Aromatherapy Market size is estimated to surpass USD 5.83 Billion by the end of 2033, growing at a CAGR of 12% during the forecast period i.e., 2023-2033. In the year 2022, the industry size of aromatherapy was over USD 1.82 Billion.The growth of the market can primarily be attributed to the rising cases of insomnia across the globe. A report published by the National Library of Medicine showed that 10% to 30% of the population suffer from insomnia which even reached 50% to 60%.
Aromatherapy refers to the holistic healing treatment, in which natural aromatic extracts and essential oils are used to heal and cure particular disorders and diseases. Before conducting aromatherapy, the practitioner or respective medical professional collects all the information about the medical history of the patients. Global aromatherapy market trends such as a rising inclination toward personal hygiene and organic products and the increasing prevalence of cardiovascular diseases, anxiety, and immune system dysfunction are projected to influence the market growth positively over the forecast period. In 2020, approximately 60% of the people were found to be living with anxiety across the globe while the United States was observed to be the most prevalent area.
Application (Cold & Cough, Skin & Hair Care, Pain & Scar Management, Insomnia)
The global aromatherapy market is segmented and analysed for demand and supply by application into cold & cough, skin & hair care, pain & scar management, insomnia, and others, out of which, the skin & hair care segment is projected to witness the largest share in the global aromatherapy market over the forecast period. The growth of the segment is ascribed to a rising inclination toward personal grooming. For instance, in 2022, the revenue generated by the skin care segment was projected to be around USD 6 billion.
Delivery Mode (Aerial Diffusion, Direct Inhalation, Topical Application)
On the other hand, the market is segmented by mode of delivery into topical application, aerial diffusion, and direct inhalation. Out of which, the topical application holds the largest market share with 41.03%, with aerial diffusion at 23.50%, and direct inhalation at 35.5%. The highest share of topical application segment can be attributed to the high demand for over the counter treatments and ease in application in topical medium.
Major Macro-Economic Indicators Impacting the Market Growth
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5,355.79, which grew from USD 3,515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Our in-depth analysis of the global market includes the following segments:
By Mode of Delivery
By Distribution Channel
Regionally, the global aromatherapy market is studied into five major regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa region. Amongst these markets, the market in the North America region held 42.16% share in 2022, and is projected to keep holding the largest market share by the end of 2033. The growth of the market in the region can be attributed to the rising number of chronic diseases and hypertension. Based on the data provided by the Centers for Disease Control and Prevention, it was stated that every 6 in 10 individuals in the United States live with at least one chronic disease while 4 in 10 individuals are noticed to have two or more chronic diseases. Moreover, the presence of well-structured health infrastructure and increasing disposable income of the region is further estimated to hike the market growth over the forecast period. Additionally, the market in the Asia Pacific region held a share of 23.11%, while market in the Europe region held a share of total 25.21% in the year 2022.
dÅTERRA International, LLC to receive “Best Essential Oils in Utah Valley” for the fourth consecutive year with more than 300,000 votes. The award was offered to appreciate the company’s long-lasting impact on local and global communities in the Utah Valley Reader’s Award hosted by the Daily Herald every year.
Edens Garden to launch 3 types of sprays for the room. These sprays are easy to use along with tons of benefits for the breath and refreshing and energizing qualities of fatigue fix. Furthermore, these sprays are made with 100% pure essential oils to neutralize odor.
Author Credits: Radhika Gupta, Shivam Bhutani