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Essential Oil & Aromatherapy Market Overview
The market size for essential oils and aromatherapy was estimated at USD 7.9 billion in 2022. It is anticipated that the essential oils and aromatherapy market would increase from USD 8.6 billion in 2023 to USD 17.8 billion by 2032, with a compound annual growth rate (CAGR) of 9.50% over the five-year projection period (2023–2032). 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.
It is also expected that market development will be restrained by the e-commerce industry’s explosive growth, which has been propelled by the ease of online purchasing and the availability of a vast array of products.
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
By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. Due to its sophisticated healthcare system and high healthcare spending in nations like the United States and Canada, North America dominated the market in 2022, accounting for 41.5% of global revenue. Additionally, throughout the course of the projection period, regional market growth is projected to be aided by greater knowledge of the advantages of alternative medicines.
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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