Market Size of Europe Essential Oils Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.89 Billion |
| Market Size (2029) | USD 2.42 Billion |
| CAGR (2024 - 2029) | 5.03 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Essential Oil Market Analysis
The Europe Essential Oils Market size is estimated at USD 1.89 billion in 2024, and is expected to reach USD 2.42 billion by 2029, growing at a CAGR of 5.03% during the forecast period (2024-2029).
Growing awareness about the benefits of aromatherapy at home, as it aids in pain relief, cognitive function, brain stimulation, and mood enhancement, is expected to create immense growth opportunities during the upcoming years. The demand for orange, lemon, and eucalyptus oils is increasing at an exponential rate, and the industry is no longer able to keep up with the rapidly increasing consumer demand. Suppliers are also forced to increase the prices of aromatic crops as they struggle to compete with other commodities and feed crops. These factors are likely to hinder the growth of the market studied further in the region.
However, increasing consumer expenditure on personal care products and rising awareness regarding the therapeutic benefits associated with essential oils are driving the market's growth. Also, the green movement is influencing the global fragrance industry. Across Europe, there is a significant shift toward eco-friendly, light, natural, and fresh fragrances. Natural scents, including light floral essential oils, have been witnessing a significant increase in demand among customers. Plants and botanical extracts are expected to gain prominence in the market studied.
