In 2023, Germany's production of concentrates of essential oils in fats was 1.155 million kilograms. The forecast for 2024 is set at 1.1706 million kilograms, marking a 1.35% increase from the previous year. The subsequent years show a steady growth trend: 1.30% (2025), 1.28% (2026), 1.25% (2027), and 1.23% (2028). The compound annual growth rate (CAGR) from 2024 to 2028 is approximately 1.28%. This consistent year-on-year increase suggests a stable expansion for the industry.
Future trends to monitor:
- Consumer preferences shifting towards natural ingredients might boost demand.
- Regulatory changes impacting production or ingredient sourcing can influence growth.
- Technological advancements in extraction could enhance production efficiency.