Market Research Future (Food and Beverages) Essential Oil Market Research Report | Page 3

Essential Oil Market Research Report- Forecast to 2023
2 Market Overview
Essential Oil market is projected to grow at 5.92% during the forecasted period 2017to 2023. APAC region is
estimated to dominate the market with more than 50% of market share followed by America in the year 2017. France,
Italy and Germany are major essential oil producers in the Europe region. Increasing popularity of essential oil in
aromatherapy and pharmaceuticals supporting various essential oil production in America and Europe region. U.S.
and Canada are major essential oil market in the American region. Strong potential of essential oil production and
rising application of essential oil in cosmetics and personal care supporting market growth among the various regions
in the world.
Global essential oil market is projected to reach USD 18,956 million by 2023 with growth rate of 5.92%. Pure essential
oil will grow at the CAGR of 6.16% during forecast period 2017 to 2023. Pure essential oil holds the major market
share followed by compound essential oil in the year 2017. Corn mint and Orange together holds more than 57% of
market share in the year 2017. Clove leaf essential oil market is projected to reach around USD 150 million by 2023
with CAGR of 6.09% and it is majorly produced in APAC region.
Latest Industry Updates:
Jan 2018 Rocky Mountain Oils has announced new product launch Ava Shield, a new line of all-natural personal
and home care products without containing any harsh chemicals. The key to the effectiveness of Ava Shield is the
inclusion of the top selling Immune Strength 100% pure essential oil blend from Rocky Mountain Oils.
Nov 2017 Organic Aromas maker of a wide range of premium aromatherapy products for the home and professional-
use markets has announced the launch of several exciting and unique new products.
Mar 2015 Nu Skin Enterprises, Inc. has announced the upcoming introduction of Epoch Essential Oils in the United
States, Canada and Latin America. The essential oils can be used topically or aromatically to provide a variety of
sensory and wellness experiences and benefits.
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