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Essential Oil Market by Application and Geography - Forecast and Analysis 2021-2025

  • Published: May 2021
  • Pages: 123
  • SKU: IRTNTR70593
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The essential oil market share is expected to increase by USD 5.04 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 8.94%.

This essential oil market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers essential oil market segmentations by application (food and beverages, recreation, and others) and geography (Europe, North America, APAC, South America, and MEA). The essential oil market report also offers information on several market vendors, including Aromaaz International, Bath and Body Works Direct Inc., Biolandes Aromes SAS, doTERRA International LLC, Frontier Co-op, H. Reynaud and Fils, NOW Health Group Inc., Sydney Essential Oil Co. Pty Ltd., The Lebermuth Co. Inc., and Young Living Essential Oils among others.

What will the Essential Oil Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Essential Oil Market Size for the Forecast Period and Other Important Statistics

 

Essential Oil Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The health benefits of essential oils is notably driving the essential oil market growth, although factors such as increasing availability of c ounterfeit products may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the essential oil industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Essential Oil Market Driver

The health benefits of essential oils is a major factor driving the global essential oils market share growth. Essential oils such as lavender, basil, tea tree, and lemongrass have several health benefits that fuel their adoption among consumers. Basil essential oil is a natural relaxant oil that helps relieve stress. The oil, whether applied topically or inhaled, provides relief from migraines, nervous tension, anxiety, depression, fatigue, and mental strain. It is commonly used to soothe stings from honey bees, insects, and snakes. Lavender essential oil works as a toner for the skin. It helps boost blood circulation, thus stimulating the skin cells with an adequate supply of oxygen and nutrition. Moreover, tea tree essential oil helps to stimulate the immune system. It also has antiseptic properties that help cleanse and tone the scalp and skin when applied topically. Therefore, increasing consumer awareness regarding the health benefits of various essential oils will drive the sales of essential oils during the forecast period.

Key Essential Oil Market Trend

The increase in new product launches is another factor supporting the global essential oils market share growth. Successful new product launches help increase the revenue and market share of players besides retaining the interest of consumers, which, in turn, supports the growth of the market. For instance, in January 2019, Natural Riches launched its new organic tea tree essential oil. The company claims that the new product is certified as organic pure, unadulterated, therapeutic grade, and quality tested. It can be used with a carrier oil for massages. Similarly, in August 2018, Youngevity International introduced three new essential oil products. The three essential oil blends, Copaiba Plus, Big Smile, and Bounce Back, deliver exclusive aromatherapy support to specific areas of wellness. In June 2018, Garden of Life launched a new line of essential oils. The new line contains about ten essential oils such as lavender, peppermint, lemon, tea tree, eucalyptus, sweet orange, geranium, lemongrass, rosemary, and frankincense. Due to such variety of product offerings, the market will continue to grow during the forecast period.

Key Essential Oil Market Challenge

The increasing availability of counterfeit products will be a major challenge for the global essential oils market share growth during the forecast period. The easy availability of counterfeit products challenges market growth. Essential oils are extracted from plants through the distillation process, and they exhibit the characteristic fragrances and properties of the plants they are extracted from. However, counterfeit products contain cheap seed oils and do not have any properties of the essential oils. Some of the counterfeit products are mixed with synthetics to make them resemble the scent of the plant. One of the most common adulterated essential oil is lavender essential oil. Sometimes, lavandin oil is sold as lavender oil. Lavandin oil is chemically different from lavender oil and is commonly used in perfumery. Such counterfeit products will damage the brand image of leading essential oil brands. Therefore, the increasing prevalence of counterfeit products can hamper the growth of the global essential oil market during the forecast period.

This essential oil market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global essential oil market as part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the essential oil market during the forecast period.

Who are the Major Essential Oil Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Aromaaz International
  • Bath and Body Works Direct Inc.
  • Biolandes Aromes SAS
  • doTERRA International LLC
  • Frontier Co-op
  • H. Reynaud and Fils
  • NOW Health Group Inc.
  • Sydney Essential Oil Co. Pty Ltd.
  • The Lebermuth Co. Inc.
  • Young Living Essential Oils

 

This statistical study of the essential oil market encompasses successful business strategies deployed by the key vendors. The essential oil market is fragmented and the vendors are deploying growth strategies such as organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Aromaaz International- The company offers products such as agarwood essential oil, amyris essential oil, bitter orange oil and other products.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The essential oil market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Essential Oil Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the essential oil market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global packaged foods and meats market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

 

Which are the Key Regions for Essential Oil Market?

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37% of the market’s growth will originate from Europe during the forecast period. Germany and The Netherlands are the key markets for essential oil market in Europe. Market growth in this region will be faster than the growth of the market in MEA and South America.

The awareness of the health benefits of essential oils and their application across several industries such as cosmetics, pharmaceuticals, and food and beverages will facilitate the essential oil market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

Cosmetics products made from essential oils, witnessed a decline in terms of the number of orders and turnover during 2020, following the outbreak of the pandemic. In light of the closure of most retail stores selling cosmetics during 2020, vendors have been actively promoting online sales, especially through brand-owned e-commerce portals, in their home countries and giving discounts on prominent essential oil products. To encourage online sales, vendors have been shipping essential oil products without any shipping charges.

What are the Revenue-generating Application Segments in the Essential Oil Market?

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The essential oil market share growth by the food and beverages segment will be significant during the forecast period. The segment is experiencing an increasing application of essential oils as consumers are becoming more health-conscious and demanding natural ingredients in food and beverages. Essential oils are used to add flavor and therapeutic benefits to food and beverages.

This report provides an accurate prediction of the contribution of all the segments to the growth of the essential oil market size and actionable market insights on post COVID-19 impact on each segment.

Essential Oil Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 8.94%

Market growth 2021-2025

$ 5.04 billion

Market structure

Fragmented

YoY growth (%)

8.69

Regional analysis

Europe, North America, APAC, South America, and MEA

Performing market contribution

Europe at 37%

Key consumer countries

US, Germany, The Netherlands, and Canada

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Aromaaz International, Bath and Body Works Direct Inc., Biolandes Aromes SAS, doTERRA International LLC, Frontier Co-op, H. Reynaud and Fils, NOW Health Group Inc., Sydney Essential Oil Co. Pty Ltd., The Lebermuth Co. Inc., and Young Living Essential Oils

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Essential Oil Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive essential oil market growth during the next five years
  • Precise estimation of the essential oil market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the essential oil industry across Europe, North America, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of essential oil market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value Chain Analysis: Packaged Foods and Meats

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five Forces Summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 15: Application - Market share 2020-2025 (%)
    • 5.2 Comparison by Application
      • Exhibit 16: Comparison by Application
    • 5.3 Food and beverages - Market size and forecast 2020-2025
      • Exhibit 17: Food and beverages - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: Food and beverages - Year-over-year growth 2020-2025 (%)
    • 5.4 Recreation - Market size and forecast 2020-2025
      • Exhibit 19: Recreation - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: Recreation - Year-over-year growth 2020-2025 (%)
    • 5.5 Others - Market size and forecast 2020-2025
      • Exhibit 21: Others - Market size and forecast 2020-2025 ($ million)
      • Exhibit 22: Others - Year-over-year growth 2020-2025 (%)
    • 5.6 Market opportunity by Application
      • Exhibit 23: Market opportunity by Application

    6 Customer landscape

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 25: Market share by geography 2020-2025 (%)
    • 7.2 Geographic comparison
      • Exhibit 26: Geographic comparison
    • 7.3 Europe - Market size and forecast 2020-2025
      • Exhibit 27: Europe - Market size and forecast 2020-2025 ($ million)
      • Exhibit 28: Europe - Year-over-year growth 2020-2025 (%)
    • 7.4 North America - Market size and forecast 2020-2025
      • Exhibit 29: North America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 30: North America - Year-over-year growth 2020-2025 (%)
    • 7.5 APAC - Market size and forecast 2020-2025
      • Exhibit 31: APAC - Market size and forecast 2020-2025 ($ million)
      • Exhibit 32: APAC - Year-over-year growth 2020-2025 (%)
    • 7.6 South America - Market size and forecast 2020-2025
      • Exhibit 33: South America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 34: South America - Year-over-year growth 2020-2025 (%)
    • 7.7 MEA - Market size and forecast 2020-2025
      • Exhibit 35: MEA - Market size and forecast 2020-2025 ($ million)
      • Exhibit 36: MEA - Year-over-year growth 2020-2025 (%)
    • 7.8 Key leading countries
      • Exhibit 37: Key leading countries
    • 7.9 Market opportunity by geography
      • Exhibit 38: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • Exhibit 39: Impact of drivers and challenges
      • 8.3 Market trends

        9 Vendor Landscape

        • 9.1 Overview
          • 9.2 Vendor landscape
            • Exhibit 40: Vendor landscape
          • 9.3 Landscape disruption
            • Exhibit 41: Landscape disruption
            • Exhibit 42: Industry risks

          10 Vendor Analysis

          • 10.1 Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 44: Market positioning of vendors
            • 10.3 Aromaaz International
              • Exhibit 45: Aromaaz International - Overview
              • Exhibit 46: Aromaaz International - Product and service
              • Exhibit 47: Aromaaz International - Key offerings
            • 10.4 Bath and Body Works Direct Inc.
              • Exhibit 48: Bath and Body Works Direct Inc. - Overview
              • Exhibit 49: Bath and Body Works Direct Inc. - Product and service
              • Exhibit 50: Bath and Body Works Direct Inc. - Key offerings
            • 10.5 Biolandes Aromes SAS
              • Exhibit 51: Biolandes Aromes SAS - Overview
              • Exhibit 52: Biolandes Aromes SAS - Product and service
              • Exhibit 53: Biolandes Aromes SAS - Key offerings
            • 10.6 doTERRA International LLC
              • Exhibit 54: doTERRA International LLC - Overview
              • Exhibit 55: doTERRA International LLC - Product and service
              • Exhibit 56: doTERRA International LLC - Key offerings
            • 10.7 Frontier Co-op
              • Exhibit 57: Frontier Co-op - Overview
              • Exhibit 58: Frontier Co-op - Product and service
              • Exhibit 59: Frontier Co-op - Key offerings
            • 10.8 H. Reynaud and Fils
              • Exhibit 60: H. Reynaud and Fils - Overview
              • Exhibit 61: H. Reynaud and Fils - Product and service
              • Exhibit 62: H. Reynaud and Fils - Key offerings
            • 10.9 NOW Health Group Inc.
              • Exhibit 63: NOW Health Group Inc. - Overview
              • Exhibit 64: NOW Health Group Inc. - Product and service
              • Exhibit 65: NOW Health Group Inc. - Key offerings
            • 10.10 Sydney Essential Oil Co. Pty Ltd.
              • Exhibit 66: Sydney Essential Oil Co. Pty Ltd. - Overview
              • Exhibit 67: Sydney Essential Oil Co. Pty Ltd. - Product and service
              • Exhibit 68: Sydney Essential Oil Co. Pty Ltd. - Key offerings
            • 10.11 The Lebermuth Co. Inc.
              • Exhibit 69: The Lebermuth Co. Inc. - Overview
              • Exhibit 70: The Lebermuth Co. Inc. - Product and service
              • Exhibit 71: The Lebermuth Co. Inc. - Key offerings
            • 10.12 Young Living Essential Oils
              • Exhibit 72: Young Living Essential Oils - Overview
              • Exhibit 73: Young Living Essential Oils - Product and service
              • Exhibit 74: Young Living Essential Oils - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Currency conversion rates for US$
                • Exhibit 75: Currency conversion rates for US$
              • 11.3 Research methodology
                • Exhibit 76: Research Methodology
                • Exhibit 77: Validation techniques employed for market sizing
                • Exhibit 78: Information sources
              • 11.4 List of abbreviations
                • Exhibit 79: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              The essential oil market growth will increase by $5038.54 million during 2021-2025.
              The essential oil market is expected to grow at a CAGR of 8.94% during 2021-2025.
              Technavio has segmented the essential oil market by application (Food and beverages, Recreation, and Others) and geographic (Europe, North America, APAC, South America, MEA, Europe, North America, APAC, South America, and MEA).
              Aromaaz International, Bath and Body Works Direct Inc., Biolandes Aromes SAS, doTERRA International LLC, Frontier Co-op, H. Reynaud and Fils, NOW Health Group Inc., Sydney Essential Oil Co. Pty Ltd., The Lebermuth Co. Inc., Young Living Essential Oils are a few of the key vendors in the essential oil market.
              Europe will register the highest growth rate of 36.55% among the other regions. Therefore, the essential oil market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.
              • US
              • Germany
              • The Netherlands
              • Canada
              The key factors driving the essential oil market growth are:
              • Health benefits of essential oils
              • Increase in new product launches
              The essential oil market vendors should focus on grabbing business opportunities from the food and beverages segment as it accounted for the largest market share in the base year.
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