Global Essential Oil Market Continues to Grow

What is the Essential Oil Market Size?

According to 2020 data, the size of the global essential oil market worldwide is estimated at USD 18.6 billion. From 2021 to 2028, the market is expected to grow by another 7.4% to reach a size of USD 35.5 billion.

Why Essential Oil Market is Growing?

Increasing demand from the food and beverage, personal care, cosmetics and aromatherapy industries due to the growing interest in natural and organic products, and increasing interest from end-users due to the fact that they are natural and have no significant side effects unlike conventional medicines are thought to be the driving factors in the growth of this market.

Increasing consumer awareness is forcing manufacturers to shift their focus from synthetic products to natural products. Increased enforcement of regulations favouring the use of products with environmentally friendly ingredients is also fuelling this awareness. The health benefits associated with essential oils are also expected to increase demand in pharmaceutical and medical applications.

Which is the Most Preferred Essential Oil?

The orange oil segment dominated the essential oils market worldwide in 2020 and is estimated to have a revenue share of 9.5%.

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