Aromatherapy Products Market Expected to Reach $5.3 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Aromatherapy Products Market," The aromatherapy products market was valued at $2.3 billion in 2021, and is estimated to reach $5.3 billion by 2031, growing at a CAGR of 9% from 2022 to 2031.

Aromatherapy is the technique of using essential oils (EOs) and other fragrant molecules from plants to influence someone's mood or health. It is frequently linked to complementary and alternative medicine (CAM). René Maurice Gattefossé, a French chemist, first used the aromatherapy term in the 1920s.

Growing popularity for therapeutic treatments and rise in awareness regarding the benefits of aromatherapy products, such as anti-inflammatory, analgesic, antioxidant, immunoregulatory, antimicrobial, antiseptic, herbicidal, insecticidal, and anti-parasitic are likely to supplement the growth of the aromatherapy product market during the forecast period. Furthermore, people can use aromatherapy massage, body, and facial oils for various treatments, such as anxiety, depression, stress, headaches, migraines, chronic pain, acute pain, muscular and joint pain, inflammation, rheumatoid arthritis, and others.

The COVID-19 outbreak positively impacted the overall growth of the aromatherapy products market in 2020.   This was attributed to increase in customer interest in employing aromatherapy to protect mental health and combat pandemic circumstances.

The aromatherapy products market is segmented into form, product, application, distribution channel, and region. On the basis of form, the market is categorized into holistic, medical, and others. By product, it is segregated into essential oils and blend oils. On the basis of application, the market is categorized into relaxation and sleep, pain management, skin and hair care, and others. By distribution channel, it is segregated into direct distribution, MLM distribution, supermarket/hypermarket, pharmaceutical and specialty stores, e-commerce, and others. On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Indonesia, Malaysia, South Korea, Singapore, Australia, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Turkey, UAE, and Rest of LAMEA).

According to the aromatherapy products market trends, on the basis of form, the medical segment is estimated to reach $1,499.6 million by 2031, at a CAGR of 11.1% during the forecast period.  Aromatherapy is an alternative medicine or integrative therapy that works with conventional medicine treatment. Aromatherapy uses medicinally effective aromatic essential oils to enhance physical, mental, and spiritual well-being. It improves mental and emotional wellbeing. Thus, growing preference of people for natural ingredients-based medicinal therapy and rise in awareness regarding the benefits of the aromatherapy are likely to garner growth throughout the aromatherapy products market forecast period. 

According to the aromatherapy products market analysis, by product, the essential oils segment was the significant contributor to the market, with $1,598.7 million in 2021 and is expected to grow at a CAGR of 8.7% during the forecast period. Various types of the essential oils are used for aromatherapy, such as orange, eucalyptus, cornmint, peppermint, citronella, lemon, lime, clove, spearmint, and others. Essential oil is the major and critical component of the aromatherapy products industry, thus it is also call as essential oil treatment. Henace, increase in use of essentail oil in aromatherapy masages and trements are likely to contribute for the aromatherapy products market growth during the forecast period.                                                 

According to application, the pain management segment is estimated to reach $1,539.6 million by 2031, growing at a CAGR of 9.6% during the forecast period. Patients are turning to alternative treatments like aromatherapy items owing to ineffectiveness of oral painkillers. Many people are dependent on painkillers, although they frequently have negative side effects and are ineffective sometimes. In addition, one of the factors driving up demand for aromatherapy products is lack of preference for surgeries for the pain management.

According to distribution channel, the e-commerce segment was the significant contributor to the market, with $86.7 million in 2020 and is growing at a CAGR of 12.4% during the forecast period. Easy accessibility offered by online sales channel boosts its adoption in the aromatherapy products market. E-commerce has becoming a considerably popular medium for purchase of aromatherapy products. Easy availability of information about product specifications, time-saving feature, and facility of home delivery contributes to the growth of online sales.                                      

According to the aromatherapy products market opportunities, region-wise, Asia-Pacific garnered the considerable aromatherapy products market share in 2020, and is expected to maintain its market share during the forecast period.  This is majorly attributed to growing disposable income, which promotes them to spend money on their health and well-being. In addition to this, the country's healthcare spending is rising as well, which is pushing the regional domain.

The players operating in the global aromatherapy products industry have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include dōTERRA, Edens Garden, Young Living Essential Oils, LC, Rocky Mountain Oils, Plant Therapy Essential Oils, FLORIHANA, Biolandes, Falcon Essential Oils, Stadler Form, Hubmar International, SpaRoom, Mountain Rose Herbs, Air Aroma, Nu Skin, and H.Reynaude & Fils.

KEY FINDINGS OF STUDY 

• The aromatherapy products market size was valued at $2,345.1 million in 2020, and is estimated to reach $5,328.3 million by 2030, registering a CAGR of 9.0% from 2022 to 2031.
• By form, the medical segment accounted for $542.6 million, garnering 23.1% of the global market share in 2021.
• By product, the blend oils segment acquired $746.4 million, exhibiting 31.8% of the global market share in 2021. 
• By application, the relaxation and sleep segment was valued at $963.1 million, accounting for 41.1% of the market share in 2021. 
• By distribution channel, the pharmaceutical and specialty stores segment acquired $299.4 million, exhibiting 12.8% of the global market share in 2021. 
• The U.S. was the most prominent market in North America in 2021, and is projected to reach $1,759.6 million by 2031, growing at a CAGR of 8.3% during the forecast period.