Key Market Indicators
The global essential oil market is set for a slight decline over the next five years. According to a report by Markets and Markets, the market was valued at €9.6 billion in 2020, and is forecast to fall to €9.3 billion by 2026, representing a CAGR of 0.8%. Demand for essential oils increased by 0.2% year-on-year in 2020, with the United Kingdom, Spain and Italy taking the second, third and fourth spots in the rankings respectively.
