Essential Oil Market 2019
The essential oil market is anticipated to reach USD 16,172.2 million by 2026. In 2017, the orange essential oil segment dominated the global market, in terms of revenue. Europe is expected to be the leading contributor to the global market revenue during the forecast period.
A significant increase in disposable income, changing lifestyles, and initiatives by market players to promote healthy lifestyles drive the growth of this market. Other driving factors include increasing incidences of stress and anxiety, growing inclination towards use of natural and organic products, and increasing awareness regarding physical and mental health. The use of essential oils in various applications such as food and beverages, healthcare, pharmaceutical, cosmetics, and aromatherapy further propel the market growth. Increasing demand in developing nations is expected provide numerous growth opportunities to the market players during the forecast period.
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There has been a shift towards e-commerce and consumers are increasingly purchasing essential oils through online platforms. The variety of choices available coupled with ease of purchase offered by online platforms encourages consumers to buy essential oils online, supplementing the growth of the market.
Improvement in lifestyle due to rise in income level, especially in the developing countries of Asia-Pacific fuels the demand for essential oils market. Factors such as increase in per capita income and changes in consumer behavior towards physical and mental health are expected to accelerate the adoption of essential oils in the coming years.
Europe generated the highest revenue in the market in 2017, and is expected to lead the global market throughout the forecast period. The high geriatric population in the region coupled with high disposable income drives the market growth. The high demand of essential oils in food & beverages and cosmetic products support the market growth in the region. Asia-Pacific is expected to grow at the highest CAGR during the forecast period owing to increasing disposable incomes in developing countries of this region, rising awareness about benefits of essential oils, and rising demand of essential oils from healthcare sector in this region.
The different types of essential oils in the market include lemon, lime, orange, corn mint, eucalyptus, peppermint, citronella, clove leaf, and others. In 2017, the orange essential oil segment accounted for the highest market share. The increasing demand for orange essential oil is owing to properties such as anti-inflammatory, antidepressant, and antispasmodic. Use of orange essential oil has a calming effect on mind and body, and is used in various cosmetics products. It is also used in various foods and beverages to enhance flavor.
The well-known companies profiled in the report include Dōterra International LLC., Rocky Mountain Oils, LLC, Naturals Together, Robertet SA, Now Health Group, Inc., Biolandes SAS, Falcon Essential Oils, Ungerer Limited, The Lebermuth Company, Flavex Naturextrakte GmbH, Farotti Srl, and E. I. Du Pont De Nemours and Company among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
Table Of Contents – Major Key Points
1. Overview and Scope
1.1. Research goal & scope
1.2. Research assumptions
1.3. Research Methodology
1.3.1. Primary data sources
1.3.2. Secondary data sources
1.4. Key take-away
2. Executive Summary
2.1. Market Definition
2.2. Market Segmentation
3. Essential Oil Market Insights
3.1. Essential Oil – Industry snapshot
3.2. Essential Oil – Ecosystem analysis
3.3. Essential Oil Market Dynamics
3.3.1. Essential Oil – Market Forces
188.8.131.52. Essential Oil Market Driver Analysis
184.108.40.206. Essential Oil Market Restraint/Challenges analysis
220.127.116.11. Essential Oil Market Opportunity Analysis
3.3.2. Industry analysis – Porter’s five force
18.104.22.168. Bargaining power of supplier
22.214.171.124. Bargaining power of buyer
126.96.36.199. Threat of substitute
188.8.131.52. Threat of new entrant
184.108.40.206. Degree of competition
3.3.3. Essential Oil Market PEST Analysis, 2017
3.3.4. Essential Oil Industry Trends
3.3.5. Competitive Ranking Analysis
4. Essential Oil Market Size and Forecast, 2017-2026 by Product Type
4.1. Key Findings
4.5. Corn mint
4.9. Clove leaf
5. Essential Oil Market Size and Forecast, 2017-2026 by Distribution Channel
5.1. Key Findings
5.2. Offline Stores
5.3. Online Platforms
6. Essential Oil Market Size and Forecast, 2017-2026 by Application
6.1. Key Findings
6.2. Healthcare and Pharmaceutical
6.4. Food and Beverages
6.5. Spa and Wellness
7. Essential Oil Market Size and Forecast, 2017-2026 by Region
7.1. Key Findings
7.2. North America
7.3.5. Rest of Europe
7.4.4. Rest of Asia-Pacific
7.5. Latin America
7.6. Middle East & Africa
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