The global essential oils market size is expected to reach USD 22.9 Billion in 2030 and register a revenue CAGR of 9.3% over the forecast period, according to the latest report by Reports and Data. Rising demand for essential oils in soaps, detergents, body wash, and others is driving essential oils market revenue growth.
Rise in demand for essential oil in cosmetics & personal care, especially in the fragrance industry is driving growth of the market. Pleasant smells play a vital role in increasing the attractiveness of cosmetics. Essential oils are very crucial to the cosmetic industry as they not only impart pleasant fragrance but also act as an active agent to preserve various products and also provide various benefits to the skin. Growing consumer awareness regarding harmful effects of synthetic products coupled with rising demand for natural ingredients in beauty and wellness has led manufacturers to minimize the use of artificial ingredients and endorse natural fragrances, which is expected to drive growth of the market during the forecast period. Essential oils that are widely used in perfume for fragrance are lavender, rose, tea tree, eucalyptus, and other floral oils. While citronellol, limonene, and linalool essential oils are widely used fragrances in different cosmetics.
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