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
Market 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.
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Future:
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