Aromatherapy Market to Generate $4,248 Million Revenue by 2030

The aromatherapy market size is expected to advance at a CAGR of 10.8% during 2021–2030, to reach $4,248 million by 2030.

Increasing Prevalence of Lifestyle-Related Diseases

The increasing disposable income and emergence of technology have changed the lives of people. In doing so, various social, psychological, and biological factors have resulted in health conditions such as mental issues, respiratory diseases, allergies, insomnia, and depression.

According to the American Sleep Foundation (ASF), insomnia is the most-common specific sleep disorder among Americans. Additionally, according to a WHO report, approximately 280 million people globally were depressed in 2021.

Aromatherapy has emerged as a potential natural solution to lift the mood, alleviate depression, and prevent future episodes. The aromatic molecules in essential oils cross the blood–brain barrier and have a direct impact on the areas of the brain that control the feelings of anxiety, stress, and depression. The essential oils of lavender, grapefruit, and chamomile are used the most commonly for treating depression. Thus, the increasing prevalence of lifestyle-associated health conditions is expected to support the demand for essential oils, thereby driving the market.

North America Is Largest Revenue Contributor to Global Market

Globally, North America is the largest market for aromatherapy, generating $707 million revenue in 2021. The dominance of the region on the market is due to the well-established healthcare system, high healthcare spending, and rising awareness of the advantages of alternative therapies.

Furthermore, the majority of the key players in the sector, such as doTERRA International, Young Living Essential Oils, and Frontier Natural Products Co-op, are based in the U.S. and have extensive product portfolios. According to the North American Free Trade Agreement (NAFTA) and U.S. Department of Agriculture, essential oils are among the key exports from the U.S. to Canada. This is a result of the rising awareness about aromatherapy and high purchasing power, both of which are significant factors driving the growth of the market in this region.

Over the projection period, the market in APAC is expected to experience a CAGR of 12.4%. Many countries in the region are adopting new trends and technologies quickly. Therefore, China and Japan are abundant in opportunities for companies producing and trading in essential oils.

Growing Use of Aromatherapy at People’s Homes

Essential oils are a natural solution for various health conditions. Thus, the demand for them for use at homes is rising as essential oils are cheaper than visiting a spa or beauty clinic. Aromatherapy helps in reducing therapy cost as it has common application procedures, such as topical and nasal. People are more comfortable using these oils at their homes. In this regard, the privacy concerns of consumers have shifted their preference toward at-home essential oil usage. Essential oils from ginger, eucalyptus, lavender, and peppermint are commonly used at homes for relaxation, sleep induction, cold and flu, and pain relief. Thus, the increasing preference of consumers for the usage of aromatherapy products at their homes is fueling the growth of the global market.

The current aromatherapy market is majorly dominated by dōTERRA International LLC, Young Living Essential Oils LC, Mountain Rose Herbs, Edens Garden Essentials Corporation, Rocky Mountain Oils LLC, Plant Therapy Essential Oils, NOW Health Group Inc, FLORIHANA, Biolandes SAS, and Stadler Form Aktiengesellschaft.