"Aromatherapy Market Growth: Anticipated CAGR of 4.69% to Reach USD 2.1 Billion by 2030"
Aromatherapy Market Overview
The size of the aromatherapy market was estimated at USD 4.9 billion in 2021. According to projections, the market for aromatherapy will increase from USD 5.3 billion in 2022 to USD 10.5 billion in 2030, with a compound annual growth rate (CAGR) of 10.10% over the forecast period (2022- 2030). The primary market factors accelerating market expansion include aromatherapy's non-intrusive nature and its widespread use.
As more people become aware of the therapeutic benefits of essential oils like lavender oil, cedarwood oil, Roman chamomile oil, rose oil, and hyssop oil, the aromatherapy sector is expected to grow significantly. These essential oils are frequently used in aromatherapy, and growing consumer knowledge of the therapeutic benefits of essential oils is fuelling the global aromatherapy industry.
Aside from the health advantages of essential oils, demand for aromatherapy is rising globally due to consumers' shifting tastes towards natural products. Additionally, aromatherapy is accepted as a substitute therapy for several illnesses, such as cardiovascular disease, pain, colds and coughs, respiratory problems, wounds, anxiety, insomnia, digestive problems, immune system issues, and skin issues. Future market growth is probably driven by the rising demand for aromatherapy among women who have skin conditions including acne and scarring.
In addition, various chronic diseases are becoming more common among the general population. People are turning to preventative care and alternative healthcare solutions because of the high cost of healthcare.
The demand for preventative care products is driving up the use of aromatherapy because of its many therapeutic and health benefits.
Segmentation
Essential oil, carrier oils, blended oils, and other products are included in the segmentation of the aromatherapy market based on product type. During the expected period, the essential oil industry was the largest contributor to the market.
The equipment-based segmentation of the aromatherapy market outlook includes heat, ultrasonic, and nebulizer diffusers. During the anticipated period, the market segment for nebulizing diffusers contributed the most percentage.
The market data for aromatherapy has been divided into tropical, inhalation, and aerial diffusion applications. The aerial diffusion industry held the largest market share during the anticipated time frame.
The aromatherapy market has been divided into categories for skin and hair care, pain treatment, relaxation and sleep, and other cures based on its therapeutic applications. The pain management category had the biggest contribution to the market over the anticipated timeframe.
The analysis offers market insights for North America, Europe, Asia-Pacific, and the rest of the world, by region. The prevalence of numerous physical and mental disorders is rising in North America, which has increased demand for aromatherapy. In addition, healthcare in North America is very expensive, which is why many people choose natural treatments and preventive care over medications.
From 2022 to 2030, the Asia-Pacific Aromatherapy Market is anticipated to experience the quickest CAGR growth. because there is a growing market for natural products. Furthermore, the expansion of the market is projected to have attractive potential due to increased disposable income in these areas and a growing health and wellness sector. Additionally, the India Aromatherapy Market had the quickest rate of growth in the Asia-Pacific region, while China Aromatherapy Market had the greatest market share.
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