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Aromatherapy Carrier Oil Market 2024 - Business Overview, Future Opportunities, Growth Analysis, Regional Demand And Forecast To 2033
Aromatherapy Carrier Oil Market
According to The Business Research Company's, The aromatherapy carrier oil market size has grown rapidly in recent years. It will grow from $1.17 billion in 2023 to $1.29 billion in 2024 at a compound annual growth rate (CAGR) of 10.6%. The growth in the historic period can be attributed to increase in natural goods, rise in disposable income, increased awareness of natural therapies.
The aromatherapy carrier oil market size is expected to see rapid growth in the next few years. It will grow to $1.95 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%. The growth in the forecast period can be attributed to growth in wellness industry, growth in spa, increase in awareness of health. Major trends in the forecast period include partnerships, investments, and product innovations.
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Market Drivers and Trends:
The growth in the wellness and personal care industry is expected to propel the growth of the aromatherapy carrier oil market going forward. The wellness and personal care industry encompasses a broad range of products and services aimed at promoting health, beauty, and overall well-being for individuals. The increasing wellness and personal care industry is due to shifting consumer attitudes towards health, beauty, and self-care, and rising levels of stress and mental health concerns. Aromatherapy carrier oils vary in viscosity, absorption rate, and therapeutic properties, allowing formulators to customize their products based on specific skin types or desired outcomes. It provide a natural and holistic approach to skincare and wellness, aligning with the preferences of consumers seeking clean and sustainable beauty options. For instance, in 2022, according to Cosmetics Europe, a UK-based personal care association, it is estimated that the cosmetics and personal care industry brings at least €29 billion in added value to the European economy annually. Furthermore, in December 2023, according to Ascential plc, a UK-based media company, health and beauty e-commerce sales are projected to grow by 77% between 2021 and 2026. Therefore, the growth in the wellness and personal care industry drives the aromatherapy carrier oil market.
Major companies operating in the aromatherapy carrier oil market are developing innovative products and customization such as essential oil blends designed to fulfill different consumer needs. Essential oil blends are combinations of pure essential oils that are carefully mixed to create a unique and harmonious aroma profile. These blends are created by blending different essential oils together to achieve specific therapeutic effects or to create a desired fragrance. For instance, in May 2023, Veda Tinda Scent, a US-based company that specializes in aromatherapy solutions, launched the Aromatherapy Oil Gift Set, featuring naturally scented essential oils along with a color-changing humidifier. The company prioritizes delivering premium-grade, pure essential oils sourced from plants and distilled to achieve purity levels exceeding 95%, all without the use of additional chemicals. This commitment ensures a safe and efficacious aromatherapy encounter for their clientele.
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Major Key Players of the Market:
Young Living Essential Oils, S H Kelkar & Company Limited, AOS Products Private Limited, Edens Garden, ConnOils LLC, AG Industries, Falcon Ingredients SA, Rocky Mountain Oils LLC, THANN, Plant Therapy, Esperis SpA, Vessel Essential Oils, Aethon International LLP, Kanta Group, JE International, Moksha Essentials, SVA Organicsis, Kush Aroma Exports, India Aroma Oils and Company, Majestic Pure, Viva Naturals Inc., Maple Holistics
Aromatherapy Carrier Oil Market 2024 Key Insights:
• The aromatherapy carrier oil market size is expected to see rapid growth in the next few years. It will grow to $1.95 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%.
• Aromatherapy Carrier Oils Amidst The Wellness And Personal Care Industry Boom
• Innovative Trends in Aromatherapy Carrier Oils Empowering Customization for Enhanced Customer Satisfaction
• North America was the largest region in the aromatherapy carrier oil market in 2023
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