Europe Essential Oils Market growth was over USD 2 billion in 2019 and industry expects to witness significant gains at over 9% by 2026.
Essential oils are compounds extracted from plants, whose flavors, scents, and overall beneficial properties make them an ideal choice for skin, hair and healthcare. Lavender, roman chamomile, rose, hyssop, clary sage, rosemary are some of the essential oils used for different healthcare benefits. Increasing stress in everyday life demands the use of various stress relieving measures such as aromatherapy which requires the use of essential oils for relaxation. Increasing consumer demand for natural ingredients in therapy oils is likely to drive market growth in the coming years.
Increasing occurrence of health issues such as cardiovascular diseases, bronchitis and Alzheimer’s disease which requires aromatherapy for its cure in Europe is expected to promote growth of the market in the region. Besides, essential oils don not have any major side effects, which may raise the Europe essential oils market in the near future.
Lemon essential oil dominate the Europe essential oil market share in 2019. The numerous health benefits offered by lemon essential oil such as reducing exhaustion and depression, killing harmful bacteria and viruses, clearing skin and reducing inflammation are expected to escalate market in the next few years. Increasing applications of citrus-based essential oils such as lemon essential oil and orange essential oil in food & beverage applications due to their role in increasing the overall shelf life of food is likely to propel the market growth. Increasing efforts being undertaken by the European Union to protect the interests of essential oil manufacturers is likely to boost market growth. For instance, The European Federation of Essential Oils (EFEO) is a project initiated by The European Union to represent, protect, and promote the interests of trade and production of essential oils across Europe.
Europe market from cosmetics and toiletries application was valued over USD 400 million in 2019. Increasing consumer demand for natural oils in cosmetics and toiletries and reduced dependence on synthetic ingredients may raise the market share of essential oils in cosmetics and toiletries application. According to statistics released by Cosmetics Europe, the market for cosmetic and personal care products in Europe was around 77.6 Billion euros in 2017.
Germany essential oils market revenue was over USD 450 million in 2019. Rising prevalence of health disorders such as bronchitis, heart diseases and Alzheimer’s disease coupled with increasing health benefits of aromatherapy coupled with increasing use of essential oil-based cosmetics and personal care products is likely to propel the growth of the market in the country.
The market share is competitive with key players including Cargill Incorporated, FLAVEX Naturextrakte GmbH, Sensient Technologies Corporation, Rocky Mountain Oils, Ungerer Limited, Lebermuth, Inc., doterra, FAROTTI SRL, H. REYNAUD & FILS, Edens Garden, Dupont, Young Living Essential Oils, LLC, Robertet SA, Givaudan, Moksha, the Sydney Essential Oil Co., Essential Oils of New Zealand Ltd. and Royal DSM. Manufacturers have turned their focus on new product launches, strategic acquisitions, as well as collaborations to gain competitive advantage.