Due to the increasing demand of pure Essential Oil and Aromatherapy in the market is growing at an incremental pace of development on the global stage. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Global Essential Oil and Aromatherapy Market Research Report- Forecast to 2023 that the Essential Oil and Aromatherapy market will demonstrate an exceptional CAGR during the forecast period.
Every essential oil has unique functional properties which provides several health benefits to human body. Due to increasing health awareness among consumers about health benefits of essential oil, the demand for essential oil and aromatherapy especially for home care application is boosting the market. High application of essential oil in food and beverages has also raised the demand for aromatherapy globally. Wide application of aromatherapy in aiding skin care and menstrual problems is considered to be one of the major drivers of this market because of which it has gained popularity amongst the female population.
Essential oil and aromatherapy is used as a vital ingredient in many industries especially in fragrance and flavour, cosmetics, personal care, pharmaceuticals and aromatherapy. Increasing demand for high quality fragrances and flavor is supporting the demand of high quality essential oils. Increasing application of essential oil and aromatherapy in pharmaceutical industry is boosting the demand of essential oils from last few years. The EU and Japan do not apply tariffs to essential oils from SADC or from other developing countries and neither does NAFTA nor the US. There are no quota restrictions on imports of essential oils into the EU. The only issue though is that the shipment must be accompanied by the requisite certificate of origin.
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Latest Industry Updates:
May 2016 dōTERRA Increases North American Footprint, Expands into Canada with Two New Distribution Centers. The company also opened in new distillery in Bulgaria
Nov 2016 France based Essential Oil and Aromatherapy company Biolandes acquires Golgemma which is an also a French company and known for production of produces vanilla, black, white and pink pepper.
Jan 2016 Sydney Essential Oil and Aromatherapy Co. (SEOC) expanded the production capacity of Essential Oil and Aromatherapy plant in Sydeney to capture more market share in Asia Pacific region especially in Australia and New Zealand
Nov 2017 Organic Aromas, maker of premium aromatherapy products for the home and professional-use markets, has announced to further launch several unique and premium new products due to increasing demand of high quality Essential Oil and Aromatherapy in aromatherapy
In 2016, dōTERRA Increases North American Footprint, Expands into Canada with two new distribution centers and new distillery in Bulgaria. In 2015, strategic partnership between Choice Humanitarian and dōTERRA International Focuses on Rebuilding Nepal and Creating Economic Development Opportunities. Key players are more focusing on expansion of essential oil business across the globe which is contributing around 40% of strategy share. After expansion, key players are acquiring companies to strengthen their presence and to get edge over increasing competition
The key players profiled in the global Essential oil & Aromatherapy market are G Baldwin & Co (U.K.), doTerra (U.S.), Rocky Mountains Oil (U.S.), Young Living Essential Oils (U.S.), Mountain Rose Herbs (U.S.), Thann (U.S.), Ryohin Keikaku Co., Ltd. (Japan)
The global Essential Oil and Aromatherapy market has been divided into type, flavor, application and region.
On The Basis Of Type: essential oils, blended oils, carrier oils and others
On The Basis Of Ingredients: fruits, spices, flowers, herbs, others
On The Basis Of Application: food & beverages, medical, personal care (cosmetics, toiletries, fragrances, others), homecare, spa & wellness products, others
On The Basis Of Region: North America, Europe, Asia Pacific and ROW.
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U.S. and India dominated the export share in essential oil by 32% in the 2012 and the share decreased by nearly six percent to become 26% in the year 2016. On the other hand, China has witness the significant increase in export share from 2012 to 2016. China export share has increased by 4% from 2012 to 2016 due to increasing production capacity of essential oil in China and Hang Kong. Availability of cheap labour and variety of ingredients and improved private investments is supporting the essential oil market in France, Brazil and U.K. There is a steady growth in import of essential oil in European countries especially France, Germany, U.K. and Netherlands. Rising demand for essential oil with rise in income levels has encouraged higher imports in the Asia-Pacific and Middle-East region.
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