Essential Oils Market Scope, Technological Development and Competitive Insights to 2030
The global essential oils market size is expected to reach USD 40.12 billion by 2030, and expanding at a CAGR of 7.9% from 2024 to 2030, as per the new report by Grand View Research, Inc Key factor contributing to the demand for essential oil is that aromatherapy is rapidly gaining momentum as a convenient method of healing lifestyle diseases. The sales volume of essential oils is rising on the account of the rising consumer awareness related to the wide utilization of the product across various applications. They are primarily made of terpenes and their oxygenated derivatives which usually include monoterpenes, sesquiterpenes, etc. They are present in specialized cells/glands in various plants and the position of these glands varies depending on the morphology, and physiology of the plant. During the manufacturing process, these glands are ruptured by pressing or by application of heat, which emanates aroma. The product is widely used for enhancement of air freshne...