Market Insight

Essential oil & Aromatherapy Market is a concentrated volatile aromatic oil derived from plants and animal sources. Aromatherapy is the use of essential oils and other aroma compounds for improving psychological or physical well-being. Growing Awareness and Use as Complimentary Therapy Is the Prime Determinant of the Market Aromatherapy is offered alongside standard treatment for a variety of diseases such as pain management in labor, anxiety, short-term memory, relaxation, hair loss, and eczema-induced itching, post-operative nausea and vomiting, behaviors management in dementia, and symptom relief in cancer.

Growing awareness and psychometric changes resulting in increasing popularity of aromatherapy to promote psychological well-being, relaxation therapy in psychological disorders and as a symptomatic treatment in ailments such as digestive problems, common cold, cough, burns, acne, and others. Growing Acceptance of Cosmetics Led by Skin Treatments Is a Prime Determinant of the Market. Rising adoption of cosmetics and unconventional alternative medicine has resulted in market growth.

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Increasing adoption of aromatherapy for skin treatments coupled with the rising income of women has a positive impact on its market. Essential oil & aromatherapy is being increasingly used for insomnia, menstrual problems, acne and others. Low side effects are seen as another driver of the market.

Lack of Scientific Validation, Concerns of Adverse Effects and Standardization May Hamper Market Growth

There is a lack of scientific evidence regarding the effectiveness and efficacy of aromatherapy and no medical evidence that it can prevent or cure any disease. Aromatherapy carries a risk of some adverse effects such as poisoning, skin sensitivity reactions, liver damage, and seizures. Thus, lack of evidence of its therapeutic benefit, and growing safety concerns has discredited the practice.

Lack of standards for essential oils and growing stringency of the Food Chemicals Codex (FCC) is another restraint on the market.

Top Key Players

The prominent players profiled in the Global Essential Oil & Aromatherapy Market are

• Ryohin Keikaku Co., Ltd. (Japan)
• Rocky Mountains Oil (U.S.)
• Young Living Essential Oils (U.S.),
• G Baldwin & Co (U.K.),
• Mountain Rose Herbs (U.S.),
• doTerra (U.S.),
• Thann (U.S)

Segments

The global essential oil & aromatherapy market is segmented by product type, flavors, application, and regions so that the reader will have a better understanding of the market.

Based on the product type, the market is segmented into essential oils, blended oils, carrier oils and others. Essential oils account for the most significant share of the market due to their high value.

Based on the flavors, the market is segmented into fruits, spices, flowers, herbs, others. Fruits based flavors account for the most significant share of the market.

Based on the application, the market is segmented into food & beverages, medical, personal care (cosmetics, toiletries, fragrances, others), homecare, spa & wellness products, and others. Personal care segment accounts for the significant market share.

Based on regions, the market is segmented into North America, Europe, Asia Pacific, Middle East, and Africa.

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Regional Analysis

North America accounts for the significant share of the global essential oil & aromatherapy market, followed by Europe. The U.S., Germany, France, U.K., and Netherlands are the major importers of essential oil & aromatherapy owing to demand for relaxation therapy and spa’s and wellness centers.

The developing regions of Asia Pacific, especially China and India are the major exporters of essential oil & aromatherapy. The Middle East and Africa is dominated by the Gulf economies of Saudi Arabia, UAE, Kuwait, and Qatar.

Market Insight

Essential Oil Market is estimated to demonstrate 7.5% CAGR during the forecast period (2017-2024). The market is estimated to garner USD 18,956 million owing to the health benefits offered by essential oils. Also referred to as aetherolea, volatile oils, or ethereal oils, essential oils are generally derived from stems, leaves, bark, flowers, roots, or other parts of a plant. They are obtained from several plants and herbs like eucalyptus, orange, peppermint, corn mint, lemon, citronella, spearmint, and lime clover leaf by using distillation methods such as water distillation and steam. Essential oils also comprise real essence and volatile aroma compounds of the plant from which it is derived.

Market Potential and Pitfalls

With the augmenting consumer preference for organic and natural products right from cosmetics to food items, the market for essential oil is predicted to flourish. This has further led the manufacturers to develop products containing natural additives. Thereby, there has been an increase in the usage of essential oils among these industries. Additional factors promoting the market growth are improved living standard in the emerging economies along with the augmenting disposable income. With augmenting awareness regarding health benefits associated with the use of naturally sourced oils coupled with the accelerating number of people shifting towards aromatherapy, the global market for essential oil is likely to experience an upthrust. Moreover, increasing R&D activities coupled with the innovation in the extraction techniques are likely to bolster the market growth in the coming years.

On the flip side, the high price of the essential oils, limited availability of raw materials, and availability of synthetic substitutes are some of the top barriers considered to vitiate the growth during the assessment period. Despite several hiccups, favorable regulations along with government support are anticipated to create lucrative opportunities for the market growth worldwide.

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Leading Players

The prominent players operating the Global Essential Oil Market are

• Shiv Sales Corporation (India),
• Sydney Essential Oils (Australia)
• Shaanxi GUANJIE Technology Co. Ltd (India)
• The LEBERMUTH Co., Inc. (U.S.),
• DOTERRA (U.S.),
• Young Living (U.S.),
• BIOLANDES (France)

Industry Updates

January 28, 2019: A team of researchers from the University of Zaragoza and State University of Maringa in Brazil has recently explored the usage of several essential oils along with blends of essential oils in the diet of feedlot-finished heifers.

Segment Analysis

The global essential oil market has been segmented based on type, ingredients, and application.

By mode of type, the global essential oil market has been segmented into compound essential oil, pure essential oil, and others.

By mode of ingredients, the global essential oil market has been segmented into corn mint, orange, eucalyptus, cedarwood, lavender, chamomile, citronella, clary sage, citrodora, litsea cubeba, basil, peppermint, cloves leaf, and others. Among these, the orange oil is considered to experience the fastest growth rate and is likely to retain its dominance throughout the appraisal period. End-use industries like cosmetics are extensively using orange essential oils in order to improve the product value and sensory appeal.

By mode of application, the global essential oil market has been segmented into aromatherapy, fragrance & flavor, cosmetics, pharmaceutical, and others.

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Regional Insights

Geographically, the Essential Oils Market span across regions namely, Europe, America, Asia Pacific, and the Rest-of-the-World (RoW).

The European region is estimated to showcase a significant growth rate owing to the presence of organizations such as the European Federation of Essential Oils which has contributed to the market growth in this region. The organization safeguards and promotes the interest of the stakeholders and also involves in discussion with the European Parliament and commission in order to amend or introduce legislation regarding such essential oils. Such factors are highly influencing the market growth throughout the appraisal period.

Among all the regions, the Asia Pacific region is estimated to dominate the global essential oils market with a share of 58.2%. The growth in this region can be credited to the presence of huge population coupled with untapped markets which attract the attention of the key players in order to expand and establish their distribution and operational facilities in this region. With the economic growth of developing countries such as India and China, there is an increase in the urban class population, which is further fostering the sales of essential oils in this region. Additionally, the augmenting demand for essential oils from fragrance and flavours sector is predicted to promote the market growth to a large extent.

Global Essential Oils Market: Demand Analysis and Growth Forecast

The lucrative demand for latest aromatic products such as allergy-elevating sprays, and kid-friendly blemish ointments from the pharmaceutical industries are contributing huge revenues in the global essential market. As per the findings of a newly published market research report by IndustryARC, the essential oils market size was around $7.0 billion to $7.5 billion in 2018. This market is poised to grow at a healthy CAGR of around 8%-9% during the forecast period 2019-2025. One of the major factors escalating the growth of the essential oils market is the rising consumer preference for natural and organic products in food and beverage industries. For instance, the market size of organic food and beverages in India was valued$54.6 million in 2017, according to the global organic trade guide report. Owing to the rise in number of diseases such as diabetes, blood pressure, and obesity in the fast paced lifestyles, essential oils marketplace is primed to offer strong return of investments in the near future. This information is extracted from a business intelligence report from IndustryARC titled “Essential Oils Market: By Product (Orange, Corn Mint, Eucalyptus, Citronella, Peppermint, Lemon, Clover Leaf, Lime, Spearmint); By Application (Medical, Food & Beverage, Spa & Relaxation, Cleaning & Home) & By Region – Forecast (2019 - 2025).”

Browse 53 Market Tables, 176 Figures spread through 155 slides and an in-depth TOC “Essential Oils Market (2019 - 2025)”

Essential Oils Market: Leading Segments

Europe holds dominating share in the global essential oils market, which was accounted around 34% to 40% in 2018.This dominance is primarily due to the ever-increasing sales of personal and beauty care products in this region. According to the report of Cosmetics Europe- the personal care association, the market size of the aforementioned products was valued €77.6 billion in 2017. Besides, augmenting disposable income and amended standards of living are the other factors enhancing the growth of the essential oils market in this region.

Orange oil is the major product segment, which held a maximum share in the global essential oils market in 2018 and is projected to grow with a CAGR of around 6% to 7% over the forecast period 2019-2025. Augmented demand to reduce the risks of stress related diseases is prime reason for the demand of orange oil. Around 71% of adults in the UK had experienced stress and anxiety frequently in 2018, as per the report of Mental Health Organization. This led to increase the sales of products constituting orange oil as the key ingredient, which acts as an antidote in aromatherapy, to reduce anxiety and depression.

Essential Oils Market Trends

Widespread adoption of aromatherapy products such as release oil, which is used for natural remedies is one of the emerging trend in the essential oils market. Release essential oil mainly helps to stimulate sense of peace in the human body by controlling stress and anxiety.
Essential oil necklace is the latest advancement blooming the essential oil market, which is a typical aromatherapy necklace. This necklace mainly contains young living essential oil which is a hydrophobic liquid used for spreading fragrances all day long. Thus, it is specifically helpful in reducing stress and anxiety.
Super-clear zit balm is the latest product-type in the essential oils market. This product is specially designed for kids, which is used for the curing breakouts caused due to dry skin.

Essential Oils Market: Competitive Landscape

Some of the major companies identified in the report that are currently producing hydrophobic ethereal oils and holding majority shares in the global essential oils market are: Young Living Essential Oils, doTerra, Biolandess SAS, Essential Oils of New Zealand, The Lebermuth Company, NOW Foods, India Essential Oils, Flavex Naturextrakte GmbH, Ungerer and Company, Inc., and West India Spices Inc.

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