LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global essential oil market and the market is poised to grow by USD 3.9 billion during 2019-2023 at a CAGR of over 8% during the forecast period. Request Free Sample Pages
Read the 110-page research report with TOC on "Essential Oil Market Analysis Report by Application (Food and beverages, Recreation, and Others), by Geography (APAC, Europe, MEA, North America, and South America), and Segment Forecasts, 2019 - 2023".
The market is driven by the expanding applications of essential oil across various industries. In addition, the increase in new product launches is anticipated to further boost the growth of the essential oil market.
Essential oil is extensively being used in the healthcare and food and beverages industries. It is used as a key ingredient in cosmetic products as well as in cherry cola. It is an excellent skin remedy for sores, small wounds, and irritations as it has anti-inflammatory properties. In addition, essential oils such as coriander essential oil, geranium essential oil, hinoki essential oil, and lavender essential oil are used in massage therapies. Thus, the expanding applications of essential oils across various industries are expected to drive market growth during the forecast period.
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Major Five Essential Oil Market Companies:
Aromaaz International
Aromaaz International is headquartered in India and offers various types of oils such as natural flower oils, floral absolute oils, spice oils, essential oils, carrier oils, base oils, and certified organic oils. The company also offers essential oils such as armoise essential oil and arachis essential oil.
Bath & Body Works Direct, Inc.
Bath & Body Works Direct, Inc. is headquartered in the US and offers products through the following business units: Body care, Hand soaps, and Home fragrance. The company offers eucalyptus essential oil and lavender essential oil.
Frontier Co-op.
Frontier Co-op. is headquartered in the US and operates under various business segments, namely Spices and seasonings, Herbs and teas, and Others. The company offers essential oils such as lavender, lemon, eucalyptus, frankincense, various essential oil blends.
NOW Foods
NOW Foods is headquartered in the US and offers products through the following business segments: Supplements, Beauty and health, Essential oils, Sports nutrition, Natural foods, and Pet health. The company offers different essential oils such as hyssop, marjoram, frankincense, rosemary, and eucalyptus.
Young Living Essential Oils
Young Living Essential Oils is headquartered in the US and offers products through the following business segments: Essential oils and blends, Home, Wellness, Beauty, and Balance. The company offers essential oils such as cinnamon bark, clove, blue tansy, carrot seed, cedarwood, and basil.
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Essential Oil Application Outlook (Revenue, USD Million, 2019 - 2023)
- Food and beverages
- Recreation
- Others
Essential Oil Regional Outlook (Revenue, USD Million, 2019 - 2023)
- APAC
- Europe
- MEA
- North America
- South America
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