The market for aromatherapy in topical application is expected to witness fastest growth at a CAGR of 9.8% during the forecast period.
growth of the aromatherapy market. In 2017, the market attained a size of around $1.2 billion, and it is predicted to register a CAGR of 9.4% during the forecast period (2018–2025). Aromatherapy is an alternative medicine, which uses naturally extracted aromatic essential oils to balance, harmonize, and promote the mental and physical health of patients suffering from chronic diseases and skin problems.— Increasing incidents of lifestyle disorders, continual shift toward natural products, and growing awareness about the therapeutic use of essential oils are some of the key factors driving the
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Aromatherapy has a wide range of applications, such as pain management, skin and hair care, cold and cough, scar management, and insomnia. Out of these, during the historical period (2014–2017), it was used the most for relaxation purposes, which registered a 22.4% revenue share in the aromatherapy market in 2017. This category is also predicted to lead the market during the forecast period. Its leading position is due to the surge in the number of people suffering from stress and anxiety, and the side effects of other alternative medicines.
Due to the numerous benefits of essential oils, these are trending as a natural solution for treating several health conditions, thereby helping the aromatherapy market grow. Also, the demand for these oils for at-home use is increasing, as visiting a beauty clinic or spa is more expensive than buying essential oils. Aromatherapy aids in decreasing the therapy cost, as it has common application processes such as inhalation and topical. Rising consumer concern for privacy has escalated their preference toward the use of these oils in homes. Essential oils derived from lavender, peppermint, and ginger are mostly used at home for sleep and relaxation, and cold and flu relief.
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Essential oils are obtained from plants and processed naturally, because of which these are nontoxic and safe for topical use and inhalation. The beneficial nature along with the growing awareness on the therapeutic use of these oils has been encouraging customers to adopt them. In recent years, there has been a heavy use of these oils for self-medication to deal with common cold and pain. The side effects of pharmaceutical therapeutics are another among the several reasons behind the adoption of these natural oils by people.
Thus, the various advantages offered by natural products in the treatment health issues has shifted the preference from synthetic to natural products, contributing to the growth of the aromatherapy market.
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