Global Aromatherapy Market Growing at a CAGR of ~6.18% By Market Growth, Trends, Absolute Opportunity and Value Chain 2018 to 2023

Market Scenario

The global aromatherapy market is predicted to expand at 6.18 % CAGR during the forecast period (2017-2023) owing to the growing lifestyle industry, asserts Market Research Future (MRFR). Aromatherapy uses aromatic compounds and aromatic oils for improving physical or psychological well-being. Medicines and surgeries are not remedies for every medical problem. Aromatherapy can sometimes heal patients if one uses aromatic plants correctly.

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Drivers and Constraints Impacting the Market

An alternative medicine therapy, aromatherapy is used to treat several disorders. The medical applications incorporate anxiety, respiratory disorders, cardiovascular disorders, digestion problems, cold & cough, skin-related problems, immune system functioning, insomnia, wound healing, and pain management. People suffering from acne problems usually opt for therapeutic grade essential oils. Essential oils are extracted from plants and hence are non-toxic and safe for inhalation. This is anticipated to generate high demand for aromatherapy products thus driving the market growth during the assessment period.

A large number of the population are opting for aromatherapy products due to its non-invasive nature. The growing lifestyle is facing ushered problems such as stress and sleep disturbances which have inflated the aromatherapy market to a large extent. Also, several adverse effects of pharmaceuticals are encouraging the use of aromatherapy among the people. For instance, rosemary oil can cure both headache and cough & cold if inhaled. Pharmaceuticals can also damage healthy cells along with the diseased cell in case of cancer therapy. Research is being carried out to study the benefits of essential oils in treating brain cancer owing to the fact that the molecular size of several drugs are large and hence is ineffective as a treatment solution. Whereas, essential oils have tiny sized molecules and are estimated to work effectively without harming the healthy brain cells.

On the flip side, increasing strict mandates like indication which a market player has to provide are estimated to act as a restraining factor over the review period. For instance, market players require to mention whether a particular essential oil falls under cosmetic grade or therapeutic grade. Moreover, lack of guidelines and the toxic nature of essential oils is considered to be another factor inhibiting the market growth during the review period. For instance, Cineole essential oil can be poisonous if consumed above the recommended dose and overdose may result in dizziness, vomiting, nausea, suffocation, muscular weakness, burning of the epigastric, and rapid heartbeat.

Global Aromatherapy Market: Segmental Analysis

The global aromatherapy market has been segmented on the basis of product. By mode of product, the aromatherapy market has been segmented into equipment, essential oils, therapeutic application, and application.

The segment for essential oils has been sub-segmented into herbaceous/camphoraceous, spicy, green/vegetative, citrus, floral, and others.

By mode of equipment, the aromatherapy market has been segmented into heat diffuser, ultrasonic diffuser, and nebulizer diffuser.

By mode of application, the aromatherapy market has been segmented into inhalation, tropical, and aerial diffusion.

By mode of therapeutic application, the aromatherapy market has been segmented into pain management, sleep and relaxation, skin and hair care, and other remedies.

Regional Insights

Geographically, the aromatherapy market spans across North America, Europe, Asia-Pacific, and the Middle East and Africa.

Among all the regions, North America holds the largest market share with the United States generating the maximum revenue. Owing to high per capita income and high-density population, USA holds the maximum share. The only constraining factor affecting this region is the uncertainty and ambiguity of therapeutic potential of aromatherapy.

Europe is estimated to be the second largest and the fastest growing market. France is the biggest market in this region owing to the due to tradition of aromatics, while Italy is the second largest market in this region. Asia Pacific is estimated to witness a steady growth rate with China being the largest market owing to large population count.

UAE and Saudi Arabia are lucrative markets in the MEA region due to greater tourism expansion and greater wealth in these regions.

Industry News

August 20, 2018: Urban Pulse, a handmade business out of Baltimore, is launching its Harvest Moon Collection of plant-based, natural and organic skin care for women. The Fall product line caters to sensitive and problematic skin using premium-quality ingredients comprising clay, essential oils, natural oils, and butter.

Competitive Analysis

Some of the major players operating the aromatherapy market are Neal’s Yard Remedies (United Kingdom), Zija International (China), dōTERRA (USA), Air Aroma (USA), Young Living (USA), NOW Foods (USA), Nu Skin (USA), Muji (Japan), and Tree of Life (made by Jaroma).

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