Market Overview: Essential Oils Market
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Essential Oils Market Insights 2024-30
The Essential Oils Market is estimated to grow at a CAGR of around 8.8% during the forecast period 2024-30.
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Driving Innovation: Exploring the Essential Oils Market and its Key Drivers
Global Essential Oils Market Driver: Rising Aromatherapy Practices & Growing Usage of Essential Oils in Food & Beverages to Thrive the Market
Nowadays, consumers have been showing a heightened focus on health & personal care, leading to a surge in visits to spa and relaxation centers for aromatherapy sessions utilizing essential oils. This trend is further amplified by the flourishing tourism and hospitality industries, contributing significantly to driving the Global Essential Oil Market growth.
Besides, several studies cite that essential oils play a crucial role in naturally preserving foods by showing antibacterial activities in foods like meat, fish, cooked rice, and milk & other dairy products. As a result, the rising consumer interest in organic products has made these oils a significant ingredient in the food & beverage industry, with the growing utilization of them by food manufacturers to enhance the aesthetics as well as nutritional & functional properties of food products. This, in turn, is aiding in enhancing the Essential Oils Market share in the future.
Top Players in the Essential Oils Market:
Ajinomoto Foods, Conagra Brands Inc., Frosta AG (Frosta), General Mills Inc., Grupo Bimbo, Heinz Essential Oils Company, Lantmannen Unibake, McCain Foods Limited, Nestle SA, Nomad Foods Ltd., The Kellogg Company, Tyson Foods, Unilever PLC, Wawona Essential Oils, Others
Essential Oils Industry Recent Development:
- 2023: Aura Cacia, a prominent brand specializing in sustainably obtained essential oils, aromatherapy, and botanical items, has introduced its latest Air Care collection. This range includes blends of essential oils, room sprays, and toilet sprays, all crafted with 100% pure essential oils & without artificial fragrances.
- 2022: doTERRA introduced new natural & sustainably sourced essential oils. Eucalyptus essential oil and guaiac wood essential oil are among the new essential oils.
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Segmentation Analysis of Essential Oils Market
Essential Oils Market exactly assesses and highlights significant trends and influencing factors within each segment. The comprehensive analysis extends its predictions for the period spanning 2024-30, focusing on the national landscape. The market is exactly categorized based on this analysis, providing valuable insights into its various facets.
By Type
-Citrus
-Tea Tree
-Lavender
-Eucalyptus
-Rosemary
-Others (Chamomile, Peppermint, etc.)
- The versatile Citrus Oils with fresh, zingy, and uplifting aromas hold the potential share of the Global Essential Oils Market.
By Application
-Aromatherapy
-Food & Beverages
-Healthcare
-Personal Care & Cosmetics
By Region
-North America
-South America
-Europe
-Middle East & Africa
-Asia-Pacific
- Europe dominates the Essential Oils Market globally, and the same trend is likely to be followed during the forecast period as well.
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A Comprehensive Geographical Analysis:
By Region
-North America
-South America
-Europe
-Middle East & Africa
-Asia-Pacific
- Europe is anticipated to dominate the Essential Oils Market with the largest share during 2024-30.
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MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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