Essential Oil & Aromatherapy Market Research Report- Forecast to 2030

Essential oil & Aromatherapy Market Information by Product Type (Essential Oils, Blended Oils, Carrier Oils and others), Flavors (Fruits, Spices, Flowers, Herbs and others), Application (Food & Beverages, Medical, Personal Care (Cosmetics, Toiletries, Fragrances and others), Homecare, Spa & Wellness Products and others) and Region Forecast to 2030

ID: MRFR/F-B & N/2386-HCR | February 2023 | Region: Global | 110 Pages         

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Essential Oil & Aromatherapy Market

Essential Oil & Aromatherapy Market Size is anticipated to reach USD 16.5 Billion by 2030, registering a CAGR of 9.5% during 2022-2030.

Segmentation
By Application Medical Beverages and Food Wellness and Spa Products Home care Personal care Fragrances Toiletries Cosmetics
By Flavours Spices Herbs Flowers Fruits
By Product Type Carrier Oils Blended oils Essential Oils
By Region North America Europe Asia-Pacific Rest of the World
Key Players
Companies Profiled   Cargill Inc. (US)    DuPont (US)    Koninklijke DSM N.V. (Netherlands)    dôTERRA International LLC (US)    Givaudan SA (Switzerland)    Young Living Essential Oils (US)    The Lebermuth Company Inc. (US)    Symrise (Germany)    Sensient Technologies Corporation (US)    Essential oils of New Zealand (New Zealand)
Drivers
Market Driving Forces   The Various Benefits of Essential Oils
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Essential Oils Aromatherapy Market Overview


The essential oils and aromatherapy market size is expected to gain a market value of USD 15.6 billion by 2030 at a CAGR of 9.5% from 2022-2030.


Essential oils are extracts of plant parts such as leaves, herbs, and bark. These are volatile, aromatic plant essences with flavoring properties that make them extremely useful in cosmetics, food and beverage, home care and cleaning, aromatherapy, and fragrance applications. Aromatherapy uses aromatic essential oils to improve the health of the body, mind, and spirit. It enhances both physical and emotional health.


Essential oils and aromatherapy have been gaining popularity recently due to the rising demand for commercial purposes. There is much demand for essential oils and aromatherapy in the healthcare and pharmaceutical sectors. People are turning to alternative treatments for major illnesses such as depression, anxiety, and stress. Essential oils are a treatment that also has aesthetic benefits. Essential oils help to enhance the mind, body, and emotional health.


Furthermore, the global essential oils and aromatherapy market has been growing due to significant players' ongoing research and development efforts. The players are introducing new products frequently. The government is also assisting manufacturers in making cleaner, more environmentally-friendly products. However, there are certain restrictions in place by the government which limit their popularity and growth. The lack of knowledge of the positive effects of essential oils aromatherapy can hamper the market growth to some extent. According to a recent survey, more than 60% of the global essential oils market is held in Europe and North America.


COVID-19 Analysis


The COVID-19 pandemic severely impacted the essential oils and aromatherapy market as it did other industries. As a result, many countries step into recession. Production and supply were halted at the beginning of the lockdown, which caused a drastic impact on the supply chain. According to an industry forecast by Mintel, the essential oils and aromatherapy market is predicted to stay strong in the next half of 2022 with slow but steady growth. Manufacturers are making tweaks to their products to improve quality and safety as well as improve their customer base.


Market Dynamic


Market Drivers


The essential oil and aromatherapy industry is projected to observe significant growth in the upcoming years. One of the major drivers of the market is the increasing demand for natural and invasive procedures across the world. Also, the market has observed a significant rise in the number of skin treatments, which is one of the major factors. Aromatherapy also has medicinal benefits. It is highly effective in treating depression, anxiety, and stress. Other than that, it is also helpful in reducing the addiction to drugs. The above factors are attracting essential oil and aromatherapy market users in large numbers.


Restraints


There are many restraints in the essential oil and aromatherapy industry. The essential oils are available in a very limited amount in some regions. Alongside, the essential oil products are highly expensive. Also, the stricter rules and laws by the government increase the chance of slow growth in the upcoming period. The lack of knowledge regarding the positive effects of aromatherapy can hamper market growth to some extent.


Challenges


The amount of supply is very limited as compared to the essential oils and aromatherapy demand. Due to high competition, the price of the product can increase in the upcoming years.  Also, the availability of other cheap additives can negatively affect market growth.


Opportunities


The essential oils and compounds are crucial to manufacture several new fragrances and perfumes. Technological advancements are in the essential oils and aromatherapy industry will create new opportunities for other industries to flourish because essential oils are also used in skincare products, perfumes, haircare, etc. 


Cumulative Analysis


Due to increasing essential oil and aromatherapy market demand, its value will increase in the upcoming period. It has various advantages and uses for treating several psychological and physical diseases. The global essential oils and aromatherapy industry is expected to have a Compound Annual Growth Rate (CAGR) of 9.5%. It is expected that the market will bloom and will expand up to USD 16.5 Billion by the year 2030.


Value Chain Analysis


According to the essential oil and aromatherapy market analysis, the market will be beneficial for the key players. It is projected that there will be a huge demand for invasive and natural products for several treatments. Due to increasing urbanization and busy lifestyles, the workload and daily pressure lead to stress among people. Aromatherapy can emerge as an effective solution for the treatment in the forthcoming years.


Segment Overview


The global essential oil and aromatherapy market size is segmented into applications, flavors, and product types.


Based upon application, the essential oil and aromatherapy industry is further categorized into personal care such as perfumes, toiletries, cosmetics etc., wellness and spa products, beverages and food, and others.


Based upon flavors, the essential oils and aromatherapy industry is divided into flowers, fruits, spices, herbs, and others. It is evaluated that the category of fruits will comprise a substantial share in the global market. There is a huge demand for fruit flavor among several manufacturers and consumers.


Based upon the product type, the essential oil and aromatherapy industry is further divided into blended oils, essential oils, and carrier oils. The segment of essential oils is projected to observe significant contribution in the essential oil and aromatherapy market growth.


Regional Analysis


Geographically the global essential oils and aromatherapy industry is divided into North America, Asia-Pacific, Europe, and the Rest of the world. It is estimated that the North American region will hold a substantial stake in the global market. It is because of the rising awareness among the consumers regarding several positive effects and benefits.


Europe is the second-largest region to hold a significant essential oil and aromatherapy market share. The presence of key players in various developed countries like Germany, the UK, France, Netherlands, and others is one of the major factors. The Asia-Pacific region is also expected to have steady growth and generate more essential oil and aromatherapy market revenue.


The massive demand for wellness and spa for relaxation among the consumers in the developed countries is beneficial for market growth in the forthcoming years.


Competitive Landscape


Various market players are trying to expand their business foothold and generate more revenue. They use various strategies like collaboration, acquisition, joint ventures to saturate the global market. Similarly, Mountain Rose Herbs announced its partnership with many companies to expand its business across the world.


Here is the list of some major key players-



  • Rocky Mountains Oil (U.S.)

  • Ryohin Keikaku Co., Ltd. (Japan)

  • Blossom Kochhar Aroma Magic (India)

  • doTerra (U.S.)

  • G Baldwin & Co (U.K.)

  • Thann (U.S.)

  • G Baldwin & Co (U.K.),

  • Plant Therapy, Inc (U.S.)

  • Mountain Rose Herbs (U.S.),


Recent Developments



  • In July 2022, Plant Therapy Inc. launched three new products of essential oils. The addition of the new products is pointed at increasing its business portfolio and brand awareness.

  • In September 2022, Blossom Kochhar Aroma Magic launched Neem & Tea Tree Range, which is rich in minerals, antioxidants, vitamin C, and antimicrobial solid compounds and properties.

  • In December 2021, Mountain Rose Herbs announced the opening the new mountain rose aroma bar.


Report Overview


The report overview of global essential oils and aromatherapy industry are as follows-



  • Market Overview

  • COVID-19 Analysis

  • Market Dynamics

  • Value Chain Analysis

  • Market Segmentation

  • Competitive landscape

  • Developments by key players


Report Score and Segmentation


The score of the report is to provide insight into the essential oil and aromatherapy industry. This report highlights the future value and strengths of the market. It also provides brief information regarding developments by the key players.


Segmentation


By application



  • Medical

  • Beverages and Food

  • Wellness and Spa Products

  • Home care

  • Personal care

  • Fragrances

  • Toiletries

  • Cosmetics


By Flavours



By Prouct Type



  • Carrier Oils

  • Blended oils

  • Essential Oils



Report Scope:

Report Attribute/Metric Details
  Market Size    USD 16.5 Billion
  CAGR    9.5% (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units    Value (USD Billion)
  Report Coverage    Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Product Type, By Flavors, By Application, and Region
  Geographies Covered    North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Cargill Inc. (US), DuPont (US), Koninklijke DSM N.V. (Netherlands), dôTERRA International LLC (US), Givaudan SA (Switzerland), Young Living Essential Oils (US), The Lebermuth Company Inc. (US), Symrise (Germany), Sensient Technologies Corporation (US), Essential oils of New Zealand (New Zealand)
  Key Market Opportunities   Technological advancements are in the essential oils and aromatherapy industry will create new opportunities
  Key Market Drivers   The Various Benefits of Essential Oils


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Frequently Asked Questions (FAQ) :

The major factors that are driving the global essential oil and aromatherapy market are the rising awareness among customers. Also, the various benefits of essential oils are one of the major factors.

It is evaluated that the global market of essential oil and aromatherapy industry will touch USD 16.5 Billion by the year 2030.

Aromatherapy is a treatment procedure in which essential oils are obtained from medicinal plants for better health and psychological well-being.

Some of the key players in the essential oil aromatherapy market are- Symrise AG, Now Foods, G. Baldwin & Co. doTerra, Giavuduan international SA, Phoenix Aroma & Esential Oils LLC, Rocky Mountains Oil, Biolandes SAS, etc.

Diseases related to cough, digestive problems, common cold, acne, etc., can be treated through aromatherapy.

It is evaluated that the North American region will dominate the essential oils and aromatherapy industry in the coming years.

It is expected that the global essential oil and aromatherapy industry will grow at a 9.5% CAGR during the forecast period.