The global aromatherapy market is estimated to grow at a CAGR of around 10% during the forecast period. Spending on beauty products is on a significant rise throughout the globe. Urbanization is leading to a modern lifestyle which has urged individuals to focus on physical appearance, thus more and more individuals are adopting various beauty products for wellness. The primary factors that are driving the global aromatherapy industry growth include raising awareness about the therapeutic uses of essential oils over pharmaceutical products. There are numerous side effects linked with pharmaceutical products, which are enhancing the use of these natural and organic products, such as rosemary oil is utilized for the treatment of headache and cold & cough. In addition, it is also utilized for the treatment of skin and hair care products if used topically.
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Further, rising disposable income has led to the increased adoption of essential oils, which meet the health and wellness needs. Besides, government initiatives and several events promoting the natural and organic ways of treatment, such as the International Conference Workshops and Trade Show, IFPAroma 2020 in Japan, are also encouraging the global aromatherapy market growth. Clary sage, eucalyptus, and ginger essential oils are used as pain relievers, decongestants, and help in the digestion. An increasing obsession with physical appearance, rising disposable income, and the availability of advanced & user-friendly products are the major factors that have played an imperative role in the increased spending on beauty and personal care products include Biolandes, doTERRA International LLC, Edens Gardens Inc., Rocky Mountain Oils LLC, Neal’s Yards Remedies, Now Foods, Plant Therapy Inc., and others are the prominent players functioning in the global aromatherapy market. New product launches & developments, partnerships, agreements, and acquisitions are some of the growth strategies adopted by the players to sustain in the highly competitive market. For instance, in March 2018, Plant Therapy Essential Oils Inc. launched the Caraway Seed CO2, Cubeb 100, and Bergamot Mint essential oils, which enables the company to enhance its product portfolio as well as contribute to the market growth during the forecast period.
Current Market Trends Covered in the Market Report:
- A paradigm shift of the consumers towards natural and organic alternative treatment methods of disorders is likely to positively affect the aromatherapy market growth during the forecast period
- The topical segment will account for significant growth in the global aromatherapy industry
- The European region will register a significant growth rate in the market during the forecast period
- Novel product launches and the geographical expansion will be the key growth strategy adopted by the key players to sustain in the market.
Global Aromatherapy Market – Segmentation
By Product Type
- Consumables
- Equipment
By Application
- Relaxation
- Pain Management
- Skin & Hair Care
- Cold & Cough
- Others
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