Aromatherapy Market Estimated Growth Potential Through 2023-2032

The Aromatherapy Global Market Report 2023 by The Business Research Company, provides aromatherapy market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Aromatherapy Global Market Report 2023, the global aromatherapy market size grew from $1.77 billion in 2022 to $1.93 billion in 2023 at a compound annual growth rate (CAGR) of 9.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The aromatherapy market size is expected to grow to $2.75 billion in 2027 at a CAGR of 9.2%.Rising stress, anxiety, and depression among people is driving the growth of the aromatherapy market. The COVID-19 pandemic has caused numerous changes in individual lives, including uncertainty, disrupted daily routines, financial strains, and social isolation, leading to increased tension, worry, and sadness. The individuals are looking out for ayurvedic and chemical free methods such as aromatherapy to reduce, anxiety and depression.

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The aromatherapy market is segmented:

1) By Product Type: Consumables, Equipment

2) By Delivery Outlook: Topical Application, Aerial Diffusion, Direct Inhalation

3) By Application: Relaxation, Skin & Hair Care, Pain Management, Cold & Cough, Insomnia, Scar Management, Other Applications

4) By End-Use: Home Use, Spa & Wellness Centers, Hospitals & Clinics, Yoga & Meditation Centers

5) By Distribution Channel: D2C, B2B

Product innovation is a key trend gaining popularity in the aromatherapy market. The companies are focusing on developing innovative equipment and consumables with greater effectiveness to meet the customer demand and strengthen their business reach. One of the recent developments in aromatherapy is usage of CBD in aromatherapy and diffusers. CBD oil is similar to essential oils, made from the direct extraction of oil from the cannabis plant. It has the potential to provide an even higher degree of treatment, hence extending the therapeutic advantages of essential oils. Adding CBD to the mix produces a whole new level of medicinal value that can be much more soothing, has more profound stress relief, and can help control symptoms like inflammation and pain. In January 2022, Martha Stewart CBD, a brand operated by Canopy Growth, a USA-based provider of cannabis and cannabis-based consumer products, lunched new line of products sleep science CBD cream and Daily De-Stress CBD cream with aroma technology.

The aromatherapy market report table of contents includes: