Essential oil & Aromatherapy Market Information by Product Type (Essential Oils, Blended Oils, Carrier Oils and others), Flavors (Fruits, Spices, Flowers, Herbs and others), Application (Food & Beverages, Medical, Personal Care (Cosmetics, Toiletries, Fragrances and others), Homecare, Spa & Wellness Products and others) and Region Forecast to 2027

Market Overview

The essential oils and aromatherapy market size is expected to touch. It is expected that the market will register a growth of 11.17% during the forecast period 2017-2023. Various benefits will help the market to grow in the upcoming years. Aromatherapy is used for the treatment of various diseases with the help of essential oils and other compounds. It helps to reduce any kind of stress, cure anxiety issues and depression.

Aromatherapy is also a great option for the treatment of respiratory disorders, cardiovascular problems, and insomnia, etc. The awareness among consumers about non-invasive techniques is one of the major drivers of the market. The essential oil and aromatherapy market users are increasing at a significant rate that is fuelling the market.

In the upcoming years, the essential oils and aromatherapy revenue is likely to increase due to the adverse effects of harmful drugs. Also, the supportive regulations by the government will be an advantage for the essential oil and aromatherapy market growth. However, various disadvantages can affect the growth, such as limited raw materials and the current strict laws.

Essential oil and aromatherapy market supplier across the world are trying to fulfill the rising demand among consumers. It is extensively used in personal skin care products, cosmetics, hair care, etc. This report provides in-depth information about the essential oil and aromatherapy market analysis. Aromatherapy is going to be a booming market due to its efficiency and lowest or no side effects.

COVID-19 Analysis

The COVID-19 pandemic has a harsh impact on the essential oil and aromatherapy industry. Due to the imposition of lockdown, the economies around the world were forced into recession. At the beginning of the lockdown, the production and supply of the market were halted for few months. To contain the spread of the disease, traveling was restricted that has severely affected the supply chain of the market. The essential oil and aromatherapy market growth is expected to boost in the next half of 2020. Several companies are focusing on improving the quality and safety of the products to increase their customer base.

Market Dynamic

Market Drivers

The essential oil and aromatherapy industry is projected to observe significant growth in the upcoming years. One of the major drivers of the market is the increasing demand for natural and invasive procedures across the world. Also, the market has observed a significant rise in the number of skin treatments, which is one of the major factors. Aromatherapy also has medicinal benefits. It is highly effective in treating depression, anxiety, and stress. Other than that, it is also helpful in reducing the addiction to drugs. The above factors are attracting essential oil and aromatherapy market users in large numbers.

Restraints

There are many restraints in the essential oil and aromatherapy industry. The essential oils are available in a very limited amount in some regions. Alongside, the essential oil products are highly expensive. Also, the stricter rules and laws by the government increase the chance of slow growth in the upcoming period. The lack of knowledge regarding the positive effects of aromatherapy can hamper market growth to some extent.

Challenges

The amount of supply is very limited as compared to the essential oils and aromatherapy demand. Due to high competition, the price of the product can increase in the upcoming years.  Also, the availability of other cheap additives can negatively affect market growth.

Opportunities

The essential oils and compounds are crucial to manufacture several new fragrances and perfumes. Technological advancements are in the essential oils and aromatherapy industry will create new opportunities for other industries to flourish because essential oils are also used in skincare products, perfumes, haircare, etc. 

Cumulative Analysis

Due to increasing essential oil and aromatherapy market demand, its value will increase in the upcoming period. It has various advantages and uses for treating several psychological and physical diseases. The global essential oils and aromatherapy industry is expected to have a Compound Annual Growth Rate (CAGR) of 6.18%. It is expected that the market will bloom and will expand up to USD 4.3 Billion by the year 2023.

Value Chain Analysis

According to the essential oil and aromatherapy market analysis, the market will be beneficial for the key players. It is projected that there will be a huge demand for invasive and natural products for several treatments. Due to increasing urbanization and busy lifestyles, the workload and daily pressure lead to stress among people. Aromatherapy can emerge as an effective solution for the treatment in the forthcoming years.

Segment Overview

The global essential oil and aromatherapy market size is segmented into applications, flavors, and product types.

Based upon application, the essential oil and aromatherapy industry is further categorized into personal care such as perfumes, toiletries, cosmetics etc., wellness and spa products, beverages and food, and others.

Based upon flavors, the essential oils and aromatherapy industry is divided into flowers, fruits, spices, herbs, and others. It is evaluated that the category of fruits will comprise a substantial share in the global market. There is a huge demand for fruit flavor among several manufacturers and consumers.

Based upon the product type, the essential oil and aromatherapy industry is further divided into blended oils, essential oils, and carrier oils. The segment of essential oils is projected to observe significant contribution in the essential oil and aromatherapy market growth.

Regional Analysis

Geographically the global essential oils and aromatherapy industry is divided into North America, Asia-Pacific, Europe, and the Rest of the world. It is estimated that the North American region will hold a substantial stake in the global market. It is because of the rising awareness among the consumers regarding several positive effects and benefits.

Europe is the second-largest region to hold a significant essential oil and aromatherapy market share. The presence of key players in various developed countries like Germany, the UK, France, Netherlands, and others is one of the major factors. The Asia-Pacific region is also expected to have steady growth and generate more essential oil and aromatherapy market revenue.

The massive demand for wellness and spa for relaxation among the consumers in the developed countries is beneficial for market growth in the forthcoming years.

Competitive Landscape

Various market players are trying to expand their business foothold and generate more revenue. They use various strategies like collaboration, acquisition, joint ventures to saturate the global market. Similarly, Mountain Rose Herbs announced its partnership with many companies to expand its business across the world.

Here is the list of some major key players-

• Rocky Mountains Oil (U.S.)


• Ryohin Keikaku Co., Ltd. (Japan)


• Blossom Kochhar Aroma Magic (India)


• doTerra (U.S.)


• G Baldwin & Co (U.K.)


• Thann (U.S.)


• G Baldwin & Co (U.K.),


• Plant Therapy, Inc (U.S.)


• Mountain Rose Herbs (U.S.),

Recent Developments

• In the year 2019, the Indian Company called “Blossom Kochhar Aroma Magic” announced its new range of essential oils. The new product contains various blends of essential oils.


• In 2018, A US-based company, “Plant Therapy Inc.” launched three new products of essential oils. The addition of the new products is aimed to increase its business portfolio and brand awareness.

Report Overview

The report overview of global essential oils and aromatherapy industry are as follows-

• Market Overview


• COVID-19 Analysis


• Market Dynamics


• Value Chain Analysis


• Market Segmentation


• Competitive landscape


• Developments by key players

Report Score and Segmentation

The score of the report is to provide insight into the essential oil and aromatherapy industry. This report highlights the future value and strengths of the market. It also provides brief information regarding developments by the key players.

Segmentation

By application

• Medical


• Beverages and Food


• Wellness and Spa Products


• Home care


• Personal care


• Fragrances


• Toiletries


• Cosmetics

By Flavours

• Spices


• Herbs


• Flowers


• Fruits

By Product Type

• Carrier Oils


• Blended oils


• Essential Oils

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