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Valued at $1,152.8 million in 2017, the global aromatherapy market is projected to reach $2,343.0 million by 2025, registering a CAGR of 9.4% during the forecast period (2018–2025).
Globally, North America dominated the aromatherapy market, generating $502.7 million revenue, in 2017. The market in the region is primarily driven by high consumption of essential oils for treating various health conditions.
Factors Governing Aromatherapy Market
Rise in disposable income across the globe has led to the increasing adoption of essential oils, which meet the health and wellness needs of people. According to the Holistic Aromatherapy Association (HAA), clary sage, eucalyptus, and ginger essential oils are used as pain relievers, decongestants, and help in digestion, respectively. In addition, the Organization for Economic Co-operation and Development (OECD) stated that the household disposable incomes in Germany and Denmark increased from 1.6% and 1.2% in 2014 to 2.5% and 2.8% in 2016, respectively. This has intrigued patients to experience aromatherapy services in salon and spas for treating various health conditions, such as insomnia, inflammation, stress, anxiety, and pain.
Several benefits of essential oils, such as non-toxic in nature and safe for inhalation as well as for topical use, due to the fact that these are extracted from plants and processed naturally, are expected to drive the aromatherapy market. In addition, growing awareness of their therapeutic use has significantly shifted the preference of the consumers toward these products. Also, there has been a sharp increase in number of people opting for self-medication to deal with different kinds of pain and common cold. Further, various adverse effects of pharmaceutical products are also an important reason for shifting interest of people to use natural essential oils.
Aromatherapy is considered as an alternative medicinal therapy that helps patients to recover from various disorders, such as pain, skin-related problems, cardiovascular disorders, digestion problems, cold and cough, respiratory disorders, immune system dysfunction, anxiety, insomnia, and wounds. Besides, people suffering from pain due to burns also use these oils for massage or opt for inhalation of essential oils for recovery, since burn scars can also be managed by aromatherapy oils. Hence, aromatherapy is used as a complementary therapy for pain relief in patients injured due to burn, leading to the growth of the aromatherapy market.
Aromatherapy Market Segmentation Analysis
The consumables category is expected to witness faster growth during the forecast period, based on product, in the aromatherapy market. This can be mainly attributed to the increasing adoption of several consumables, such as essential oils, as these oils encourage natural healing.
Topical application occupied the largest share in the aromatherapy market, on the basis of mode of delivery, in 2017. This is imputed to the increasing application of aromatherapy oils for various skin-related problems, as these can be diluted in cream or carrier oil and further applying them on the area of the body, wherever necessary.
Relaxation was the largest area of application for aromatherapy during the historical period. This is due to the increasing anxiety and stress among people across the globe, and side effects associated with alternative medicines.
Geographical Analysis of Aromatherapy Market
Among all regions, the APAC aromatherapy market is expected to witness the fastest growth, with a CAGR of 11.8%, during the forecast period. This growth can be attributed to the increasing awareness about health benefits of aromatherapy, high production of essential oils in several APAC countries, and increasing trade of essential oils in and outside the region. In addition, rising medical tourism has led to the increased demand for aromatherapy in the region. For instance, India has its traditional procedure of using various natural resources and essential oils for treating health conditions.
Competitive Landscape of Aromatherapy Market
The aromatherapy market is fragmented in nature, due to the presence of small and big players, such as doTERRA International LLC, Mountain Rose Herbs, Young Living Essential Oils, Edens Garden, Rocky Mountain Oils LLC, Frontier Cooperative, and Plant Therapy Essential Oils. These market players offer a number of products, including ultrasonic diffusers, heat diffusers, evaporative, and nebulizing diffusers.
Recent Strategic Developments of Aromatherapy Market Players
Major players operating in the global aromatherapy market in recent years have taken several strategic steps, including product approvals and product launches, to gain a competitive edge in the industry. For instance, in January 2018, Rocky Mountain Oils LLC launched Ava Shield, a new line of all-natural personal and home care products without containing any harsh chemicals. It is developed from pure essential oil blend, which provides immune strength to the foaming hand soap and hard surface cleaner.
Similarly, in November 2017, Plant Therapy Essential Oils launched KidSafe line of essential oils, a complete set of essential oils specially formulated for children. This product launch has led to the expansion of the company in its KidSafe line.
Aromatherapy Market Size Breakdown by Segment
The aromatherapy market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2025.
Based on Product
Based on Mode of Delivery
Based on Application