The aromatherapy market comprises essential oils obtained from different plants and used for relaxation, meditation, mental clarity and reducing stress and anxiety. Aromatherapy products like essential oils, aroma burners, diffusers and candles impart various health benefits through the aroma sense. Essential oils derived from eucalyptus, lavender, bergamot, peppermint and rosemary are used for respiratory conditions, pain relief, stress relief, relaxation and skin issues. Growing awareness about the side effects of allopathic treatments and benefits of aromatherapy have fueled adoption.
The Global aromatherapy Market is estimated to be valued at US$ 6.39 Bn in 2024 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030.
Key Takeaways
Key players operating in the aromatherapy are 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. The major players are investing in research and development to develop newer essential oils and formulations.
Growing awareness about benefits of aromatherapy for health and well-being has been fueling the demand. Consumer preference for natural treatment methods over allopathic drugs is a major driver for essential oils adoption. Furthermore, increased stress levels and lifestyle changes have augmented the use of aromatherapy products for relaxation and improving mood.
Technological advancements like improved aroma diffusers with misting or heating functions have made aromatherapy more accessible and convenient. Development of smaller portable essential oil containers and smart aroma diffusers controlled via apps have boosted the aromatherapy market.
Market Trends
Environment concern - Growing demand for natural products extracted through eco-friendly processes is driving the aromatherapy market. Manufacturers are producing essential oils through sustainable cultivation and extraction techniques.
Personalization - Leading players are offering customized essential oil blends prepared as per consumer needs like desired outcomes, lifestyle and preferences which is a major trend.
Market Opportunities
Rising geriatric population susceptible to chronic diseases will fuel the adoption of aromatherapy as complementary treatment.
Integration of aromatherapy with stem cell therapy, acupuncture and physiotherapy provides new opportunities. Partnerships of aromatherapy companies with wellness clinics can leverage this.
Impact of COVID-19 on Aromatherapy Market Growth
The COVID-19 pandemic has positively impacted the growth of the global aromatherapy market. During the pandemic, there has been an increased demand for essential oils and aromatherapy products as people sought ways to boost their immunity and reduce stress and anxiety caused due to lockdowns and economic uncertainties. The sales of products containing antimicrobial essential oils like tea tree oil and eucalyptus oil witnessed significant growth. The pre-COVID market was growing at a steady pace due to the rising awareness about the health benefits of aromatherapy. However, the pandemic accelerated the market growth. Many new customers tried aromatherapy for the first time during this period and recognized its therapeutic properties. It is expected that even in the post-COVID world, the demand will remain high as preventive healthcare gains more importance. Companies will need to focus on manufacturing high-quality, safe and effective products to fulfill the increasing demand and leverage this opportunity for long-term growth.
In terms of value, Europe holds the largest share in the aromatherapy market currently. The region has a long tradition of using essential oils for various therapeutic purposes. Countries like France, Germany and the United Kingdom have seen widespread adoption of aromatherapy. There is a strong base of aromatherapy product manufacturers and a favorable regulatory environment supporting research and development. However, North America is poised to be the fastest growing region during the forecast period. Factors such as evolving consumer preferences towards natural remedies, growing wellness industry and rapid penetration of essential oils in daily lifestyle products will continue to drive the market expansion. The United States, in particular, presents lucrative opportunities for marketers as people actively look for solutions to enhance their quality of life. Rising disposable incomes also encourage greater openness to spend on holistic healing options like aromatherapy.
