The origins of essential oils date back at least a thousand years, and have been used for medicinal purposes for at least as long. Essential oils are concentrated oils derived from plants that are described as containing “the essence” of the plant. Essential oil can be derived from nearly any plant matter imaginable, from flowers to tree bark. Today, essential oils are used less for medical purposes and more for aromatherapy, skincare, and alternative healing practices. A few of the most commonly used essential oils are tea tree oil, rosemary oil, and lavender oil. The market value of essential oils worldwide is expected to grow from around 17 billion U.S. dollars in 2017 to about 27 billion dollars by 2022. Europe accounts for the largest share of the global essential oils market, with the Asia Pacific region and North America tying for second place.
Essential oils have seen a revival in popularity in the last several years, and do not appear to be a passing fad. In the United States, lemon oil and orange oil were in very high demand, at around 11 kilotons, and seven kilotons respectively. Citric oils purportedly have antiseptic and anti-inflammatory properties, and can be used in diffusers or as a household cleaner. Tea tree oil is expected to grow in demand to about 8 kilotons by 2024, and is often touted as a home remedy for acne and fungal infections.
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Research expert covering Cosmetics, Personal Care, Health & Hygiene industries.