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 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.
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.
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.
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.
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.
In 2021, over 5 million people in the USA are observed to be living with psoriasis while around 100 million are across the globe.
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.
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.
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.
The global aromatherapymarket is further classified on the basis of region as follows:
Our in-depth analysis of the global aromatherapymarket includes the following segments:
By Delivery Mode
By Distribution Channel
Top Featured Companies Dominating the Global AromatherapyMarket
FREQUENTLY ASKED QUESTIONS
Rising cases of insomnia and rising cases of hypertensionareestimated to majorly boost market growth.
The market is anticipated to attain a CAGR of ~10% over the forecast period, i.e., 2022 – 2031.
The higher cost associated with aromatherapy and lack of awareness across the globe areestimated to challenge market growth.
The market in North America regionis projected to hold the largest market share by the end of 2031 and provide more business opportunities in
The major players in the market are dōTERRA International, LLC, Biolandes SAS, Frontier Cooperative, Rocky Mountain Oils, LLC, Plant Therapy Essential Oils, Edens Garden, EO Products, and others
The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue-generating capacity as well as the new products being launched into the market by the company.
The market is segmented by product, delivery mode, distribution channel, application, by region.
The skin & hair is anticipated to garner the largest market size by the end of 2031 and display significant growth opportunities.
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