The Essential Oils Market size is estimated to be valued USD 10.3 billion in 2021 and is expected to reach a value of USD 16.0 billion by 2026, growing at a CAGR of 9.3% in terms of value during the forecast period. In terms of volume, the essential oils market is estimated to account for 253.2 KT in 2021 and is expected to reach at 345.4 KT by 2026, growing at a CAGR of 6.4% during the forecast period.
Factors such as an growth in awareness toward preventive healthcare, rise in demand for essential oils in food products with extended shelf life , along with increase in demand for essential oils in cosmetic applications are some of the factors driving to the growth of the essential oils market.
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Key players in this market include Cargill, Inc. (US), DuPont (US), Koninklijke DSM N.V. (Netherlands), dôTERRA International LLC (US), Givaudan SA (Switzerland), Firmenich SA (Switzerland), Young Living Essential Oils (US), Sensient Technologies Corporation (US), The Lebermuth Company, Inc. (US), International Flavors & Fragrances Inc. (US), Symrise (Germany), MANE (France), ROBERTET SA (France), Rocky Mountain Oils LLC (US), BIOLANDES SAS (France), Essential Oils of New Zealand (New Zealand), Falcon (India), Farotti (Italy), India Essential Oils (India), and Ungerer Limited (UK).
Givaudan SA (Switzerland) operates its business through two major segments, namely, flavor and fragrance. It offers beverages, savory snacks, sweet goods, dairy, and the fragrance is for personal, home and laundry care brands and prestige perfumes under its flavor segment. The company offers essential oils under the fragrance segment; the company manufactures perfumes with specialized natural ingredients, which include different natural sources such as patchouli, tonka beans, benzoin, lavender, and sandalwood.
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Koninklijke DSM N.V. (Netherlands), also known as Royal DSM, is a global science-based company engaged in health, nutrition, and materials business. The company operates through different segments, namely, nutrition, materials, innovation center, and corporate activities. Its nutrition segment includes DSM Nutritional Products and DSM Food Specialties. The nutrition & food ingredients segment of the company caters to different end-use application industries, such as food, feed, and pharmaceuticals. The company offers eubiotics under the animal nutrition & health segment.
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