Aromatherapy market is estimated to garner a revenue of USD 5837.0 Million by the end of 2033 by growing at a CAGR of 12% over the forecast period, 2023-2033.

NEW YORK, NEW YORK, UNITED STATE, December 12, 2022 /EINPresswire.com/ -- Global Aromatherapy Market Key Insights

During the forecast period of 2023-2033, the global aromatherapy market is expected to reach an estimated value of ~USD 5837 million by 2033, by expanding at a CAGR of ~12%. The market further generated a revenue of ~USD 1823 million in the year 2022. Major key factors propelling the growth of aromatherapy market worldwide are the growing cases of hypertension across the world and the rising prevalence of non-communicable diseases.

Market Definition of Aromatherapy

Aromatherapy is a treatment known to improve anxiety, poor sleep, tension, dementia, depression and others. Aromatherapy actuates the smell receptors by the use of essential oils extracted from plants to promote health and well-being. The fragrance calms the nerves and activated the certain part of brain as well. Aromatherapy is regarded as both a science and an art. In recent years, aromatherapy has become more well-known in the scientific and medical communities. Aromatherapy has been utilised by people for thousands of years. Aromatic plant elements were used in resins, balms, and oils by ancient civilizations in China, India, Egypt, and other places. These organic ingredients were employed for therapeutic and spiritual objectives. They were known to offer both psychological and physical advantages.

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Global Aromatherapy Market: Growth Drivers

The growth of the global aromatherapy market can majorly be attributed to the new spray launches in the market. For instance, the space will soon have three different sprays from Edens Garden. These sprays are simple to apply and offer a ton of breath advantages in addition to their revitalizing and energizing fatigue-fixing properties. Additionally, the essential oils used to make these sprays are 100% pure, which neutralizes odor. On the other hand, the market growth can also be attributed several collaboration and acquisition among the key market players. For instance, Eternis Fine Chemicals Ltd., a global leader in fragrance chemicals, announced in January 2021 that it completed the 100% acquisition of Tennants Fine Chemicals Ltd. headquartered at Leek, Staffordshire in the United Kingdom and its wholly owned subsidiaries in Singapore and China.

The global aromatherapy market is also estimated to grow majorly on account of the following:

• Increasing prevalence of non-communicable disease

• Growing problems of hypertension among the people

• Rising need of aromatherapy for relieving pain

• Higher incidences of skin related problems

• Increased use of aromatherapy for treating kidney ailments

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Global Aromatherapy Market: Restraining Factor

There are chances of getting allergies and side effect by various essential oils, the aromatherapy is not very popular in many regions. The cost of single aromatherapy session is high. Hence this factor is expected to be the major hindrance for the growth of the global aromatherapy market during the forecast period.

Global Aromatherapy Market Segmentation

• By Product (Consumables, Essential & Carrier Oils, and Other Equipment)

• By Mode of Delivery (Topical Application, Aerial Diffusion, and Direct Inhalation)

• By Distribution Channel (Retail, E-Commerce, and B2B)

• By Application (Cold & Cough, Skin & Hair Care, Pain & Scar Management, Insomnia, and Others)

The skin & hair care segment is to garner the highest market size by the end of 2033. The segment growth is expected on the account of rising skin problem and growing awareness of self-grooming. For instance, the skin care segment generated a revenue of about USD 6 billion in revenue in 2022. Moreover, the burden of disease worldwide is approximately 2% contributed by skin disorders. According to the World Health Organization, nearly 900 million people throughout the world are currently affected by skin disorders, which are among the most prevalent illnesses that impair human health.

• By Region

The North America aromatherapy market is anticipated to hold the largest market share by the end of 2033 among the market in all the other regions. The market growth in the North America is attributed to higher spending on healthcare. National healthcare spending (NHE) increased by 9.7% to $4.1 trillion in 2020, or $12,530 per person, and it represented 19.7% of GDP (GDP). In 2020, Medicare spending increased 3.5% to $829.5 billion, or 20% of all NHE. Spending on Medicaid increased 9.2% to $671.2 billion in 2020, or 16% of all NHE. Furthermore, higher cases of chronic diseases and hypertension. According to data from the Centers for Disease Control and Prevention, 4 out of 10 Americans are found to have two or more chronic diseases, and 6 out of 10 Americans are estimated to have at least one chronic illness.

The market research report on global aromatherapy also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).

Key Market Players Featured in the Global Aromatherapy Market

Some of the key players of the global aromatherapy market are dōTERRA International, LLC, Biolandes SAS, Frontier Cooperative, Rocky Mountain Oils, LLC, Plant Therapy Essential Oils, Edens Garden, EO Products, Sparoom, Stadler Aktiengesellschaft Chamerstarasse, RyohinKeikaku Co., Ltd., and others.

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