Aromatherapy Market will grow at highest pace owing to growing consumer preference for natural products
The aromatherapy market involves the use of aromatic plant oils and compounds to enhance psychological and physical well-being. Some key products in this market include essential oils such as lavender, lemon, peppermint, eucalyptus and rosemary oil. These oils are known to have calming, stimulating and pain-relieving properties. Aromatherapy is gaining popularity due to the perceived advantages of using pure plant extracts for medical purposes over synthetic drugs. People are increasingly turning to aromatherapy due to growing awareness about its benefits in reducing stress, anxiety and promoting overall wellness.
The Global Aromatherapy Market is estimated to be valued at US$ 6.39 Bn in 2024 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030.
Key Takeaways
Key players operating in the aromatherapy market are doTERRA International, Koninklijke DSM N.V., International Flavors & Fragrances Inc., Symrise, Eden Garden, Young Living Essential Oils, Frontier Natural Products Corporation, Rocky Mountain Oil, Mountain Rose Herbs, Plant Therapy Inc., Thann-Oryza Co. Ltd, G Baldwin & Co., Ouwave Aroma Tech Co. Ltd, RyohinKeikaku Co. Ltd, and Isagenix International LLC. Aromatherapy essential oils and products from these companies have widespread consumer acceptance.
The growing demand for natural personal care and wellness products is fueling the aromatherapy market. Consumers are increasingly using aromatherapy oils for relaxation, sleep enhancement and mood improvement. Various end-use industries like spa and massage centers, household and others are driving significant demand in this space.
Technological advancements are helping improve the extraction of essential oils from plants. Novel extraction methods are enabling higher yield and purity of oils. Companies are also developing innovative delivery formats like aromatherapy candles, diffusers and roll-ons for enhanced consumer experience.
Market Trends
1. Personalization is a key trend gaining traction in aromatherapy. Companies are offering customized blends of essential oils tailored to individual needs and preferences.
2. The integration of aromatherapy with traditional therapy modalities like yoga, meditation and massage is growing in popularity. Several wellness centers provide aromatherapy sessions combined with other therapies.
Market Opportunities
1. Rising health and wellness tourism in regions is opening up opportunities for aromatherapy products and services. Countries with major wellness tourism can potentially grow aromatic value-added services.
2. The e-commerce boom has created opportunities for aromatherapy companies to reach wider consumers through online platforms. Companies are investing in branding and digital marketing to tap the online retail potential.
Impact of COVID-19 on Aromatherapy Market Growth
The COVID-19 pandemic has significantly impacted the growth of the aromatherapy market. During the initial lockdown period across countries, the demand for aromatherapy products witnessed a steep rise as people sought natural remedies and stress-relieving options. The consumption of essential oils for relaxation, mood uplifting, and anxiety reduction increased. However, disruptions in the supply chain created bottlenecks and temporary shortage of certain products in 2020. Gradually as restrictions eased, the market regained momentum.
With ‘work from home’ becoming the new norm, consumers explored usage of aromatherapy for concentration, focus and mental well-being during remote working and study hours. Diffusers and essential oils specially formulated for invigoration and alertness witnessed heightened demand. The heightened focus on health, immunity-boosting and prevention has further augmented the post-pandemic growth of the aromatherapy market. Manufacturers are launching specialized product ranges targeting issues like fatigue, seasonal changes and emotional wellness arising due to the pandemic’s aftermath. They are also innovating convenient delivery formats like roll-ons, ready-to-use sticks to cater to evolving consumer needs.
Going forward, sustainable sourcing and production practices, therapeutic product innovation and digital strategies for education and community building will play a crucial role in strengthening the market recovery. Wider acceptance and adoption of aromatherapy as a complementary treatment approach can further aid in navigating future health crises.
North America has emerged as a concentrated market for aromatherapy in terms of value currently. The region accounts for over 35% market share owing to rising consumer preference for natural remedies, developed retail infrastructure, and widespread popularity of essential oil usage.
The Asia Pacific region represents the fastest growing region for aromatherapy market supported by a booming wellness industry in countries like India, China, Thailand and Australia. Rising health awareness, growing disposable incomes, and expanding spa & therapy culture is propelling higher adoption of aromatherapy practices in the region. Increasing awareness via digital platforms is also playing a role in strengthening the regional market presence, especially in developing countries.
