Essential oils play a major role in the manufacturing of scented oils, candles, and other scented products. According to a forecast for 2020, the essential oils industry in the United States saw an increase in revenue of nearly two percent, and is expected to reach about 7.3 billion dollars in market value by 2024. The essential oils that make up the largest share of the U.S. market are orange oil, corn mint oil, and eucalyptus oil.
As a country with a rich history of perfume manufacturing, France is also the top exporter of essential oils worldwide. In recent years, the export value of essential oils and resinoids from the United States has grown overall from 2013 to 2019, but declinded slightly in the following yeae. Some countries cannot produce certain varieties of essential oil in large enough quantities to satisfy the local demand and must import them from other countries. China imports the most essential oils of any country worldwide, at around 20.49 billion U.S. dollars in 2020. Northern European countries such as Germany, the Netherlands, and the United Kingdom, account for nearly 70 percent of the orange oil imported to Europe.
Essential oils have seen a revival in popularity in the last several years, and do not appear to be a passing fad. In the United States, lemon oil and orange oil were in very high demand, at around 11 kilotons, and seven kilotons respectively. Citric oils purportedly have antiseptic and anti-inflammatory properties, and can be used in diffusers or as a household cleaner. Tea tree oil is expected to grow in demand to about 8 kilotons by 2024, and is often touted as a home remedy for acne and fungal infections.
