Aromatherapy is a holistic healing treatment that uses natural plant extracts to promote health and well-being. Products used in aromatherapy include, aromatic spritzers, bathing salts, body oils, clay masks, creams, or lotions for massage or topical application, diffusers, facial steamers, hot and cold compresses, and inhalers.
The global aromatherapy market is estimated to account for US$ 5,061.9 Mn in terms of value and is expected to reach US$ 8,798.7 Mn by the end of 2027 states Coherent Market Insights.
Increasing prevalence of asthma is expected to propel growth of the global aromatherapy market over the forecast period. For instance, according to The Global Asthma Report 2018, around 300 million people have asthma worldwide, and the number is expected to reach 100 million by 2025.
Global Aromatherapy Market: Opportunities
R&D in essential oils is expected to offer lucrative growth opportunities for players in the global aromatherapy market. For instance, in May 2020, researchers from Università “Magna Græcia” di Catanzaro, Italy, investigated essential oils as a potential resource of new kinase inhibitors with a polypharmacological profile.
Global Aromatherapy Market: RestraintsSale of fraudulent aromatherapy products is expected to hinder growth of the global aromatherapy market. For instance, in March 2020, The U.S. Food and Drug Administration and Federal Trade Commissionissued warning letters to Vital Silver; Quinessence Aromatherapy Ltd.; Xephyr, LLC doing business as N-Ergetics; GuruNanda, LLC; Vivify Holistic Clinic; Herbal Amy LLC; and The Jim Bakker Show for the sale of fraudulent products aimed at the Covid-19.
The global aromatherapy market was valued at US$ 4,685.7 Mn in 2019 and is forecast to reach a value of US$ 8,798.7 Mn by 2027 at a CAGR of 8.2% between 2020 and 2027. Major factor driving the growth of global aromatherapy market during the forecast period include launch of new products, and increasing prevalence of cancer.
Consumables held dominant position in the global aromatherapy market in 2019, accounting for 85.7% share in terms of value, followed by Equipment, respectively.
As per Coherent Market Insight’s findings launch of rehabilitation programs for patients with acute brain injuries is expected to propel the growth of the global aromatherapy market over the forecast period. For instance, in August 2019, Nexus Neuro ecovery Center, U.S., launched Integrative Neurorehabilitation ProgramMajor players in the global aromatherapy market are focused on R&D activities to expand their product portfolio. For instance, in June 2020, doTERRA was accepted as a supporting member of the Research Institute for Fragrance Materials (RIFM).
Aromatherapy essential oils are regulated depending on their indications and usage. In the U.S., FDA determines a product’s intended use based on the claims made in the labelling, in the websites, and in advertising. It also determines how a product is marketed.
Global Aromatherapy Market: Competitive Landscape
Major players operating in the global aromatherapy market include doTERRA, Young Living Essential Oils, Mountain Rose Herbs, Edens Garden, Frontier Natural Products Co-op. (Aura Cacia), Rocky Mountain Oils, Plant Therapy Essential Oils, YGYI, Inc., and MONQ, LLC.
Global Aromatherapy Market: Key DevelopmentsMajor players in the global aromatherapy market are focused on launching new products to expand their product portfolio. For instance, in August 2018, YGYI, Inc. launched three new essential oil blends (Copaiba Plus, Big Smile, and Bounce Back) that deliver exclusive aromatherapy support to specific areas of wellness, at the 2018 Convention in San Diego, California, U.S.
------------------------------------- Coherent Market Insights, Pune, India