According to a new report by Expert Market Research titled, ‘Global Essential Oils Market Report and Forecast 2020-2025’, the global essential oils availability stood at a volume of 177.6 thousand metric tons in 2019. The availability of essential oils is expected to grow at a CAGR of 8.8% between 2020 and 2025 to attain a volume of 294.5 thousand metric tons by 2025.
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The global essential oils market is being aided by the thriving fragrance and cosmetics industries. The demand for essential oils in the sectors is increasing to manufacture products like perfumes, body scrubs, lotions, and face cream, due to their therapeutic and soothing properties. In emerging economies like the Asia Pacific and the Middle East and Africa, the industry is expected to witness a robust growth due to the rising disposable incomes and growing health concerns coupled with the positive health impact of essential oils on the senses. In the developed regions, the increased demand for premium quality products is aiding the industry. The rising popularity of essential oils variants such as mentha oil, orange oil, and clove is propelling the market forward. While the leading clove oil producer is Indonesia, accounting for over 75% of its global production, the leading orange oil producer is Brazil, occupying over half of the global orange oil production, followed by the United States. Based on end-user demand, the highest growth rate for essential oils is expected to come from the flavour and fragrance industry, projected to grow at a rate of 6-7% till 2022, followed by pharmaceuticals industry, which uses lemon oil, eucalyptus oil, etc., due to their medicinal properties.
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Market Breakup by Types:
- Mentha Oil
- Orange Oil
- Peppermint Oil
- Clove Oil
- Others
Market Breakup by Applications:
- Flavour and Fragrance
- Industrial
- Pharmaceuticals
Market Breakup by Regions:
1 North America
1.1 United States of America
1.2 Canada
2 Europe
2.1 Germany
2.2 United Kingdom
2.3 France
2.4 Italy
2.5 Others
3 Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 ASEAN
3.5 Others
4 Latin America
4.1 Brazil
4.2 Argentina
4.3 Mexico
4.4 Others
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.3 Nigeria
5.4 South Africa
5.5 Others
Competitive Landscape & Supplier Analysis:
- Robertet Group (OTCMKTS: RBTEF)
- Biolandes SA
- Sydney Essential Oil Co.
- Lebermuth, Inc
- Young Living Essential Oils
- Ungerer Limited
- Farotti Srl
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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