U.S.: Essential Oils Market 2024

Essential Oils Market Size in the U.S.

In 2022, the U.S. essential oils market increased by X% to $X, rising for the second consecutive year after three years of decline. Overall, consumption showed a resilient increase. Over the period under review, the market hit record highs in 2022 and is likely to see steady growth in years to come.

Essential Oils Production in the U.S.

In value terms, essential oils production reduced markedly to $X in 2022. Over the period under review, production showed a abrupt curtailment. The growth pace was the most rapid in 2021 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Essential Oils Exports

Exports from the U.S.

In 2022, approx. X tons of essential oils were exported from the United States; which is down by X% compared with the previous year's figure. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, essential oils exports shrank sharply to $X in 2022. In general, total exports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2021, and then shrank rapidly in the following year.

Exports by Country

Mexico (X tons), Canada (X tons) and Japan (X tons) were the main destinations of essential oils exports from the United States, together comprising X% of total exports. China, the Netherlands, Singapore, the UK, Switzerland, India, Ireland, Germany, Italy and France lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and Mexico ($X) were the largest markets for essential oils exported from the United States worldwide, together accounting for X% of total exports.

Among the main countries of destination, China, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average essential oils export price amounted to $X per ton, with a decrease of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 when the average export price increased by X%. The export price peaked at $X per ton in 2021, and then shrank in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Essential Oils Imports

Imports into the U.S.

Essential oils imports into the United States expanded remarkably to X tons in 2022, with an increase of X% on 2021 figures. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of X%. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, essential oils imports rose modestly to $X in 2022. Overall, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Brazil (X tons), Mexico (X tons) and India (X tons) were the main suppliers of essential oils imports to the United States, with a combined X% share of total imports. China, Argentina, Canada, Germany, Italy, Indonesia, Costa Rica, France, Spain and Singapore lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Singapore (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest essential oils suppliers to the United States were Mexico ($X), India ($X) and Brazil ($X), together comprising X% of total imports. China, France, Argentina, Indonesia, Canada, Italy, Germany, Singapore, Spain and Costa Rica lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Singapore, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average essential oils import price amounted to $X per ton, shrinking by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2014 an increase of X% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :