Aromatherapy is an alternative wellness treatment which is used in enhancing physical and psychological well-being. Medical applications of the treatment include wound healing, cold and cough, pain management, cardiovascular and respiratory disorders, digestion problems, and others. The global aromatherapy market report by Market Research Future (MRFR) contains estimations for the period of 2018 to 2023 (forecast period) highlighting the use of new oils and formulations used in alleviating stress levels.
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Market Scope
The global aromatherapy market size is bound to reach USD 4.3 billion by 2023, according to MRFR. It can exhibit a CAGR of 6.18% during the forecast period. It is primarily driven by the non-invasive nature of the therapy, hectic lifestyles of patients, and inclination towards alternative treatment. Burns and scars have been treated with aromatherapy. According to Plastic and Aesthetic Research, burns are accountable for close to 1 million deaths in Brazil annually.
The alternative to pharmaceutical drugs owing to awareness to its adverse effects can drive the demand for aromatherapy. For instance, rosemary oil can heal cold and cough when inhaled. Extensive research on the benefits of the treatment for cancer and other chronic diseases can widen the prospects of the market effectively. Emergence of spa and wellness centers has encouraged the growth of the therapy. Word-of-mouth publicity and advocation by clients have led to the promotion of essential oils and other equipment. Aromatherapy oils have been used in the treatment of insomnia at homes.
Strict regulations pertaining to indications and transparency of ingredients on labels can restrict the global aromatherapy market growth.
Segmentation
The global aromatherapy market is segmented on the basis of product, equipment, application, and therapeutic application. Based on the product, the market has been segmented into essential oils, blended oils, and carrier oils. The essential oils segment is sub-segmented into spicy, herbaceous/camphoraceous, floral, citrus, green/vegetative, and others. Essential oils are used in clinical aromatherapy programs for providing benefits to patients with nausea, anxiety, and other health conditions.
The equipment segment is sub segmented into nebulizer diffuser, ultrasonic diffuser and heat diffuser.
Applications of aromatherapy comprise tropical, inhalation and aerial diffusion.
Lastly, the therapeutic application segment is sub segmented into skin and hair care, relaxation and sleep, pain management, and other remedies.
Regional Analysis
The Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA) are regions analyzed with respect to the scope of the global aromatherapy market.
The Americas can dominate the market primarily to patients in the U.S. opting for complementary and alternative medicine (CAM) therapies. Presence of various companies offering aromatherapy oils for relaxation and alleviation of stress levels can bode well for the market. Europe held the second-largest share of the market owing to establishment of clinics and large expendable income levels of patients. Germany, France, and the U.K. can contribute to regional market growth. The huge trade of aromatherapy products in the region will provide an impetus to the global aromatherapy market.
APAC can showcase the maximum growth owing to unmet health needs in China and India. Rise in the number of accidents and burns have spurred the demand for essential and carrier oils, effectively boosting global market growth. Lastly, the MEA aromatherapy market is likely to expand owing to Saudi Arabia and United Arab Emirates (UAE).
Competition Outlook
Muji, Tree of Life, Young Living, Air Aroma, Neal’s Yard Remedies, NOW Foods, Zija International, Nu Skin, dÅTERRA, and others are key players of the global aromatherapy market. Product developments, partnerships, and expansions are prime strategies of players in the market.
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