Aromatherapy Market Set for Prosperity in Future

The growing incidence of lifestyle-associated diseases and the increasing public awareness about the therapeutic benefits of essential oils are the two major factors causing the surge of the global aromatherapy market. Furthermore, the rising consumer preference for natural products over the conventionally used chemical-based ones and the increasing utilization of aromatherapy at-home are significantly augmenting the progress of the market across the world. As a result, the market is predicted to register substantial growth in the forthcoming years.

The increasing disposable income of the people is boosting the sales of essential oils around the world. Essential oils such as eucalyptus, clary sage, and ginger oil are used as decongestants and pain relievers and assist in digestion respectively, as per the Holistic Aromatherapy Association (HAA). As per the findings of the Organization for Economic Co-operation and Development (OECD), the household disposable incomes in Denmark and Germany grew from 1.2% and 1.6% in 2014 to 2.8% and 2.5% in 2016 respectively.  

Because of this sharp rise in disposable incomes, people are, nowadays, opting for aromatherapy services in spas and salons, that employ the use of various essential oils, for treating health conditions such as inflammation, insomnia, stress, pain, and anxiety. The various beneficial traits of these essential oils such as non-toxic nature are making them immensely popular amongst the masses. The other major factor fueling the growth of the aromatherapy market is the increasing popularity of aromatherapy procedures for self-medication and at-home treatments. 

Depending on product, the market is bifurcated into equipment and consumables. The consumables bifurcation is predicted to exhibit swift growth in the market in the future years. This is because of the surging utilization of various consumables such as essential oils, which are extensively used for treating various types of pain and other ailments. These oils encourage natural healing and are thus, being extensively used in place of many conventional medical procedures across the world. 
Based on application, the aromatherapy market is categorized into skin and hair care, insomnia, cold and cough, pain management, scar management, and relaxation categories. Out of these, the relaxation category recorded the highest growth in the market during the last few years. This is credited to the fact that a large number of people opted for aromatherapy in the past to get relief from stress and anxiety and the numerous side effects usually associated with conventional medicines. 

In the near future, the Asia-Pacific (APAC) aromatherapy market will exhibit rapid expansion, as per the estimates of the market research firm, P&S Intelligence. This is ascribed to the growing awareness amongst the masses about the various benefits offered by aromatherapy in the treatment of different ailments and health conditions and the large-scale production of essential oils in several APAC countries. In addition to this, the presence of a thriving medical tourism industry in Japan and India is further propelling the advancement of the market in this region.

Hence, it can be said with surety that the market will grow at an explosive pace throughout the world in the upcoming years, primarily because of the increasing popularity of natural oils-based treatment procedures and the rising public awareness about the various benefits of aromatherapy over the conventionally adopted healthcare procedures. 
 

This study covers

•             Major factors driving the market and their impact during the short, medium, and long terms

•             Market restraints and their impact during the short, medium, and long terms

•             Recent trends and evolving opportunities for the market participants

•             Historical and the present size of the market segments and understand their comparative future potential

•             Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

•             Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders

•             Major players operating in the market and their service offerings

•             Recent strategic developments by the major players in the market