Essential Oils Dominating
Global Fragrance Market
Researchers reported in Molecules Chemistry Journal on the continued high growth of Essential Oils in the global fragrance market.
The report states that “the global essential oils market size was found to exceed USD 7.51 billion in 2018 and is expected to grow at greater than 9% compound annual growth rate (CAGR) between 2019 and 2026.”
The growing demand for Essential Oils is attributed to a ‘’back to nature” trend that favors natural botanicals over synthetics, which many consumers consider hazardous to their health.
The complex volatile compounds of Essential Oils makes them sought after as fragrances, yet they have many other applications in cosmetics. The researchers noted the numerous health benefits associated with Essential Oils will drive the growth of the market in the coming years.
It was highlighted that expensive perfumes typically contain pure Essential Oils for their complexity in aroma.
While synthetic copies of natural fragrances may be developed, they rarely possess the complexity and therapeutic properties of plant-based oils and could potentially be unsafe for human application, warned the researchers.
The researchers also noted that this lucrative market does lead to an increased incidence of adulteration. Adulteration of Essential Oils has a functional impact and, importantly, poses many safety concerns for consumers.
To learn more about the link between purity and efficacy, read our BLOG.
Our Global Webinar Series (register HERE) focuses on issues like this, with expert representatives from Industry, Academia and Agriculture. We delve into topics pertinent to formulators, buyers, QC, and marketers of formulated products containing botanical ingredients. Our Global Webinar Series targets awareness and education on Native Australian Botanicals and maintaining a sustainable global Essential Oil Industry.
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