Summary - A new market study, titled “Global Aromatherapy Market - 2019-2026” has been featured on WiseGuy Reports.
Aromatherapy is an alternative medicine therapy used to treat disorders like skin-related problems, pain management, insomnia, cardiovascular and respiratory disorders, digestion problems, cold and cough, immune system functioning, anxiety, and wound healing. Aromatherapy uses aromatic oils and other aroma compounds for improving psychological or physical well-being. Essential oils are extracted from plants and are processed naturally to form organic products. These products are non-toxic and safe for inhalation and have the potential to be natural cleansers and an antibacterial remedy when ingested. Therapeutic grade essential oils positively impact the overall wellness of the patient. For instance, rosemary oil can cure a person suffering from both headache and cold and cough, if inhaled. In addition, it is good for skin and hair if used topically
According to the National Center for Biotechnology Information (NCBI), a clinical trial was conducted on 50 patients suffering from second- and third-degree burns in 2016, to study the effects of inhaling aromatherapy products. The result showed that aromatherapy can be used as a complementary therapy for pain relief amongst burn patients.
The global aromatherapy market was worth $XX million in 2018 and is forecasted to reach $XX million by 2026, at a CAGR of XX% during the forecast period.
Global Aromatherapy Market Drivers:
The market is driven by the increase in adoption of essential oils as therapeutic agents for treating various diseases, growing use of aromatherapy at-home, increasing consumer preference toward natural products, and growth in lifestyle diseases.
According to Plastic and Aesthetic Research, burns causes one million accidents every year in Brazil. Aromatherapy has proved to be highly effective in burn pain. Pharmaceuticals have various adverse effects and thus people are leaning towards naturally developed products. Bacteria and viruses do not develop resistance to natural substances, the way they do in case of synthetic drugs. Furthermore, pharmaceuticals might damage healthy cells along with the diseased ones, for instance, in the case of cancer therapy. Thus, extensive research is being carried out to study the benefits of essential oils in the management of brain cancer due to the fact that the molecular size of many drugs is large, which makes them ineffective as a treatment solution. On the other hand, essential oils have tiny sized molecules that work effectively without harming the brain. Thus, these products, as a naturally processed medicine have immense potential in treating chronic diseases without damaging the surrounding tissues.
Global Aromatherapy Market Restraints:
The market restraints include stringent regulations, lack of proper guidelines and lack of medical evidence supporting aromatherapy as therapeutics.
Market players need to mention indications, for example, whether the particular essential oil falls under therapeutic grade or cosmetic grade and what dosage is suitable. For instance, Cineole essential oil is poisonous above the recommended dose and an overdose can cause symptoms such as epigastric burning, nausea, vomiting, dizziness, muscular weakness, rapid heartbeat, and feeling of suffocation.
Global Aromatherapy Market Segmentation:
The global aromatherapy market can be segmented by product type as Consumables and Equipment. Consumables are further segmented as Essential Oils and Carrier Oils; Equipment are further segmented as Ultrasonic, Nebulizing, Evaporative, and Heat. By mode of delivery the market is segmented into Topical Application, Aerial Diffusion and Direct Inhalation, by application as Relaxation, Skin & Hair Care, Pain Management, Cold & Cough, Insomnia, Scar Management and Others and by end users as Home Use, Spa & Wellness centres, Hospitals & Clinics and Yoga & Meditation centres.
On the basis of product type, consumables are expected to hold a prominent share during the period of forecast. Essential oils have extensive application in cosmetics, home care, and wellness owing to their nontoxic nature. Essential oils have demand in hospitality sector for diffusers and room fresheners. They are used in cosmetics to improve product value and sensory appeal. Essential oil is believed to firm up the skin, promote elasticity, treat acne, dermatitis, and stretch marks. They also contribute in improving quality of hair, nails, and skin, boosting their appeal among women and female teenage consumers. Lemon oil, a type of essential oil is an effective cleansing agent. Similarly, Eucalyptus oil helps in sinus, bronchitis, coughs and respiratory infections. It has wide applications in pharmaceutical products like cough drops, lozenges, ointments and liniments. It also finds application in dental products like toothpaste, mouth washes along with perfumes and cosmetics like shampoos, facewash and scrubs.
On the basis of end user, home use segment is expected to dominate the market owing to the high usage of the products for therapeutic purposes in a home care setting. Increased usage of aromatherapy for various applications such as relaxation and for treatment of insomnia in homecare settings is a key factor that can be attributed to the growth.
Global Aromatherapy Market Geographical Analysis:
Geographically, the global aromatherapy market is divided into North America, Europe, South America, Asia-Pacific and the Middle East and Africa.
In 2018, North America led the market due to the presence of the majority of key players in the US like doTERRA International, Young Living Essential Oils, and Frontier Natural Products Co-op. These companies have an extensive product portfolio in the field of aromatherapy. Increase in per capita disposable income is one of the factors boosting the growth of the market. According to the U.S. Bureau of Labour Statistics (BLS), there has been an increase in the personal disposable income of the U.S. population. It increased from $11,394 billion in 2006 to $15,929 billion in 2016 and is expected to reach $24,174.5 billion by 2024.
Europe accounted for the second largest market share in 2018 due to the second highest per capita disposable income in the world and the presence of large hospitals. According to the Organization for Economic Co-operation and Development (OECD), the household disposable incomes annual growth rates in Germany and Denmark increased from 1.57% and 1.18% in 2014 to 2.53% and 2.80% in 2016, respectively. Thus, with the increase in household disposable income, the purchasing power of people has increased, leading to their inclination towards experiencing aromatherapy services in spas and salon for treating various health conditions such as anxiety, insomnia, pain, inflammation, and stress.
Global Aromatherapy Market Competitive Analysis:
Some of the key players in the market are dōTERRA, Edens Garden, Young Living Essential Oils, Frontier Natural Products Co-op, Rocky Mountain Oils, Plant Therapy Essential Oils, FLORIHANA, Thann-Oryza Co., Ltd., Mountain Rose Herbs, G Baldwin & Co., Ouwave Aroma Tech Co., Ltd. and Biolandes.
Why purchase the report?
• Visualize the composition of the aromatherapy market across each indication, in terms of type and by type highlighting the key commercial assets and players.
• Identify commercial opportunities in aromatherapy by analyzing trends and co-development deals.
• Excel data sheets with thousands of data points of aromatherapy market- level 4/5 segmentation.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the key products of all major market players.
• Medical device companies
• Hospitals and clinics
• Research and consulting firms
• Healthcare associations/institutes
• Venture capitalists
• Government agencies
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