Report Update: Apr 1, 2024

U.S. - Essential Oils - Market Analysis, Forecast, Size, Trends And Insights

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Essential Oils Price in the United States - 2023

Essential Oils Price in the United States (CIF) - 2023

In August 2023, the average essential oils import price amounted to $28,854 per ton, increasing by 17% against the previous month. In general, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in June 2023 an increase of 23% month-to-month. The import price peaked at $29,224 per ton in August 2022; however, from September 2022 to August 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was France ($62,134 per ton), while the price for Brazil ($12,601 per ton) was amongst the lowest.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Spain (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Essential Oils Price in the United States (FOB) - 2023

In August 2023, the average essential oils export price amounted to $36,369 per ton, increasing by 18% against the previous month. Over the period from August 2022 to August 2023, it increased at an average monthly rate of +2.7%. The growth pace was the most rapid in January 2023 an increase of 38% against the previous month. The export price peaked in August 2023.

Prices varied noticeably by the country of destination: the country with the highest price was China ($62,058 per ton), while the average price for exports to Mexico ($12,246 per ton) was amongst the lowest.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Essential Oils Imports in the United States

In 2022, approx. 46K tons of essential oils were imported into the United States; growing by 6.1% against 2021. The total import volume increased at an average annual rate of +6.0% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 when imports increased by 15% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

In value terms, essential oils imports stood at $1B in 2022. The total import value increased at an average annual rate of +2.7% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 9.9% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

Import of Essential Oils in the United States (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Mexico	61.8	50.9	69.0	123	25.8%
India	118	118	121	113	-1.4%
Brazil	82.2	76.3	75.4	110	10.2%
China	74.0	95.9	98.6	91.9	7.5%
France	110	112	106	72.8	-12.9%
Argentina	103	33.6	64.6	67.3	-13.2%
Indonesia	37.2	41.9	48.5	46.4	7.6%
Canada	29.5	35.0	43.2	46.3	16.2%
Italy	39.9	31.7	36.9	40.6	0.6%
Germany	21.2	23.0	32.5	36.6	20.0%
Singapore	4.2	4.2	12.0	22.5	75.0%
Spain	18.4	18.8	22.2	17.8	-1.1%
Costa Rica	7.4	3.9	6.1	9.3	7.9%
Others	257	270	270	245	-1.6%
Total	964	915	1,006	1,043	2.7%

Top Suppliers of Essential Oils to the United States in 2022:

Brazil (12.9K tons)
Mexico (6.7K tons)
India (5.0K tons)
China (3.5K tons)
Argentina (2.6K tons)
Canada (2.0K tons)
Italy (1.9K tons)
Germany (1.9K tons)
Indonesia (1.4K tons)
Costa Rica (1.0K tons)
France (1.0K tons)
Spain (0.8K tons)
Singapore (0.7K tons)

Essential Oils Exports in the United States

In 2022, shipments abroad of essential oils decreased by -11.9% to 23K tons, falling for the second consecutive year after two years of growth. In general, exports recorded a pronounced slump. The pace of growth was the most pronounced in 2020 with an increase of 0.7%. As a result, the exports reached the peak of 27K tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, essential oils exports contracted sharply to $605M in 2022. Over the period under review, exports saw a perceptible reduction. The most prominent rate of growth was recorded in 2021 when exports increased by 6.7%. As a result, the exports attained the peak of $741M, and then contracted rapidly in the following year.

Export of Essential Oils in the United States (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	96.7	120	119	88.3	-3.0%
Japan	59.1	43.2	45.7	50.9	-4.9%
Mexico	34.3	41.8	58.0	45.9	10.2%
Canada	70.8	56.3	54.7	43.1	-15.2%
Netherlands	69.0	81.6	66.9	43.0	-14.6%
Ireland	35.0	26.6	39.0	33.4	-1.5%
United Kingdom	37.9	27.2	34.5	30.5	-7.0%
Singapore	31.9	23.4	22.8	28.1	-4.1%
Germany	21.7	24.9	25.2	25.1	5.0%
Switzerland	22.4	19.6	17.4	21.8	-0.9%
India	18.5	12.4	11.9	16.9	-3.0%
France	11.1	15.4	16.3	12.2	3.2%
Italy	4.4	1.4	3.1	5.0	4.4%
Others	169	201	226	161	-1.6%
Total	682	695	741	605	-3.9%

Top Export Markets for Essential Oils from the United States in 2022:

Mexico (3.4K tons)
Canada (2.7K tons)
Japan (2.1K tons)
China (1.9K tons)
Netherlands (1.5K tons)
Singapore (1.0K tons)
United Kingdom (1.0K tons)
Switzerland (0.9K tons)
India (0.8K tons)
Ireland (0.8K tons)
Italy (0.7K tons)
Germany (0.7K tons)
France (0.6K tons)

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.

Product coverage:

Prodcom 20531020 - Essential oils

Country coverage:

United States

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the U.S.
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023