Surgeries and medicines made from
chemicals are not the remedies for every
medical problem. Sometimes, aromatherapy can heal patients in miraculous ways
if patients can use aromatic plant oils (including essential oils and other
aroma compounds) in the correct manner. Therefore, the market for aromatherapy
is rising due to various factors that include the growing lifestyle industry, large
number of people opting for aromatherapy and non-invasive nature of
aromatherapy. Aromatherapy via essential oils can not only combat cold and
breathing disorders, it can also enhance the
immunity (and resistance against diseases) of the human body. Aromatherapy is also the remedy for problems that are
caused by the modern lifestyle. The
market restraints that are likely to slow down the growth of the aromatherapy market include increasing
stringency of regulations such as indications which a brand has to provide. For
example, the brand needs to mention the category the essential oil falls in.
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Market Research Future (MRFR) has
published a research report about global aromatherapy market. The theory of
this report anticipates 6.18% CAGR (Compound Annual Growth Rate) between 2017
and 2023. In terms of cash, the market growth is expected to reach the US $ 4.3 bn by the end of the forecast period. This report analyzes the
market structure with the forecast for six years, factors affecting market
growth, on the basis of porters five force analysis, price analysis, and supply
chain analysis. It also lists the key players and explores their business
strategies. Market developments that are competitive in nature include the development of new treatments, joint ventures,
mergers and acquisitions, and strategic alliances.
The global aromatherapy market has been
segmented on the basis of the product.
The product-based segmentation covers application, essential oils, equipment,
therapeutic application and lastly region. The application segment has been sub-segmented into inhalation, tropical, and
aerial diffusion. Based on essential oils, the market segmentation comprises of
citrus, floral, green/vegetative, herbaceous/camphoraceous, & spicy and
others. The equipment segment has been segmented into heat diffuser, nebulizer
diffuser, and ultrasonic diffuser. On the basis of therapeutic application, the market
has been segmented into pain management, relaxation and sleep, skin and hair
care, and other remedies.
The regional segmentation of the global Aromatherapy
Market covers North America,
Europe, Asia Pacific, and Middle East & Africa (MEA). The biggest regional
market in the global aromatherapy market in
North America, and the backbone of this
market is the revenue from the United States of America (USA). Due high density
of population and high per capita income, the USA
is a big market by default. The only restraint
in this region is ambiguity and uncertainty of the therapeutic potential of aromatherapy. The second largest and
fastest growing market for aromatherapy is Europe. In Europe, France is the
biggest market for aromatherapy due to a
tradition of aromatics whereas Italy is the second largest market. Majority of
the biggest players of the global
aromatherapy market are also based in North America and Europe. This is also
another reason for these two continents emerging as the two biggest regional
markets. Asia Pacific region is witnessing a steady growth of the aromatherapy market with China being the
biggest market due to the high population
while India is the second largest market here. As China and India have
traditions of aromatherapy, in these countries, the market is high despite
lower per capita income compared to developed regions. In the MEA region, Saudi
Arabia, and United Arab Emirates (UAE) are very lucrative markets due to their
greater wealth and the greater expansion of tourism in these regions. Among
African countries, Algeria, Egypt, and
South Africa. Due to poor income and low expenditure on public healthcare, the market of remaining Africa is low.
Key
Players
The key players in global aromatherapy
market include Air Aroma (USA), Nu Skin (USA),
Muji (Japan), Tree of Life (made by Jaroma), Young Living (USA), Zija
International (China), dÅTERRA (USA), NOW Foods (USA), and Neal’s Yard Remedies
(United Kingdom).
Latest
Industry News
·
Olfinity,
an intelligent air system is set to bring air purification, air quality
assessment, and controlled aromatherapy together in a series of products. These
products are meant to improve indoor health and wellness. The Olfinity series of products includes an air
monitor, air purifier, and aromatherapy
diffuser.
·
Entering the “wellness
market,” popular retailer Anthropologie
is launching a new range of products that includes aromatherapy and essential
oils, books and stationery, coffee and teas, crystals, fitness products, hair
and skin care items, and supplements.
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