The market for aromatherapy is expected to reach $ 4.3 billion by the end of 2023, this market is projected to growing at a CAGR of ~ 6.18 % during 2017-2023.
Pune, India -- (SBWIRE) -- 05/01/2018 -- Aromatherapy uses aromatic oils, and other aroma compounds for improving psychological or physical well-being. The Aroma Therapy Market is rising due to factors such as large number of people opting for aromatherapy, growing lifestyle industry, non-invasive nature of aromatherapy etc. Considering all these factors the market for aromatherapy is expected to reach $ 4.3 billion by the end of 2023, this market is projected to growing at a CAGR of ~ 6.18 % during 2017-2023.
The modern lifestyle has ushered problems such as sleep disturbances, stress etc. which has inflated the market. Also many essential oils can increase immunity, combat cold and breathing disorders.
The market restraints include increasing stringency of regulations such as indications which a market player has to provide. For example, market players need to mention whether the particular essential oil falls under therapeutic grade or cosmetic grade.
Lack of proper guidelines and toxic nature of essential oils is another barrier. For example, Cineole essential oil is poisonous above the recommended dose and an overdose may cause symptoms such as epigastric burning, nausea, vomiting, dizziness, muscular weakness, rapid heartbeat, feeling of suffocation etc. Also there is no good medical evidence that aromatherapy prevents or cures disease.
Global Aromatherapy Market - Key players
Key players profiled in the report are Nu Skin, Air Aroma, Muji, Tree of Life, Young Living, Zija International, d?TERRA, NOW Foods, Neal's Yard Remedies and others.
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Global Aromatherapy Market - Segments
The global aromatherapy market is segmented on the basis of product. Based on the product, the market has been segmented as essential oils, equipment, application and by therapeutic application. The essential oils segment is sub segmented into floral, citrus, green/vegetative, herbaceous/camphoraceous, spicy and others. The equipment segment is sub segmented into nebulizer diffuser, ultrasonic diffuser and heat diffuser. The application segment is sub segmented into tropical, inhalation and aerial diffusion. The therapeutic application segment is sub segmented into relaxation and sleep, pain management, skin and hair care, and other remedies.
Global Aromatherapy Market– Regional Analysis
The global aroma therapy market has been by regions has been segmented into Americas, Europe, Asia Pacific and Middle East & Africa.
The Aromatherapy market has been led by the U.S. followed by Europe. The US market dominates the global Aromatherapy market on account of high per capita income, presence of readymade rich market etc. However the uncertainty and ambiguity regarding the therapeutic potential of aromatherapy is restraining the market.
The second fastest region is Europe especially France which has a tradition of aromatics. It also has to be noted that European nations such as France, Italy etc. is a branded market and the scope of aromatherapy is greater in these regions.
The presence of major aromatherapy companies in these two regions also gives them an edge in the global Aromatherapy market. There has been a definite shift of the Aromatherapy market from the developed regions to the developing ones particularly Asia Pacific countries such as China and India. China is the largest market due to large number of population and its huge manufacturing base. The traditions of aromatherapy in these nations is also a strong market driver despite the lower per capita income of these regions as compared to developed regions.
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The Middle East and Africa market is dominated by the gulf countries. Saudi Arabia, UAE are large lucrative markets due to their greater wealth and the greater expansion of tourism in these regions.
The development of the gulf regions as service sector regions has also led to growth as service sector generates high income. The African continent is led by countries such as South Africa, Algeria and Egypt. The market of remaining Africa is constrained by the poor income of the population and low public healthcare expenditure. Poor political conditions and the presence of other acute and more serious healthcare issues is also hampering the market for Aromatherapy in the poor regions of Africa. The acute and more serious diseases have constrained the demand for aromatherapy in these regions.
Some of Major Table of Content for "Global Aromatherapy Market Research Report- Global Forecast To 2023"
1.2 SCOPE OF STUDY
1.2.1 RESEARCH OBJECTIVE
1.2.2 ASSUMPTIONS & LIMITATIONS
1.3 MARKET STRUCTURE:
2 RESEARCH METHODOLOGY
2.1 RESEARCH PROCESS:
2.2 PRIMARY RESEARCH
2.3 SECONDARY RESEARCH:
3 MARKET DYNAMICS
3.4 MACROECONOMIC INDICATORS
4 MARKET FACTOR ANALYSIS
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