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The Market Size Of Essential Oil Raw Materials In 2023 May Reach 2.83 Billion Dollars
Oct 31, 2018

        Foreword: In 2017, the global essential oil raw material market is 2.2 billion US dollars, which is expected to reach 2.27 billion US dollars this year, and is expected to grow to 2.83 billion US dollars by 2023. It is reported that the average growth rate of the global essential oil raw materials market will remain at 4.5% mainly from 2018 to 2023, and the growth trend will continue.  

essential oil bottle

        According to India's international market research agency MarketsandMarkets this month, a report on the market for essential oil raw materials for personal care industrial use and the global market forecast for 2018~2023 was published this month. The report predicts that the demand for essential oil raw materials for various personal care products is increasing, coupled with changes in consumer lifestyles and preferences, is expected to play a catalytic role in the explosion of the essential oil raw materials market in 2018-2023. According to the report, the current essential oil raw material market is mainly divided into synthetic raw materials and natural raw materials. Among them, from 2018 to 2023, the average annual growth of synthetic raw materials will be more eye-catching. From the point of view of use, the fine fragrances division will drive the growth of the essential oils raw materials market between 2018 and 2023. Advanced fragrances are not only used in perfumes, but also in cologne, body sprays, deodorants and more. According to the report, the demand for premium fragrances continues to increase in companies around the world in order to produce perfumes, colognes, deodorants and body sprays.

        From different regions, the European market accounted for the highest market share of essential oil raw materials in 2018~2023, because this is the base for the production of various personal care products. In addition, European countries such as France, Germany, Italy and the United Kingdom are the headquarters of major oil raw material producers, and the Asia-Pacific region, North America, the Middle East, the Americas and Central and South America have to succumb.

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