Aromatherapy Market Size Is Projected to Reach USD 4.13 Billion at a CAGR of 6.18% By 2023

Aromatherapy Market Size Is Projected to Reach USD 4.13 Billion at a CAGR of 6.18% By 2023

“Aromatherapy Market”
Aromatherapy Market Size and Trends Analysis By Product (Essential Oils, Carrier Oils and blended oils), Equipment (Nebulizer Diffuser, Ultrasonic Diffuser, Heat Diffuser), Application (Tropical, Inhalation, Aerial Diffusion); Therapeutic Application (Relaxation and Sleep, Pain Management, Skin and Hair Care) – Global Forecast to 2023

Market Overview

Global Aromatherapy Market is poised to display a CAGR of 6.18% from 2017 to 2023 (forecast period). It can touch a value of USD 4.3 billion by 2023. Benefits of the treatment after inhalation of the aroma can induce relaxation is likely to bode well for the market. A prime example includes the diffusion of eucalyptus oil can assist in digestion of foods.

Aromatherapy is an alternative form of medicine which relies on scented oils and other essential compounds for improving the well-being of individuals. It can be used in conjunction with other complementary treatments of acupuncture or massage for management of chronic diseases or other medical symptoms. The global aromatherapy market report compiled by Market Research Future (MRFR) contains drivers, trends, developments, and challenges new entrants and existing players can face in the period of 2017 to 2023.

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Changes in lifestyles of consumers and many people opting for the complementary treatment are other major drivers of the market. Clinical trials advocating the advantages of aromatherapy for the treatment of disorders can influence the market considerably. According to Cancer.gov, 58 patients showed a decrease in depression and anxiety after completion of aromatherapy sessions. Availability of various oils at lifestyle stores and online channels can fuel the global aromatherapy market growth till 2023.

But lack of proper regulations and allergic reaction of the oil to customers are factors which can prevent market growth.

Segmentation

The global aromatherapy market is segmented by product, application, and therapeutic application.

By product, it is segmented into essential oils, carrier oils & blended oils, equipment, and others. Essential oils are further segmented into herbaceous/camphoraceous, green/vegetative, spicy, citrus, floral, and others. Ultrasonic diffuser, heat diffuser, and nebulizer diffuser are other segments subsumed within the equipment segment.

By application, it is segmented into aerial diffusion, inhalation, and tropical.

By therapeutic application, it is segmented into skin and hair care, relaxation and sleep, pain management, and others.

Regional Analysis

Asia Pacific (APAC), North America, Europe, and the Middle East & Africa (MEA) are the regions discussed with respect to the market report.

North America is estimated to be one of the profitable regions for the global aromatherapy market till 2023 due to consumers opting for the treatment in the U.S. The large population and their high expendable income levels are major growth drivers of the region.

Europe is the second-largest region with France and Italy proving to be the revenue generators. Pursuance of healthy lifestyles as well as renewed interest among the people residing in the region are prime factors driving market growth. The inclusion of essential oils by popular cosmetic brands can boost the global aromatherapy market demand.

The APAC region can display a robust CAGR during the forecast period driven by consumer demand in China and India. Rising number of accidents combined with the use of oils for treating burns and scars as natural remedies can bode well for the market. Furthermore, old traditions and rituals in addition to the large number of tourists visiting for experiences can bode well for the region.

Lastly, the MEA region can contribute to the market due to the regions of Saudi Arabia and UAE. Efforts by respective governments for promoting tourism can be a viable factor for the expansion of the global aromatherapy market in the region.

Competition Outlook

Muji, Nu Skin, Tree of Life, Neal’s Yard Remedies, NOW Foods, Young Living, Air Aroma, doTERRA, and Zija International are notable industry participants of the global aromatherapy market. Launch of new products and associated stationery are being launched by players for promoting the alternative form of treatment.

Industry News

Aromafloria, the US based producer of bath and body products, has launched aromatherapy-based products in its new product line of Cannafloria Essentials. It contains cannabis terpenes which gives the solutions a distinct aroma.

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