GLOBAL ESSENTIAL OILS MARKET FORECAST 2019-2027
• The essential oils are extracted from plants using the distillation, and its applications are found in perfumes, soaps, cosmetics, etc. • The global essential oils market is estimated to grow at a CAGR of 9.18% and generate a revenue of $4487.31 million by 2027. • The rising demand for natural products, shifting preferences towards natural personal care, rising demands for flavors and fragrances are the factors that stimulate the growth of essential oils market.
• The essential oils are utilized across many end-user industries. • The global personal care products sector is estimated to witness substantial growth during the forecast period. • The rising disposable consumer income, increasing working women’s population, adoption of natural products due to awareness about female hygiene and health, choice of natural products over products with chemical or synthetic content, are the factors estimated to contribute to the growth of global essential oils market. • The expensive products, the limited access to raw materials, and the lack of awareness, restrict the growth of the market. • The favorable government regulations can provide ample opportunities for the growth of the essential oils market, along with its adoption in the agrochemical sector.
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The Global essential oils market is estimated to grow at a CAGR of 9.18% and generate a revenue of $4487.31 million by 2027. Request a free sample report now!!
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The North America essential oil market is estimated to grow at a CAGR of 8.07% during the forecast period. The introduction of government initiatives, surging aromatherapy and pharmaceutical segments, the demand for ‘green solution,’ increasing consumer demands and awareness, adoption of natural products over synthetic are the factors estimated to contribute in the growth of the North American essential oils market.
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The Europe essential oils market is estimated to grow at a CAGR of 8.21% during the forecast period. The introduction of new amendments, the presence of food and beverage industries, rising disposable incomes, high standards of living, preference of chemical-free cosmetics, are the factors contributing substantially to the growth of European essential oils market.
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The Asia Pacific essential oils market is expected to project a CAGR of 8.23% during the forecast period. The rising demands for essential oils, expanding distribution networks, increasing preference for native products, expanding food and beverages industries, rising urban class population, etc. are some of the factors contributing to the growth of the Asia Pacific market.
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The rising urban population is resulting in increased consumer awareness and demands, all of which has resulted in the emergence of various players in the region. Some of the major companies are Moksha Lifestyle Products, Rocky Mountain Essential Oils, Falcon Essential Oils, West India Spices, Inc., etc.