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Essential Oils Market Expected to Grow at a CAGR

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NEW YORK, March 01, 2022 (GLOBE NEWSWIRE) — According to detailed analysis by Persistence Market Research, the global essential oils market should extend to CAGR of 7.7% and reach US$39.14 billion end of 2032.

Eastern culture has a huge influence in the beauty and fashion industry. Essential oils are used in a wide range of cosmetic products due to their exceptional properties which result in clearer and smoother skin. Due to their antioxidant activity, essential oils are gaining ground in the cosmetics sector.

These oils are an important ingredient in many cosmetic products, including bath products, lip balms, facial care products, body care products, herbal oils, body balms, etc. ., to get rid of fungal infections, hair loss, dandruff, scalp infections, moles, acne and facilitate anti-aging.

In addition, the prevalence of various diseases such as throat infections, respiratory diseases, depression, fatigue and others encourage customers to use health-promoting products. The medicinal properties of essential oils provide a wide range of health benefits when applied in combination with carrier oils. These products serve as a primary substitute for chemically infused medications.

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Essential oils have been shown to be an effective way to treat stress, anxiety, headaches and migraines, sleep and insomnia, inflammatory conditions, and a variety of other health issues.

  • For example, Alps Goodness provides essential oils with powerful healing compounds, which can be ideally used for skin radiance, anti-aging, hair growth, baldness and much more.

Key insights from market research

  • South Asia, East Asia and Latin America markets are expected to register significant growth over the forecast period (2022-2032)
  • Together, North America and Europe has more than 60% value share in the global essential oil market.
  • The market in China and Indonesia should increase to the value 9.9% CAGR and 10.4%, respectively.
  • Essential oils are derived from various sources such as citrus fruits, herbs and spices, mints, flowers, nuts, and others, among which the citrus type of essential oils hold the largest share of value. 36.5% in 2022.
  • On an end-use basis, the food and beverage sector is currently valued at $4.63 billion.
  • Global consumption of essential oils is expected to reach 963,369 tons by the end of 2032.

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“Due to the growing demand for essential oils in therapeutic, food preservation, anti-aging, and other applications, market players could reap substantial profits by concentrating the use of essential oils in the health care industries. food and beverage, cosmetics and aromatherapy,” says a Persistence Market Research Analyst.

Competitive landscape

Essential oil manufacturers strive to strengthen their positions around the world by establishing offices, production facilities and strong distribution networks. This will allow them to meet growing consumer demand for essential oils in all geographies.

  • In 2019, doterra International, LLC set up its new headquarters in Bogota, Colombia and registered its products locally in the Colombian market.
  • In 2017, Now Health Group, Inc. opened a new distribution facility to support long-term growth and expansion. This facility is located in Illinois and is equipped with a state-of-the-art order processing system.

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Explore more valuable insights

Persistence Market Research in its new report offers an unbiased analysis of the global essential oils market, presenting historical data (2017-2021) and estimation statistics for the forecast period 2022-2032.

The study offers compelling information based on type (citrus, herbs and spices, mints, flowers, nuts and others), nature (organic and conventional), end use (food and beverage industry, cosmetics and personal care , home care and toiletries, aromatherapy, animal feed, food service industry and retail/households) and distribution channel (business-to-business and business-to-consumer), in seven major regions of the world.

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