Essential Oils Market to be Worth $24.80 Billion by 2031

Essential Oils Market Size, Share, Forecast, & Trends Analysis by Source (Citrus {Orange}, Lavender, Tea Tree), Type (Organic), Extraction Method, Application (Food & Beverage, Aromatherapy), Distribution Channel (Direct Selling) – Global Forecast to 2031

The Essential Oils Market was valued at $12.62 billion in 2023. This market is expected to reach $24.8 billion by 2031, from an estimated $13.71 billion in 2024, at a CAGR of 8.8% during the forecast period 2024-2031. The growth of this market can be attributed to several factors, including the increasing consumer preference for natural and organic products, the growing demand for essential oils from the aromatherapy industry, the rising awareness about the health benefits of essential oils, and the increasing concerns regarding the use of synthetic ingredients. However, the limited availability of raw materials and potential side effects or allergic reactions associated with certain essential oils may restrain market growth.