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According to the latest report by IMARC Group, titled “Essential Oils Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global essential oils market size reached US$ 10.3 Billion in 2021. Essential oils are aromatic liquids derived from plant materials through steam distillation. They are made of lipophilic, secondary plant metabolites, and principally mono- and sesquiterpenes. They are known to assist in reducing inflammation, treating sleep disorders like insomnia, and relieving stress, anxiety, headaches, and migraines. At present, their sales are increasing around the world on account of the growing popularity of aromatherapy.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Essential Oils Market Trends:
Essential oils are utilized in aroma pots or aroma diffusers to add natural fragrance at homes. This, along with the rising prevalence of respiratory, dermatological, and dental disorders, represents one of the key factors bolstering the growth of the market. Apart from this, they are widely used as decongestants, expectorants, carminatives, and antibacterial agents to treat cough, bronchitis, and other respiratory tract ailments. This, coupled with the growing use of essential oils as natural additives and flavoring agents in the preservation of food products, such as confections, candies, meat, pickles, and soft drinks, is positively influencing the market. Moreover, essential oils are widely used in manufacturing personal care products, such as soaps, perfumes, shampoos, and cleansing gels. Furthermore, the market is driven by the increasing product applications in improving the safety and quality of seafood, dairy products, cereal-based items, and minimally processed fruit and vegetables. Looking forward, IMARC Group expects the market to grow at a CAGR of 9.4% during 2022-2027.
Market Summary:
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