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Essential Oil & Aromatherapy Market Overview
In 2022, the essential oils and aromatherapy market was projected to be worth USD 7.9 billion. Over the course of the five-year projection period (2023–2032), the essential oils and aromatherapy market is expected to rise at a compound annual growth rate (CAGR) of 9.50%, from USD 8.6 billion in 2023 to USD 17.8 billion by 2032. The growing demand for personal care products and the many health benefits of aromatherapy are the main major factors propelling market expansion.
The growing usage of aromatherapy due to its many health benefits is the main factor expected to drive market expansion. Moreover, increased public knowledge of these alternative treatments will limit market expansion during the projection period.
Among other things, aromatherapy is a useful treatment option for cardiovascular problems, respiratory disorders, and sleeplessness. One major factor driving the industry is consumer awareness of non-invasive techniques. Due to the fact that essential oils are widely used in cosmetics, hair care products, and personal skincare items, suppliers to the essential oil and aromatherapy market are making an effort to fulfil rising customer demand.
The rapid expansion of the e-commerce industry, brought driven by the simplicity of online shopping and the accessibility of a wide variety of goods, is also anticipated to temper market growth.
Additionally, the usage of essential oils has been made easier by the quick shift towards natural and organic products in the personal and beauty care sector. Consumer concerns about environmental sustainability and growing health consciousness in wellness products enhanced sales for the market concern. Furthermore, as e-commerce made it possible for consumers to better comprehend the advantages of essential oils, the penetration of essential oils through these channels has significantly increased demand. According to SPINS 2020, sales of natural products have accounted for 8.4% of all shop sales so far this year and have surpassed sales of conventional, non-natural goods.
Consequently, this is fueling the demand for essential oils and aromatherapy.
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Key Companies in the essential oil & aromatherapy market include
Rocky Mountains Oil (U.S.)
Ryohin Keikaku Co., Ltd. (Japan)
Blossom Kochhar Aroma Magic (India)
do Terra (U.S.)
G Baldwin & Co (UK.)
Thann (U.S.)
G Baldwin & Co (U.K.),
Plant Therapy, Inc (U.S.)
Mountain Rose Herbs (U.S.)
Market Segmentation
The medical, beverages and food, wellness and spa products, home care, personal care, perfumes, toiletries, and cosmetics are among the applications that make up the essential oil and aromatherapy market segmentation. Food and beverages dominated the market in 2022.
The market for essential oils and aromatherapy includes flavours like spices, herbs, flowers, and fruits. The market was heavily dominated by herbs.
Carrier oils, blended oils, and essential oils are part of the market segmentation for essential oils and aromatherapy based on product type. The essential oils industry contributed the most to the market in 2022.
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Regional Segmentation
The report offers market insights for North America, Europe, Asia-Pacific, and the rest of the world by region. North America dominated the market in 2022, accounting for 41.5% of worldwide revenue, as a result of its advanced healthcare system and high healthcare spending in countries like the United States and Canada. Furthermore, over the course of the forecast period, increased awareness of the benefits of alternative medicines is anticipated to support regional market expansion.
Due to the growing acceptance of aromatherapy as a viable therapeutic and pharmaceutical option, Europe holds the second-largest market share for essential oils and aromatherapy. The essential oil and aromatherapy market in Germany had the biggest market share, and the market in the UK had the quickest rate of growth in the continent of Europe.
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