The global Essential Oils Market size was valued at USD 11.41 billion in 2023. The market is projected to grow from USD 12.47 billion in 2024 to USD 27.82 billion by 2032, exhibiting a CAGR of 10.55% during the forecast period.
Aetheroleum oils are termed non-water soluble liquids comprising unstable aroma compounds of the plants. The global market is mostly driven by the robust trend of green consumerism among the growing popularity of natural products for sensory-related aspects and food preservation.
Fortune Business Insights™ mentioned this in a report titled “Essential Oils Market, 2024-2032.”
Information Source: https://www.fortunebusinessinsights.com/industry-reports/essential-oils-market-101063
Segments
Citrus to Dominate Market Owing to Increasing Popularity among Consumers
On the basis of type, the market is divided into eucalyptus, rosemary, citrus, lavender, tea tree, peppermint, and others. The citrus segment holds the largest Essential Oils Market share owing to their superior functional, availability, organoleptic characteristics, and strong demand dynamics.
Food & Beverages Segment to Hold the Market Share Owing to Increasing Demand for Oils
According to application, the market is divided into spa & relaxation, food & beverages, personal care & cosmetics, pharmaceuticals & medicinal formulations, and others. The food & beverages segment is anticipated to hold the largest share during the forecast period. The segment is expected to grow due to the addition of ethereal oils to food products that increase the sensory characteristics of various edibles, shelf-life, and storage stability.
Growing Awareness about the Product to Drive the Direct Distribution Channel Sales
As per distribution channel, the market is segmented into direct distribution, MLM distribution, and retail distribution. The direct distribution segment leads the market with the largest market share. Increasing consumer demand to feel the oil’s fragrance is expected to drive market growth.
Report Coverage-
The report offers: