Global trade of essential oils

Essential oils are ingredients of flavor and fragrance materials mainly in food and beverage, perfumery, cosmetics and toiletries, wellness and aromatherapy, spa and relaxation, healthcare, pharmaceutical and chemical industries. They also possess various biological activities and in recent years their use in feeds as antibiotic substitutes and growth promoters is on the rise. The global essential oils market size was valued at USD 23.74 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 7.6% from 2024 to 2030. Orange oil tops the list of most globally traded essential oils constituting ca. 22% of the global market revenue followed by corn mint, eucalyptus, lemon, lime, peppermint, spearmint, geranium, clove leaf, citronella, jasmine, tea tree, rosemary, lavender oils, etc. Europe dominates the market with Brazil, China, USA, India, Indonesia, Mexico, Morocco, Egypt, Guatemala, etc. major producing countries.