Essential Oil & Aromatherapy Market Research Report- Forecast to 2027

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

ID: MRFR/F-B & N/2386-HCR | February 2021 | Region: Global | 110 pages

Market Overview


The essential oils and aromatherapy market size is expected to touch. It is expected that the market will register a growth of 6.18% 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



Frequently Asked Questions (FAQ) :


The major factors that are driving the global essential oil and aromatherapy market are the rising awareness among customers. Also, the various benefits of essential oils are one of the major factors.

It is evaluated that the global market of essential oil and aromatherapy industry will touch USD 4.3 Billion by the year 2023.

Aromatherapy is a treatment procedure in which essential oils are obtained from medicinal plants for better health and psychological well-being.

It is evaluated that the North American region will dominate the essential oils and aromatherapy industry in the coming years.

Diseases related to cough, digestive problems, common cold, acne, etc., can be treated through aromatherapy.

Some of the key players in the essential oil aromatherapy market are- Symrise AG, Now Foods, G. Baldwin & Co. doTerra, Giavuduan international SA, Phoenix Aroma & Esential Oils LLC, Rocky Mountains Oil, Biolandes SAS, etc.

It is expected that the global essential oil and aromatherapy industry will grow at a 6.18% CAGR during the forecast period.

1 Executive Summary

2 Market Introduction

2.1 Definition

2.2 Scope of the study

2.2.1 Research Objectives

2.2.2 Assumptions

2.2.3 Limitations

2.3 Markets Structure

2.4 Stakeholders

3 Research methodology

3.1 Research Methods

3.1.1 Primary research

3.1.2 Secondary research

3.2 Forecast model

3.3 Market Size estimation

4 MARKET DYNAMICS

4.1 Introduction

4.1.1 Trends in Supply/Production

4.1.2 Trends in Demand/Consumption

4.1.3 Value chain analysis

4.1.4 Porter’s five forces

4.1.5 Supply Chain Analysis

4.1.6 Macroeconomic indicators Analysis for top 5 Producing countries

5 MARKET TRENDS

5.1 Consumer Trends

5.2 Feedstock Analysis

5.3 Trends in Production and Consumption

5.4 Trade (Import-export) Analysis

6. GLOBAL ESSENTIAL OIL & AROMATHERAPY MARKET -By Product-Type

6.1 Introduction

6.2 Market size (sub segments)

6.2.1 Essential Oils

6.2.2 Blended Oils

6.2.3 Carrier Oils

6.2.4 Others

7. GLOBAL ESSENTIAL OIL & AROMATHERAPY MARKET -By Flavors

7.1 Introduction

7.2 Market size (sub segments)

7.2.1 Fruits

7.2.2 Spices

7.2.3 Flowers

7.2.4 Herbs

7.2.5 Others

8. GLOBAL ESSENTIAL OIL & AROMATHERAPY MARKET -By Application

8.1 Introduction

8.2 Market size (sub segments)

8.2.1 Food & Beverage

8.2.2 Medical

8.2.3 Personal care

8.2.3.1 Cosmetics

8.2.3.2 Toiletries

8.2.3.3 Fragrances

8.2.3.4 Others

8.2.4 Homecare

8.2.5 Spa & Wellness Products

8.2.6 Others

9. MARKET -By Region

9.1 Introduction

9.2 North America

9.2.1 U.S.

9.2.2 Canada

9.2.3 Mexico

9.3 Latin America

9.3.1 Brazil

9.3.2 Argentina

9.4 Europe

9.4.1 Germany

9.4.2 France

9.4.3 Italy

9.4.4 U.K.

9.4.5 Spain

9.4.6 Rest of Europe

9.5 Asia– Pacific

9.5.1 China

9.5.2 India

9.5.3 Australia

9.5.4 Rest of Asia-Pacific

9.6 RoW

9.6.1 Egypt

9.6.2 South Africa

9.6.3 Others

10. Competitive landscape

10.1 Introduction

10.2 Product- Launch/Development

10.3 Partnerships and Collaborations

10.4 Acquisitions

10.5 Business Expansion

11. COMPANY PROFILES

11.1 G Baldwin & Co (U.K.)

11.2 doTerra (U.S.)

11.3 Rocky Mountains Oil (U.S.)

11.4 Young Living Essential Oils (U.S.)

11.5 Mountain Rose Herbs (U.S.)

11.6 Thann (U.S.)

11.7 Ryohin Keikaku Co., Ltd. (Japan)

LIST OF TABLES

TABLE 1 PESTLE ANALYSIS –CHINA

TABLE 2 PESTLE ANALYSIS- U.S.

TABLE 3 PESTLE ANALYSIS- JAPAN

TABLE 4 PESTLE ANALYSIS- U.K.

TABLE 5 PESTLE ANALYSIS- GERMANY

TABLE 6 KEY SUPPLIERS OF ESSENTIAL OIL & AROMATHERAPY MARKET

TABLE 7 GLOBAL MARKET FOR ESSENTIAL OIL & AROMATHERAPY MARKET, BY PRODUCT-TYPE, (2020-2027), USD MILLION

TABLE 8 GLOBAL MARKET FOR ESSENTIAL OIL & AROMATHERAPY MARKET, BY FAVOURS, (2020-2027), USD MILLION

TABLE 9 GLOBAL MARKET FOR ESSENTIAL OIL & AROMATHERAPY MARKET, BY APPLICATIONS, (2020-2027), USD MILLION

TABLE 10 GLOBAL ESSENTIAL OIL & AROMATHERAPY MARKET SALES AND GROWTH RATE (2020-2027) USD MILLION

TABLE 11 GLOBAL MARKET FOR ESSENTIAL OIL & AROMATHERAPY MARKET TOP 5 COUNTRIES

TABLE 12 GLOBAL MARKET FOR ESSENTIAL OIL & AROMATHERAPY MARKET TOP COMPANIES-USD MILLION

TABLE 13 NORTH AMERICAN GLOBAL MARKET FOR ESSENTIAL OIL & AROMATHERAPY MARKET, BY PRODUCT-TYPE, (2020-2027) USD MILLION

TABLE 14 GLOBAL MARKET FOR ESSENTIAL OIL & AROMATHERAPY MARKET, BY FLAVOURS, (2020-2027), USD MILLION

TABLE 15 GLOBAL MARKET FOR ESSENTIAL OIL & AROMATHERAPY MARKET, BY APPLICATIONS, (2020-2027), USD MILLION

TABLE 16 EUROPEAN GLOBAL MARKET FOR ESSENTIAL OIL & AROMATHERAPY MARKET, BY PRODUCT-TYPE, (2020-2027) USD MILLION

TABLE 17 GLOBAL MARKET FOR ESSENTIAL OIL & AROMATHERAPY MARKET, BY FLAVOURS, (2020-2027), USD MILLION

TABLE 18 GLOBAL MARKET FOR ESSENTIAL OIL & AROMATHERAPY MARKET, BY APPLICATIONS, (2020-2027), USD MILLION

TABLE 19 APAC GLOBAL MARKET FOR ESSENTIAL OIL & AROMATHERAPY MARKET, BY PRODUCT-TYPE, (2020-2027) USD MILLION

TABLE 20 GLOBAL MARKET FOR ESSENTIAL OIL & AROMATHERAPY MARKET, BY FLAVOURS, (2020-2027), USD MILLION

TABLE 21 GLOBAL MARKET FOR ESSENTIAL OIL & AROMATHERAPY MARKET, BY APPLICATIONS, (2020-2027), USD MILLION

TABLE 22 REST OF THE WORLD GLOBAL MARKET FOR ESSENTIAL OIL & AROMATHERAPY MARKET, BY PRODUCT-TYPE, (2020-2027) USD MILLION

TABLE 23 GLOBAL MARKET FOR ESSENTIAL OIL & AROMATHERAPY MARKET, BY FLAVOURS, (2020-2027), USD MILLION

TABLE 24 GLOBAL MARKET FOR ESSENTIAL OIL & AROMATHERAPY MARKET, BY APPLICATIONS, (2020-2027), USD MILLION

TABLE 25 COMPETITIVE LANDSCAPING BASED ON FINACIALS DURING THE YEAR 2020 

LIST OF FIGURES

FIGURE 1 RESEARCH METHODOLOGY

FIGURE 2 PRIMARY DATA ANALYSIS APPROACH

FIGURE 3 SECONDARY DATA ANALYSIS APPROACH

FIGURE 4 TRENDS IN ESSENTIAL OIL & AROMATHERAPY MARKET IMPORTS 2020

FIGURE 5 GROWTH RATE IN ESSENTIAL OIL & AROMATHERAPY MARKET IMPORTS 2020

FIGURE 6 ESSENTIAL OIL & AROMATHERAPY MARKET IMPORTS MARKET SHARE BY TOP 5 IMPORTERS 2020

FIGURE 7 TRENDS IN ESSENTIAL OIL & AROMATHERAPY MARKET EXPORTS 2020

FIGURE 8 GROWTH RATE ESSENTIAL OIL & AROMATHERAPY MARKET EXPORTS 2020

FIGURE 9 ESSENTIAL OIL & AROMATHERAPY MARKET EXPORTS MARKET SHARE BY TOP 5 EXPORTERS 2020

FIGURE 10 VALUE CHAIN ANALYSIS

FIGURE 11 COST ANALYSIS: ESSENTIAL OIL & AROMATHERAPY MARKET

FIGURE 12 PORTER’S FIVE FORCES ANALYSIS

FIGURE 13 GLOBAL MARKET FOR ESSENTIAL OIL & AROMATHERAPY MARKET TRENDS BY PRODUCT-TYPE

FIGURE 14 GLOBAL MARKET FOR ESSENTIAL OIL & AROMATHERAPY MARKET TRENDS BY FLAVOURS

FIGURE 15 GLOBAL MARKET FOR ESSENTIAL OIL & AROMATHERAPY MARKET TRENDS BY APPLICATIONS

FIGURE 16 FINANCIALS