Essential Oils Market Size, Share, and Trends 2025 to 2034

Essential Oils Market Size and Forecast 2025 to 2034

The global essential oils market size surpassed USD 24.14 billion in 2024 and anticipated to reach around USD 49.77 billion by 2034 with a registered CAGR of 7.50% from 2024 to 2034. The global enhanced oil recovery market growth is attributed to the increasing focus on EOR techniques to expand their lifespan and increasing demand for oil and gas across the globe.

Essential Oils Market Key Takeways

• Europe dominated the global market with the largest market share of 50% in 2024.
• Asia Pacific is projected to expand at the notable CAGR during the forecast period.
• By product, the orange oil management services segment has held the largest market share in 2024.
• By product, the lemon oil segments is estimated to be the fastest-growing segment during the forecast period.
• By application, the spa and relaxation segment captured the biggest market share in 2024.
• By application, the food and beverage segment is expected to grow at a significant CAGR from 2025 to 2034.
• By sales channel, the direct selling segment contributed the highest market share in 2024.
• By sales channel, the online sales segments is expected to be the fastest-growing segment during the forecast period.

How AI is Changing the Enhanced Oil Recovery Market?

Artificial intelligence is revolutionizing various industries, and the enhanced oil recovery industry is no exception. By enabling more efficient, cost-effective, and precise operations, the integration of AI technologies has introduced a new dimension to enhanced oil recovery. AI, with its capabilities for data-driven decision-making, predictive analysis, and machine learning, can transform how oil fields are managed, particularly in terms of reducing operational uncertainties and optimizing recovery rates. Operators can analyze and process huge amounts of data from m reservoirs in real-time, minimize the risks associated with traditional EOR methods, and adjust recovery strategies dynamically, through the use of AI. In addition, the integration of AI improves the accuracy of forecasts, enhances recovery, allows for better resource allocation, and reduces downtime, owing to significant cost savings. These advanced trends are expected to revolutionize the growth of the enhanced oil recovery market in the coming years. 

Europe Essential Oils Market Size and Growth 2025 to 2034

The europe essential oils market size reached USD 10.91 billion in 2024 and expected to be worth around USD 22.9 billion by 2034,  growing at a CAGR of 7.70% between 2024 to 2034. 

Europe region accounted 50% market share in 2024. The growth of essential oils market in Europe region is being driven by existence of companies in the region. In addition, growing awareness about the advantages provided by essential oils is also driving the growth of Europe essential oils market. Moreover, the rising population is contributing towards the growth of Europe essential oils market.

Asia-Pacific, on the other hand, is expected to develop at the fastest rate during the forecast period. India and China dominate the essential oils market in Asia-Pacific region. The expansion of essential oils market in Asia-Pacific region is attributed to the wide availability of raw materials as well as low cost of labor. In addition, the large number of consumers is also supporting the expansion of essential oils market in the region.

Market Trends

• As secondary and primary oil recovery techniques may leave oil in the reservoir up to 70%, various oil extracting companies have further started relying more on tertiary oil recovery or enhanced oil recovery techniques, further driving the market growth. 
• Gas injection, thermal recovery, and chemical injection are the most commonly utilized enhanced oil recovery techniques all around the world and the majority of the enhanced oil recovery technologies are currently utilized offshore, as oil companies are developing methods to enlarge onshore enhanced oil recovery methods.
• The growing demand for oil has also added to the rising demand for enhanced oil recovery around the globe and several governments worldwide are taking initiatives to use technologies that are advanced in nature for the extraction of oil in order to achieve more and more profits from the existing fields of oil & gas.
• The increasing number of key market players around the globe are deploying innovative technologies for the development of the enhanced oil recovery industry is further expected to drive the growth of the enhanced oil recovery market. 

Market Scope

Product Insights

The orange oil segment dominated the essential oils market in 2024. The orange oil is an essential oil derived from the rind of the citrus sinensis fruit. The orange oil is a by product of the evaporation of orange juice. The rising living standards and disposable income are likely to boost global sales of orange oil.

The lemon oil segment is predicted to hit fastest growth rate from 2025 to 2034. Lemon oil is an essential oil that is well known for its energizing, zesty aroma. During the projected period, demand for natural food flavors such as lemon essential oil is expected to rise in emerging nations such as India and China. This factor is driving the growth of the segment.

Application Insights

The spa and relaxation segment accounted market share of around  in 2024. The essential oils are primarily used to lubricate the skin and reduce friction during massage. This aids in giving the skin surface a smooth glide and easy workability. Some of the additional benefits include moisturizing the skin and functioning as a base or carrier oil used in aromatherapy. All these factors are driving demand for essential oils in spas and relaxation centers.

The food and beverage segment is projected to develop strong growth during the forecast period. Several essential oils contain antibacterial and antioxidant characteristics that help to keep bacteria at bay in the kitchen. They operate as natural preservatives in the food industry, progressively replacing dangerous synthetic preservatives in the food industry, progressively replacing dangerous synthetic preservatives. Cooking with plant extracts such as cinnamon, oregano, clove oil, and thyme inhibits the growth of fungi and yeasts, extending the life of food.

Sales Channel Insights

The direct selling segment dominated the essential oils market in 2024 In a non-retail setting, direct selling entails selling things directly to customers. Instead, sales take place from home, at work, on the internet, or at other non-store venues. The direct selling eliminates various product distribution intermediaries, including regional distribution centers and wholesalers. These factors are boosting the growth of the segment.

The online sales segment is expected to witness strong growth over the forecast period. The online sales channel or e-commerce platform is gaining momentum in global market. The reason being rise in adoption of smart phones and internet penetration. In addition, the benefits such as discounts and free home delivery are supporting the growth of sales of essential oils through online sales channel or e-commerce platform.

Essential Oils Market Companies

• Takasago International Corporation
• Flavex Naturextrakte GmbH
• Firmenich SA
• Synthite Industries Ltd.
• ROBERTET GROUP
• International Flavors & Fragrances Inc.
• Norex Flavours Private Limited
• BMV Fragrances Pvt. Ltd.
• MOKSHA LIFESTYLE PRODUCTS
• Ultra International

Recent Developments

• In October 2024, Japan Petroleum Exploration Co. launched an inter-well CO2 injection test in collaboration with national energy company PT Pertamina in Indonesia. The aim behind this launch was to conduct CO2 injection across multiple wells to improve the effectiveness of CO2 sequestration and CO2-EOR (Enhanced Oil Recovery). 
• In June 2024, India’s leading private oil and gas producers, Vedanta Group and Cairn Oil & Gas announced the commencement of the largest commercial ASP flooding in Rajasthan. This ASP technique is designed to enhance oil recovery in mature fields and boost output potential significantly. 

Segments Covered in the Report

By Product

• Acorus Calamus
• Ajowan
• Basil
• Black pepper
• Cardamom
• Carrot Seed
• Cassia
• Cedarwood
• Celery
• Cinnamon
• Citronella
• Clove
• Cornmint
• Cumin Seed
• Curry Leaf
• Cypriol
• Davana
• Dill Seed
• Eucalyptus
• Fennel
• Frankincense
• Garlic
• Ginger
• Holy Basil
• Juniper Berry
• Lemon
• Lemongrass
• Lime
• Mace
• Mustard
• Neem
• Nutmeg
• Orange
• Palmarosa
• Pepper Mint
• DMO
• Rosemary
• Spearmint
• Turmeric
• Vetiver
• Ciz-3 Hexanol
• Tea Tree
• Others 

By Application

• Medical
• Pharmaceutical
• Nutraceuticals
• Food & Beverages
• Bakery
• Confectionery
• Dairy
• RTE meals
• Beverages
• Meat, Poultry & Seafood
• Snacks & Nutritional Bars
• Spa & Relaxation
• Aromatherapy
• Massage Oil
• Personal Care
• Cleaning & Home
• Kitchen Cleaners
• Floor Cleaners
• Bathroom Cleaner
• Fabric Care

By Sales Channel

• Direct Selling
• Online Sales
• Others

By Method of Extraction

• Distillation
• Carbon dioxide extraction
• Cold press extraction
• Solvent extraction
• Other extraction methods (resin tapping and maceration)

By Type

• Singles
• Blends

By Geography

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Malaysia
• Philippines
• Latin America
• Brazil
• Rest of Latin America
• Middle East & Africa (MEA)
• GCC
• North Africa
• South Africa
• Rest of the Middle East & Africa