Market Scenario
Market Research
Future (MRFR) postulates that the aromatherapy
market is estimated to garner USD 4.3 billion, grabbing a healthy CAGR of
6.18 % during the forecast period (2017-2023). The non-invasive nature of
aromatherapy is encouraging the market growth. Aromatherapy is practiced across
the globe to treat several conditions like burns, eczema, acne, skin rashes,
etc. and is also being gradually approved for pain management. Aromatherapy is
common among the geriatric population as they help to heal chronic pain. The
procedure is progressively being used at homes for instant relief from cold and
flu, relaxation and sleep, mood enhancement, and pain relief. They are cost-effective,
offer privacy and convenience. Aromatherapy finds application in the skin and
hair care, relaxation, cold and cough, pain management, scar management,
insomnia, and others.
Market Potential and Pitfalls
The aromatherapy
market is experiencing an up thrust across the globe with a large number of the
global population opting for aromatherapy, non-invasive nature of aromatherapy,
and increasing lifestyle industry. The modern lifestyle is encircled with
problems such as stress and sleep disturbances which have further inflated the
market growth. Aromatherapy used aromatic and other essential oils which helps
to combat cold, increase immunity and improve breathing disorders. Such
benefits have encouraged the aromatherapy market worldwide. The surging practice
of aromatherapy at home, growing customer fondness towards the use of natural
products, and the high prevalence of lifestyle diseases are likely to propel
the market growth in the coming years.
Essential oils
used in aromatherapy possess several natural healing factors. Therapeutic grade
essential oils have a positive impact on the overall wellness of the patient.
They are considered a natural cleanser and also an antibacterial remedy when
ingested. Moreover, people across the globe are becoming aware of the benefits
provided by such natural therapies, which is further encouraging the market
growth. Consumers are buying cosmetic products integrated with aromatherapy
ingredients and essential oils. Aromatherapy products including and creams,
bath salts, and massage oils are popular among the consumers. Manufacturers are
thus offering a varied range of aromatherapy consumables which consist of
natural ingredients, pleasant smell, and relaxing properties. Oils such as
lavender, lemongrass, and peppermint are gaining huge prominence among the
manufactures. Such factors are influencing the growth of the aromatherapy
market across the globe.
On the contrary,
the toxic nature of the essential oils and a dearth of proper guidelines are
considered some of the top barriers vitiating the market growth across the
globe. For instance, Cineole is an essential oil which can be poisonous above
the recommended dose. An overdose can cause nausea, epigastric burning,
dizziness, vomiting, rapid heartbeat, muscular weakness, feeling of
suffocation, etc.
Global Aromatherapy Market: Segmental Analysis
The global
aromatherapy market has been segmented on the basis of product, application,
and therapeutic application.
By mode of
product, the global aromatherapy market has been segmented into essential oils
and equipment. Among these, the essential oils segment is likely to gain
prominence in the coming years owing to the increased awareness regarding the
therapeutic value of these oils.
By mode of
application, the global aromatherapy market has been segmented into inhalation,
tropical, and aerial diffusion.
By mode of
therapeutic application, the global aromatherapy market has been segmented into
relaxation and sleep, skin and hair care, pain management, and other remedies.
Among these, the relaxation & sleep segment is considered to gain
prominence in the coming years owing to the surging number of people suffering
from stress and anxiety along with the side effects associated with alternative
medicines.
Regional Insights
Geographically,
the aromatherapy market span across regions namely, Europe, North America, Asia
Pacific, and the Middle East & Africa.
Considering the
global scenario, the North American region is the most prominent region in the
global market with the U.S. generating the maximum revenue. The high per capita
income and high population density are the top two factors encouraging the
market growth in this region. The surging awareness among the people regarding
the health benefits of essential oils and aromatherapy coupled with the rising
demand for herbal products for personal care are contributing to the growth of
the market.
The European
region is estimated to occupy the second spot and is likely to expand at the
fastest speed. France is considered the largest market in this region owing to
the tradition of aromatics. The presence of prominent market players has
further influenced the market growth.
The Asia Pacific
region is experiencing steady growth with China being the largest market owing
to the presence of a large population. The region has proved to be a potential
region for the market players owing to the surging incidences of lifestyle and
chronic diseases, high population base, and growing disposable income of the
people. Medical tourism makes the region a lucrative region for aromatherapy as
economies like India having the traditional process of using natural resources
and essential oils for treating various illness attract tourists across the
globe.
Industry Updates
March 27, 2019:
Lunaroma Aromatic Apothecary in Burlington offer over hundreds of essential
oils and they are now making their way into modern medicine with doctors using
the age-old technique to help their patients.
Competitive Dashboard
The prominent
players operating the global aromatherapy market comprises NOW Foods, Muji,
Tree of Life, Young Living, Neal’s Yard Remedies, dōTERRA, Zija International,
Nu Skin, Air Aroma, and others.
Read more @ https://www.marketresearchfuture.com/reports/aromatherapy-market-3241
NOTE:
Our team of researchers are studying Covid19 and its impact on various industry
verticals and wherever required we will be considering covid19 footprints for a
better analysis of markets and industries. Cordially get in touch for more
details.
About
Market Research Future:
At Market Research Future
(MRFR), we enable our customers to unravel the complexity of various industries
through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR),
Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research
& Consulting Services.
Contact:
Akash
Anand
Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com
