The global aromatherapy market is estimated to be valued at US$ 6.39 Billion in 2023 and is expected to exhibit a CAGR of 8.2% during the forecast period (2023-2030).
Analyst’s Views on the Global Aromatherapy Market:
The aromatherapy market is a thriving wellness industry that involves the use of essential oils and aromatic compounds to promote physical and mental well-being. With a focus on holistic health, it has witnessed steady growth driven by consumer interest in natural remedies and stress relief. Aromatherapy products, such as essential oils, diffusers, and scented candles, have gained popularity. Increasing awareness of the therapeutic benefits of aromatherapy, coupled with the growing demand for relaxation and self-care, has propelled market expansion. Additionally, the trend toward sustainable and organic products has further contributed to the industry's success, making it a lucrative sector in the wellness market.
Figure 1. Global Aromatherapy Market Share (%), By Product Type, 2023
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Global Aromatherapy Market - Drivers
Global Aromatherapy Market - Opportunity
The rise of e-commerce platforms provides opportunities for the sale of aromatherapy products: Online retail and e-commerce provide businesses in the aromatherapy market with access to a global customer base. This is especially valuable for companies that might not have a physical presence in multiple locations. For instance, on September 15, 2023, Indesso, a renowned producer of essential oils and other natural ingredients for various sectors such as flavor and fragrance, pharmacy, and F&B, has proudly announced its latest initiative, the iSensoAroma E-Commerce Platform. The iSensoAroma E-Commerce Platform will enable smaller businesses to access the same quality of essential oils that have made Indesso a respected name in the industry. Clients can expect a user-friendly interface that facilitates browsing, selection, and purchasing processes.
Figure 2. Global Aromatherapy Market Share (%), By Region, 2023
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Global Aromatherapy Market - Regional Analysis
Among regions, North America is expected to hold a dominant position in the global aromatherapy market over the forecast period. The increasing number of product launches is expected to drive the North America aromatherapy market growth over the forecast period. For instance, in April 2022, Nowell Brands Inc., an American manufacturer, marketer and distributor of consumer and commercial products launched the WoodWick Radiance diffuser, which is a battery-operated diffuser that reflects the company's recognizable hourglass shape and offers customers a simple, no-water refill process.
Global Aromatherapy Market - Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020. According to WHO, as of September 13, 2023, there have been 770,563,467 confirmed cases of COVID-19, including 6,957,216 deaths, reported to WHO.
COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, the U.A.E., Egypt, and others, were facing problems with the transportation of goods from one place to another.
Furthermore, players operating in the global aromatherapy market are facing major challenges on various fronts due to the COVID-19 pandemic. The major challenges include the supply of raw materials required for manufacturing aromatherapy products due to irregularities in transportation. Moreover, distributors are experiencing irregular demand for products from the retailers due to an increase in the number of patients suffering from COVID-19 and other life threatening disorders.
Aromatherapy Market Report Coverage
Report Coverage | Details | ||
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Base Year: | 2022 | Market Size in 2023: | US$ 6.39 Bn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 to 2030 |
Forecast Period 2023 to 2030 CAGR: | 8.2% | 2030 Value Projection: | US$ 11.09 Bn |
Geographies covered: |
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Segments covered: |
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Companies covered: |
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 |
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Growth Drivers: |
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Restraints & Challenges: |
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Global Aromatherapy Market Segmentation:
The global aromatherapy market report is segmented into product type, application, mode of delivery, and region.
Global Aromatherapy Market - Cross Sectional Analysis:
The key players are making aromatherapy with advanced technologies in emerging economies, which is also expected to boost the demand for the aromatherapy market in the North America region. For instance, in May 2021, Zynex Inc., a company that manufactures and markets medical devices, launched NeuroMove which is U.S. Food and Drug Administration (FDA) cleared for stroke rehabilitation, and its use has dramatically ameliorated functional impairments in stroke survivors in many clinical studies and in the clinical practices.
Global Aromatherapy Market: Key Developments
Global Aromatherapy Market: Key Trends
Global Aromatherapy Market: Restraint
Global Aromatherapy Market - Key Players
The major players operating in the global aromatherapy market include 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.
Global Aromatherapy Market -Definition: Aromatherapy is an alternative medicine treatment that is effective for treating pain, nausea, overall wellbeing, anxiety, sadness, stress, and sleeplessness. It can be used in an inpatient or outpatient setting. Preoperative anxiety, oncology, palliative care, hospice, and end-of-life care are all helped by it. Essential oils are potentially harmful and hazardous. Some of them are combustible, cause skin dermatitis, are phototoxic and can result in chemical burns, are toxic to the mouth, or can even be fatal.
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About Author
Ghanshyam Shrivastava - With over 20 years of experience in the management consulting and research, Ghanshyam Shrivastava serves as a Principal Consultant, bringing extensive expertise in biologics and biosimilars. His primary expertise lies in areas such as market entry and expansion strategy, competitive intelligence, and strategic transformation across diversified portfolio of various drugs used for different therapeutic category and APIs. He excels at identifying key challenges faced by clients and providing robust solutions to enhance their strategic decision-making capabilities. His comprehensive understanding of the market ensures valuable contributions to research reports and business decisions.
Ghanshyam is a sought-after speaker at industry conferences and contributes to various publications on pharma industry.
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