The global market size of essential oils was around USD 18.6 billion in 2020 and is estimated to increase at a compound annual growth rate (CAGR) of 7.4% in revenue from 2021 to 2028. The orange essential oils have the highest demand by quantity, followed by peppermint, eucalyptus, lemon, clove, and frankincense essential oil. The demand for orange essential oil is estimated to reach 61,000 tons by 2026, increasing at a notable CAGR of over 9%.
Essential oils, also known as scented oils, and plant extracts have been used for centuries and still have relevant applications today. With advanced technology and improved quality, efficacy, and safety, essential oils are now more accessible and easier to use in everyday life. Although essential oils were often part of cultural practices and traditions in the past, we now have increasing scientific knowledge and research to prove the effectiveness and safety of essential oils in our time.
Essential oils are effective against a wide range of ailments. Plants produce essential oils to attract insects, drive away pests, and protect plants from diseases. These effects can also benefit humans, with the oils entering the body directly via the skin or the gastrointestinal tract.
The treatment of sensitivities and diseases with essential oils is called aroma therapy. From essential oils for headaches, essential oils for congestion, essential oils for anxiety, essential oils for cough to essential oils for allergies, and more, these oils can have great health benefits. Essential oils are also suitable for self-treatment because of their ease of use.
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