Aromatherapy Industry Overview
The global aromatherapy market size was estimated at USD 1.6 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 11.6% from 2021 to 2028.
Rising awareness about therapeutic uses of essential oils coupled with a growing preference for natural products is likely to drive the market over the forecast period. Aromatherapy is considered as an alternative medicinal therapy that helps recover from various disorders, including pain, cardiovascular disorders, respiratory disorders, skin-related problems, cold and cough, digestion problems, immune system dysfunction, insomnia, anxiety, and wounds. Women are usually more concerned about acne scars, and people with acne-related problems often opt for therapeutic-grade essential oils.
Gather more insights about the market drivers, restrains and growth of the Global Aromatherapy Market
The U.S. dominated the market for aromatherapy in 2020. Rising awareness about the advantages of alternative therapies is expected to drive the market for aromatherapy in the U.S. over the coming years. Moreover, favorable laws and regulations for essential oil farming are likely to propel the market growth in the country over the forecast period.
The target audience in the market for aromatherapy is commonly women, but it is also growing significantly among the millennials. This group of population is responsible for the changing trends in healing therapies. People are increasingly opting for natural therapies instead of man-made drugs. As a result of the changing trends in healing therapies, key companies are also undertaking new initiatives and developing new products.
Major players have undertaken an increasing number of initiatives in order to expand their geographic presence. These strategic developments have been beneficial for the companies as well as countries wherein new production facilities and offices have been set up. Untapped growth opportunities in developing economies coupled with increasing investments by market players in these regions are anticipated to boost demand for aromatherapy products.
Rising stress, anxiety, and depression among people caused by the containment measures to curb the spread of the COVID-19 outbreak are expected to augment the demand for various stress relief and relaxation therapies. Furthermore, the application of aromatherapy to provide relief against cough and cold is expected to impact the market positively since the primary symptoms of COVID-19 include cough, cold, and fever.
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Market Share Insights
- September 2020: Stadler Form Aktiengesellschaft expanded its products offerings by launching Zoe, a glowing energy-efficient aroma diffuser that uses ultrasound technology to emit essential oils in the room.
Key Companies profiled:
New product developments and approvals are also a part of the key initiatives undertaken by key companies to gain stronger product penetration.
Some of the prominent players in the aromatherapy market include:
- dōTERRA
- Young Living Essential Oils
- Edens Garden
- Mountain Rose Herbs
- Plant Therapy Essential Oils
- Rocky Mountain Oils, LLC
- FLORIHANA
- Falcon
- Biolandes
- Stadler Form Aktiengesellschaft
- Hubmar International
- SpaRoom
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