Australia Essential Oils Market Size & Outlook, 2023-2030
Australia essential oils market, 2018-2030 (US$M)
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Australia essential oils market highlights
- The Australia essential oils market generated a revenue of USD 38.2 million in 2023 and is expected to reach USD 72.1 million by 2030.
- The Australia market is expected to grow at a CAGR of 9.5% from 2024 to 2030.
- In terms of segment, orange was the largest revenue generating product in 2023.
- Ajowan is the most lucrative product segment registering the fastest growth during the forecast period.
Essential oils market data book summary
| Market revenue in 2023 | USD 38.2 million |
| Market revenue in 2030 | USD 72.1 million |
| Growth rate | 9.5% (CAGR from 2023 to 2030) |
| Largest segment | Orange |
| Fastest growing segment | Ajowan |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Acorus Calamus, Ajowan, Basil, Black pepper, Cardamom, Carrot Seed, Cassia, Cedarwood, Celery, Cinnamon, Citronella, Clove, Cornmint, Cumin Seed, Curry Leaf, Cypriol, Davana, Dill Seed, Eucalyptus, Fennel, Frankincense, Garlic, Ginger, Holy Basil, Juniper Berry, Lemon, Lemongrass, Lime, Mace, Mustard, Neem, Nutmeg, Orange, Palmarosa, Pepper Mint, DMO, Rosemary, Spearmint, Turmeric, Vetiver, Ciz-3 Hexanol, Tea Tree |
| Key market players worldwide | Biolandes, Young Living, DoTERRA, New Zealand Energy Corp, Flavex Naturextrakte, Falcon Oil & Gas Ltd, Ungerer & Company |
Other key industry trends
- In terms of revenue, Australia accounted for 0.2% of the global essential oils market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China essential oils market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,007.4 million by 2030.
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Essential Oils Market Scope
Essential Oils Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Australia essential oils market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to essential oils market will help companies and investors design strategic landscapes.
Orange was the largest segment with a revenue share of 7.59% in 2023. Horizon Databook has segmented the Australia essential oils market based on acorus calamus, ajowan, basil, black pepper, cardamom, carrot seed, cassia, cedarwood, celery, cinnamon, citronella, clove, cornmint, cumin seed, curry leaf, cypriol, davana, dill seed, eucalyptus, fennel, frankincense, garlic, ginger, holy basil, juniper berry, lemon, lemongrass, lime, mace, mustard, neem, nutmeg, orange, palmarosa, pepper mint, dmo, rosemary, spearmint, turmeric, vetiver, ciz-3 hexanol, tea tree covering the revenue growth of each sub-segment from 2018 to 2030.
In 2020, Australia witnessed a sluggish growth in essential oils market. Furthermore, in the recent years, the essential oil production in the country has been declining. The factors such as high capital setup, maintenance & processing costs, droughts, lower government support have been hindering the new crop production in Australia.
Thus, the country mostly relies on the imports of essential oils. Essential oils have been already popular in Australia since ancient times, however, in the recent years the increasing number of lifestyle-related diseases such as diabetes, obesity, and cardiovascular problems are responsible for providing a substantial growth opportunity for essential oils in the food & beverage application segment.
LOHAS – Lifestyles of Health & Sustainability trend is a major factor contributing to the growth in the overall functional food & beverage consumption in the country. Industry participants are trying to boost their sales by creating awareness regarding the benefits of essential oils.
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Target buyers of Australia essential oils market databook
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Our clientele includes a mix of essential oils market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Australia essential oils market , including forecasts for subscribers. This country databook contains high-level insights into Australia essential oils market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Australia essential oils market size, by product, 2018-2030 (US$M)
Australia Essential Oils Market Outlook Share, 2023 & 2030 (US$M)
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