Aromatherapy Products Market Size Expected to Reach $5.3 Billion by 2031 At a CAGR 9%

According to a new report published by Allied Market Research, titled, "Aromatherapy Products Market," The aromatherapy products market was valued at $2.3 billion in 2021, and is estimated to reach $5.3 billion by 2031, growing at a CAGR of 9% from 2022 to 2031.

Rising awareness about the therapeutic uses of essential oils, rise in cases of mental illness and various disorders which can be controlled by aromatherapy products, including pain, cardiovascular disorders, respiratory disorders, skin-related problems, insomnia and anxiety are likely to support the growth of the aromatherapy products market during the forecast period.

Aromatherapy is the technique of using essential oils (EOs) and other fragrant molecules from plants to influence someone's mood or health. It is frequently linked to complementary and alternative medicine (CAM). René Maurice Gattefossé, a French chemist, first used the aromatherapy term in the 1920s.

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The aromatherapy products market in the medical sector has a lot of potential. Presently, the market revenue generated through relaxation and sleep, pain management, and skin and hair care segments are notably high and are expected grow at significant rate during the forecast period. This is majorly attributed to growing health concerns, rise in awareness regarding the therapeutic treatments and growing disposable income especially in the developing regions.

However, peppermint, lime, and lemon essential oils earned a sizable income in 2020 and are anticipated to gain sizable market share during the forecast period. At the moment, orange and cornmint oils dominate the market for essential oils. In addition, regulations imposed by the Consumer Product Safety Commission on air fresheners and scented candles, as well as limitation about the use of essential oils to special conditioned people are anticipated to restrain the growth of the global aromatherapy products market during the forecast period. People with asthma should not use essential oils unless doctor instructs.

Aromatherapy is frequently used as medicine in France, Germany, UK, Austria, and Switzerland, where there is a particularly robust market for it. Although it is still unusual, there is an increase in the number of licensed practitioners in UK. Aromatherapy is mostly utilized for holistic or aesthetic purposes and is marketed as cosmetics in the majority of other West European countries.

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Key Take Away :

The medical and Holistic segments are expected to witness considerable CAGRs of 11.1% and 8.5%, respectively, during the forecast period.

Essential Oils segment holds the major share of 68.2% in 2021 and is expected grow at significant CAGR of 8.7% during the forecast period.

The skin and hair care segment was the significant revenue contributor to the market and is expected grow at highest CAGR of 10.7% during the forecast period.

Direct Distribution segment was highest revenue contributor to the market and and E-commerce segment is expected grow at highest CAGR of 12.4% during the forecast period.

North America and Europe collectively accounted for around 74.7% share in 2021, with the former constituting around 39.9% share.

According to application, the pain management segment is estimated to reach $1,539.6 million by 2031, growing at a CAGR of 9.6% during the forecast
period. Patients are turning to alternative treatments like aromatherapy items owing to ineffectiveness of oral painkillers. Many people are dependent on painkillers, although they frequently have negative side effects and are ineffective sometimes. In addition, one of the factors driving up demand for aromatherapy products is lack of preference for surgeries for the pain management.

According to distribution channel, the e-commerce segment was the significant contributor to the market, with $86.7 million in 2020 and is growing at a CAGR of 12.4% during the forecast period. Easy accessibility offered by online sales channel boosts its adoption in the aromatherapy products market. E-commerce has becoming a considerably popular medium for purchase of aromatherapy products. Easy availability of information about product specifications, time-saving feature, and facility of home delivery contributes to the growth of online sales.

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According to the aromatherapy products market opportunities, region-wise, Asia-Pacific garnered the considerable aromatherapy products market share in 2020, and is expected to maintain its market share during the forecast period. This is majorly attributed to growing disposable income, which promotes them to spend money on their health and well-being. In addition to this, the country's healthcare spending is rising as well, which is pushing the regional domain.

The players operating in the global aromatherapy products industry have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include dōTERRA, Edens Garden, Young Living Essential Oils, LC, Rocky Mountain Oils, Plant Therapy Essential Oils, FLORIHANA, Biolandes, Falcon Essential Oils, Stadler Form, Hubmar International, SpaRoom, Mountain Rose Herbs, Air Aroma, Nu Skin, and H.Reynaude & Fils.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

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