Latin America Essential Oils Market Size & Outlook
Latin America essential oils market, 2018-2030 (US$M)
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Latin America essential oils market highlights
- The Latin America essential oils market generated a revenue of USD 153.5 million in 2023.
- The market is expected to grow at a CAGR of 8.1% from 2024 to 2030.
- In terms of segment, orange was the largest revenue generating product in 2023.
- Acorus Calamus is the most lucrative product segment registering the fastest growth during the forecast period.
Latin America data book summary
| Market revenue in 2023 | USD 153.5 million |
| Market revenue in 2030 | USD 265.6 million |
| Growth rate | 8.1% (CAGR from 2023 to 2030) |
| Largest segment | Orange |
| Fastest growing segment | Acorus Calamus |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, Latin America region accounted for 0.6% of the global essential oils market in 2023.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 3,663.8 million by 2030.
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Essential Oils Market Scope
Essential Oils Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America 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 7.3% in 2023. Horizon Databook has segmented the Latin America 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.
Central America essential oil market is led by Guatemala, Nicaragua, Costa Rica, and Panama. The region is anticipated to witness a growth in product demand over the coming years owing to increasing awareness regarding the beneficial health impact of essential oil-based products. Honduras, which is located at the center of Central America, is highly dependent on agriculture along with the exploitation of various natural resources.
Gum turpentine, styrax balsam, styrax oil, cardamom oil, and citrus oil are some of the major essential oils produced in Honduras. The country is also a major producer of aromatic balsam. Cardamom oil is another major essential oil in Honduras, which is found mainly in the northwestern part of Copan, Cortes, and Santa Barbara.
The demand for essential oils in South America is primarily driven by Brazil and Argentina, which are the major regions for beverage consumption in terms of per capita consumption across the globe.
Fragrances, cosmetics, and toiletries sectors in this region are witnessing a strong product demand owing to increasing awareness among consumers regarding health, beauty, and hygiene. South America is characterized by a substantial foreign funding in its emerging economies such as Chile, Brazil, and Argentina. However, declining financial aid from the governments, slowed down economic growth, decreasing life standard of the people, and record low approval ratings of the government in power have emerged as some of the major factors restricting the market growth.
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Our clientele includes a mix of essential oils market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America essential oils market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America essential oils market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America Essential Oils Market Outlook Share, 2023 & 2030 (US$M)
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