Industry Report “Aromatherapy Market Research Report – Forecast to 2023” provides a clear picture of the Current Market Scenario which includes past and estimated future size with respect to value and volume, technological advancement, macro economical and governing factors in the market.
Global Aromatherapy Market – Synopsis
The Global Market is estimated to value at USD 4.3 Bn towards the end of 2023. The modernization of lifestyle has paved the way for different problems such as sleep disturbances, breathing disorders, etc. which has catalyzed the demand for aromatherapy across the world.
Market Research Future (MRFR)’s latest report predicts that the global aromatherapy market is set to strike a CAGR of 6.18 % during the forecast period 2017 to 2023.
Aromatherapy has long been recognized as an alternative treatment, being offered in therapeutic practices, including yoga studios & spas, massage centers, even in hospice settings and chiropractic facilities.
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Utilizing aromatic oils, and other aroma compounds this medicine practice is helpful in treating health conditions ranging from chronic stress, anxiety, and depression to insomnia and trouble sleeping and from muscle pain, respiratory infections skin problems or disorders, to blood sugar fluctuations, and even cancer.
The growing demand for essential oils used in aromatherapy is likely to catapult the market on an upward trajectory. On the flip side, the stringent regulations and side effects of oils are poised to hold the proliferation of the aromatherapy market in the foreseeable future.
Key players are more focusing on the expansion of Aromatherapy business across the globe which is contributing around 40% of strategy share. After expansion, key players are acquiring companies to strengthen their presence and to get an edge over increasing competition. R&D, partnership, and product launch contribute equally (~10%) in the strategic share of key players in Aromatherapy market.
Tree of Life
Neal’s Yard Remedies
Global Aromatherapy Market – Segmentation
By Products : Essential Oils (Citrus, Floral, Green/Vegetative, Spicy, and Herbaceous/Camphoraceous, Spices and others), Carrier oils & Blended oils, Equipment (Ultrasonic Diffuser, Nebulizer Diffuser, and Heat Diffuser, others), among others.
By Applications : Inhalation, Tropical, and Aerial Diffusion among others.
By Therapeutic Applications : Relaxation & Sleep, Pain Management, Skin & Hair Care, among other remedies.
By Regions : North America, Europe, APAC and Rest of the World.
Detailed Regional Analysis
The global aromatherapy market, by region, has been segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa. Americas is expected to lead the global market over the assessment period. The growth can be attributed to the widening range of product offerings made available by the key players.
Furthermore, the vast market presence of aromatherapy oils is another major factor benefitting the expansion of aromatherapy market in the region. The U.S. is predicted to dominate the regional aromatherapy market in the upcoming years owing to an upsurge in demand.
Europe is an extremely lucrative market placed at second position globally. The driving factors of the aromatherapy market in the region include increasing awareness about the medicinal benefits, rising import and export trade of aromatherapy oils, elevating standards of living, growing disposable income, etc.
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Asia Pacific is likely to become the fastest growing region of the global aromatherapy market by the end of the forecast period. The region is forecasted to be led by an upsurge in demand from China and India.
The Middle East & Africa is expected to witness steady growth during the projection period owing to the increase in demand for aromatherapy and essential oils in the Gulf nations particularly the U.A.E. and Saudi Arabia. However, the poor socio-economic conditions of African regions remain impediments to the market growth.
In November 2018, a renowned medical provider in the Greater Cincinnati region, St. Elizabeth Health Care, has announced the addition of aromatherapy to its line of maternity services.
In November 2018, The Gift of Scent LLC, an online e-commerce store, has been launched which offers a variety of fragrance products and various devices such as aromatic diffusers and ultrasonic diffusers.
In November 2018, Cubot, based in Shenzhen, China, has announced the launch of AD36 aromatherapy diffuser ahead of the winter season for tackling skin problems.
Some Points form Table of Content
1.2 Scope of Study
1.2.1 Research Objective
1.2.2 Assumptions & Limitations
1.3 Market Structure
2 Research Methodology
2.1 Research Process
2.2 Primary Research
2.3 Secondary Research
3 Market Dynamics
3.4 Macroeconomic Indicators
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