The demand for essential oils in the food and beverage, cosmetics, personal care, and healthcare industries is rising along with the demand for natural products. The market for essential oils is expanding as a result of rising popularity of aromatherapy as well as rising consumer knowledge of the advantages of essential oils and associated herbal items. The primary barrier to the essential oil market's expansion is, however, the scarcity of raw resources. Distillation is the most used method of extraction because it is the simplest and least expensive. Aromatherapy is the most popular application since it has strong calming and antidepressant effects. Demand for aromatherapy is rising as a result of rising rates of depression brought on by hectic and stressful lifestyles and working conditions, as well as rising urbanisation. Consequently, the market for essential oils will increase faster. Due to rising consumer demand for products made from natural oils and rising disposable income levels, the Asia Pacific market is expected to experience considerable expansion.
Coherent Market Insights projects that the market for Essential Oils was estimated to be worth USD 21.79 billion in 2022, and from 2023 to 2030, it is expected to rise at a CAGR of 7.9%
Prominent Companies in the Essential Oil Industry:
1. Biolandes
The company was founded in 1980 and has its main office in France. Specialty chemical products are produced by Biolandes. The business provides extracts and essential oils for flavours, cosmetics, and fragrances. Biolandes unveiled a revamped website and an online catalogue of natural extracts in March 2022.
2. doTERRA International
The firm was founded in 2008 and is based in Pleasant Grove, United States of America. In addition to personal products, the company provides wellness dietary supplements, essential oils, personal care products, and weight control products. DoTerra and the University of Mississippi reached a $5 million agreement in April 2022 to conduct essential oil research.
3. Essential Oils of New Zealand
The company was founded in 1975 and is located in New Zealand. The company primarily conducts exploration in New Zealand's Taranaki Basin, where it produces crude oil and natural gas. Growing, harvesting, and distilling a variety of essential oil crops, primarily for the global taste markets, was the company's primary objective.
4. Farotti SRL
The business was started in 2008 and is based in Rimini Emilia Romagna, Italy. The well-known fragrance and scent manufacturer Farotti srl is renowned for its creative, distinctive, and exclusive formulations, which are expertly made using its experience, tradition, and research. A Limited Liability Company called Farotti S.r.l. works in the production of essential oils.
5. H.Reynaude & Fils
The company was founded in 1898 and is based in France. The firm works in the food and beverage additives sector. The company is a pioneer in the manufacture and trade of French essential oils. French essential oils are produced and traded mostly by HRF.
6. Moksha Lifestyle Products
The company was founded in 2005 and is based in New Delhi, India. One of the best makers of essential oils in India is Moksha, which offers 100% pure, premium natural oils there at wholesale costs. Essential Oils, Spice Oleoresins, Herbal Extracts, Floral Hydrosols, and other natural products are produced and exported by Moksha Lifestyle Products.
7. The Lebermuth Company
The firm was founded in 1908 and has its main office in South Bend, Indiana, United States. The business sells essential oils, flavours, and scents. The business sells scents for items like air fresheners, candles, soaps, detergents, beer, sports beverages, fluid, chocolates, candies, coffee, and tea.
*Definition: Plant extracts called "essential oils" are the volatile fragrant oils that come from the flowers, seeds, stems, bark, leaves, and roots of plants. The flavour and scent of the plant from which they are taken are reflected in these oils.
