DUBLIN, DUBLIN -- (SBWIRE) -- 03/08/2021 -- Essential Oils Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)

Key Drivers

The enhanced standard of living in emerging countries, the rising disposable income among consumers, and the increasing use of essential oils in numerous applications, particularly in food and beverages and cosmetic applications, are the key drivers contributing to the growth of the global essential oils market size. The drastic shift of consumers towards natural and organic products will lead to an upsurge in demand for the essential oils market. The rising number of working women population due to the increasing awareness associated with women's health and hygiene will further drive the growth of the global essential oils market share in terms of revenue. The strong demand for the added flavors and fragrances and the high adoption of natural products over chemical-based products by the consumers will stimulate the market growth. According to the essential oils market research, the growing demand for aromatic, personal care products is one of the major factors propelling the growth of the global essential oils market. On the other hand, the factors hampering the growth of the market include the increased cost of the essential oils, reduced availability of raw material, and side effects regarding some essential oils.

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Essential Oils Market's leading Manufacturers:

- Cargill
- E. I. Du Pont De Nemours and Company
- Koninklijke DSM N.V.
- D?terra International LLC.
- Givaudan SA
- Firmenich SA
- Young Living Essential Oils
- Sensient Technologies Corporation
- The Lebermuth Company Inc.
- International Flavors & Fragrances Inc.
- Symrise AG

Product Type Segment Drivers

Based on the product type, the orange oil type is expected to lead the market during the forecast period as it provides various health benefits, including scars, firmness, skin elasticity, other benefits to the skin. Furthermore, orange oil aids in enhancing the quality of skin, hair, and nails among consumers will further accelerate the market growth. On the other hand, Lavender oil is projected to grow at a higher CAGR in the coming years due to the strong demand in the food sector for dairy products, flavoring tea, and other food products. The strong penetration of these oils in the development of cosmetic and personal care products will further augment the growth of the market.

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Regional Drivers

Based on the region, Europe is predicted to lead the market in the upcoming years due to the large presence of several industry players and the drastic shift of consumers towards natural ingredients-based products instead of synthetic-based products. On the other hand, Asia-Pacific is expected to witness a higher CAGR in the coming years owing to the growing availability of essential oil. The increasing awareness associated with functionalities and health benefits of essential oils and growing disposable income will further bolster the growth of the market.

Essential Oils Market Segmentation:

Segmentation by Product Type:

- Orange Oil
- Lemon Oil
- Lime Oil
- Peppermint oil
- Corn mint Oil
- Citronella Oil
- Spearmint Oil
- Geranium Oil
- Clove leaf Oil
- Lavender Oil
- Others

Segmentation by Application:

- Food & Beverage
- Cosmetics & Toiletries
- Aromatherapy
- Home Care
- Health Care
- Others

Segmentation by Method of Extraction:

- Distillation
- Carbon Dioxide Extraction
- Cold Press Extraction
- Solvent Extraction
- Others

Segmentation by Region:

- North America

o United States of America
o Canada

- Asia Pacific

o China
o Japan
o India
o Rest of APAC

- Europe

o United Kingdom
o Germany
o France
o Spain
o Rest of Europe

- RoW

o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)

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