Essential Oils Market 2024-2032: Global Industry Analysis, Share, Size, Growth and Forecast


 Summary:

  • The global essential oils market size reached USD 12.2 Billion in 2023.
  • The market is expected to reach USD 24.5 Billion by 2032, exhibiting a growth rate (CAGR) of 7.8% during 2024-2032.
  • Europe leads the market, accounting for the largest essential oils market share.
  • Tea tree oil accounts for the majority of the market share in the product segment due to its widespread use in skincare, cosmetics, and personal care products for its antimicrobial and anti-inflammatory properties.
  • Spa and relaxation hold the largest share in the essential oils industry.
  • Offline stores remain a dominant segment in the market, as they offer consumers the ability to experience products firsthand and provide immediate purchase satisfaction, especially for products such as essential oils that involve sensory evaluation.
  • The rising demand for natural preservatives and flavors in the food and beverage industry is a primary driver of the essential oils market.
  • Increasing use of essential oils in personal care and cosmetics products, along with the growing adoption of essential oils in pharmaceuticals are reshaping the essential oils market.

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Industry Trends and Drivers:

  • Increasing consumer awareness about natural and organic products:

One of the most significant drivers of the global essential oils market is the growing consumer preference for natural and organic products. As awareness about the potential side effects of synthetic chemicals in personal care, household products, and medicines increases, individuals are shifting toward plant-based alternatives. Essential oils, derived from natural sources such as herbs, flowers, and fruits, are considered safe and effective, making them a popular choice for consumers looking to avoid synthetic ingredients. This trend is particularly strong in developed regions such as North America and Europe, where consumers are increasingly adopting essential oils for their therapeutic, medicinal, and cosmetic properties. The demand for essential oils in aromatherapy, personal care products, and alternative medicine is rising as consumers seek wellness solutions that promote a healthy lifestyle. Moreover, with increasing environmental concerns, many consumers are opting for sustainable and biodegradable products, further boosting the market for essential oils.

  • Growing demand for aromatherapy and wellness products:

The rising popularity of aromatherapy is another major factor driving the essential oils market. Aromatherapy, which involves using essential oils to improve physical and emotional well-being, has gained widespread recognition for its benefits in stress relief, pain management, and mood enhancement. Essential oils such as lavender, peppermint, and eucalyptus are commonly used in aromatherapy treatments for their soothing and healing properties. As the wellness industry continues to grow, fueled by the increasing focus on mental health and relaxation, essential oils are becoming a key component of spa treatments, wellness retreats, and home-based aromatherapy practices. The post-COVID-19 focus on mental well-being and self-care has also contributed to the rise in demand for essential oils. People are incorporating these oils into their daily routines through diffusers, candles, and bath products to create a calming environment at home, which in turn drives market growth.

  • Expanding application in food and beverages:

The use of essential oils in the food and beverage industry is another crucial factor driving the market. Essential oils are increasingly being used as flavoring agents and preservatives due to their antimicrobial properties and strong flavors. As consumers demand cleaner labels and natural ingredients in their food products, essential oils are being utilized as a healthier alternative to synthetic additives. For instance, citrus oils such as lemon and orange are commonly used in beverages and confectionery products for flavor enhancement. Additionally, essential oils such as oregano, thyme, and rosemary are being incorporated into food products for their preservative qualities, helping to extend shelf life naturally without the need for artificial preservatives. As the demand for organic and natural food products continues to grow, the food and beverage sector is becoming a significant end-use market for essential oils. This expanding application is expected to drive substantial growth in the coming years as consumers and manufacturers alike prioritize health-conscious and sustainable options.

Essential Oils Market Report Segmentation:

Breakup By Product:

  • Cedarwood Oil
  • Eucalyptus Oil
  • Lavender Oil
  • Lemongrass Oil
  • Rosemary Oil
  • Tea Tree Oil
  • Ylang Ylang Oil
  • Others

Tea tree oil dominates the market due to its widespread use in skincare and healthcare applications, particularly for its antibacterial, antifungal, and anti-inflammatory properties.

Breakup By Application:

  • Medical
    • Pharmaceutical
    • Nutraceuticals
  • Food and Beverages
    • Bakery and Confectionery
    • Beverages
    • Meat, Poultry and Seafood
    • Others
  • Spa and Relaxation
    • Aromatherapy
    • Personal Care
    • Cosmetics
    • Toiletries
    • Others
  • Cleaning
    • Kitchen Cleaners
    • Floor Cleaners
    • Bathroom Cleaner
    • Others
  • Others

Spa and relaxation hold the maximum number of shares as essential oils are widely used for their therapeutic properties, offering stress relief, aromatherapy benefits, and enhancing overall wellness experiences.

Breakup By Sales Channel:

  • Offline Stores
  • Online Stores

Offline stores represent the largest segment as they allow consumers to directly sample essential oils, offering a sensory experience and personal consultation that builds trust and drives purchases.

Market Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Top Essential Oils Market Leaders:

  • Biolandes
  • doTerra
  • Essential Oils of New Zealand Ltd.
  • Falcon Essential Oils
  • Farotti S.R.L.
  • FLAVEX Naturextrakte GmbH
  • H. Reynaud & Fils
  • India Essential Oils
  • Moksha Lifestyle Products
  • Rocky Mountain Oils LLC
  • Sydney Essential Oil Co. (SEOC)
  • The Lebermuth Company
  • Ungerer Limited
  • Young Living Essential Oils.

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research. 

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