Global Aromatherapy Market, by Product Type (Consumables (Essential Oils (Singles (Herbaceous, Woody, Spicy, Floral, Citrus, Earthy, Camphoraceous, and Others), Blends (Carrier Oils)) and Equipment (Ultrasonic, Nebulizing, Evaporative, and Heat)), by Application (Skin & Hair Care, Pain Management, Insomnia, Boosting Immunity, Scar Management, and Others), by Mode of Delivery (Topical Application, Direct Inhalation, and Aerial Diffusion), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), 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), as highlighted in a new report published by Coherent Market Insights.
Aromatherapy clinics and spa centers are focusing on expanding their target market, which is expected to propel the growth of the global aromatherapy market over the forecast period. Increasing health consciousness and the rising need for relaxation techniques have led spa centers and aromatherapy clinics to widen their sales by focusing on high growth markets. For instance, Four Fountain Spa, largest chain of affordable health spas in India, uses aromatherapy products such as essential oils for detoxification, anxiety relief, immunity booster, and others.
Global Aromatherapy Market - Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others, faced problems with regard to the transportation of goods from one place to another.
The key 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 product due to irregularities in transportation facility. Moreover products distributors are experiencing irregular demand for products from the retailers due to increasing number of patients suffering from COVID-19 and other life threatening disorders. Essential oils have anti-inflammatory, immunomodulatory, bronchodilatory, and antiviral properties against SARC-CoV-2 virus, owing to their lipophilic nature. They are supported to penetrate viruses easily leading to membrane disruption. Moreover, essential oils contain multiple active phytochemicals that can act on multiple stages of viral replication and also induce positive effects on the host respiratory system including bronchodilation and mucolysis.
Global Aromatherapy Market: Key Developments
In September 2022, MANE KANCOR, a natural ingredients manufacturer inaugurated an innovation center located in Angamaly, India. This facility was established with a primary focus on research and development in various areas including natural shelf-life solutions, natural colors, culinary taste, personal care ingredients, and nutraceutical products. This initiative underscored the need to advance research and innovation within these sectors.
In July 2022, Sensient, a leading global manufacturer and marketer of colors, flavors, and other specialty ingredients completed the acquisition of Flavor Solutions, Inc., a U.S.-based company. This strategic acquisition served to broaden Sensient's flavor portfolio by incorporating elements such as savory reaction flavors, natural shelf-life extenders, sweetness-enhancing products, and salt reduction taste-modulation technology platforms. This move further solidified Sensient's position within the flavor industry, enhancing its capabilities and offerings in response to evolving market demands.
Browse 39 Market Data Tables and 34 Figures spread through 222 Pages and in-depth TOC on “Global Aromatherapy Market” - Forecast to 2030, Global Aromatherapy Market, by Product Type (Consumables (Essential Oils (Singles (Herbaceous, Woody, Spicy, Floral, Citrus, Earthy, Camphoraceous, and Others), Blends, and Carrier Oils)) and Equipment (Ultrasonic, Nebulizing, Evaporative, and Heat)), by Application (Skin & Hair Care, Pain Management, Insomnia, Boosting Immunity, Scar Management, and Others), by Mode of Delivery (Topical Application, Direct Inhalation, and Aerial Diffusion), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/aromatherapy-market-2517
Key Takeaways of the Global Aromatherapy Market:
- The global aromatherapy market is expected to exhibit a CAGR of 8.2% during the forecast period due to the increasing prevalence of anxiety, which is expected to boost the aromatherapy market growth. Aromatherapy stimulates the smell receptors in the nose, which sends signals to the nervous system. They are also thought to have a subtle effect on the body’s chemical and energy systems. Because of this, aromatherapy is often used as a natural remedy to relieve anxiety and stress. For instance, according to the National Institute of Mental Health (NIMH), around 31.9% of adolescents had any anxiety disorder in the U.S. in 2019.
- On the basis of mode of delivery, the topical application segment accounted for the largest market share in the global aromatherapy market in 2022. Essential oils are mostly applied topically on the skin using a variety of techniques by diluting it in the carrier oil. Topical application is unique because it allows the user to target specific areas of the body to achieve a desired effect of aromatherapy. Thus, advantages offered by topical application over other is expected to drive the segment growth in the global aromatherapy market over the forecast period.
- 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 are expected to drive the North America aromatherapy market growth over the forecast period. For instance, in April 2018 Plant Therapy, a leading direct-to-consumer supplier of essential oils, announced that it launched an exclusive and limited edition of Mother's Day set, Dear Mom set. This set includes various products including Forever Mom Body Oil, 6 oz. Detoxifying Bath Salts, 10 mL Forever Mom Synergy and other that complete the need of mothers for relaxing and unwinding.
- 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.
