PUBLISHER: Allied Market Research | PRODUCT CODE: 1140223
PUBLISHER: Allied Market Research | PRODUCT CODE: 1140223
The global aromatherapy products market size was valued at $2,345.1 million in 2020 and is estimated to reach $5,328.3 million by 2031, registering a CAGR of 9.0% from 2022 to 2031.
In the past 10 years, there has been a tremendous increase in the number of businesses selling aromatherapy products, notably the large multi-level marketing businesses. Aromatherapy is a type of complementary medicine that is used to treat a variety of ailments. Aromatherapy is a holistic treatment method, which utilizes pure plant extracts that supports health and wellbeing. It is frequently referred as "essential oil treatment" because essential oils are important components of the practice. Inpatient or outpatient symptom therapy for pain, nausea, overall wellbeing, anxiety, depression, stress, and sleeplessness may benefit from clinical aromatherapy, an alternative medicine therapy. Preoperative anxiety, oncology, palliative care, hospice, and end-of-life care are all helped by it. In comparison to traditional treatment, consumers view natural health solutions like aromatherapy as it is gentler, convenient and safer choices for pain relief therapy. Particularly with regard to potent medications taken for extended periods of time, consumers are becoming more aware of the potential adverse effects of traditional treatment. Aromatherapy is not capable of curing arthritis, but research shows that it can have a powerful impact on patient's well-being, including the level of pain.
Aromatherapy is frequently used by people who have skin rashes, since it can nourish the skin and lessen inflammation. People do not always favor synthetic items because of their negative side effects. People choose essential and carrier oils as a result for a variety of skin conditions. Numerous skin and hair disorders can be helped by the antifungal, antibacterial, and antiseptic characteristics of these oils.
Even though the novel coronavirus pandemic had a devastating impact on a number of industries, the aromatherapy products market grew favorably during this time. Due to its anti-infective, antioxidant, and antimicrobial properties, essential oils are used to treat a variety of medical conditions, such as immune system disorders, depression, and sleep disorders.
The aromatherapy products market is segmented into form, product, application, distribution channel, and region. On the basis of form, the market is categorized into holistic, medical, and others. By product, it is segregated into essential oils and blend oils. On the basis of application, the market is categorized into relaxation and sleep, pain management, skin and hair care, and others. By distribution channel, it is segregated into direct distribution, MLM distribution, supermarket/hypermarket, pharmaceutical and specialty stores, e-commerce, and others. On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain and Rest of Europe), Asia-Pacific (China, Japan, India, Indonesia, Malaysia, South Korea, Singapore, Australia and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Turkey, UAE and Rest of LAMEA).
Region-wise, Asia-Pacific has gained considerable share in aromatherapy products and is expected grow at the highest CAGR during the forecast period. This is majorly attributed to growing per capita income, rise in expenditure on healthcare, and awareness regarding the benefits of the aromatherapy products, including essential oil. Furthermore, growing export of the essential oil to developed countries, including the U.S., UK, and Germany are further likely to supplement the growth of the market during the forecast period. For instance, according to The Observatory of Economic Complexity (OEC), China was the fourth-largest exporter of essential oils globally in 2020 with a total export value of $403M. In the same year, essential oils ranked as China's 555th most exported good. The U.S. ($86.3M), Indonesia ($51.9M), India ($32.4M), UK ($28.1M), and Germany ($24.5M) are China's top export markets for essential oils.
The major players operating in the market are doTERRA, Edens Garden, Young Living Essential Oils, LC, Rocky Mountain Oils, Plant Therapy Essential Oils, FLORIHANA, Biolandes, Falcon Essential Oils, Stadler Form, Hubmar International, SpaRoom, Mountain Rose Herbs, Air Aroma, Nu Skin, and H.Reynaude & Fils.
Key Benefits For Stakeholders
Key Market Segments
By Product
By Application
By Form
By Distribution Channel
By Region