; Essential Oil & Aromatherapy Market size, share, trend 2032

Essential Oil and Aromatherapy Market

Essential Oil & Aromatherapy Market Size, Share, and Analysis, By Product (Carrier Oil, Essential Oils, and Blended Oils), By Application (Medical, Food and Beverages, Spa and Relaxation, and Others), By Distribution Channel (Direct Distribution, MLM Distribution, and Retail Distribution), By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2023-2032

Published on: Nov-2023
Report Code: FG HC 01753
No. of Pages: 170-350
Report Format: PDF

Essential Oil & Aromatherapy Market is expected to grow at a CAGR of 7.4% in the forecast period (2023-2032), with the market size valued at USD 17.6 billion in 2022 and projected to reach USD 36 billion by 2032.

Product Overview

Essential oils are highly concentrated plant extracts that contain aromatic elements and have potential therapeutic benefits. The oils are extracted using methods such as distillation or cold pressing, which preserve the plant's natural fragrance and healing properties. These essential oils are used in aromatherapy which is a holistic technique to enhances mental, emotional, and physical well-being.

 

Source: Fatpos Global

Market Highlights

Essential Oil & Aromatherapy Market is expected to exhibit a CAGR of 7.4% during the forecast period

Essential Oil & Aromatherapy Market is expected to reach USD 36 billion, growing at a CAGR of 7.4% during the forecast period, owing to rising popularity of essential oils in aromatherapy and the growing awareness of their benefits. Aromatherapy involves inhaling aromatic scents through diffusers and applying diluted essential oils to the skin during massages or baths. The therapy uses natural plant scents to encourage overall wellness by utilizing the unique characteristics of every oil which impact mood, stress reduction, and general health.

Source: Fatpos Global

Essential Oil & Aromatherapy Market Segmentation

Essential Oils segment is estimated to gain a large revenue share for their benefits

On the basis of Product Type, the market is divided into Carrier Oils, Blended Oils, and Essential Oils. The essential oils segment dominated the market owing to the foundational role they play in aromatherapy. Essential oils are extracted from plant and offer multiple physical and mental health advantages. They have anti-inflammatory and antibacterial properties that help with skin conditions like acne and are widely used to treat insomnia.

Food & Beverage segment is expected to grow rapidly

By Application, the market is divided into Medical, Food & Beverages, Spa & Relaxation, and Others. Food and beverage segment dominated the market owing to the diverse bioactive properties of essential oils, which make them an ideal substitute for synthetic additives in a variety of commercial food products. These natural derivatives provide multiple flavors and antioxidant properties which contributes to the growing consumer demand for healthier food ingredients. Additionally, the increasing use of essential oils in food and beverage products aligns with growing customer demand for organic components, which drives the market toward healthier and more sustainable F&B offerings.

Market Dynamics

Growth Drivers

Rising Demand for Natural Alternatives Will Drive the Growth of the Essential Oils Market

Essential oil and aromatherapy market is expanding rapidly due to a growing consumer demand for organic solutions across multiple industries. The growing preference for natural alternatives in personal care, wellness, and homecare products fuels the demand for essential oils. These oils effectively meet the needs of consumers and provides natural therapeutic properties in skincare, aromatherapy, and holistic wellness. Furthermore, the market is witnessing a rapid expansion, owing to the consumers' trust in natural remedies and increasing requirement for plant-based products which align with healthier lifestyle choices. This has led to an increase in the use of essential oils in a variety of industries.

Growing Interest in Aromatherapy to Support Essential Oils' Market Growth

Increasing demand for aromatherapy within spa and wellness industries significantly impacts the essential oil and aromatherapy market. Aromatherapy is becoming increasingly popular in spa and wellness treatments as a way to enhance mood and promote relaxation through the use of essential oils. These oils are being used in these procedures due to increasing evidence indicating their effectiveness in enhancing physical and emotional well-being. As a result of these factors, the market for essential oil and aromatherapy is swiftly expanding as consumers are actively seeking holistic therapies and stress-relieving treatments.

Restraints

Absence of Regulatory Standards May Impede the Growth of Essential Oil Market

A major obstacle in the essential oil and aromatherapy market is the absence of standard regulations and quality assurance procedures. The lack of consistent guidelines for production, labeling, and quality assurance results in variations in the quality, authenticity, and efficacy of essential oils available in the market. This inconsistency makes it difficult for consumers to identify genuine and high-quality products, which impacts the trust and credibility of the market. These issues could be addressed by establishing comprehensive industry standards to ensure the authenticity of products and market stability.

Recent Developments

  • In May 2020, Geneva-based Firmenich International SA acquired Les Dérivés Résiniques et Terpéniques (DRT), a global leader in renewable, natural ingredients. This acquisition positions Firmenich as a top renewable ingredient’s provider, strengthening its perfumery and ingredients business to offer customers a premier selection of sustainable ingredients.
  • doTERRA announced the launching of many essential oils and products in September 2022. Products such as eucalyptus, guaiac wood, Spanish sage, and doTerra Hope Touch will be accessible by 2022-2023.

Essential Oil & Aromatherapy Market

Key Players Covered:

  • Young Living Essential Oils
  • doTERRA
  • Aromatherapy Associates
  • NOW Foods
  • Rocky Mountain Oils
  • Plant Therapy
  • Aura Cacia (Frontier Co-op)
  • Eden’s Garden
  • Mountain Rose Herbs
  • Radha Beauty
  • Plant Guru
  • Healing Solutions
  • Floracopeia
  • Native American Nutritionals (NAN)
  • Aveda
  • Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Regional Analysis

Essential Oil & Aromatherapy Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America leads the essential oil & aromatherapy market due to the presence of a well-established healthcare system and increasing healthcare expenditure across developed countries such as the United States and Canada. Additionally, rising public awareness of the benefits of alternative natural therapies is anticipated to drive regional market expansion.

Europe holds a significant market share in the global essential oil and aromatherapy market, driven by factors such as growing consumer preference for natural wellness solutions and the increased use of aromatherapy in medical services.

 Impact of Covid-19 on Essential Oil & Aromatherapy Market

The COVID-19 pandemic had a profound impact on the essential oil and aromatherapy markets. Initially, there was a surge in demand for certain essential oils that were thought to have antiviral or immune-boosting properties. However, the market faced challenges due to supply chain disruptions, which impacted raw material availability and distribution channels. Additionally, lockdowns and restrictions impacted the traditional sales channels, such as spas, wellness centers, and retail outlets, which caused a shift toward online platforms. The market witnessed these fluctuations due to economic uncertainties, which affected consumer spending on non-essential items like aromatherapy products during the pandemic.

Global Essential Oil & Aromatherapy Market is further segmented by region into:

  • North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
  • Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
  • Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
  • Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
  • Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Essential Oil & Aromatherapy Market Scope and Segments:

ATTRIBUTE

  DETAILS

Study Period

2023-2032

Base Year

2022

Forecast Period

2022-2032

Historical Period

2019-2022

Growth Rate

CAGR of 7.4% from 2022-2032

Unit

Value (USD Billion)

Segmentation

Main Segments List

By Product

  • Carrier Oil
  • Essential Oils
  • Blended Oils

By Application

  • Medical
  • Food and Beverages
  • Spa and Relaxation
  • Others

By Distribution Channel

  • Direct Distribution
  • MLM Distribution
  • Retail Distribution

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

 

Frequently Asked Questions (FAQ):

Essential Oil & Aromatherapy Market size was values at USD 17.6 billion in 2022 and is projected to reach the value of USD 36 billion in 2032, exhibiting a CAGR of 7.4% during the forecast period.

The essential oil and aromatherapy market involves the production and sale of essential oils and related products used for therapeutic and aromatic purposes, catering to individuals seeking natural wellness solutions.

The Essential Oil Segment accounted for the largest Essential Oil & Aromatherapy Market share.

Key players in the Essential Oil & Aromatherapy Market include Young Living Essential Oils, doTERRA, Aromatherapy Associates, NOW Foods, Rocky Mountain Oils, Plant Therapy, Aura Cacia (Frontier Co-op), Eden’s Garden, Mountain Rose Herbs, Radha Beauty, Plant Guru, Healing Solutions, Floracopeia, Native American Nutritionals (NAN), Aveda, and Other Prominent Players.

Rising demand for natural alternatives and growing interest in aromatherapy are the factors driving the Essential Oil & Aromatherapy Market.

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