Aromatherapy Market – Overview
The global aromatherapy market is expected to grow at a favorable rate from 2021 to 2031 (forecast period). Aromatherapy has been shown to alleviate stress, anxiety, and depression. Aside from treating respiratory issues, cardiovascular illnesses, nervous disorders, and gastrointestinal infections, aromatherapy also helps in motion sickness, weight management, and maintaining healthy liver and gallbladder functions. The widespread use of aromatherapy for a variety of health-related benefits is a major factor projected to boost the global aromatherapy market.
Moreover, increased public awareness of these alternative treatments is expected to drive the aromatherapy market during the forecast period. The increasing rise of the e-commerce sector, owing to the ease of purchasing and availability of a diverse range of products, is also expected to boost the global aromatherapy market. The growing consumer preference for natural products and shifting trends in healing therapies are anticipated to propel the aromatherapy market growth in the future.
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Aromatherapy Market – Competitive Landscape
Key players in the global aromatherapy market are Rocky Mountain Oils, LLC, dōTERRA, Young Living Essential Oils, Edens Garden, Mountain Rose Herbs, Plant Therapy Essential Oils, Hubmar International, FLORIHANA, NOW Foods, Biolandes, Falcon, SpaRoom, EO Products, Stadler Form Aktiengesellschaft, and Ryohin Keikaku Co., Ltd.
To strengthen their market position, market players are employing various methods such as product launches, joint ventures, mergers and acquisitions, and R&D activities.
Aromatherapy Market – Trends and Opportunities
Increasing consumer awareness of the beneficial effects of essential oils on their well-being and health, combined with higher demand for natural products, is expected to drive the global aromatherapy market throughout the forecast period. The global aromatherapy market is likely to be propelled by increased attention on mental health and the rising usage of essential oils for the treatment of mental health issues. Moreover, the increasing adoption of aromatherapy in medical institutions such as hospitals and clinics are expected to increase demand for aromatherapy diffusers and essential oils.
Due to the lockdown measures implemented by many governments, which resulted in people staying at home, demand for aromatherapy escalated during the COVID-19 crisis. Moreover, the demand for aromatherapy in clinics and hospitals skyrocketed as institutions increased their use of it to treat COVID-19-infected patients. The increasing usage of aromatherapy to treat illnesses like anxiety, nausea, depression, and insomnia during the lockdown is expected to bolster global aromatherapy market growth. Moreover, due to their antibacterial and antiseptic characteristics, essential oils, particularly eucalyptus oil and tea tree, are anticipated to witness a surge in demand during the pandemic.
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Aromatherapy Market – Regional Landscape
The North America aromatherapy market is expected to grow due to the presence of a well-established healthcare system and significant healthcare expenditure in developed nations such as the United States and Canada. Moreover, increased awareness of the advantages of alternative treatments is likely to boost regional market expansion during the forecast period.
The aromatherapy market in Europe is projected to witness considerable growth during the forecast period. Aromatherapy's growing appeal as a therapeutic and pharmaceutical alternative is likely to boost the market growth in Europe. Essential oils are mostly sold in European countries such as the United Kingdom, Germany, the Netherlands, Belgium, and Ireland. Since Europe is among the top essential oil traders and has a strong incidence of chronic pain and depression, there is a significant demand for aromatherapy oils among the European population.
The Asia Pacific aromatherapy market is anticipated to expand during the forecast period. Numerous nations in the region are adopting new trends and technologies at a faster rate. Profitable trading prospects for essential oils in nations such as Japan and China, combined with an increased prevalence of various illnesses, are projected to propel the aromatherapy market in Asia Pacific.
Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.