PORTLAND, Oregon and PUNE, India, November 16, 2016 /PRNewswire/ -- According to a new report published by Allied Market Research titled, "World Essential Oil Market - Opportunities and Forecasts, 2015 - 2022," the world essential oil market is expected to reach $11.5 billion by 2022, with a CAGR of 10.1% from 2016 to 2022. Europe is the dominant market and is expected to be the leading contributor to the global revenue throughout the analysis period, owing to the high adoption of essential oils in this region. In addition, Asia-Pacific region is expected to register the highest CAGR during the forecast period, owing to increasing demand for organic and natural beauty products in countries such as China and Japan, favorable government regulations and technological developments in production and extraction processes of essential oils. (Logo: http://photos.prnewswire.com/prnh/20140911/647229 ) Summary of the essential oil market report can be accessed on the website athttps://www.alliedmarketresearch.com/essential-oils-market Some of the key driving factors of the market are rising inclination towards natural products, growing popularity of relaxation therapies, increasing disposable income resulting in better standards of living, and growing awareness of the probable side effects of chemical substances. The essential oil market is highly dependent on the raw material prices, which are expected to be steady in the near future. Increasing use of essential oils in spa & aromatherapy, flavoring, and fragrance industries has significantly fueled the market growth. Orange essential oil contributed the highest revenue in the global market in 2015, constituting around 22% of the overall market revenue. The segment is expected to remain the highest contributor by 2022, with a projected CAGR of around 11% from 2016 to 2022. From a growth perspective, the market for corn mint essential oil is expected to register the highest CAGR, due to its increasing global demand on account of its antibacterial properties and strong menthol aroma.