The global aromatherapy market is growing at a Compound Annual Growth Rate (CAGR) of 6.4% from 2024 to 2034, which is a sign of optimism. From an estimated USD 7,048.0 million in 2024 to a projected USD 13,106.40 million by 2034, which corresponds to a huge market value jump.
The numerous health benefits linked to aromatherapy are the reason for this increase. Future Market Insights’ historical study shows that the market has grown significantly, with a compound annual growth rate (CAGR) of 6.5% from 2016 to 2021.
The Covid-19 pandemic was a significant influence influencing customer choice in aromatherapy. The growing body of research demonstrating the many advantages of aromatherapy and topical essential oil therapies for pain management in conditions such as dysmenorrhea is expected to propel the market’s expansion in the next years. The rapid development of hospital-based aromatherapy programs in developed nations is another important factor anticipated to drive the growth of the aromatherapy market.
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Key Takeaways
- Several wellness professionals including spa therapists, aroma therapists, massage therapists, and gym trainers, prefer single and blended essential oils for the treatment of insomnia, anxiety, pain, agitation, stress, and other conditions because essential oils provide the desired therapeutic effects with minimal or no side effects. This is due to the fact that these treatments may be conducted without the use of medicines.
- One of the crucial driving factors propelling the growth of the global aromatherapy industry is known to be its strong distribution network. Various essential oil markers are working on negotiating distribution arrangements with large retail corporations to make their goods available, which will result in greater penetration of aromatherapy treatments and products.
- Aromatherapies are rapidly being preferred these days attributing their properties for relaxation is likely to contribute to the aromatherapy market’s revenue development. The development of inhalation aromatherapy for the treatment of sleep issues such as insomnia is significant market advancement.
Competitive Landscape
Dominant aromatherapy product manufacturers are employing multi-level marketing tactics in order to enhance product distribution and they are also considering hiring a large number of independent distributors. This has resulted in increased accessibility and affordability of aromatherapy goods are likely to stimulate global demand for essential oils and aromatherapy diffuser products.
An extensive marketing network of distributors is expected to benefit both global and local market participants. In addition to that, firms are providing their aromatherapy goods online, which are projected to assist the aromatherapy market’s growth.
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More Insights into the Aromatherapy Market
North America is expected to dominate the global aromatherapy market owing to the presence of crucial market competitors in the region. The growth in the region is also attributed to the surging sales of crucial oil for home use, lifestyle changes, a growing urban population, and the increased influence of the media are all factors boosting demand for aromatherapy goods in the region.
The aromatherapy market in Europe is expected to rise significantly over the forecast period. The rising popularity of aromatherapy as a therapeutic and pharmacological alternative is expected to drive market expansion in Europe. The majority of essential oils are sold in European nations including the United Kingdom, Germany, the Netherlands, Belgium, and Ireland.
Competitive Landscape in the Aromatherapy Market:
The aromatherapy market is heavily fragmented, with established companies tussling with local players in well-developed regions. The competition in the market is increasing with the experimentation done by market players to achieve dominance.
Market players are expanding geographically to increase market demand. Prominent player doTERRA is taking steps to expand into underdeveloped nations.
Recent Developments in the Aromatherapy Market
- In March 2023, BASF planned expansion of its aroma ingredients facilities in Germany and China. The new manufacturing facility in Ludwigshafen will be concentrated on menthol and linalool downstream plants while the one in Zhanjiang was penned in for the citral plant.
- In October 2022, International Flavors & Fragrances Inc. opened its innovation center in Singapore.
- In September 2022, Young Living was the recipient of 17 essential oil production patents from the United States Patent and Trademark Office.
- In April 2022, the WoodWick Radiance diffuser was launched by The WoodWick Candle Brand. The diffuser affords convenience to users because of its easy refueling process.
- In March 2022, Saje Natural Wellness, in collaboration with The Little Market, unveiled a limited-edition diffuser called the Aroma Mosaic diffuser.
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Key Companies in the Aromatherapy Market:
- doTERRA
- International Flavors & Fragrances Inc.
- Symrise
- Edens Garden
- Young Living Essential Oils
- Rocky Mountain Oil
- Mountain Rose Herbs
- Plant Therapy Inc.
- Thann-Oryza Co. Ltd.
- Isagenix International LLC
Key Segments:
By Product:
- Aromatherapy Consumables
- Essential Oils
- Floral
- Citrus
- Herbaceous
- Spicy
- Woodsy
- Earthy
- Camphorous
- Others
- Blended Oils
- Carrier Oils
- Essential Oils
- Aromatherapy Equipment
- Nebulizing Diffusers
- Ultrasonic Diffusers
- Evaporative Diffusers
- Heat Diffusers
By Application:
- Relaxation
- Insomnia
- Pain Management
- Scar Management
- Skin & Hair Care
- Cold & Cough
- Others
By Mode of Delivery:
- Topical Application
- Direct Inhalation
- Aerial Diffusion
By Distribution Channels:
- Aromatherapy Products Sold at Retail Shops
- Aromatherapy Products Sold through Online Channels
- Direct Distribution of Aromatherapy Products
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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