Aromatherapy Market: Players’ Strategies and Revenue Forecast 2032

The global aromatherapy market size stood at USD 1.51 billion in 2023. The market is slated to rise from USD 1.60 billion in 2024 to USD 2.58 billion by 2032, exhibiting a CAGR of 6.27% during the analysis period.

Aromatherapy uses natural plant extracts for the promotion of well-being and health. The mounting awareness among consumers regarding the numerous benefits of using organic and natural solutions augments the product demand across various sectors.

List of Key Players Mentioned in the Report:

• The Aromatherapy Place (U.S.)
• Cleveland Clinic (U.S.)
• Aromatherapy Associates (U.K.)
• Aromatics International (U.S.)
• Aromatics Spa (Kenya)
• Lake Austin Spa Resort (U.S.)
• Tranquil Luxury Thai Spa (India)
• Aromatherapy Clinic (Australia)
• Serenity Spa (U.S.)
• Bliss Aromatherapy & Wellness (U.S.)
• Miraval Arizona Resort & Spa (U.S.)
• Lewisia Wellness (India)
• Red Mountain Resort (U.S.)
• Oriental Healing Oasis & Wellness Center (U.S.)
• Sundara Inn & Spa (U.S.)

Segmentation:

Holistic Aromatherapy Segment to Record Prominent Share Due to Increasing Popularity

Based on form, the market is categorized into medical aromatherapy, holistic aromatherapy, and others. The holistic aromatherapy segment is anticipated to hold a leading market share. The holistic form records a high traction as it is often combined with various wellness practices, such as massage therapy, meditation, and yoga, among others, that help enhance its effectiveness.   

Inhalation Segment to Hold a Major Share Impelled by Benefit of Rapid Absorption of Essential Oils

By mode, the market is divided into bathing, topical, and inhalation. The inhalation segment is poised to capture a prominent share of the global market. This is driven by the benefit of quick absorption of essential oils through the process of inhalation.

Commercial Segment to Dominate Owing to Heightened Product Deployment in Wellness Centers

On the basis of end-user, the market is fragmented into commercial and residential. The commercial segment is slated to record the largest market share. The increased deployment of aromatherapy in wellness centers and spas for enhancing relaxation is set to drive segment growth.  

Based on geography, the market has been studied across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage:

The report provides an account of the competitive landscape, latest industry trends, and the prominent factors driving industry expansion. It further presents an in-depth industry analysis on the basis of numerous segments. The market has been studied based on form, mode, end-user, and geography.

Drivers and Restraints:

Surge in Market Value Impelled by Expansion of Spa and Wellness Sector

Aromatherapy is offered by various wellness centers and spas as part of their services. The therapy forms part of several treatments such as facials and massages. The therapeutic experience is enhanced through the incorporation of essential oils. The global wellness market touched USD 5.6 trillion in 2022 from 4.9 trillion in 2019, cites the Global Wellness Institute (GWI).

Nonetheless, quality-related issues owing to limited access to raw materials may create challenges for aromatherapy market growth.     

Regional Insights:

Europe Holds a Leading Share Impelled by Presence of Stringent Regulatory Policies

Europe bagged 37.56% of the global market share in 2023. The regional aromatherapy market share stood at a dominant position in 2023 owing to the presence of stringent regulatory frameworks that help maintain product efficacy and safety.

North America is poised to expand considering the growing awareness of holistic health practices. The spa industry in the U.S. expanded to USD 21.3 billion in 2023 from USD 20.1 billion in 2022, exhibiting a growth of ~5.7%, according to the ISPA (International SPA Association).

Information Source: https://www.fortunebusinessinsights.com/aromatherapy-market-110637

Competitive Landscape:

Pivotal Players Forge Partnerships with Wellness Centers to Enhance Product Reach

Prominent industry players enter collaborations with wellness centers and spas to increase the reach of their products and attract new clients. The therapy finds increasing application in the areas of stress reduction and pain management. These steps are also being undertaken by companies to strengthen their industry positions.

Key Industry Development:

October 2023 – ĒLYSCE announced the launch of a full line of high-quality essential oils and accessories made in the U.S. The move was focused on promoting the power of natural therapeutic services.