United States's Essential Oils Market to Witness 6.3% CAGR Growth, Reaching 53K Tons by 2035 – IndexBox

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IndexBox has just published a new report: U.S. – Essential Oils – Market Analysis, Forecast, Size, Trends And Insights.
Driven by increasing demand, the essential oils market in the United States is expected to show strong growth over the next decade. Forecasts suggest a CAGR of +6.3% in volume and +6.4% in value, leading to significant expansion by 2035.
Driven by increasing demand for essential oils in the United States, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +6.3% for the period from 2024 to 2035, which is projected to bring the market volume to 53K tons by the end of 2035.
In value terms, the market is forecast to increase with an anticipated CAGR of +6.4% for the period from 2024 to 2035, which is projected to bring the market value to $1.2B (in nominal wholesale prices) by the end of 2035.
In 2024, essential oils consumption in the United States declined modestly to 27K tons, approximately mirroring the previous year’s figure. The total consumption volume increased at an average annual rate of +1.9% from 2013 to 2024; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2023 with an increase of 8.9% against the previous year. As a result, consumption reached the peak volume of 27K tons, leveling off in the following year.
The size of the essential oils market in the United States dropped modestly to $630M in 2024, falling by -2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). The market value increased at an average annual rate of +4.3% from 2013 to 2024; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Essential oils consumption peaked at $660M in 2017; however, from 2018 to 2024, consumption remained at a lower figure.
In 2023, approx. 7.3K tons of essential oils were produced in the United States; rising by 207% on the previous year. Over the period under review, production, however, showed a relatively flat trend pattern. Essential oils production peaked at 14K tons in 2017; however, from 2018 to 2023, production failed to regain momentum.
In value terms, essential oils production soared to $221M in 2023. Overall, production showed a notable increase. Essential oils production peaked at $345M in 2019; however, from 2020 to 2023, production remained at a lower figure.
Essential oils imports into the United States surged to 47K tons in 2024, rising by 17% against the previous year’s figure. The total import volume increased at an average annual rate of +2.1% from 2013 to 2024; the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, essential oils imports soared to $1.1B in 2024. Overall, total imports indicated strong growth from 2013 to 2024: its value increased at an average annual rate of +5.0% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 19%. Imports peaked at $1.2B in 2018; however, from 2019 to 2024, imports failed to regain momentum.
In 2024, Brazil (15K tons) constituted the largest supplier of essential oils to the United States, with a 31% share of total imports. Moreover, essential oils imports from Brazil exceeded the figures recorded by the second-largest supplier, India (5.1K tons), threefold. The third position in this ranking was taken by Mexico (4.6K tons), with a 9.8% share.
From 2013 to 2024, the average annual growth rate of volume from Brazil was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (+2.3% per year) and Mexico (+0.8% per year).
In value terms, Brazil ($210M), Mexico ($137M) and India ($104M) appeared to be the largest essential oils suppliers to the United States, together accounting for 41% of total imports.
Brazil, with a CAGR of +15.2%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.
The average essential oils import price stood at $23,489 per ton in 2024, declining by -1.6% against the previous year. Over the last eleven-year period, it increased at an average annual rate of +2.9%. The most prominent rate of growth was recorded in 2014 an increase of 20% against the previous year. Over the period under review, average import prices hit record highs at $28,658 per ton in 2018; however, from 2019 to 2024, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2024, amid the top importers, the country with the highest price was France ($43,826 per ton), while the price for China ($13,526 per ton) was amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Brazil (+14.6%), while the prices for the other major suppliers experienced more modest paces of growth.
For the fourth consecutive year, the United States recorded decline in overseas shipments of essential oils, which decreased by -1.1% to 20K tons in 2024. In general, exports continue to indicate a slight downturn. The pace of growth was the most pronounced in 2017 with an increase of 29%. As a result, the exports attained the peak of 30K tons. From 2018 to 2024, the growth of the exports failed to regain momentum.
In value terms, essential oils exports amounted to $641M in 2024. The total export value increased at an average annual rate of +3.8% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when exports increased by 17%. Over the period under review, the exports reached the maximum at $741M in 2021; however, from 2022 to 2024, the exports remained at a lower figure.
Mexico (2.8K tons), Canada (1.6K tons) and China (1.6K tons) were the main destinations of essential oils exports from the United States, together accounting for 29% of total exports. The Netherlands, Singapore, Japan, the UK, Germany, Italy, India, Ireland and Switzerland lagged somewhat behind, together comprising a further 44%.
From 2013 to 2024, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +7.8%), while the other leaders experienced more modest paces of growth.
In value terms, China ($88M), Ireland ($61M) and Japan ($52M) were the largest markets for essential oils exported from the United States worldwide, with a combined 31% share of total exports. Mexico, Singapore, the Netherlands, Germany, Canada, the UK, India, Switzerland and Italy lagged somewhat behind, together comprising a further 42%.
Among the main countries of destination, Italy, with a CAGR of +14.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
In 2024, the average essential oils export price amounted to $31,875 per ton, picking up by 1.9% against the previous year. In general, export price indicated a resilient expansion from 2013 to 2024: its price increased at an average annual rate of +5.2% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, essential oils export price increased by +49.8% against 2017 indices. The pace of growth appeared the most rapid in 2023 when the average export price increased by 19%. The export price peaked in 2024 and is expected to retain growth in years to come.
There were significant differences in the average prices for the major external markets. In 2024, amid the top suppliers, the country with the highest price was Ireland ($86,936 per ton), while the average price for exports to Italy ($9,549 per ton) was amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for supplies to Ireland (+13.0%), while the prices for the other major destinations experienced more modest paces of growth.
Source: IndexBox Market Intelligence Platform
This report provides an in-depth analysis of the essential oils market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
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The Largest Producers on The Market and Their Profiles
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