Aromatherapy Market Overview
The MRFR report states that the global aromatherapy market is likely to record a healthy CAGR of over 6.18% to reach a size of over USD 4.3 billion during the forecast period. Aromatherapy refers to alternative therapy for the treatment of numerous diseases. Natural flowers, oil, and plants are used in this treatment. The professionals try to manage both physical and mental health with aromatherapy. The global aromatherapy market has witnessed massive growth in recent years.
The market’s growth is primarily being driven by the rapid growth in awareness regarding these alternate therapies. Furthermore, factors such as massive demand from most people, the need for aromatherapy diffusers, the high establishment of new aromatherapy clinics and products, and the increasing effectiveness of non-invasive treatment are also likely to catalyze the growth of the aromatherapy market over the forecasted era. On the other hand, stringent governmental rules are anticipated to restrict the aromatherapy market’s growth.
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Segment Analysis
The global aromatherapy market has been fragmented into several segments based on product, equipment, application, therapeutic application, and region.
The global aromatherapy market is split into essential oils and blended oils based on the product.
The global aromatherapy market is divided into nebulizer diffuser, ultrasonic diffuser, and heat diffusers based on equipment.
The aromatherapy market is fragmented into infusion, tropical, and aerial diffusion by application.
The aromatherapy market is split into pain management, relaxation and sleep, and skin & hair care by therapeutic application.
Regional Analysis
The global aromatherapy market is studied across five major regions, including the Middle East & Africa, South America, Europe, Asia-Pacific, and North America.
As per the MRFR reports, South America will likely dominate the global aromatherapy market during the forecasted era. The region will register a high growth rate over the review timeframe.
The North American region is another major market across the global aromatherapy market. The regional market’s growth is being driven by the growing cases of anxiety and depression across the region. Furthermore, the supportive governmental regulation and oil framing are also likely to catalyze the growth of the regional aromatherapy market.
The aromatherapy market for the Asia-Pacific region is projected to record rapid growth over the forecasted era. The regional market’s growth is being driven by the rise in income for health and wellness and the growing number of essential producers across the region.
Competitive Analysis
The global aromatherapy market has an intensely competitive landscape. The players in the market are adopting several new strategies such as partnerships, mergers, and acquisitions to strengthen their global market position. The players are making heavy investments to launch new products in the market. The leading players in the global aromatherapy market include DoTERRA, Now foods, Zija international, Now foods, Neal’s yard remedies, Young living, Muji, Air aroma, Nu skin, and several others.
Recent Developments
Mensa Brands, a Bengaluru-based e-commerce roll-up unicorn, has announced the acquisition of a majority stake in aromatherapy and personal care D2C startup Florona. Florida provides 70 types of natural oils that comprise cold-pressed carrier oils and essential oils for diffusers. In 2013, Aayush Gupta established the startup to create a footing in the global market by providing aromatherapy products. It is the 16th acquisition for Mensa in the past eight months.
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The Bay happily announced the reopening at Stackt Market with a curated wellness boutique to revive and jumpstart 2022. The show will pursue to use its QR technology for customers to See It, Scan It, Ship It- buying items on-site utilizing their mobile device and TheBay.com, then delivering the product right to customers’ delivery destinations. The Bay’s wellness boutique has over 50 hand-picked brands, including Marketplace sellers, to offer a holistic health and wellness experience.
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