Essential oils are indeed getting more and more famous nowadays. It is a vital resource for the fragrance and flavor manufacturing process. Many companies also started selling essential oils as aromatherapy directly to retail customers. With very high usage and application, undoubtedly, the essential oils market is growing fast each year. Below are all the essential oils industry statistics and data that we find and compiled.
- The global essential oils market value in 2017 is estimated at $17.36 Billion and is expected to reach $27.5 Billion (Over 50% increase) in 5 years. (Statista)
- Organic essential oils are starting to get more attention. In 2016 the total market value for Organic Essential Oils was reaching $4.38 Billion and expected to grow to $5.39 Billion in 2021. (Statista)
- Lavender oil’s market value in 2014 is estimated at $26.24 Million, and in 2017 it was increased to $33.76 Million and expected to reach $44 Million by 2022. (Statista)
- Citrus oil’s market has been growing since 2017, with $6.6 Billion in 2017 increased to $6.9 Bio in 2018 and $7.3 Billion by 2019. The market values in 2022 are forecasted to reach $8.6 Billion. (Statista)
- In 2017 the United State’s essential oils industry booked annual revenue growth by 9.7% and 7.48% in 2018. (Statista)
- The estimated value of essential oil market in the United States keeps growing every year from $3.99 Billion in 2017, $4.35 Billion in 2018, and $4.74 Billion in 2019. (Statista)
- The top 5 countries with the highest export value of essential oils and resinoids in 2019 are:
- United States with $13.86 Billion
- Germany with $11.7 Billion
- Singapore $9.67 Billion
- Ireland $8.75 Billion
- South Korea $6.5 Billion
- While here are the top 5 countries with the highest import value
- United States with $14.58 Billion
- Germany with $8.35 Billion
- United Kingdom with $6.54 Billion
- China, Hong Kong SAR with $6.4 Billion
- Singapore with $4.79 Billion
- Global essential oils market demand is estimated at 226.9 kilotons in 2018 and 246.4 kilotons in 2019 and forecasted to reach more than 300 kilotons by 2022. (Statista)
- While in the United States, the demand for 2018 and 2019 is 84.28 kilotons and 93.4 kilotons. (Statista)
- Top 5 high demand essential oils in the United States market based on 2018 data
- Lemon 11.1 kilotons
- Orange 6.8 kilotons
- Peppermint 5.3 kilotons
- Tea Tree 4.3 kilotons
- Eucalyptus 4 kilotons
Lastly, if you are like to find out more about how some essential oils smell, you can check our post below. By the way, it was written by a professionally trained perfumer.
- What Does Bergamot Smell Like?
- How Does Ylang-Ylang Smells?
- What Does Jasmine Smell Like?
- What Does Patchouli Smell Like?