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Industry Outlook and Trend Analysis

The Essential Oils Market was worth USD 5.49 billion in 2014 and is expected to reach approximately USD 12.56 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 9.63% during the forecast period. Expanded applications in fragrance based treatment combined with rising interest for aromas and flavours in personal care and food & beverages is anticipated to drive essential oils market development over the estimate time frame. The quick extension of food & beverage ventures and rise in discretionary income of consumers are foreseen to add to the interest for scents and flavours created using essential oils. These fragrances give stimulation in massages, aromatherapy, and other relaxation strategies. Various general medical advantages related with essential oils are expected to drive the demand of the product in therapeutic and pharmaceutical applications also.

Competitive Insights

The leading players in the market are The Lebermuth Co Inc, Biolandes SAS, Flavex Naturextrakte GmbH, doTerra, Sydney Essential Oil Co, Farotti S. R. L, Young Living, Essential Oils of New Zealand and H Reynaud et Fils. High entry obstructions attributable to progression in innovation and cost of capital are probably going to keep up low competition among industrial members. The business is additionally described by adjusted production capacities and distinctive market measure which is anticipated to reduce inside and higher net revenues contention among existing players.

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The Essential Oils Market is segmented as follows-

By Product:

Corn Mint
Citronella
Lemon
Lime
Orange
Eucalyptus
Pepper Mint
Clove Leaf
Spearmint
Others

By Application:

Food & Beverages
Cleaning & Home
Medical
Spa & Relaxation
Others

By Region
North America
U.S.
Canada
Mexico

Europe
Germany
UK
France
Russia
Italy
Rest of Europe

Asia-Pacific
China
Japan
South Korea
India
Southeast Asia
Rest of Asia-Pacific

South America
Brazil
Argentina
Columbia
South Africa
Rest of South America

Middle East and Africa

Saudi Arabia
UAE
Egypt
Nigeria
South Africa
Rest of MEA

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Some of the key questions answered by the report are:

What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?

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