Aromatherapy Market Size to Worth Around USD 5.62 BN by 2030

Ottawa, Dec. 01, 2022 (GLOBE NEWSWIRE) -- The Asia Pacific aromatherapy market is poised to reach at a CAGR of 13.6% over the forecast period 2022 to 2030. The demand for the aromatherapy market is expected to rise owing to the rising prevalence of various diseases and ailments such as pain, wounds, cardiovascular diseases, musculoskeletal ailments, and respiratory diseases. Moreover, the essential oils used in aromatherapy helps to cure various skin and hair related problems. The growing awareness among the population regarding the benefits of aromatherapy in the treatment of disease at low costs is boosting its demand across the globe.

The rising healthcare costs is stimulating the consumer to opt for alternative medicines and natural therapies. The rising popularity of aromatherapy as alternative medicines is significantly boosting the growth of the aromatherapy market across the globe. Moreover, the various therapeutic benefits of the essential oils is boosting the demand for the aromatherapy. The growing penetration of med-spas and aromatherapy centers across the developing nations is boosting the demand for the aromatherapy among the population.

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Key Takeaway

• By product, the consumable segment has held 77% of the total market share in 2021.
• The equipment segment is growing at a CAGR of 8.6% over the forecast period.
• By mode of delivery, the topical segment has accounted 41.5% of the total market share in 2021.
• By application, the relaxation segment has garnered market share of 22% in 2021.
• North America region has accounted for 42% of the total market share in 2021.
  
  

Regional Snapshot

North America accounted for around 42% of the revenue share in 2021. North America is anticipated to retain its significance owing to the rising consumer awareness regarding the therapeutic benefits of aromatherapy and surging prevalence of chronic ailments among the population. The demand for the aromatherapy for stress management and anxiety, cardiovascular diseases, and respiratory diseases is expected to foster the growth of the market during the forecast period. Moreover, the growing demand for wellness tourism is an important aspect that is expected to further boost the growth of the North America aromatherapy market in the forthcoming future.

Asia Pacific is estimated to witness the highest CAGR of around 13.6% over the forecast period. The government in various nations like Thailand, India, China, and Indonesia are focusing towards attracting the tourists especially the medical and wellness tourists. The rising number of fitness cent5ers, spas, and aromatherapy centers in this region is making it a desirable destination among the wellness tourists. Therefore the growth of the Asia Pacific aromatherapy market is expected to boost the growth of the market during the forecast period.

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Scope of the Report

Report Highlights

• Based on the product, the consumables segment accounted for 77% of the market share in 2021. The rising adoption of the essential oils in the aromatherapy due to its therapeutic and health benefits has led to the dominance of this segment in the global aromatherapy market.
• Based on the mode of delivery, the topical segment captured a market share of 41.5% in 2021. This growth is attributed to the rising adoption of the topical application due to its ease and conveniences. The rising prevalence of various ailments and growing adoption of aromatherapy is expected to further fuel the market growth and this segment is expected to retain its significance throughput the forecast period.
• Based on the application, the relaxation segment garnered a market share of 22% in 2021. The huge demand for the relaxation therapies among the consumers owing to the rising prevalence of depression, anxiety, and stress among the consumers has led to the dominance of this segment in the global market.
  
  

Market Dynamics

Driver

Rising wellness tourism

The wellness tourism is undertaken to improve the physical and mental well-being by visiting various destinations and interacting with the local people and local therapies. The developing nations such as India, China, and Thailand are becoming the major wellness tourism destinations owing to the presence of huge number of med-spas, yoga centers, Ayurvedic centers, and similar other natural therapies providing services. The rising awareness among the people regarding the benefits of aromatherapy is expected to boost both the wellness tourism and aromatherapy market during the forecast period.

Restraint

Stringent regulations of the government

The stringent government regulations pertaining to the aromatherapy and essential oils is a major hindering factor. The manufacturers of the essential oils need to specify the various indications that essential oils are used as therapeutic or cosmetic use. In 2014, the US FDA issue a warning letter to Young Living regarding the marketing of the essential oils in aromatherapy as an alternative to cure diseases. Therefore, the stringent government regulations are the major restraining factors for the aromatherapy market.

Opportunity

Rising focus of the manufacturers to increase the aromatherapy product lines

The manufacturers are focusing on the introduction of wide range of essential oil products especially for use in aromatherapies. For instance, doTERRA International launched its new range of spa line products in 2016 that included refreshing body wash, body butter, moisturizing bar, and detoxifying mud mask. These type of new product launches for use in aromatherapy is expected to boost the market growth in the forthcoming future.

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Challenge

Low consumer awareness in the developing nations

There is a lack of consumer awareness and low product penetration in the developing and the underdeveloped markets regarding the essential oils and aromatherapy. The low product penetration and low consumer awareness is expected to present a major challenge for the market players in the upcoming future that may restrict the market growth.

By Product

• Consumables
  • Essential Oils
    • Singles
      • Herbaceous
      • Woody
      • Spicy
      • Floral
      • Citrus
      • Earthy
      • Camphoraceous
      • Others
    • Blends
  • Carrier Oils
• Equipment
  • Ultrasonic
  • Nebulizing
  • Evaporative
  • Heat

By Mode of Delivery

• Aerial Diffusion
• Topical Application
• Direct Inhalation
  
  

By Application

• Skin and Hair Care
• Pain Management
• Relaxation
• Scar Management
• Insomnia
• Cough & Cold
• Others
  
  

By Distribution Channel

• DTC
• Retail
• E-commerce
• B2B

By End Use

• Home Use
• Spa & Wellness Centers
• Hospitals & Clinics
• Yoga & Meditation Centers

By Geography

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • France
• Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Malaysia
  • Philippines
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East & Africa (MEA)
  • GCC
  • North Africa
  • South Africa
  • Rest of the Middle East & Africa

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