Europe Essential Oils Market Size was valued at USD 2.2 Billion in 2022. The Essential Oils market industry is projected to grow from USD 2.32 Billion in 2023 to USD 3.50 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.30% during the forecast period (2024 - 2032). The rise of interest in aromatherapy is one of the major market drivers of the essential oils market in Europe. The market is expanding more quickly as customer demand for organic products rises.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The greatest market for cosmetics and personal care goods is Europe, which has seen significant growth in the industry in recent years. The United Kingdom is the next most important region in the market under study, after Germany and France. Essential oils are primarily intended, from the standpoint of the consumer, to safeguard health, increase self-worth, and improve general well-being. The extraction process used to generate the essential oil and the quality of the raw materials are key factors in the safe usage of essential oils in cosmetic products. As per the Cosmetic Europe Personal Care Association, Germany commanded the highest market share in the European cosmetic category during the current year. There is a great chance for fragrance producers to grow their clientele and revenue by reaching out to cosmetic product producers in the area, as scents play a major role in determining consumers' preferences for cosmetic and personal care goods.
Furthermore, the leading companies in the European essential oil market have the majority of the market shares, indicating market consolidation in the area and driving the market CAGR. Sensient Technologies Corporation, Farotti SRL, doTerra, Young Living, and Givaudan are a few of the notable companies active in the European sector. Entry barriers are substantial and are expected to keep market participants from competing fiercely due to technological developments and the cost of capital. Big firms are fighting for new product development in terms of strategy, putting a lot of emphasis on R&D to help them gain a foothold in the European market. Thus, driving the Europe Essential Oils market revenue.
The Europe Essential Oils market segmentation, based on Product Type, includes Lavender Oil, Orange Oil, Eucalyptus Oil, Peppermint Oil, Spearmint Oil, Lemon Oil, Rosemary Oil, Geranium Oil, Tea Tree Oil, and Other Product Types. The lavender oil segment dominated the market. The essential oil known as lavender oil is extracted through steam distillation from the spikes of several varieties of lavender. Despite being native to France and the western Mediterranean, lavender is now grown all over the world. There are several ways that lavender oil is good for your skin. It might minimize wrinkles, help even out skin tone, and lessen acne. It can even be used to cure other conditions, like enhancing digestion and hair health.
The Europe Essential Oils market segmentation, based on Application, includes Food and Beverages, Aromatherapy, Pharmaceuticals, Cosmetics and Personal Care, and Other Applications. The cosmetics and personal care category generated the most income. For skincare, haircare, and fragrances, more and more consumers are looking for natural and organic products. Because they are thought to be more environmentally friendly and natural than synthetic components, essential oils derived from plants are in high demand for use in fragrances and cosmetics, which has led to a notable growth in the essential oils business.
Figure 1: Europe Essential Oils Market, by Application, 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Organic and natural products are becoming more and more popular among consumers. This style is appropriate for essential oils since they are organic plant extracts. They are employed in aromatherapy, cosmetics, and complementary medicine. In nations like Germany and France, there is a growing need for personal hygiene and cosmetics. Essential oils are used in cosmetics, skincare products, and hair care products. Their application in other therapies, such as aromatherapy, is also expanding. In the flavoring and fragrance business, essential oils are crucial ingredients. They improve the flavor and scent of food and drinks. Growth in the market is aided by consumer demand for flavored goods, such as citrus oils. Customers are looking for products with wellness benefits as they grow more health-conscious.
Figure 2: EUROPE ESSENTIAL OILS MARKET SHARE BY REGION 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Leading market players are putting a lot of money into R&D to expand their product ranges, which will help the essential oils industry keep growing. In addition, market players are engaging in a range of calculated initiatives to increase their presence, with important market developments involving the release of new products, contracts, mergers and acquisitions, larger investments, and cooperation with other institutions. To grow and endure in an increasingly cutthroat and dynamic market, the Essential Oils industry must offer cost-effective items.
Major players in the Essential Oils market are engaging in research and development activities in an effort to boost market demand, including Sensient Technologies Corporation, Givaudan, Eden Garden, Young Living, Farotti Essenze, Do Terra, First Natural Brands Ltd, KMI Brands6, Rocky Mountain Essential Oils, and Roberta SA.
Europe Essential Oils Industry Developments
May 2022: KMI Brands entered the UK wellness sector with the launch of Plantopia, a wellness brand that also sells essential oils. The company behind Noughty Hair & Body Care is KMI Brands, which also holds the license to distribute Ted Baker toiletries and fragrances.
February 2022: Givaudan purchased Myrissi in France. Myrissi's background in artificial intelligence will help Givaudan recommend innovative organoleptic techniques to clients, facilitating Givaudan's long-term fragrance (including essential oils) & beauty strategy.
December 2021: First Natural Brands, a West Sussex-based manufacturer of essential oils and wellness products, revealed its intention to go global with the support of a EUR 6.25 million finance package from Santander UK.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 2.2 Billion |
| Market Size 2023 | USD 2.32 Billion |
| Market Size 2032 | USD 3.50 Billion |
| Compound Annual Growth Rate (CAGR) | 5.30% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019-2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, Application, and Region |
| Region Covered | Europe |
| Countries Covered | Germany, France, UK, Italy, Spain, Sweden, Denmark, Luxembourg, Norway, Austria, and Rest of Europe |
| Key Companies Profiled | Sensient Technologies Corporation, Givaudan, Eden Garden, Young Living, Farotti Essenze, Do Terra, First Natural Brands Ltd, KMI Brands6, Rocky Mountain Essential Oils, and Roberta SA |
| Key Market Opportunities | Essential oil in powder form to generate fresh prospects |
| Key Market Dynamics | The cosmetics and fragrance industries have a growing need for essential oils. Growing consumer desire for products with clean labels and natural ingredients |
Frequently Asked Questions (FAQ) :
In 2023, the market for essential oils in Europe was estimated to be worth USD 2.32 billion.
From 2024 to 2032, the market is anticipated to expand at a compound annual growth rate of 5.30%.
The market's leading companies are Roberta SA, First Natural Brands Ltd., KMI Brands6, Farotti Essenze, Do Terra, Eden Garden, Young Living, Sensient Technologies Corporation, and Givaudan.
In 2023, the market was dominated by the Lavender Oil category.
The market share leader was the Cosmetics and Personal Care category.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Assistant Manager - Research High acumen in analyzing complex macro & micro markets with more than 6 years of work experience in the field of market research. by implementing her analytical skills in forecasting and estimation into market research reports, she has expertise in packaging, construction, and equipment domains. she handles a team size of 20-25 resources and ensures smooth running of the projects, associated marketing activities, and client servicing.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
