Market Trends of Europe Essential Oils Industry
This section covers the major market trends shaping the Europe Essential Oils Market according to our research experts:
The Rise of Aromatherapy in Europe
The interest in aromatherapy in Europe has grown over the past years, leading to significant growth in demand for high-value essential and vegetable oils and hydrolates, mostly in their use as natural ingredients. Consumers are increasingly using aromatherapy for specific health issues, especially in France and Germany, where aromatherapy is used as a medical treatment in the context of phytotherapy. As a result of the healthy living trend in Europe, there is a renewed interest in aromatherapy and other natural remedies. Hectic life schedules are one of the main concerns that have led consumers to undertake more responsibility for their personal health, integrating mental and physical well-being. Furthermore, the increased interest in aromatherapy also reflects the massive and growing amount of information available to consumers and companies on aromatherapy.
The Growing Share of Essential Oils in Cosmetics and Personal Care
The European cosmetic industry has evolved over the past years and is the largest market for cosmetics and personal care products. The dominant regions in the market studied include Germany and France followed by the United Kingdom. From the consumer's perspective, essential oils are mainly meant to protect the health, boost self-esteem, and enhance well-being overall. The safe use of essential oils in cosmetic products depends on the quality of raw materials and the extraction method by which the essential oil is produced. According to the Cosmetic Europe Personal Care Association, in the current year, Germany held the largest market share in the cosmetic category in the European region. Since fragrances are one of the key factors influencing the consumer's preference for cosmetic and personal care products, there is a significant opportunity for fragrance manufacturers to expand their business and offerings to the cosmetic product manufacturers in the region.
Moreover, European consumers are very skin sensitive and are more inclined toward natural skin care products, toiletries, hair care products, personal hygiene, etc., which, in turn, has been creating a wide opportunity for leading companies in the market, like BASF, Symrise, etc. to strategically invest in the innovation to meet the rising demand of the consumers.
