Global Aromatherapy Market is Estimated to Value at USD 4.3 Bn by 2023

Aromatherapy Market Synopsis:

Market Research Future (MRFR)'s latest report predicts that the global aromatherapy market is set to strike a CAGR of 6.18 % during the forecast period 2017 to 2023. The global market is estimated to value at USD 4.3 Bn towards the end of 2023. The modernization of lifestyle has paved the way for different problems such as sleep disturbances, breathing disorders, etc. which has catalyzed the demand for aromatherapy across the world.

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The medicinal benefits of the therapy in the treatment of diseases such as cardiovascular disorders (CVD), digestive issues, pain management, respiratory disorders, etc. have further propelled the expansion of the aromatherapy market. It is estimated to exhibit a similar trend in the forthcoming years. Additionally, the aesthetic value added by aromatherapy in the treatment of burns is a major factor responsible for augmenting the global market over the assessment period.

The growing demand for essential oils used in aromatherapy is likely to catapult the market on an upward trajectory. On the flip side, the stringent regulations and side effects of oils are poised to hold the proliferation of the aromatherapy market in the foreseeable future.

Market Segmentation:

By product, the global aromatherapy market has been segmented into essential oils, carrier oils, and blended oils. The essential oils segment is further sub-segmented into floral, citrus, green/vegetative, herbaceous/camphoraceous, spicy, and others.

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

By application, the global aromatherapy market has been segmented into tropical, inhalation, aerial diffusion.

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

Regional Analysis:

The global aromatherapy market, by region, has been segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa. Americas is expected to lead the global market over the assessment period. The growth can be attributed to the widening range of product offerings made available by the key players. Furthermore, the vast market presence of aromatherapy oils is another major factor benefitting the expansion of aromatherapy market in the region. The U.S. is predicted to dominate the regional aromatherapy market in the upcoming years owing to an upsurge in demand.

Europe is an extremely lucrative market placed at second position globally. The driving factors of the aromatherapy market in the region include increasing awareness about the medicinal benefits, rising import and export trade of aromatherapy oils, elevating standards of living, growing disposable income, etc.

Asia Pacific is likely to become the fastest growing region of the global aromatherapy market by the end of the forecast period. The region is forecasted to be led by an upsurge in demand from China and India.

The Middle East & Africa is expected to witness steady growth during the projection period owing to the increase in demand for aromatherapy and essential oils in the Gulf nations particularly the U.A.E. and Saudi Arabia. However, the poor socio-economic conditions of African regions remain impediments to the market growth.

Competitive Dashboard:

Some of the key players profiled in this report are Nu Skin, Tree of Life, Young Living, NOW Foods, Neal's Yard Remedies, Air Aroma, Muji, Zija International, and d?TERRA.

Industry News:

In November 2018, a renowned medical provider in the Greater Cincinnati region, St. Elizabeth Health Care, has announced the addition of aromatherapy to its line of maternity services.

In November 2018, The Gift of Scent LLC, an online e-commerce store, has been launched which offers a variety of fragrance products and various devices such as aromatic diffusers and ultrasonic diffusers.

In November 2018, Cubot, based in Shenzhen, China, has announced the launch of AD36 aromatherapy diffuser ahead of the winter season for tackling skin problems.

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