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Aromatherapy Market Outlook - Trends, Sales and Key Manufacturer Analysis by 2024-2033
Aromatherapy
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the aromatherapy industry. This report on Aromatherapy market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The aromatherapy market size has grown rapidly in recent years. It will grow from $1.94 billion in 2023 to $2.14 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to increased preference for natural health remedies, emergence of e-commerce channels, regulatory support, influence of social media, expansion into emerging markets.
The aromatherapy market size is expected to see strong growth in the next few years. It will grow to $3.09 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to growing consumer awareness of the therapeutic benefits, increasing research and development efforts, rising demand for preventive care products, rising disposable income, rising urbanization. Major trends in the forecast period include digital aromatherapy, infused aromatherapy, aromatherapy for pets, personalized and customized products, holistic wellness.
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Key Market Players:
doTERRA International LLC, Young Living Essential Oils LC, Edens Garden LLC, Mountain Rose Inc., Plant Therapy Inc., Aromahead Institute Inc., Aromafloria Inc., Aromatherapy Associates Limited, Frontier Natural Products Co-op, Bath & Body Works LLC., Body Bliss LLC.
Market Drivers:
Rising stress, anxiety, and depression among people is driving the growth of the aromatherapy market. The COVID-19 pandemic has caused numerous changes in individual lives, including uncertainty, disrupted daily routines, financial strains, and social isolation, leading to increased tension, worry, and sadness. The individuals are looking out for ayurvedic and chemical free methods such as aromatherapy to reduce anxiety and depression. According to a scientific brief issued today by the World Health Organization (WHO) in March 2022, the global occurrence of anxiety and sadness soared by a staggering 25% in the first year of the COVID-19 pandemic. Therefore, the rising stress, anxiety, and depression among people is expected to boost demand for aromatherapy during forecast period.
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Market segments for Aromatherapy include:
1) By Product Type: Consumables, Equipment
2) By Delivery Outlook: Topical Application, Aerial Diffusion, Direct Inhalation
3) By Application: Relaxation, Skin & Hair Care, Pain Management, Cold & Cough, Insomnia, Scar Management, Other Applications
4) By End-Use: Home Use, Spa & Wellness Centers, Hospitals & Clinics, Yoga & Meditation Centers
5) By Distribution Channel: D2C, B2B
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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