The Sold Production of Essential Oils in Spain saw a steady rise from 2023 to 2028. In 2023, the value stood at 930.5 million Euros, marking the baseline for comparison. For 2024, the forecasted value is 974.03 million Euros, indicating a 4.7% year-on-year increase. In 2025, the value is projected to reach 1018.6 million Euros, showing a 4.6% growth from the previous year. By 2026, the value is expected to be 1062.8 million Euros, a 4.3% increase. The trend continues with 1106.5 million Euros in 2027 (4.1% growth) and 1149.7 million Euros in 2028 (3.9% growth).
The compound annual growth rate (CAGR) over the forecast period from 2023 to 2028 is projected to be approximately 4.3% per year. This consistent growth can be attributed to increasing demand for natural and organic products, rising consumer awareness, and expanding applications in various industries such as cosmetics, perfumery, and food & beverages.
Future Trends to Watch For:
- Innovations in sustainable sourcing and production techniques.
- Growing consumer preference for natural ingredients in personal care products.
- Expansion of essential oils' applications in healthcare and wellness sectors.
- Potential regulatory changes affecting production and trade.
