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.
Market Overview
As per MRFR, the 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.
Changes in lifestyles of consumers and a large number of 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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Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune – 411028
Maharashtra, India
+1 646 845 9312
Email: sales@marketresearchfuture.com
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