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The Essential Oil Market size is estimated to reach $15.4 billion by 2027, growing at a CAGR of 9.7% during the forecast period 2022-2027. The growth
of the essential oil market is greatly fueled by the increasing application
of essential oil from principal end-use industries and the emerging demand for
organic products. The growing demand from principal end-use industries
like food and beverages, personal care and cosmetics and aromatherapy is
fueling the growth of the essential oil market. Essential oil is a potent
hydrophobic fluid with volatile aroma compounds extracted from plants. Organic
essential oils are high in demand due to their growing application
in food, cosmetics and personal care and pharmaceuticals attributed to their aroma-conferring characteristics. Organic essential oils are extensively utilized
in aromatherapy for uplifting the health and mood of a person. Numerous
essential oils possess antioxidant characteristics. Essential oil compounds acquired
from lemon extract, like limonene, may assist in decreasing physical and
psychological stress. The peel of citrus fruit offers the essential oil.
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Essential Oil Market Growth Drivers:
Surging Advantages of Essential Oil:
The
application of essential oils as natural antioxidants is an area of growing interest. Various recipes utilize different concentrations or percentages of
essential oils based on the recipe. Suggestions on these percentages change
from source to source. However, they typically lie between 2% and 5%. Certain advantages
of application of essential oils involve the following:
- They can assist in the enhancement of one’s mood.
- They can assist in reducing inflammation.
- They can assist in the enhancement of one’s respiratory health.
- They can assist in decreasing anxiety and stress levels.
- They can assist in decreasing fatigue and enhancing concentration levels.
Soaring Innovations Involving Essential Oil:
Essential oils from medicinal plants have antioxidant
activity. Lemon extract is prepared by the distillation process. Lemon extract is
an aromatic cooking extract. Citrus oils appear from the peels of citrus fruits.
Citrus essential oils are rich in limonene, which is discovered in the peels
of citrus fruits. Lesser concentrations of essential oils are typically
suggested for children, infants, pregnant/breastfeeding women and the elderly; typically,
from 1% down to none. The most creative ways in which these essential oils are
being directed involve aromatic furniture pieces, nasal clips, inhalers, putty
toys for children and sheet sprays to promote restful sleep. Essential oils
are also surfacing in numerous hyper-targeted personal care products, like
Niche for Men Towelettes and Oilogic's kid-friendly 'Bundle of Joy' roll-on oil
collection. The soaring innovations involving essential oil are therefore propelling
the growth of the Essential Oil Market.
Acquisition:
In November 2020, Cargill declared significant financing in Seventure Partners’ Health for Life Capital II fund. The Health
for Life Capital II fund of Seventure Partners backs the microbiome revolution
in the areas of health and nutrition.
Essential Oil Market: Competitive Landscape
Key companies holding major shares in the Essential
Oil Market are Cargill, Inc, DuPont, Koninklijke DSM N.V., dôTERRA
International LLC, Givaudan SA, Young Living Essential Oils, The
Lebermuth Company, Inc., Symrise, Sensient Technologies Corporation and Essential
oils of New Zealand.
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About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.