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CHEMICALS AND ADVANCED MATERIALS

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 2022-2031

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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

  • May 31, 2022: 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.
  • October 28, 2021: 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 AromatherapyMarket Size, Forecast, and Trend Highlights Over 2022 - 2031

Aromatherapy-Market-CAGR

The global aromatherapymarket is estimated to garner robust revenue by the end of 2031 by growing at a CAGR of ~10% over the forecast period, i.e., 2022 – 2031. Further, the market generated remarkable revenue in the year 2021. 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-Overview

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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 petients. 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 AromatherapyMarket: 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 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 has been a long time since essential oils are being used to cure certain conditions and hypertension is one of them. 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 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 aromatherapymarket is segmented and analyzed for demand and supply by applicationintocold & 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.

Major Macro-Economic Indicators Impacting the Market Growth

Major-Macro-Economic-Indicators-Impacting-the-Market-Growth

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, the Chemical industry in the U.S. accounted for 16.43% of manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in the future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, which accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. The easy availability of low-cost raw materials&labor, as well as government subsidies and relaxed environmental norms, have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for investment in businesses in Asia Pacific countries in the upcoming years.

Global AromatherapyMarket Regional Synopsis

Regionally, the global aromatherapymarket 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 regionis projected to hold the largest market share by the end of 2031. 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.

Aromatherapy-Market-Analysis-Size

The global aromatherapymarket 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 aromatherapymarket includes the following segments:

 

By Product

  • Consumables
  • Essential & Carrier Oils
  • Other Equipment

 

By Delivery Mode 

  • Aerial Diffusion
  • Direct Inhalation
  • Topical Application

 

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 AromatherapyMarket

  • 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
  • StadlerAktiengesellschaftChamerstrasse
  • RyohinKeikaku Co., Ltd.

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