The essential oils market size in Spain indicated a steady growth from 2013 to 2023, with the value reaching 1.4249 billion euros in 2023. The YoY variations show fluctuating but overall positive annual growth rates, peaking notably in 2015 with a 16.23% increase. The average annual growth (CAGR) over the last five years stands at 2.58%. Future projections suggest a continued, albeit moderate, growth with a forecasted CAGR of 1.92% from 2024 to 2028, indicating the market is expected to grow by 10% over this period.
Future trends to watch:
- Increasing consumer interest in natural and wellness products
- Innovations and new applications of essential oils
- Impact of regulatory changes on market dynamics
- Emerging online distribution channels
