According to a new market report by Lucintel, the future of the essential oil market looks promising with opportunities in the food and beverage, cosmetics and toiletries, aromatherapy, home care, and health care industries. The essential oil market is expected to grow with a CAGR of 8% from 2019 to 2024. The major growth drivers for this market are increasing consumer adoption of alternative medical treatments like aromatherapy over conventional pharmaceutical drugs, growing reliability over natural and organic ingredients in cosmetic formulations, and high demand from its end user industries.
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In this market, orange oil, lemon oil, lime oil, peppermint oil, corn mint oil, and eucalyptus oil are the major product types. Orange oil is the largest segment due to increasing utilization in end-use industries such as cosmetics.
Distillation, carbon dioxide extraction, cold press extraction, and solvent extraction are the methods of extraction in the essential oil market.
North America is the largest market of essential oil market over the forecast period.
Cargill, E. I. Du Pont De Nemours and Company, Koninklijke DSM, Doterra International, Givaudan, Firmenich, Young Living Essential Oils, Sensient Technologies Corporation, The Lebermuth Company, and International Flavors & Fragrances are among the major manufacturers in the essential oil market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the essential oil market by product type, method of extraction, end use, and region. Lucintel has prepared a comprehensive research report titled "Essential Oil market 2019-2024: Trends, Forecast, and Opportunity Analysis". This Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the essential oil market by product type, method of extraction, end use, and region as follows:
By Product [$M shipment analysis for 2013 – 2024]:
Orange Oil
Eucalyptus Oil
Corn Mint
Peppermint
Citronella
Lemon Oil
Lime Oil
Spearmint Oil
Others
By Method of Extraction [$M shipment analysis for 2013 – 2024]:
Distillation
Carbon Dioxide Extraction
Cold Press Extraction
Solvent Extraction
Others
By End Use [$M shipment analysis for 2013 – 2024]:
Food and Beverage
Cosmetics and Toiletries
Aromatherapy
Home Care
Health Care
Others
By Region [$M shipment analysis for 2013 – 2024]:
North America
United States
Canada
Mexico
Europe
Asia Pacific
Rest of the World
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/essential-oil-market.aspx or helpdesk@lucintel.com.
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