers are increasingly purchasing essential oils through online platforms. The variety of choices available coupled with ease of purchase offered by online platforms encourages consumers to buy essential oils online, supplementing the growth of the market.

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Improvement in lifestyle due to rise in income level, especially in the developing countries of Asia-Pacific fuels the demand for essential oils market. Factors such as increase in per capita income and changes in consumer behavior towards physical and mental health are expected to accelerate the adoption of essential oils in the coming years.

Europe generated the highest revenue in the market in 2017, and is expected to lead the global market throughout the forecast period. The high geriatric population in the region coupled with high disposable income drives the market growth. The high demand of essential oils in food & beverages and cosmetic products support the market growth in the region. Asia-Pacific is expected to grow at the highest CAGR during the forecast period owing to increasing disposable incomes in developing countries of this region, rising awareness about benefits of essential oils, and rising demand of essential oils from healthcare sector in this region.

The different types of essential oils in the market include lemon, lime, orange, corn mint, eucalyptus, peppermint, citronella, clove leaf, and others. In 2017, the orange essential oil segment accounted for the highest market share. The increasing demand for orange essential oil is owing to properties such as anti-inflammatory, antidepressant, and antispasmodic. Use of orange essential oil has a calming effect on mind and body, and is used in various cosmetics products. It is also used in various foods and beverages to enhance flavor.

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Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises.