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HEALTHCARE & PHARMACEUTICAL

Aromatherapy Market Analysis by Product (Consumables, Essential & Carrier Oils, and Other Equipment); by Delivery Mode (Aerial Diffusion, Direct Inhalation, and Topical Application); by Distribution Channel (Retail, E-Commerce, and B2B); and by Application (Cold & Cough, Skin & Hair Care, Pain & Scar Management, Insomnia, and Others)– Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • dōTERRA 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.

Global Aromatherapy Market Size, Forecast, and Trend Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

12%

Base Year Market Size (2022)

 USD 1823.0 Million

Forecast Year Market Size (2033)

USD 5837.0 Million

The global aromatherapy market is estimated to garner a revenue of USD 5837.0 Million by the end of 2033 by growing at a CAGR of 12% over the forecast period, i.e., 2023-2033. Further, the market generated a revenue of USD 1823.0 Million in the year 2022. 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-Market-Scope

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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.

Global Aromatherapy Market: Growth Drivers and Challenges

Growth Drivers

  • Higher Prevalence of Non-Communicable Diseases - World Health Organization published a report demonstrating that around 41 million people die due to non-communicable diseases every year, while the age group of people living with non-communicable diseases is stated to be between 30 to 69.
  • Rising Cases of Hypertension - It has been a long time since essential oils are being used to cure certain conditions and hypertension is one of them. It observed that nearly 690 million people live with untreated hypertension while in 2019, about 80% of the global population was noticed to be suffering from hypertension. It observed that by inhaling essential oils such as, lavender, neroli, marjoram and others can reduce blood and stress hormones. Stress is the primary cause of hypertension since in the state of stress, a hormone called cortisol is produced that triggers hypertension. Therefore, such a demand is expected to hike the market growth over the forecast period.
  • Increasing Demand for Aromatherapy for Pain Management - For instance, more than 8% of the global population suffers from chronic pain, meanwhile, for the United States, the annual cost of pain management is projected to be approximately USD 600 billion.
  • Escalating Utilization of the Therapy in Kidney Diseases - As of 2022, more than 9% of the population is estimated to be living with chronic kidney disease while millions of people lose their lives annually due to kidney diseases.
  • Escalating Cases of Skin Problems - In 2021, over 5 million people in the USA are observed to be living with psoriasis while around 100 million are across the globe.

Challenges

  • Higher Cost Associated with the Aromatherapy
  • Lack of Awareness across the Globe
  • Possibility of Allergies and Side-Effect

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.

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

Global-Healthcare-Expenditure

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.

Global Aromatherapy Market Regional Synopsis

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.

Aromatherapy-Market-Analysis

The global aromatherapy market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global aromatherapy market includes the following segments:

By Product

  • Consumables
  • Essential & Carrier Oils
  • Other Equipment

By Mode of Delivery

  • Topical Application – 41.03%
  • Aerial Diffusion – 23.5%
  • Direct Inhalation – 35.5%

By Distribution Channel

  • Retail
  • E-Commerce
  • B2B

By Application

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

Top Featured Companies Dominating the Global Aromatherapy Market

  • Sparoom
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • dōTERRA International, LLC 
  • Biolandes SAS 
  • Frontier Cooperative
  • Rocky Mountain Oils, LLC
  • Plant Therapy Essential Oils
  • Edens Garden 
  • EO Products
  • Stadler Aktiengesellschaft Chamerstrasse
  • RyohinKeikaku Co., Ltd.

 

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