Aromatherapy Market
The aromatherapy market is expected to grow significantly over the next 10 years, with the market size expected to reach US$7,048 million According to a recent market analysis, the aromatherapy industry is expected to expand at a CAGR of 2019 to 2025 by 2024. 6.4% From 2024 to 2034, the projected valuation is US$13,106,400,000 by the end of the forecast period.
The aromatherapy market is expected to witness significant advancements and diversification in its product offerings during the forecast period. Companies in the industry are focusing on research and development to introduce new and innovative products that cater to the evolving needs of consumers.
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Key Takeaways
- Many wellness professionals, including spa therapists, aromatherapists, massage therapists, and gym trainers, prefer to use essential oils, either alone or in blends, to treat conditions such as insomnia, anxiety, pain, agitation, and stress, as they provide the desired therapeutic benefits with little to no side effects, and because these treatments can be performed without the use of pharmaceutical drugs.
- One of the key factors driving the global growth of the aromatherapy industry is known to be the strong distribution network. Various essential oil manufacturers are negotiating distribution agreements with major retail companies to sell their products. This will increase the popularity of aromatherapy treatments and products.
- Aromatherapy has seen a surge in popularity in recent times due to its relaxing effects, which is expected to contribute to the growth of the aromatherapy market revenue. The development of inhaled aromatherapy for the treatment of sleep disorders such as insomnia is a major advancement for the market.
Competitive Environment
Major aromatherapy product manufacturers are adopting multi-level marketing strategies to enhance product distribution and are also considering hiring a large number of independent distributors. This is likely to increase the availability and affordability of aromatherapy products, stimulating the global demand for essential oils and aromatherapy diffuser products.
The extensive marketing network of distributors is expected to benefit both global and local market participants. In addition, companies are offering aromatherapy products online, which is projected to boost the aromatherapy market growth.
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Further Insights into the Aromatherapy Market
North America is expected to dominate the global aromatherapy market owing to the presence of significant market competitors in the region. The growth of this region is also attributed to factors such as surge in household essential oil sales, changing lifestyles, growing urban population, and increasing media influence that boost the demand for aromatherapy products in the region.
The aromatherapy market in Europe is expected to grow significantly during the forecast period. The growing popularity of aromatherapy as a therapeutic and pharmacological alternative is expected to drive the market expansion in Europe. Most of the essential oils are sold in European countries such as UK, Germany, Netherlands, Belgium, and Ireland.
Competitive Landscape of Aromatherapy Market:
The aromatherapy market is highly fragmented, with large players competing with local players in developed regions. Competition in the market is intensifying as players experiment to gain an advantage.
Market players are expanding geographically to boost market demand. Leading player doTERRA is taking steps to expand into developing countries.
Recent Trends in the Aromatherapy Market
- BASF has planned the expansion of its fragrance raw materials plants in Germany and China in March 2023. The new production facility in Ludwigshafen will be dedicated to the downstream production of menthol and linalool, while the facility in Zhanjiang will be dedicated to the citral plant.
- In October 2022, International Flavors & Fragrances Inc. opened an innovation centre in Singapore.
- In September 2022, Young Living was granted 17 patents from the U.S. Patent and Trademark Office relating to essential oil manufacturing.
- The WoodWick Candle Brand launched the WoodWick Radiance diffuser in April 2022. This diffuser is convenient for users as it is easy to refuel.
- In March 2022, Saje Natural Wellness, in collaboration with The Little Market, launched a limited edition diffuser called the Aroma Mosaic Diffuser.
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Key Players in the Aromatherapy Market:
- DoTERRA
- International Flavors & Fragrances
- Symrise
- Eden’s Garden
- Young Living Essential Oils
- Rocky Mountain Oil
- Mountain Rose Herb
- Plant Therapy Co., Ltd.
- Tan Oriza Co., Ltd.
- Isagenix International LLC
Key segments:
By product:
- Aromatherapy Consumables
- Essential oils
- Floral
- citrus
- Herbaceous
- hard
- Woody
- Earthy
- camphor
- others
- Blended Oil
- Carrier oil
- Essential oils
- Aromatherapy Equipment
- Nebulizing Diffuser
- Ultrasonic Diffuser
- Evaporative Diffuser
- Heat Diffuser
By application:
- relaxation
- insomnia
- Pain management
- Scar Management
- Skincare & Haircare
- Colds and coughs
- others
By shipping method:
- Topical application
- Direct inhalation
- Airborne diffusion
By distribution channel:
- Aromatherapy products sold in retail stores
- Aromatherapy products sold through online channels
- Direct sales of aromatherapy products
By region:
- North America
- latin america
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
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