6.18% CAGR Forecasted For the Global Aromatherapy Market, States MRFR Report

Focus on personal wellness has prompted an unprecedented growth phase in the aromatherapy market globally. Market Research Future, a firm which specializes in market reports related to the Healthcare sector among others, published in its recent report on Global Aromatherapy Market Research Report- Global Forecast To 2023 that the aromatherapy segment is expected to reach $ 4.3 billion by the end of 2023, while growing at a projected CAGR of 6.18 % during 2017-2023.

Aromatherapy applications were earlier restricted to that of improving and adding to the aesthetic appeal of environments, but they are progressively being used in various sectors. Aromatherapy is being used excessively in alternate medicines to treat a wide spectrum of disorders. This trend has very successfully fuelled the demand trends for the aromatherapy market globally. Aromatherapy generates a major demand share from sectors of massage therapy, which is the primary source of demand for this sector. Aromatherapy is extremely beneficial to the treatment of insomnia and other sleep related problems, which has led to increased need of aromatherapy products for this particular aspect. Lack of proper guidelines and toxic nature of essential oil may create barriers to the growth of the aromatherapy market.

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Latest Industry News:     

May 2017 Neal’s Yard Remedies has acquired a 60J oil-fired boiler was supplied with the necessary ancillary items including hot-well, water softening, chemical dosing and blowdown vessels. The Fulton boiler is suited to the processes demanded from the company and was of a style and type that was ideal to be located in the company’s new plant room. The skid-mounted system has been designed to future-proof Neal’s Yard operation and allow for the addition of a second boiler, which will be used during maintenance and shutdown periods and to cope with increased demands in throughput.

Aug 2017 doTerra leadership broke ground recently on its new office building, as a part of a multi-phase corporate campus expansion project for the essential oils company. In addition to the new office building of doTerra’s headquarters, this third phase of growth will include the construction of a new medical clinic and an expansion of the company’s manufacturing facility. In addition, doTerra is also building a fulfillment center. These additions are expected to create 950 jobs in Utah over the next three years, and bring the company’s total office, manufacturing and fulfillment space to just under 1 million square feet. Additionally, as part of its expansion plans, doTerra will more than double the size of its current manufacturing facility, bringing its total square footage from nearly 125,000 square feet to almost 324,000 square feet. Any doTerra product distilled or sold throughout the world will come through this facility, lending more opportunities for research and development.

Sep 2017 Bath & Body Works, one of the world's leading specialty retailers and home to America's Favorite Fragrances, has introduced its all new, all good for you expanded Aromatherapy Collection with six exclusive blends of natural essential oils. Every product in the Aromatherapy Collection is centered on combining the perfect pairing of two essential oils, each with a unique purpose, to transform mind and enhance well-being.

Dec 2017 Kinin is a new portable aromatherapy vaporizer that offers a refreshing break from THC and nicotine based vapes. Multi-use products let you inhale the strange fragrances of “Narrow leaf eucalyptus,” “Polynesian kava kava,” and “nootropics.” The product is part of the new trend toward healthier vaping and is aimed at yoga lovers and other outdoorsy folks. The product contains nothing addictive and is essentially a way to gently puff on nicer stuff than tobacco. Created by a team in San Diego, the products costs $60 for three flavors and $22 for individual flavors.

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Global Aromatherapy Market - Competitive Analysis

With the entry of new industry players in the aromatherapy segment, a trend of solid, volume-driven growth has been observed in the market with the addition of new and advanced products. Companies are aiming to capture & solidify their share of the market segment, by competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.

The key players of the global aromatherapy market are Nu Skin, Air Aroma, Muji, Tree of Life, Young Living, Zija International, dōTERRA, NOW Foods, Neal’s Yard Remedies among others.

Global Aromatherapy Market – Segments

The global aromatherapy market is segmented on the basis of product and region.

On The Basis Of Product:  Essential Oils, Equipment, Application and Therapeutic Application.

The essential oils segment is further sub segmented into floral, citrus, green/vegetative, herbaceous/camphoraceous, spicy and others.

The equipment segment is sub segmented into nebulizer diffuser, ultrasonic diffuser and heat diffuser.

The application segment is sub segmented into tropical, inhalation and aerial diffusion.

The therapeutic application segment is sub segmented into relaxation and sleep, pain management, skin and hair care, and other remedies.

On The Basis Of Region: Asia Pacific, Europe, North America, Latin America and the Middle East & Africa.

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Global Aromatherapy Market - Regional Analysis

The regional analysis of global aromatherapy market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. US accounts for the maximum market share due to high per capita disposable income and greater expenditure on healthcare. Europe is the second largest market due to large disposable income and presence of large hospitals. The European market will be led by France followed by Germany. Asia pacific region will be the fastest region because of large unmet needs which will be led by China and India. The Middle East and Africa market will be led by the gulf nations particularly Saudi Arabia and UAE. The poor regions of Africa are expected to lag due to poor economic and political conditions.

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