The essential oils market is projected to reach $11.19 billion by 2022 at a CAGR of 8.83% from 2017. Orange oil segment led the essential oils market, by type with the largest share in 2017 Led by Europe Region
Pune, India - July 4, 2017 /MarketersMedia/ —
“The essential oils market is projected to grow at a CAGR of 8.83%.”
The essential oils market is projected to reach USD 11.19 billion by 2022at a CAGR of 8.83% from 2017. The increasing double income households, coupled with the increase in end-use applications of essential oils are the major factors driving the growth of the essential oils market. The booming aromatherapy industry, which is the major consumer of essential oils owing to its medicinal and relaxing properties, is another reason for the exponential growth of essential oils in the global market. However, the major factors restraining the growth of this market are the side effects associated with certain essential oils.
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“Orange oil segment led the essential oils market, by type, with the largest share in 2017”
Orange belongs to the Rutaceae family and is widely used as an essential oil. Orange oil is mainly manufactured through the cold press extraction method. Brazil is the leading producer & exporter of orange worldwide. Orange oil acts as an antispasmodic, sedative, aphrodisiac, anti-inflammatory, and antiseptic. Thus, awareness about the benefits of orange oil led to an increase in its demand from different end-use applications such as food & beverage, aromatherapy, and health care.
“Europe to lead the market in terms of market share between 2017 and 2022”
The market for essential oils in the European region accounted for the largest share in 2017. Germany is one of the major markets for essential oil products in Europe. It is the third-largest country globally which imports& exports essential oils. Among different types, orange oil is used extensively in various end-use applications such as food & beverages, health care, and aromatherapy. The use of essential oils is more in aromatherapy due to its various health benefits such as improving immunity and speedy recovery from illness.
The breakdown of the primaries on the basis of company, designation, and region, conducted during the research study, is mentioned as follows: By Company Type: Tier 1 – 40%, Tier 2 – 40%, and Tier 3 – 20%, By Designation: Director Level – 20%, C Level – 40%, and Others – 40%, By Region: Asia-Pacific – 25%, Europe – 50% and North America – 25%
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Key players are as follows:
The global essential oils market is dominated by key players such as Cargill (U.S.), E.I. du Pont de Nemours and Company (U.S.), Koninklijke DSM N.V.(Netherlands), and dōTERRA International LLC. (U.S.). Other players in the industry include Young Living Essential Oils (U.S.), Sensient Technologies Corporation (U.S.), Symrise (Germany), and Mane (France).
Research Coverage for Essential Oils Market
The essential oils market, on the basis of type, includes orange oil, lemon oil, lime oil, peppermint oil, corn mint oil, citronella oil, spearmint oil, geranium oil, clove leaf oil, eucalyptus oil, jasmine oil, tea tree oil, rosemary oil, lavender oil and others. On the basis of application, the market is segmented into food & beverages, cosmetics & toiletries, aromatherapy, home care, health care, and others. The major method of extraction considered includes distillation, carbon dioxide extraction, cold press extraction, solvent extraction and others. On the basis of region, the market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
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Source: MarketersMedia
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