Essential Oils Market Is Expected to Reach $17.80 Billion by 2025

The Report “Essential Oils Market: By Product (Orange, Corn Mint, Eucalyptus, Citronella, Peppermint, Lemon, Clove Leaf, Lime, Spearmint); By Application (Medical, Food & Beverage, Spa & Relaxation, Cleaning & Home); & By Region – Forecast (2019–2025)”, published by IndustryARC, estimates the global essential oils market to reach $17.80 billion by 2025.

Browse 87 Market Tables and 35 Figures spread across 188 Pages, and an in-depth TOC on “Essential Oils Market”

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According to a recent study by IndustryARC, the Essential oils market is forecast to reach $17.80 billion by 2025, growing at a CAGR of 13.80%. The growth of the essential oils market can be attributed to the rising applications of these oils as active ingredients in the pharmaceutical industry. 

The market for essential oils is all set to exhibit robust growth with a broad range of applications established in the food, cosmetics, personal care, and pharmaceutical industries. The potential health benefits of essential oils are surging the growth of this market across the globe. The food industry is the largest market for essential oils, accounting for more than 30% of the total market in 2017. The growing emphasis on the use of Balsam oil, Coriander oil, Davana oil, and others in the formulation of several drugs for various diseases has enabled the pharmaceutical industry to evolve as a lucrative market for essential oils. The scientifically proven results about the medicinal properties of essential oils and their capability to produce pharmacological effects in patients are boosting the demand for these oils.

Europe is the largest market for essential oils, generating over $2.5 billion in revenue in 2017. In Europe, the demand for essential oils has grown tremendously especially in the food and beverages industry. The European food manufacturers are focusing on the utilization of essential oils as fragrances and flavoring agents in food preparations. The developing economies of the Asia-Pacific region including China and India hold significant share in the essential oils market. Asia-Pacific is projected to be the fastest growing geographic segment of the essential oils market over the forecast period owing to the increased demand from the aforementioned countries. 

Essential oils manufacturers have laid their focus on mergers and acquisitions as well as product launches to augment entry into related markets and enhance their core competencies and product portfolio as well as gain a foothold in the emerging markets.

The overall market is also presented from the perspective of different geographic regions and the key countries for this industry. The competitive landscape for each of the product types is highlighted and market players are profiled.