Market Research Report
Global Essential Oils Market Size study, by Product (Orange, Cornmint, Eucalyptus) by Application (Medical, Food & Beverages, Spa & Relaxation) and Regional Forecasts 2021-2027
|Global Essential Oils Market Size study, by Product (Orange, Cornmint, Eucalyptus) by Application (Medical, Food & Beverages, Spa & Relaxation) and Regional Forecasts 2021-2027|
Published: January 15, 2022
Bizwit Research & Consulting LLP
Delivery time: 2-3 business days
Global Essential Oils Market is valued approximately USD 18.6 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 7.5 % over the forecast period 2021-2027. Essential Oils is an oil which is obtained by extracted from odour of plan or other source from which the essential oil is extracted. Essential oil is also known as aetheroleum, ethereal oils or oil of the plants. Essential oil is "essential" as it contain the "essence of" plants fragrance. Essential oils are used in perfumes, cosmetics, soaps, air fresheners and other products. The demand for essential oil is mainly seen in spa as oils like peppermint, ginger, sandalwood used in improving poor blood circulation which drivers the demand for essential oils. For Instance: as per the Statista, the number of spa visits in the United States is increasing for example in year 2017 the number of people visited spa was 187 million and in year 2019 it was 192 million. And in 2019 there were 22,430 spa location in U.S which is positively impacting the essential oils market. Also, with the increasing in demand for natural product the adoption & demand for Essential Oils is likely to increase the market growth during the forecast period. However, high price of product might hinder the growth of the product in the forecasted period 2021 to 2027.
The key regions considered for the global Essential Oils market study includes Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the dominating region across the world in terms of market share owing to the growing geriatric population and promptness & affordability of urgent care Products coupled with the well-established healthcare infrastructure. Whereas, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period 2021-2027. Factors such as rising disposable income, rising incidences of injuries and improving healthcare infrastructure would create lucrative growth prospects for the Essential Oils market across Asia-Pacific region.
Major market player included in this report are:
Takasago International Corporation
Flavex Naturextrakte GmbH
Synthite Industries Ltd.
International Flavors & Fragrances Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Food & Beverages
Spa & Relaxation
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027
Target Audience of the Global Essential Oils Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
List of figures