April 22, 2024

Aromatherapy Market is Expected to be Flourished by Growing Demand for Stress Relief and Better Mental Health

Aromatherapy is a form of alternative medicine that uses aromatic essential oils from plants to promote and boost physical and emotional health and well-being. The essential oils are extracted from different parts of plants such as flowers, bark, stems, leaves, roots, and other parts and are said to have different psychological and physiological effects on people. The various oils used in aromatherapy provide relief from stress, anxiety, depression, insomnia and other mental health issues while improving cognitive functions. Some common therapeutic applications include relief from headaches, cold and cough symptoms, pain management, skin care, and digestive issues.

The global Aromatherapy Market is estimated to be valued at US$ 6.39 billion in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The growing demand for alternative treatment methods and natural remedies for stress relief and better mental health is a key driver for the aromatherapy market. During these stressful times of the ongoing covid pandemic and global uncertainty, people are increasingly turning to more holistic and eco-friendly self-care practices rather than relying excessively on allopathic medications. There is a positive shift in consumer preference towards essential oils and natural therapies for improving mood, relaxation and psychological wellness. Furthermore, rising awareness about the side effects of pharmaceutical drugs and post covid impact on wellness is also compelling people to explore alternative options such aromatherapy for supporting mental health and coping with lifestyle disorders. Growing availability of aromatherapy products through e-commerce as well as specialized aroma boutiques and spas across regions will further help expand the market reach over the forecast period.

Segment Analysis
The global aromatherapy market is dominated by essential oils segment which accounts for over 65% share of the market. Essential oils are widely used for aromatherapy purposes owing to their beneficial therapeutic properties. Essential oils of lavender, peppermint, eucalyptus, and lemon are most commonly used for aromatherapy. Among these, lavender essential oil is the most popular and dominating essential oil used in aromatherapy owing to its calming and relaxing properties.

Pest Analysis
Political: Regulations regarding usage of essential oils in different geographies vary which impacts the aromatherapy market. However, supportive government policies for herbal and natural therapies is a positive factor.
Economic: Rising disposable incomes and growing health awareness is driving consumer spending on alternative therapies such as aromatherapy. High focus on self-care post covid has further augmented market growth.
Social: Changing lifestyles and increasing preferences for natural therapies is boosting market demand. Growing popularity of aromatherapy on social media is enhancing its acceptance.
Technological: Advancements in extraction methods has improved essential oil quality and yields. Innovations in aroma diffusers and carrier oils are supporting wider aromatherapy applications.

Key Takeaways
The global aromatherapy market is expected to witness high growth at a CAGR of 8.2% during the forecast period of 2023 to 2030. Essential oils segment dominates with a share of over 65% owing to wide aromatherapy usage of oils of lavender, peppermint, eucalyptus and lemon. Among essential oils, lavender oil is the most popular and dominating owing to its calming and relaxing properties.

Regional analysis
The Asia Pacific region is witnessing fastest growth in aromatherapy market led by China, India and Japan. Increasing disposable incomes, rising health awareness and growing popularity of natural therapies are driving higher adoption of aromatherapy in the region. North America currently dominates the global market led by United States due to high consumer expenditure on wellness and alternative medicines.

Key players
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. These companies offer a wide variety of aromatherapy products including essential oils, blends, diffusers and more.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it