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The global aromatherapy market size reached USD 1.51 billion in 2023. The market is poised to surge from USD 1.60 billion in 2024 to USD 2.58 billion by 2032, depicting a CAGR of 6.27% during the projection period.
Aromatherapy involves the medicinal use of aromatic essential oils for the improvement of emotional and physical health. Many individuals seek this therapy on account of its stress-relief and relaxation benefits owing to busy and modern lifestyles, which spurs product demand.
The COVID-19 pandemic period observed the temporary closure of retail stores and wellness establishments in light of the enforced lockdown restrictions. Nonetheless, the period also registered an upsurge in product sales through e-commerce platforms.
Fortune Business Insights™ provides this information in its research report, titled “Aromatherapy Market, 2024-2032”.
List of Key Players Mentioned in the Report:
The Aromatherapy Place (U.S.)
Cleveland Clinic (U.S.)
Aromatherapy Associates (U.K.)
Aromatics International (U.S.)
Aromatics Spa (Kenya)
Lake Austin Spa Resort (U.S.)
Tranquil Luxury Thai Spa (India)
Aromatherapy Clinic (Australia)
Serenity Spa (U.S.)
Bliss Aromatherapy & Wellness (U.S.)
Miraval Arizona Resort & Spa (U.S.)
Lewisia Wellness (India)
Red Mountain Resort (U.S.)
Oriental Healing Oasis & Wellness Center (U.S.)
Sundara Inn & Spa (U.S.)
Segmentation:
Holistic Aromatherapy Segment to Lead Propelled by Rising Demand
By form, the market is classified into medical aromatherapy, holistic aromatherapy, and others. The holistic aromatherapy segment is set to record a major share in the global market. This is due to the escalating product demand on account of the synergistic effect provided through combination with other wellness practices such as acupuncture, yoga, and others.
Inhalation Segment to Register Largest Share Due to Efficacy in Addressing Mood Disorders
On the basis of mode, the market is subdivided into topical, bathing, and inhalation. The inhalation segment is set to account for a key aromatherapy market share. The dominance can be attributed to the enhanced use of the mode for addressing anxiety, stress, and mood disorders due to its efficacy for these conditions.
Commercial Segment to Record Dominating Share Due to Increasing Product Adoption in the Hospitality Sector
By end-user, the market is segregated into commercial and residential. The commercial segment is poised to dominate the global market due to the escalating adoption of aromatherapy by several hospitality businesses for enhancing their overall experience.
By geography, the market has been analyzed across North America, Europe, South America, Asia Pacific, and the Middle East & Africa.
Report Coverage:
The report provides a detailed analysis of the global business scenario on the basis of numerous segments: mode, form, end-user, and geography. It also enlists the latest trends and the key factors poised to impel industry expansion. The competitive landscape of the industry has also been provided in the report.
Drivers and Restraints:
Industry Value to Expand with Rising Innovation and Provision of Integrated Services
There has been an increase in technological advancements such as the integration of wellness apps and aromatherapy services, which offer personalized recommendations and help track therapy use. The market has also recorded the debut of various portable devices such as portable nebulizers, car diffusers, and wearable diffusers. Such aspects are slated to push product adoption.
However, the dependence of essential oil production on plants, that are sensitive to seasonal variations, could affect raw material supply, hindering aromatherapy market growth.
Regional Insights:
Europe Records Major Share Owing to Long Cultural Tradition of Plant-based Therapies
In 2023, the Europe market size stood at USD 0.57 billion and the region accounted for a leading share of the global market. This can be credited to the rich cultural tradition of using plant-based therapies and essential oils in the region. Besides, Germany and France have been exhibiting a centuries-long hold over practice and research in the field of aromatherapy.
Asia Pacific’s market value is spurring on account of a rise in disposable income. In addition, there has been an increasing incorporation of the therapy in the service portfolios of several wellness centers, resorts, and spas.
Competitive Landscape:
Prominent Players Strike Collaborations with Healthcare Providers to Enhance Patient Care
Leading market players are keen to implement various strategic steps to establish a strong footing in the industry. They are entering partnerships with healthcare providers. The intent behind such collaborations is the integration of aromatherapy into patient care.
Key Industry Development:
September 2023 – Molten Brown launched Reviving Rosemary. The company’s first ever aromatherapy collection has been rolled out for providing an enhanced experience to both hotel partners and guests.
Get A Free Sample Research Report PDF: https://www.fortunebusinessinsights.com/aromatherapy-market-110637
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