Asia Pacific Essential Oils Market Size (2024 - 2029)

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 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.