By now, many of you have already heard about the various health benefits of using a new kind of oils which are commonly known as the essential oils. In fact, some of you might have been using the said kind of oils for a long period of time and have been recommending the oils to be used by some of your relatives and friends because of the mere fact that you’ve been enjoying their benefits and also believe that such oils can help other people achieve improvements in their overall health. However, how do you know if the oil that you are applying for cooking purposes for example, is actually an essential oil or not? For starters, essential oil is basically a highly concentrated hydrophobic, liquid-containing volatile aroma compounds that can be extracted from plants. Nowadays, essentials oils, including therapeutic grade essential oils, can be referred to as volatile oils, ethereal oils, or in simplicity, the oil of the plant from where the oil was extracted in the first place. Aside from cooking purposes, essential oils can now be used for making perfumes, cosmetic products, soaps and other products that may need the oil’s fragrance.
According to a recently-released report, the market involving therapeutic grade essential oils and other kinds of essential oils, is expected to reach 11.9 billion US Dollars by the year 2022. In fact, the said market is expected to grow at a compound annual growth rate or CAGR of 8.83% from 2017 to 2022. The said growth can be attributed to various factors such as rising double household income and the equally increase in the amount of disposable income that consumers are able to spend. In addition to this, the growth of the market of essential oils is also associated with the continuous research and development works surrounding the oils, an increase demand for the said oils to be used for food and beverages. Moreover, since these oils can provide additional fragrance, more and more cosmetic product manufacturers around the world are now including essential oils when manufacturing their products whether it’s make-up products, skincare products or other related products.