The essential oils market worldwide is projected to grow from a value of USD 8.8 billion in 2022 to USD 15.3 billion by 2027, with a compound annual growth rate (CAGR) of 11.8%.
Essential oils are known for their natural health benefits, as they capture the essence of the plants they are derived from. The food and beverage industry is the largest consumer of essential oils, using them primarily for their color, flavor, and fragrance.
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The European market for essential oils is being driven by the increasing demand for aromatherapy cosmetics. European consumers are looking for value-added food products that use essential oils due to their versatile applications. The demand for high-quality, environmentally friendly products is also driving growth in the region. Europe is a significant importer of essential oils, making it an attractive market for suppliers and producers from developing countries. Major players in this market include Symrise, ROBERTET SA, MANE, and NHR Organic Oils.
In North America, the US is the dominant market for essential oils, with high consumption and import/export levels. Consumers in the US are increasingly interested in all-natural products due to growing awareness of health, wellness, and sustainability. This trend is leading manufacturers in the food and beverage and cosmetics industries to incorporate essential oils into their products. Natural origin of essential oils allows companies to claim their products as natural and chemical-free.
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The report includes profiles of leading companies such as Cargill, Incorporated, DSM, Givaudan, International Flavors & Fragrances Inc., Sensient Technologies Corporation, Symrise, Robertet SA, MANE, doTERRA, NOW Foods, Lebermuth, Inc., BIOLANDES, Norex Flavours Private Limited, and India Essential Oils. The report also covers their marketing and development strategies, along with their product portfolios.
