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The global essential oils market grew at a CAGR of around 7% during 2015-2020. Essential oils are obtained from the roots, stems, fruits, seeds, wood, barks, leaves and flowers of a single plant species using expression, steam distillation and carbon dioxide (CO2) extraction. They have characteristic fragrances and are extensively utilized in manufacturing perfumes, soaps, shampoos and cleaning gels. They also have numerous therapeutic properties, due to which essential oils are used in medications for aromatherapy or as carriers for drug delivery applications. Moreover, they are used to enhance the sensory properties of agricultural items like animal feeds and food commodities.
Essential oils are used in different forms, such as expectorants, decongestants, carminative and antibacterial agents, to treat bronchitis, cough and other respiratory tracts. A significant rise in the number of individuals diagnosed with respiratory, dermatological and dental disorders worldwide is among the leading factors contributing to the market growth. Besides this, essential oils are also gaining traction as natural additives and flavoring agents in the conservation and preservation of food products, such as candies, confections, meat, pickles and soft drinks. Other applications of these oils include the synthesis of chemical preservatives, repellents and edible film coatings, and as odorants in detergents and paints. Furthermore, the escalating demand for extended shelf-life and minimal addition of preservatives is resulting in the introduction of active packaging systems to protect food products from microbial contamination. This is anticipated to increase the adoption of essential oils for promoting the safety and quality of seafood, dairy products, cereal-based items and minimally processed fruit and vegetables. Looking forward, IMARC Group expects the global essential oils market to exhibit moderate growth during the next five years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global essential oils market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, product, application and sales channel.
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The competitive landscape of the industry has also been examined along with the profiles of the key players being Biolandes, doTerra, Essential Oils of New Zealand Ltd., Falcon Essential Oils, Farotti S.R.L., FLAVEX Naturextrakte GmbH, H. Reynaud & Fils, India Essential Oils, Moksha Lifestyle Products, Rocky Mountain Oils LLC, Sydney Essential Oil Co. (SEOC), The Lebermuth Company, Ungerer Limited and Young Living Essential Oils.
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