According to a recent research study conducted by MarkNtel Advisors, the Global Essential Oils Market is set to register around 8.8% CAGR during 2022-27. With more & more consumers becoming increasingly health conscious & aware of the healing properties of essential oils, their growing use in different industries, including but not limited to personal care & cosmetics, pharmaceuticals, food & beverages, etc., is driving the Global Essential Oils Market.
In addition, growing aromatherapy practices worldwide owing to the increasing consumer focus on maintaining their mental health & overall well-being are further augmenting the growth of the essential oil industry worldwide.
Furthermore, the increasing consumption of naturally-derived or plant-based food & beverages and personal care products due to strict norms for manufacturers to use eco-friendly ingredients is another prominent aspect projected to drive the Global Essential Oils Market during 2022-27.
With Versatile Applications, Citrus Oils to Dominate the Essential Oils Industry
Citrus essential oils are obtained from the skin of fruits like oranges, lemons, grapefruit, etc., which have zingy & mood-lifting aromas that can be well-utilized for multiple applications. They are nutrient-rich and have antioxidants that help boost the immune & relieve stress. Their various uses include air freshening, mood uplifting, ease of anxiety, enhancing emotional & physical energies, and killing bacteria & viruses in the air, among others.
These aspects are driving the sales of Citrus Essential Oils globally, wherein orange & lemon oils are the popular choices. With richness in Vitamin C, orange essential oils aid in boosting low-libido, reducing wrinkles & dark spots, and lowering blood pressure levels caused by hypertension.
On the other hand, lemon essential oils are also experiencing increasing demand worldwide, owing to their astringent properties that help cleanse oily skin. Moreover, they also aid in easing apathy, depression, & mental fatigue, when diffused in the air. Therefore, the rising consumer awareness of the various benefits of these oils is augmenting the overall growth of the Global Essential Oil Market.
Europe, followed by North America & Asia-Pacific to Lead the Market during 2022-27
With the mounting use of essential oils by the leading companies in the personal care & cosmetics sector in their product offerings to cater to the rising consumer requirements for plant-based cosmetics, coupled with the growing awareness among consumers about the benefits of ethereal oils, i.e., leading to their increasing interests in aromatherapy across countries like the UK, France, & Germany, are driving the Europe Essential Oils Market.
On the other hand, massive spending by people on plant-based products to live a healthy lifestyle and the growing number of recreational & lifestyle users across the US & Canada are augmenting the growth of the North America Essential Oils Market. Furthermore, the Asia-Pacific Essential Oils Market is driven primarily by the rising consumer awareness of various health benefits of essential oils, mounting requirements for plant-based products, and the flourishing levels of work pressure across different countries in the region.
The key companies in the Global Essential Oils Market include Aura Cacia, doTERRA, DuPont, Givaudan, NOW Essential Oils, Plant Therapy, Rocky Mountain Oils, LLC, Sydney Essential Oil Co., The Lebermuth Company, and Young Living.
Key Questions Answered in the Research Report