MarketersMEDIA / Newsroom / Aromatherapy Market Can Expect 6.18% By 2023| Global Industry Dynamics, Trends, Opportunities, Drivers, Challenges and Influence Factors

Aromatherapy Market Can Expect 6.18% By 2023| Global Industry Dynamics, Trends, Opportunities, Drivers, Challenges and Influence Factors

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Global Aromatherapy Market Information, Equipment, By Therapeutic Application and Forecast to 2023

Aromatherapy is expected to reach $ 4.3 billion by the end of 2023, this market is projected to growing at a CAGR of ~ 6.18 % during 2017-2023.

Aromatherapy has been recognized as an alternative treatment since ages and it is being offered in many healing and therapeutic practices, including yoga studios & spas, massage centers, and even in hospice settings & chiropractic facilities. Using aromatic oils, and other aroma compounds this medical practice helps to heal several health conditions ranging from chronic stress, anxiety, depression, insomnia, trouble sleeping, and muscle pain to respiratory infections, skin problems or disorders, blood sugar fluctuations, and cancer even.

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Resultantly, the global aromatherapy market is growing pervasively, witnessing augmented uptake as an alternative medicine practice. Factors such as spreading awareness towards aromatherapy's advantages and easy accessibility to its products cumulatively drive the market growth. Moreover, the development of distribution channels is escalating the market on the global platform, availing various therapeutic-grade aromatherapy products and oils with the convenience of purchasing.

Rapid urbanization is further ushering lifestyle-borne disorders such as sleep disturbances, stress, etc. Improving economy, worldwide, on the other hand, is availing the best possible healthcare by enhancing the quality of life of people. The non-invasive nature of aromatherapy is a key factor fostering market growth exclusively.

On the other hand, factors that are obstructing the market growth include the stringent regulations towards the obligatory differentiation label on the product citing therapeutic grade or cosmetic grade products and the lack of expertise among the therapists. Also, the toxic nature of some of the essential oils like Cineole which is poisonous above the recommended dose and an overdose may cause some severe respiratory symptoms are restricting the market growth.

Also, the lack of solid medical evidence to prove that aromatherapy prevents or cures disorders and diseases mentioned above is impeding the growth of the market up to some extent.

Global Aromatherapy Market: Segmental Analysis

The global aromatherapy market has been segmented on the basis of product, application, and therapeutic application.

By mode of product, the global aromatherapy market has been segmented into essential oils and equipment. Among these, the essential oils segment is likely to gain prominence in the coming years owing to the increased awareness regarding the therapeutic value of these oils.

By mode of application, the global aromatherapy market has been segmented into inhalation, tropical, and aerial diffusion.

By mode of therapeutic application, the global aromatherapy market has been segmented into relaxation and sleep, skin and hair care, pain management, and other remedies. Among these, the relaxation & sleep segment is considered to gain prominence in the coming years owing to the surging number of people suffering from stress and anxiety along with the side effects associated with alternative medicines.

Global Aromatherapy Market - Regional Analysis

The North American region, heading with the extensive adoption in the treatment of various disorders, dominates the global aromatherapy market with the largest share. Moreover, factors such as the high per capita income and healthcare expenditures and the growing applications of aromatherapy in therapeutic applications as well as in cosmetics and personal care products are supporting the growth of the regional market. Canada and the US are major markets for aromatherapy in the region.

The aromatherapy market in the European region accounts for the second-largest market, globally. France, Italy, and Germany are the major market for aromatherapy products. Moreover, the increasing popularity of aromatherapy as therapeutics and pharmaceuticals is fostering the market growth in the region. Also, the rising disposable income and the presence of large facilities especially in France and Germany propel the growth of the regional market.

The Asia Pacific aromatherapy market is rapidly emerging as a profitable market, globally. The region is the largest producer of the essential oils, carrier oils, and blended oils which is undoubtedly impacting the market growth in the region, positively. Rapidly developing countries such as China and India have become the largest aromatherapy markets in the region due to the large unmet needs.

The aromatherapy market in the Middle East and African region led by some of the GCC countries such as Saudi Arabia and UAE will witness substantial growth over the forecast period. On the other hand, due to the poor economic and political conditions, the aromatherapy market in the African region will demonstrate a sluggish growth.

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Major Players:

Key players leading the global aromatherapy market include

Air Aroma
Nu Skin
Tree of Life
Zija International
Young Living
Neal’s Yard Remedies
and NOW Foods among others.

Intended Audience

Global aromatherapy providers, manufacturers & suppliers
Aromatherapy Product providers
Aromatherapy Device Manufacturers
Research and development (R&D) companies
Market research and consulting service providers
Academic institutes and universities

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Industry/innovation/Related News:

March 04, 2019 --– Subtle Energies (Australia), leading global aromatherapy, natural skin care, and wellness solutions brand announced that the hotel Peninsula Chicago has strengthened their long partnership by exclusively offering Subtle’s line of Ayurveda-informed techniques and treatments at The Peninsula Spa.

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Source: MarketersMedia

Release ID: 514711

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