Essential Oils Market to Hit $29.52B by 2031 as Pharma Demand Grows
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HYDERABAD – October 29, 2026 -- The global essential oils market will grow from $20.08 billion in 2026 to $29.52 billion by 2031, a CAGR of 8.10%, according to Mordor Intelligence. Wider use of aromatherapy and pharmaceutical interest in the oils' potential antimicrobial, anti-inflammatory and respiratory properties are driving the expansion.
Aromatherapy moves from spas into hospitals and workplaces
Growing awareness of mental health is taking aromatherapy beyond traditional spa settings into hospitals and workplaces. This opens additional wellness applications for essential oil suppliers. Product consistency, reliable sourcing and suitability for specific uses remain key purchasing considerations as use cases diversify.