by Aromatherapy involves the use of aromatic essential oils extracted from plants to improve psychological and physical well-being. Essential oils are extracted through distillation, Expression, or extraction and are being used in applications such as relaxation, mood enhancement, immunity enhancement, and pain relief. The global aromatherapy market comprises essential oils and carrier oils that are applied by means of massage, direct inhalation, bathing, and application to the skin among others. Oils such as lavender, peppermint, lemon, jasmine, chamomile etc are commonly used in aromatherapy for various wellness applications.
The global aromatherapy Market is estimated to be valued at US$ 6.39 Bn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growing adoption of natural pain relief therapies: The growing prevalence of chronic pain diseases such as arthritis, cancer pain, lower back pain and headaches has compelled individuals to shift towards more natural and alternative therapies like aromatherapy. Essential oils used in aromatherapy such as peppermint, eucalyptus, and lavender have shown potential to reduce pain symptoms without any major side effects. For instance, lavender essential oil is extensively explored for pain relief when applied topically or inhaled. Such proven efficacy of essential oils in pain management without side effects is expected to drive higher adoption of aromatherapy over the forecast period.
Efficacy in stress and anxiety relief: Another major driver for the aromatherapy market growth is its proven efficacy in reducing stress, depression, and anxiety. Daily stress and anxiety issues have become quite prevalent globally due to fast-paced lifestyle and demanding career trends. Essential oils commonly used in aromatherapy like lavender, chamomile, orange etc. are known to positively impact brain functions related to stress and anxiety when inhaled. The psychological relaxation provided through aromatherapy using these essential oils is expected to drive its higher demand.
Segment Analysis
The global Aromatherapy market is segmented into essential oils, carrier oils, and others. Among these, the essential oils segment holds more than 40% of the market share and is expected to continue its dominance over the forecast period. Essential oils are gaining popularity due to their various health benefits which are driving the growth of this sub-segment.
PEST Analysis
Political: The Aromatherapy market is experiencing favorable growth due to supportive government regulations related to use of alternative therapies in many countries.
Economic: Rising middle class population with higher disposable income especially in developing nations is fueling the market growth.
Social: Increasing awareness about advantages of Aromatherapy is influencing customers’ purchase preference. Young population is adopting aromatherapy for relaxation.
Technological: Advancements in extraction methods are helping produce essential oils in larger quantities with better quality. New product formats like roll-on, sticks, sprays etc. are boosting market expansion.
Key Takeaways
The global Aromatherapy market is expected to witness high growth at a CAGR of 8.2% during the forecast period of 2023 to 2030. It is projected to reach a market size of US$ 11.29 Bn by 2030 from US$ 6.39 Bn in 2023.
Regional analysis
The North America region holds the dominant share in aromatherapy market owing to rising awareness about alternative therapies. Europe also captures a significant share on back of large customer base opting for aromatherapy. Asia Pacific market is growing the fastest with increasing disposable incomes coupled with traditional use of aromatherapy in countries like India and China.
Key players
Key players operating in the aromatherapy market are doTERRA International, Koninklijke DSM N.V., International Flavors & Fragrances Inc., Symrise, Eden Garden, Young Living Essential Oils, Frontier Natural Products Corporation, Rocky Mountain Oil, Mountain Rose Herbs, Plant Therapy Inc., Thann-Oryza Co. Ltd, G Baldwin & Co., Ouwave Aroma Tech Co. Ltd, RyohinKeikaku Co. Ltd, and Isagenix International LLC.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
