Newark, Aug. 14, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the aromatherapy market will grow to USD 2.52 billion in 2022 and reach USD 8.57 billion by 2032. In just ten years, the growing awareness among the population about the benefits of aromatherapy in treating disease at low costs is propelling market growth. Moreover, the increasing spa and wellness industry, increased frequency of chronic illnesses, and growing awareness about alternative treatments' advantages are expected to propel the market growth over the forecast period.
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Key Insight of the Aromatherapy Market
North America to account for the largest market size during the forecast period.
North America is expected to have the largest market share in aromatherapy. Key factors favouring the growth of the aromatherapy market in North America include the rising prevalence of disorders and ailments like wounds, cardiovascular diseases, pain, musculoskeletal ailments, and respiratory diseases. Further, the increased incidence of skin problems raised disposable income, and the increase in R&D initiatives is also helping to boost the market growth in this region.
The topical application segment is expected to augment the aromatherapy market during the forecast period.
The mode of delivery segment is divided into aerial diffusion, direct inhalation, and topical application. The topical application segment held the largest market share in 2022 and is expected to continue during the forecast period owing to the increasing prevalence of various ailments.
The consumables segment market size was USD 1.46 billion in 2022
The product type segment is divided into equipment and consumables. The equipment segment is further subdivided into nebulizing, ultrasonic, evaporative, and heat. The consumables segment is further subdivided into essential oils and carrier oils. The essential oils segment is further subdivided into singles and blends. The singles segment is further subdivided into woody, herbaceous, floral, spicy, earthy, camphoraceous, citrus, and others. The consumables segment market size was USD 1.46 billion in 2022 due to the broad application of essential oils ranging from treating insomnia, stress to cardiovascular pains by inhalation of scents of these essential oils.
The B2B segment is anticipated to dominate the market by 65.12% in 2032.
The distribution channel segment is divided into B2B and direct-to-customer. The B2B segment is anticipated to dominate the market in the forthcoming years due to manufacturers' increasing impact on developing the B2B approach and easy & cost-effective transaction methodology.
The relaxation segment market size was USD 0.58 billion in 2022
The application segment is divided into skin and hair care, relaxation, pain management, insomnia, cold and cough, and scar management. The relaxation segment is anticipated to dominate the market in the forthcoming years due to the rising preference for natural therapies for treating depression, stress, and anxiety in case of using toxic medications.
The yoga & meditation centers segment is anticipated to dominate the market by 43.07% in 2032.
The end-user segment is divided into hospitals and clinics, home use, spa and wellness centers, and yoga & meditation centers. The yoga & meditation centers segment is anticipated to dominate the market in the forthcoming years due to the increasing healthcare expenditure and escalation in technologies and innovation.
Advancement in market
For example, in 2022, Saje Natural well being produced a constrained-edition Aroma Mosaic diffuser in March in collaboration with The Little Marketplace, a non-income truthful-alternate store promoting ethically sourced, artisan-made products. It has a complicated engraved hexagon-dash layout stimulated by means of the artisan network of The Little Marketplace.
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Market Dynamics
Driver: The increasing wellness tourism:
The rise of e-commerce has made aromatherapy products easily accessible to customers worldwide. Online platforms deliver a convenient way to buy diffusers, essential oils, and other aromatherapy products, further propelling the market growth. Additionally, the strong distribution network of these essential oils manufacturers and the ease of availability to customers via hypermarkets/supermarkets are also helping to propel the market growth. Moreover, the growing emphasis on mental health awareness and the requirement for stress management techniques are also helping to boost the market growth over the forecast period.
Restraint: The lack of awareness and misconceptions about aromatherapy:
The lack of awareness & misconceptions about aromatherapy is hindering the market growth. Further, raising public awareness about alternate treatments and stringent government regulations about aromatherapy and essential oils also restrain the market growth. Moreover, the strict policies & stringent regulations, like indications that a producer requires to mention the type of each essential oil, are also hampering the market growth in the forthcoming year.
Opportunity: The increasing acceptance of aromatherapy:
The development of essential oils has been positively affected by the rising acceptance of aromatherapy & other natural remedies, containing massage for pain relief. Moreover, the increasing importance of psychological health amidst the competitive and stressful environment drives the market growth in the forecast period. However, the higher purchasing power and rising spa revenue worldwide are also helping to boost the market growth over the forecast period.
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Some of the major players operating in the aromatherapy market are:
• Young Living Essential Oils
• dōTERRA
• Rocky Mountain Oils, LLC
• Plant Therapy Essential Oils
• Mountain Rose Herbs
• EO Product
• FLORIHANA
• Stadler Form Aktiengesellschaft
• Edens Garden
• Hubmar International
• SpaRoom
• Ryohin Keikaku Co., Ltd
• Falcon
• Biolandes
• NOW Foods
Key Segments cover in the market:
By Mode of Delivery:
• Aerial Diffusion
• Direct Inhalation
• Topical Application
By Product Type:
• Equipment
Nebulizing
Ultrasonic
Evaporative
Heat
• Consumables
Essential Oils
Singles
• Woody
• Herbaceous
• Floral
• Spicy
• Earthy
• Camphoraceous
• Citrus
• Others
Blends
Carrier Oils
By Distribution Channel:
• B2B
• Direct-To-Customer
By Application:
• Skin and Hair Care
• Relaxation
• Pain Management
• Insomnia
• Cold and Cough
• Scar Management
By End User:
• Hospitals and Clinics
• Home Use
• Spa and Wellness Centers
• Yoga & Meditation Centers
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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