Aromatherapy Market Propelled by Germinating adoption of aromatherapy to Counter Stress & Anxiety

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Aromatherapy uses aromatic essential oils extracted from plants to enhance psychological and physical well-being. Increasing adoption of aromatherapy for stress reduction, relaxation, improved sleep, immunity, pain management and skin care is fueling the aromatherapy market.

The global aromatherapy market is estimated to be valued at US$ 6.39 Billion in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The growing adoption of aromatherapy to counter stress and anxiety is one of the key trends shaping the aromatherapy market. With growing consumer awareness about wellness and prevention, many are turning to aromatherapy as a natural therapy to relieve symptoms of stress and anxiety. Diffusing essential oils or applying them topically is popular for relaxation and calming the mind. Studies show certain essential oils like lavender and bergamot have calming effects that reduce feelings of anxiety. The COVID-19 pandemic has also contributed to increased stress levels and driven demand for aromatherapy products for stress relief.
SWOT Analysis
Strength: Aromatherapy is a natural therapy with no side effects. It helps in reducing stress, anxiety and also helps in overall wellness.
Weakness: The effectiveness of aromatherapy depends on the quality of essential oils used. Substandard oils can reduce its benefits.
Opportunity: Growing health and wellness trend among consumers is driving the demand for aromatherapy. Increasing popularity of essential oils further expands the market opportunities.
Threats: Strict regulations pertaining to the therapeutic claims of aromatherapy can hamper market growth. Availability of alternative therapeutic methods is also a challenge.

Key Takeaways
The global aromatherapy market is expected to witness high growth. Growing awareness about the benefits of aromatherapy for various applications like pain management, skincare, relaxation etc is driving the market.

Regional analysis: North America dominates the aromatherapy market currently due to increasing preference for natural therapies in the region. The Asia Pacific region is expected to witness fastest growth over the forecast period supported by growing health consciousness and emergence of new players in the region.

Key players: Key players operating in the aromatherapy market are doTERRA International, Koninklijke DSM N.V., International Flavors & Fragrances Inc., Symrise, Eden Garden, Young Living Essential Oils, Frontier Natural Products Corporation, Rocky Mountain Oil, Mountain Rose Herbs, Plant Therapy Inc., Thann-Oryza Co. Ltd, G Baldwin & Co., Ouwave Aroma Tech Co. Ltd, RyohinKeikaku Co. Ltd, and Isagenix International LLC. These companies are focusing on expanding their product portfolios as well as global footprint through new product launches and acquisitions.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research

2. We have leveraged AI tools to mine information and compile it

Ravina
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Ravina Pandya,  Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.