New York, June 25, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Essential Oils Industry” – https://www.reportlinker.com/p05798538/?utm_source=GNW
The concentrated extracts are volatile and have aromatic essences, making them ideal for multiple applications such as food & beverage, home care & cleaning, cosmetics, fragrances, and aromatherapy. Growth in the market is being driven by multiple factors such as rising preference for clean label products, new applications, and increasing transparency in processes. The increasing use of essential oils in the household, personal care, and bath significantly contributes towards the market growth. The food & beverage industry is one of the key drivers of growth for the essential oils industry. The food & beverage industry utilizes essential oils as ingredients, and also as preservative agents. With growing adoption of alternative medicine for common ailments, the demand for essential oils in aromatherapy are increasing at a significant pace, especially in developed markets where parlors for aromatherapy are flourishing.
– Amid the COVID-19 crisis, the global market for Essential Oils estimated at US$8.1 Billion in the year 2020, is projected to reach a revised size of US$11.3 Billion by 2026, growing at a CAGR of 5.9% over the analysis period. Distillation, one of the segments analyzed in the report, is projected to grow at a 6.6% CAGR to reach US$4.5 Billion by the end of the analysis…
