According to the recent study the essential oil marketis projected to grow at a CAGR of 8%-9% from 2020 to 2025. Growth in this market is primarily driven byincreasing demand for aromatherapy, rising demand for food and beverage and cosmetic applications, and growing demand for natural ingredients.
Browse XX figures / charts and XXtables in this 150 -page report to understand trends, opportunities and forecast in essential oilmarketby application (food and beverage, cosmetic and toiletries, aromatherapy, home care, and health care), product type (orange oil, eucalyptus oil, cornmint oil, peppermint oil, citronella oil, lime oil, lemon oil, clove oil, spearmint oil, and others), method of extraction (distillation, carbon dioxide extraction, cold press extraction, solvent extraction, and others), and region (North America, Europe, Asia Pacific, and Rest of the World).
“Orange oil market is expected to remain the largest segment during the forecast period.”
Based on product type, the essential oilmarket is segmented intoorange oil, eucalyptus oil, cornmint oil, peppermint oil, citronella oil, lime oil, lemon oil, clove oil, spearmint oil, and others. Lucintel forecasts that the orange oilis expected to witness the largest segment over the forecast period due to its various properties of being eco-friendly and non-greasy making it suitable for the usage in various applications.
“Within the essential oilmarket, the food and beverage segment is expected to remain the largest application”
Based on application, the food and beverage segment is expected to witness the largest application over the forecast period due to rise in adoption of essential oil as a natural ingredient in preparation of food and beverage.
“Europewill dominate the essential oilmarket in near future”
Europeis expected to be the largest region over the forecast periodand Asia Pacific is expected to witness the highest growth over the forecast period due to the rise in awareness about functionalities, health benefits, and applications of essential oils in the region.