LONDON--(BUSINESS WIRE)--The global essential oil market size is poised to reach USD 3.9 billion by 2023, according to a new report by Technavio, progressing at a CAGR of 8% during the forecast period.
Read the 110-page research report with TOC on "Essential Oil Market Analysis Report by application (food and beverages, recreation, and others) and geography (APAC, Europe, MEA, North America, and South America) 2019-2023" at
The market is driven by expanding applications across various industries. Also, the health benefits associated with aromatherapy with essential oils are anticipated to boost demand during the forecast period.
The applications of essential oils are increasing across various sectors, including healthcare and food and beverage industries. Essential oils are widely used as a key ingredient in various foods and beverages. The anti-inflammatory property and the presence of vitamin C in basil oil, for instance, make it suitable for use in cosmetic applications such as the production of skin creams, dental creams, and mouthwashes. Essential oils are also used in massage therapies and the manufacture of perfumes and scented beauty products. Therefore, the expanding applications of these oils across various industries will drive the growth of the market.
Furthermore, the demand for essential oils is increasing globally because of their ability to reduce anxiety, ease depression, eliminate headaches, improve digestion, and reduce pain. Essential oils also help in boosting energy levels and cognitive performance, speeding up the healing process, and strengthening the immune system. Thus, the rising demand for aromatherapy will be a key trend that will positively impact the growth of the essential oils market during the forecast period.
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The report includes detailed profiles of the leading companies & prominent vendors of the market:
- Aromaaz International
- Bath & Body Works Direct, Inc.
- Frontier Co-op.
- NOW Foods
- Young Living Essential Oils
Market Segmentation by Category and Product Types:
The Essential Oils Market can be broadly categorized into the following application segment:
- Food and beverages
Key Regions for the Essential Oils Market:
Featuring a breakdown of region-wise market shares until 2019.
- North America
- South America
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
Market segmentation analysis
- Market definition
Market size and forecast
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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