Essential Oils Market Size, Share, Growth Analysis, By Sales Channel(Direct selling and others), By Application(Medical, food & beverages, spa & relaxation), By Region - Industry Forecast 2024-2031

Essential Oils Market Drivers

Aromatherapy is gaining popularity

• Natural oils and plant extracts are used in aromatherapy, a therapeutic procedure, to support health and well-being. In aromatherapy, essential oils are used to boost physical and emotional well-being by enhancing the health of the body, spirit, and mind. Aromatic plant extracts in the form of balms, oils, and resins have been utilized for therapeutic and religious purposes for ages in nations like India, Egypt, and China. Demand for aromatherapy has increased due to a number of variables, including how well it manages pain, enhances sleep, and lowers tension, anxiety, and agitation. Additionally, an increase in wealth has caused customers' preferences for high-end products to change, which is expected to drive market expansion over the forecast period. Additionally, there is a growing market to restore mental, physical, and emotional health as a result of the popularity of massage and aromatherapy.

Essential Oils Market Restraints

Limited raw material availability

• Plants are used to extract essential oils, which are gradually running out due to population growth, urbanization, and industrialization. To accommodate the growing population, more trees are being cut down, which has resulted in deforestation. These are concentrated and produce a small amount. For instance, one pound of jasmine oil requires about 200 kg of jasmine blossoms. As a result, a lot of raw materials are needed to produce a limited amount of high-quality essential oils, which is limiting the market's expansion.