Natural essential oils derived from plants are of significant importance in various markets, including agricultural, pharmaceutical, healthcare, cosmetics, and hygiene industries. Among aromatic plants, thyme holds a special significance. Thyme essential oil, which can be yellow, brownish, or reddish-brown, is obtained through the distillation of leaves and flowers of Thymus vulgaris and other thyme species. It has a range of applications in the healthcare and cosmetic industries. Therefore, exploring different types of thyme for essential oil production is of interest to various industries. A comparative study of dry matter and essential oil production among 108 populations of 9 Iranian thyme species and 4 populations of agricultural thyme (T. vulgaris) revealed that native Iranian thyme species possess significantly higher economic and pharmacological potential than T. vulgaris. Specifically, certain populations of T. kotschyanus and T. daenensis demonstrated higher yields of dry matter and essential oils. The selection of germplasm for cultivation and use could be strategically aligned with the intended product application. For instance, if the aim is to produce thyme as a seasoning or spice, then population 104 of T. kotschyanus, population 60 of T. fallax, population 91 of T. kotschyanus, and population 107 of T. daenensis are suitable candidates. Conversely, for essential oil extraction, population 104 of T. kotschyanus, population 60 of T. fallax, population 90 of T. daenensis, and population 67 of T. fedtschenkoi are preferable.