Essential Oil Market Size Estimated To expected to Reached $16,172.2 Million By 2026 – Polaris Market Research
According to a new report published by Polaris Market Research the essential oil market is anticipated to reach USD 16,172.2 million by 2026. In 2017, the orange essential oil segment dominated the global market, in terms of revenue. Europe is expected to be the leading contributor to the global market revenue during the forecast period. A significant increase in disposable income, changing lifestyles, and initiatives by market players to promote healthy lifestyles drive the growth of this market. Other driving factors include increasing incidences of stress and anxiety, growing inclination towards use of natural and organic products, and increasing awareness regarding physical and mental health. The use of essential oils in various applications such as food and beverages, healthcare, pharmaceutical, cosmetics, and aromatherapy further propel the market growth. Increasing demand in developing nations is expected provide numerous growth opportunities to th...