In 2023, the number of essential oils enterprises in the UK was 66. The forecasted data from 2024 to 2028 indicates a modest and steady growth in the number of enterprises. This increase ranges from 67 enterprises in 2024 to 70 enterprises by 2028. The year-on-year growth is slight, approximately ranging from 1.5% to 1.4% over the period. The compound annual growth rate (CAGR) from 2024 to 2028 is expected to be modest, reflecting incremental growth year-on-year.
Future trends to watch for include:
- Impact of regulatory changes on the industry.
- Increasing consumer interest in wellness and natural products potentially driving demand.
- Expansion opportunities through e-commerce platforms.
- Potential impact of Brexit on supply chains and operations.
