Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Aromatherapy market.
Trusted Business Insights presents an updated and Latest Study on Aromatherapy Market 2020-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Aromatherapy market during the forecast period (2020-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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The global aromatherapy market is expected to value at over US$ 1 Bn in 2019 and is expected to register a CAGR of 6.8%. The report offers in-depth insights, revenue details, and other vital information regarding the global aromatherapy market and the various trends, drivers, restraints, opportunities, and threats in the target market until 2028. The global aromatherapy market report has been segmented on the basis of product type, route of administration, application, and region.
Global Aromatherapy Market: Introduction
Aromatherapy is an alternative medicine therapy and the essential oils used in this practice are safe and effective for combating bacteria, fungus, and viruses. In addition, therapy is known to alleviate acute respiratory infections, viral infections, influenza, and bronchitis. The main areas of application of aromatherapy include skin-related problems, pain management, cardiovascular and respiratory disorders, anxiety, insomnia, cold and cough, immune system functioning, and wound healing. The benefits are, eliminates feeling of depression, provides relief from insomnia & stress, boosts immune system & digestive system, increases circulation & energy levels in the body, helps in treating constipation, indigestion, and bloating, and reduces severity and discomfort caused by psoriasis and eczema.
Global Aromatherapy Market: Dynamics
Aromatherapy is increasingly being used in homes for benefits such as relaxation and sleep, treatment of insomnia, mood enhancement, cold and flu relief, and pain relief is a major factor expected to drive growth of global aromatherapy market.
According to a document published by Holistic Aromatherapy Association (HAA), clary sage can be used to relieve pain, eucalyptus as a decongestant, and ginger aids in digestion, and these are the most commonly used essential oils by consumers
In addition, prominent players in the target market are using essential oils with health benefits in product innovations, owing to shift and higher demand of consumers of products that offers relaxing, balancing or energizing, and comforting based on properties and traditional use of essential oils.
According to data published by Eurostat 2018, over 85% of the global aromatherapy market comprises sale of pure essential oil carrier or base oils (vegetable oils used to dilute essential oils such as apricot kernel oil, grapeseed oil, rosehip oil, and pomegranate seed oil) in blends of essential oils
However, lack of proper guidelines and toxic nature of essential oils and stringency of regulations such as indications which a producer needs to mention regarding category each essential oil, are some of the major factors expected to hamper growth of the global aromatherapy market
Global Aromatherapy Market Analysis by Product Type:
Among the product type segments, the consumables segment is expected to contribute major revenue share in the global aromatherapy market and is expected to register the highest CAGR of over 6.5% over the forecast period. This is primarily owing to increasing shifting preference of individuals across the globe towards aromatherapy, due to various reasons such as ability to rejuvenate skin and control hair fall. In addition, rising disposable income and hectic as well as sedentary lifestyle are another key factors expected to result in more individuals seeking natural approaches to combat or alleviate minor ailments and conditions.
Global Aromatherapy Market Analysis by Route of Administration:
Among the route of administration segments, the topical application segment is expected to contribute major revenue share in the global aromatherapy market and is expected to register the highest CAGR of over 6.5% over the forecast period. This can be attributed to increasing research and development activities for producing new and innovative products and ingredients for topical application.
Global Aromatherapy Market Analysis by Application:
Among the application segments, the pain management segment is expected to contribute major revenue share in the global aromatherapy market and is expected to register the highest CAGR of over 6.4% over the forecast period.
Global Aromatherapy Market Analysis by Region:
North America market is expected to dominate the global aromatherapy market and is projected to account for the largest revenue share as compared to that of markets in other regions. The major driving factors for growth of the aromatherapy market in this region are, increasing number of Spas provide massage services impart a feeling of peace and pleasure, to trigger health benefits, and for wellness in the region.
In May 2019, US-based ANAVIA, which is a leading jewelry company, launched new and stylish aromatherapy jewelry and accessories collection featuring around 300 pieces
Europe market is expected to register second highest revenue in the global aromatherapy market. This is due to, growing adoption of essential oils has resulted in emergence and acceptance of a wide range of products available at retail stores. In addition, increasing inclination of younger consumers towards more natural and trending products is another factor expected to drive growth of global aromatherapy market.
For instance, In May 2019, Givaudan, which is the global leader in flavors and fragrances, acquired France-Albert Vieille, which specializes in natural ingredients used in the fragrance and aromatherapy markets
Asia Pacific market is expected to register the highest CAGR of over 7.0% over the forecast period. This is primarily attributed to increasing number of Spas offering aromatherapy has been steadily increasing, especially in developing countries such as India, and franchises are springing up rapidly is a major factor expected to drive growth of the Asia Pacific aromatherapy market.
Global Aromatherapy Market Segmentation:
Segmentation, by Product Type:
Segmentation, by Route of Administration:
- Arial Diffusion
- Direct Inhalation
- Topical Application
Segmentation, by Application:
- Pain Management
- Skin and Hair Care
- Cold and Cough
Segmentation, by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Key Market Players included in the report: Global Aromatherapy Market
- doTERRA International LLC
- Edens Garden Inc.
- Young Living Essential Oils LC
- Frontier Natural Products Co-op Inc.
- Rocky Mountain Oil Corp.
- Mountain Rose Inc.
- Nu Skin Enterprises, Inc.
- Air Aroma Co. Ltd.
- Ryohin Keikaku Co., Ltd., or Muji
- Zija International, Inc.
Key Insights Covered: Global Aromatherapy Market
1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Aromatherapy industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Aromatherapy industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Aromatherapy industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Aromatherapy industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Aromatherapy industry.
Research Methodology: Global Aromatherapy Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
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