The global essential oils market is projected to grow at a significant CAGR during the forecast period. Owing to the wide variety of benefits these oils possess, these are utilized in various applications. Growth in the food and beverage sector coupled with the rise in demand for the additional flavours and fragrances in the food and beverage applications tends to increase the adoption of these oils in the food and beverage industry. In addition, these find application in food preservatives.
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Some of the prominent players operating in the global essential oil market include Biolandes SAS, DoTERRA International LLC, Edens Gardens Inc., NOW Foods, Plant Therapy, Inc., Rocky Mountain Oil LLC, Soulflower Co. Ltd., Young Living Essential Oil, and many others.
Further, the essential oil is utilized as a part of pharmaceutics for their potential as therapeutic agents. For instance, peppermint, sage, anise, eucalyptus, clove, and tea tree are some of the essential oils widely used in pharmaceutical applications. These oils are utilized as an expectorant for various purposes, for instance, eucalyptus essential oil is used for bronchitis and cough; sage, clove, and tea tree oil used as antibacterial agents; peppermint oil is used as a decongestant of the respiratory tract, and anise oil is used as a carminative.
Moreover, clove oil is utilized as a part of dentistry for its antimicrobial and pain-relieving properties while tea tree oil is utilized in the field of dermatology as it possesses antimicrobial properties against Gram-positive microbes. In pharmaceutics, essential oils are used to enhance sensory attributes of pharmaceutical drugs. Such applications of essential oil tend to expand the overall essential oil market size.
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The prime application of essential oils in pharmaceutics is aromatherapy. Different strategies can be utilized to administer essential oils isolated from different plant sources. In aromatherapy, these oils are used for various applications such as pain management, relaxation, insomnia, and many others. They can be also used as balms, compresses, and creams.
Biolandes SAS, DoTERRA International LLC, Edens Gardens Inc., NOW Foods, Plant Therapy, Inc., Rocky Mountain Oil LLC, Soulflower Co. Ltd., and Young Living Essential Oil are some of the key players contributing towards the growth of the global essential oil industry. New product launches & developments, partnerships, agreements, and acquisitions are some of the key strategies adopted by the aromatherapy diffusers market players in order to sustain in the competitive market.
For instance, in July 2019, Young Living Essential Oils partnered with International Space Station (ISS) and NASA, and D. Gary Young Research Institute to study the chances of solar radiation in essential oil products. Further, in July 2019, doTERRA International showcased its custom-designed label that offers space for two languages on essential oil bottles. While, in November 2018, Young Living Essential Oils launched its offerings and solutions in the Philippines Southeast Asian market.
Global Essential Oils Market – Segmentation
By Product Type
• Lavender Oil
• Orange Oil
• Eucalyptus Oil
• Peppermint Oil
• Lemon Oil
• Rosemary Oil
• Other Oil
• Food and Beverages
• Spa & Relaxation
• Other Applications
Global Essential Oils Market – Segmentation by Region
• United States
• Rest of Europe
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East Africa
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