APAC Essential Oil Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 2.26 Billion |
| Market Size (2029) | USD 3.35 Billion |
| CAGR (2024 - 2029) | 8.21 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
APAC Essential Oil Market Analysis
The Asia Pacific Essential Oils Market size is estimated at USD 2.26 billion in 2024, and is expected to reach USD 3.35 billion by 2029, growing at a CAGR of 8.21% during the forecast period (2024-2029).
Asia-Pacific's demand for essential oils and products is increasing due to high disposable income, demand for organic and natural ingredients, and consumer attraction toward luxury products. Due to changes in lifestyles, urbanization, and stressful lives, people prefer to take aromatherapies for physical and emotional well-being. Essential oils play a vital role in aromatherapy. Furthermore, consumers' demand for citrus-based essential oil such as oranges and lemons is significant in some countries. The products witnessed a growing penetration across the household, and personal care industry, wherein citrus essential oil recently escalated in flavors, odourants, and pharmaceutical ingredients segment.
Essential oils are also gaining more popularity in the food sector. Market players have been introducing food-grade essential oil for use in various products. Demand for clean-label natural ingredients is increasing among consumers. As essential oils are extracted naturally without losing any nutrients, they are preferred in the food industry. Furthermore, the use of essential oils in the pharmaceutical industry is also famous as it helps pain relief. Market players have been using essential oils in medicines for pain management. In July 2021, Venus Remedies, a Chandigarh, India-based drug firm's consumer health care division, offered supplements for crucial pain management, stress management, and vitamin supplement. They launched the R3SET supplement to ensure maximum benefit by combining essential oils with nanotechnology for instant and better results.
APAC Essential Oil Market Trends
This section covers the major market trends shaping the APAC Essential Oils Market according to our research experts:
Increasing Awareness Toward the Health Benefits of Essential Oil
Essential oil poses both antimicrobial and antifungal properties. Cosmetic preparations such as gels, creams, and ointments do not require an additional chemical preservative if they contain essential oil or a single compound as an active agent. It led manufacturers to incorporate essential oil, elevating the existing properties of ointment, gels, and creams. Essential oils have a broad set of incorporation in cosmetic products, perfumes, and related household products in line with their variety of properties but most notably due to their pleasant odor. There is a massive demand for organic products in the Asia-Pacific region owing to their health benefits and use of natural ingredients. Consumers want their products to be chemical-free and cruelty-free. Due to the demand, market players are also introducing new products made with organic and high-quality ingredients at affordable prices. For instance, in June 2021, Bella Vita Organic, India's all-natural ayurvedic brand, launched a range of luxury yet inexpensive essential oils. Nine essential oils were launched from floral or plant-based, ranging from too strong or mild. All of these are available online on the brand's website.
Japan is Expected to Witness High Growth Rate
The Japanese essential oil industry is growing owing to the demand for essential oils in various sectors like cosmetics, perfumes, and personal care products. Japan is famous for its variety of cosmetics. Demand for natural and organic cosmetics is growing in Japan. Therefore, the use of essential oil extracts in products is increasing instead of artificial ingredients. The regional players in Japan are innovating the products with the help of different essential oils. For instance, in November 2022, Japanese beauty and personal care brand Edobio launched a new hair and body care lineup. The products include shampoo, body soap, and conditioner. The products like conditioners are made by using camelia oil. Japanese people are also attracted to perfumes and fragrances. The use of essential oils in those perfumes is also driving the market as demand for clean-label, natural ingredients and skin-sensitive products is increasing. The market players are innovating products and enhancing people's experience with experts' help. For instance, in June 2021, skincare and fragrance company "Osaji" opened a new physical store called 'Kako Ikea.' Customers can make perfumes and fragrances in this store using various essential oils and products. Over the medium term, an increase in disposable income, demand for natural ingredients, and product innovation are expected to drive the market.
APAC Essential Oil Industry Overview
The Asia-Pacific Essential oil market is competitive, with a strong presence of regional players dominating specific regions. Major players operating in the market are Aroma Treasures, Young Living essential oils, Organic Harvest, Ultra International B.V., and do Terra, among others. New product development and expansion are vital strategic players that allow them to have a stronghold in the market. Other players that dominate the market are Springfields Australia, At-Aroma Co., Bella Vita, In Essence, Auroma, and Tilley Aroma Natural.
APAC Essential Oil Market Leaders
-
do Terra
-
Young Living Essential Oils
-
Organic Harvest
-
Aroma Treasures
-
Ultra International BV
*Disclaimer: Major Players sorted in no particular order
APAC Essential Oil Market News
- October 2022: doTERRA introduced a new wellness product that combines pure essential oils, sustainable sourcing, and evidence-based research. Helichrysum touch, LaLuz Diffuser, Roam Diffuser, Dawn Aroma Humidifier, Balance Bath Bar, On Guard Toothpaste, and On Guard Hand Wipes are among the new products.
- September 2022: Blossom Kochhar Aroma Magic launched the Neem and Tea Tree range of products like facewash, body wash, face mask, toner, and anti-pimple gel. The products contain extracts from essential oils, vitamins, and minerals.
- June 2021: Do Terra announced the expansion of its portfolio in Thailand with its new corporate office in Bangkok. The company registered 80 local products to meet local demand for pure, effective, and sustainable essential oils.
APAC Essential Oil Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions & Market Definitions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Product Type
5.1.1 Lavender Oil
5.1.2 Orange Oil
5.1.3 Eucalyptus Oil
5.1.4 Peppermint Oil
5.1.5 Spearmint Oil
5.1.6 Lemon Oil
5.1.7 Rosemary Oil
5.1.8 Geranium Oil
5.1.9 Tea Tree Oil
5.1.10 Others
5.2 Application
5.2.1 Food & Beverages
5.2.2 Aromatherapy
5.2.3 Pharmaceuticals
5.2.4 Cosmetics & Personal Care
5.2.5 Others
5.3 Geography
5.3.1 China
5.3.2 India
5.3.3 Japan
5.3.4 Australia
5.3.5 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Aroma Treasures
6.3.2 Ultra International BV
6.3.3 Organic Harvest
6.3.4 Young Living Essentials
6.3.5 Do Terra
6.3.6 AT-Aroma Co. Ltd
6.3.7 Tilley Aroma Natural
6.3.8 Auroma
6.3.9 Springfields Australia
6.3.10 In Essence
6.3.11 Bella Vita
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
APAC Essential Oil Industry Segmentation
Essential oils are liquid extracts of various beneficial plants and other sources extracted by the distillation process. The Asia-Pacific Essential Oils Market is segmented by product type as lavender oil, orange oil, eucalyptus oil, peppermint oil, spearmint oil, lemon oil, rosemary oil, geranium oil, tea tree oil, and other product types. By application, the market is segmented into food & beverages, aromatherapy, pharmaceuticals, cosmetics & personal care, and other application types. By geography, the market is segmented into China, India, Japan, Australia, and the rest of Asia-Pacific. The report offers the market size and forecasts for the essential oil market in value (USD million) for all the above segments.
| Product Type | |
| Lavender Oil | |
| Orange Oil | |
| Eucalyptus Oil | |
| Peppermint Oil | |
| Spearmint Oil | |
| Lemon Oil | |
| Rosemary Oil | |
| Geranium Oil | |
| Tea Tree Oil | |
| Others |
| Application | |
| Food & Beverages | |
| Aromatherapy | |
| Pharmaceuticals | |
| Cosmetics & Personal Care | |
| Others |
| Geography | |
| China | |
| India | |
| Japan | |
| Australia | |
| Rest of Asia-Pacific |
APAC Essential Oil Market Research FAQs
How big is the Asia Pacific Essential Oils Market?
The Asia Pacific Essential Oils Market size is expected to reach USD 2.26 billion in 2024 and grow at a CAGR of 8.21% to reach USD 3.35 billion by 2029.
What is the current Asia Pacific Essential Oils Market size?
In 2024, the Asia Pacific Essential Oils Market size is expected to reach USD 2.26 billion.
Who are the key players in Asia Pacific Essential Oils Market?
do Terra, Young Living Essential Oils, Organic Harvest, Aroma Treasures and Ultra International BV are the major companies operating in the Asia Pacific Essential Oils Market.
What years does this Asia Pacific Essential Oils Market cover, and what was the market size in 2023?
In 2023, the Asia Pacific Essential Oils Market size was estimated at USD 2.09 billion. The report covers the Asia Pacific Essential Oils Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia Pacific Essential Oils Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
APAC Essential Oil Industry Report
Statistics for the 2024 APAC Essential Oil market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. APAC Essential Oil analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
