Worldwide Essential oil & Aromatherapy Market Size, Share, Sales, Production, Market Penetration and Business Opportunity by Forecast to 2023

Market Overview:

Essential oil is a concentrated volatile aromatic oil derived from plants and animal sources. Aromatherapy is the use of essential oils and other aroma compounds for improving psychological or physical well-being.

Growing Awareness and Use as Complimentary Therapy Is the Prime Determinant of the Market

Aromatherapy is offered alongside standard treatment for a variety of diseases such as pain management in labor, anxiety, short-term memory, relaxation, hair loss, and eczema-induced itching, post-operative nausea and vomiting, behaviors management in dementia, and symptom relief in cancer.

Growing awareness and psychometric changes resulting in increasing popularity of aromatherapy to promote psychological well-being, relaxation therapy in psychological disorders and as a symptomatic treatment in ailments such as digestive problems, common cold, cough, burns, acne, and others. Growing Acceptance of Cosmetics Led By Skin Treatments Is a Prime Determinant of the Market. Rising adoption of cosmetics and unconventional alternative medicine has resulted in market growth.

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Increasing adoption of aromatherapy for skin treatments coupled with the rising income of women has a positive impact on its market. Essential oil & aromatherapy is being increasingly used for insomnia, menstrual problems, acne and others. Low side effects are seen as another driver of the market.

Lack of Scientific Validation, Concerns of Adverse Effects and Standardization May Hamper Market Growth

There is a lack of scientific evidence regarding the effectiveness and efficacy of aromatherapy and no medical evidence that it can prevent or cure any disease. Aromatherapy carries a risk of some adverse effects such as poisoning, skin sensitivity reactions, liver damage, and seizures. Thus, lack of evidence of its therapeutic benefit, and growing safety concerns has discredited the practice.

Lack of standards for essential oils and growing stringency of the Food Chemicals Codex (FCC) is another restraint on the market.

Top Key Players:

The prominent players profiled in the global Essential oil & Aromatherapy market are Young Living Essential Oils (U.S.), Mountain Rose Herbs (U.S.), G Baldwin & Co (U.K.), doTerra (U.S.), Ryohin Keikaku Co., Ltd. (Japan) Rocky Mountains Oil (U.S.), Thann (U.S.), and others.

Segments:

The global essential oil & aromatherapy market is segmented by product type, flavors, application, and regions so that the reader will have a better understanding of the market.

Based on the product type, the market is segmented into essential oils, blended oils, carrier oils and others. Essential oils account for the most significant share of the market due to their high value.

Based on the flavors, the market is segmented into fruits, spices, flowers, herbs, others. Fruits based flavors account for the most significant share of the market.

Based on the application, the market is segmented into food & beverages, medical, personal care (cosmetics, toiletries, fragrances, others), homecare, spa & wellness products, and others. Personal care segment accounts for the significant market share.

Based on regions, the market is segmented into North America, Europe, Asia Pacific, Middle East, and Africa.

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Regional Analysis:

North America accounts for the significant share of the global essential oil & aromatherapy market, followed by Europe. The U.S., France, Germany, U.K., and Netherlands are the major importers of essential oil & aromatherapy owing to demand for relaxation therapy and spa’s and wellness centers.

The developing regions of Asia Pacific, especially China and India are the major exporters of essential oil & aromatherapy. The Middle East and Africa is dominated by the Gulf economies of Saudi Arabia, UAE, Kuwait, and Qatar.

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This release was published on openPR.