Essential Oils Market size is set to surpass USD 15.0 billion by 2026; according to a new research report by Global Market Insights Inc.
The essential oils industry size should witness significant growth from 2019 to 2026 due to increasing demand for plant-based oils for pharmaceutical industries for treatment and massage therapies. Wide range of these oils are promoting aromatherapy benefits including heathy immune system, improvement in muscle pain and insomnia correction.
Rapid demand among geriatric population suffering through health diseases and looking for potential herbal treatments to avoid the side effects of pharmaceutical drugs will spur demand for essential oil products. Citrus oils, lavender, rosemary and sandalwood also aids in curing various mental issues such as depression and anxiety. Growing count of spa and relaxation centers coupled with consumer inclination towards health and wellbeing will surge product demand in near future.
Proliferation of lemon oil in food & beverage industry to accentuate essential oils market growth
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Lemon oil consists of naturally produced volatile mixtures with numerous chemical properties. Versatility of the essential oils as flavoring, aromatic and food preservation capabilities enhances its penetration in the food and beverage industry growth. Lemon oil is natural plant oil and increasingly embraced to flavor deserts, chocolate crafting, candies and savory foods including stews and sauces.
As per U.S. FDA, Lemon oil is designated as edible food grade oil and registered as safe ingredient for the flavor industry. Listing under GRAS (Generally Recognized as Safe) and negative consumer perception of synthetic derivatives has augmented lemon oil application for food preservation purposes. Antimicrobial property of lemon oil has enhanced its adoption in food spoilage control and limit bacterial growth without affecting its sensory attributes.
Application of EO’s in preservation of food products is limited owing to their strong aroma coupled with consumer demand for clean label might challenge the industry growth. Technological advancement including combining EO’s with alternative preservation technologies is anticipated improve microbial, sensory and perishable quality of food products.
Browse key industry insights spread across 280 pages with 204 market data tables and 32 figures & charts from the report, “Essential Oils Market share By Application (Orange oil, Lemon oil, Eucalyptus oil, Clove oil, Peppermint oil, Jasmine oil, Rosemary oil, Cornmint oil, Citronella oil, Geranium, Spearmint oil, Lavender oil, Tea tree oil and others), By Application (Food & beverage, Aromatherapy, Cosmetics & Toiletries, Pharmaceuticals, Cleaning & Home care, Animal Feed, Fragrances and Others) Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 – 2026 ” in detail along with the table of contents:
Alternative and complementary therapies to spur essential oil demand for aromatherapy
Aromatherapy technology surpassed a market revenue share of 17.0% in 2018. Aromatherapy is an alternative medicine therapy and garners widespread applications in treatment of various disorders. Integration of essential oils in skin care, hair care and facial products has gained momentum and projected to boost cosmetic aromatherapy industry trends. Aromatherapy cures acne burnt scars and rejuvenates healthy cells which are often damaged by the pharmaceutical treatments.
Aromatherapy is witnessing significant growth since essential oil is utilized as a therapautic agent. Inhalation and the external massage of these oils maintains mental and physical balance by providing relief from stress. Inhalation activates the receptor cells in nose which transmits signals to brain and releases neuro messengers to link nervous system and body parts and provide feeling of relief.
Supportive agriculture practices accelerating business growth in the Asia Pacific
Asia Pacific is the fastest growing region in the essential oils market with a revenue share of above 25% in 2018. Widespread adoption of sustainable agricultural practices, primarily in India has improved lemon, orange and mint cultivation for oil production. Moreover, rising set up of spa, health and wellness centers coupled with improving consumer spending power will spur the industry growth in this region.
Essential oils market outlook is highly competitive and moderately fragmented with global players including Young Living, Firmnich, Symrise, Bio Landes, Frutarom, DoTerra and Flacon control a large share of overall market size.