The global aromatherapy market size is
anticipated to reach USD 2.8 billion by 2026, expanding at a CAGR of 10.4%
during the forecast period. This growth can be attributed to the increased awareness
about the therapeutic benefits of essential oils.
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Aromatherapy is expected to play a
significant role in the field of alternative medicines with a gradual shift
from man-made drugs to essential oils to gain therapeutic values. On the basis
of a 2016 article by the National Center for Biotechnology Information (NCBI),
a clinical trial was conducted on 50 patients suffering from second- and
third-degree burns, to study the effects of inhaling these products. The result
showed that the products were significantly effective in reducing pain arising
from such wounds. Hence, aromatherapy can be used as a complementary therapy
for pain relief amongst burn patients, thereby, supporting the market growth.
Some of the other therapeutic applications include issues related to skin,
digestion, respiratory disorders, insomnia, and immune system functioning.
Essential oils also possess many factors
that make them naturally healing solutions. Therapeutic grade essential oils
positively impact the overall wellness of the patient. These products have the
potential to be natural cleansers and an antibacterial remedy when ingested.
People are also becoming aware of the benefits offered by natural therapies as
they support the body’s innate healing abilities. With experience and
education, they are realizing that bacteria and viruses do not develop
resistance to natural substances, the way they do in case of synthetic drugs.
Further
key findings from the study suggest:
• In 2018, consumables held the largest
market share due to the high therapeutic value of aromatherapy products
• Equipment segment is expected to
witness lucrative growth over the forecast period due to the availability of
new diffusers with advanced features
• Topical application led the market in
2018 owing to the wide therapeutic applications available for the target
population
• Relaxation contributed to the maximum
revenue for the market in 2018 owing to the increased number of people
suffering from stress and anxiety disorders
• Skin and hair care is anticipated to
showcase lucrative CAGR over the forecast period due to increasing incidence of
skin allergies
• Direct-to-customer involves multilevel
marketing of aromatherapy products and is estimated to account for the largest
market share in terms of revenue
• Majority of patients prescribed with
essential oils for diseases tend to make use of aromatherapy products in the
vicinity of their homes, thus, leading to high market share in 2018
• North America led the aromatherapy
market in 2018 due to the huge growth of retail sector
• Few key players include dÅTERRA; Edens
Garden; Young Living Essential Oils; Frontier Natural Products Co-op; Rocky
Mountain Oils; Rocky Mountain Oils, LLC; Plant Therapy Essential Oils;
FLORIHANA; and Biolandes.
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Michelle Thoras
201 Spear Street 1100,
Suite 3036, San Francisco,
CA 94105, United States
Tel: 1-415-349-0054
Toll Free: 1-888-928-9744
Mail: sales@radiantinsights.com
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