Global Aromatherapy Market to Surpass US$ 8,756.1 Million by 2027, Says Coherent Market Insights (CMI)

SEATTLE--(BUSINESS WIRE)--According to Coherent Market Insights, the global aromatherapy market is estimated to be valued at US$ 5,042.3 million in 2020 and is expected to exhibit a CAGR of 8.2% during the forecast period (2020-2027).

Key Trends and Analysis of the Global Aromatherapy Market:

Key trends in the aromatherapy market include market players adopting multi-level or referral marketing strategy to penetrate the target market, which is expected drive the market growth over the forecast period. For instance, companies such as Young Living and doTerra are actively engaging their customers to sign up as distributors to increase the sales of their new products through multi-level marketing plan. In this MLM (multi-level marketing) strategy, the companies are providing membership incentives, rewards, and compensation plans.

Key Market Takeaways:

The global aromatherapy market is expected to exhibit a CAGR of 8.2% during the forecast period due to essential oil manufacturers focusing on expanding their aromatherapy product lines, which is expected to drive the global aromatherapy market growth over the forecast period. For instance, in September 2016, the Young Living Essential Oils company launched a new farm and distillery in British Columbia, Canada called The Northern Lights Farm to expand the production of essential oils.

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Among product type, consumables segment is estimated to hold a dominant position in the global aromatherapy market in 2020. The increasing research and development in the field of essential oils is expected to drive the segment growth in the global aromatherapy market during the forecast period. For instance, in May 2020, researchers from Università ‘Magna Græcia’ di Catanzaro, Italy investigated essential oils as a potential resource of new kinase inhibitors with a polypharmacological profile.

On the basis of application, skin & hair care is expected to account for largest market share in the global aromatherapy market over the forecast period. The increasing usage of aromatherapy for treatment of skin conditions such as age spots, wrinkles, skin lesions, and hair care treatment, is expected to drive the segment growth over the forecast period. For instance, according to the International Society of Aesthetic Plastic Surgery 2017, around 14% rise was reported in skin rejuvenation procedures worldwide in 2016 from 2015. According to same source, around 2,545,922 facial rejuvenation surgeries were conducted worldwide in 2016.

Competitive Landscape:

Key players operating in the global aromatherapy market include: 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.

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Market Segmentation:

• Global Aromatherapy Market, By Product Type:
  • Consumables
    • Essential Oils
      • Singles
        • Herbaceous
        • Woody
        • Spicy
        • Floral
        • Citrus
        • Earthy
        • Camphoraceous
        • Others
      • Blends
    • Carrier Oils
  • Equipment
    • Ultrasonic
    • Nebulizing
    • Evaporative
    • Heat
• Global Aromatherapy Market, By Application:
  • Skin & Hair Care
  • Pain Management
  • Insomnia
  • Boosting Immunity
  • Scar Management
  • Others
• Global Aromatherapy Market, By Mode of Delivery:
  • Topical Application
  • Aerial Diffusion
  • Direct Inhalation
• Global Aromatherapy Market, By Region:
  • North America
    • By Country
      • U.S.
      • Canada
  • Latin America
    • By Country
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
  • Europe
    • By Country
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Russia
      • Rest of Europe
  • Asia Pacific
    • By Country
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • ASEAN
      • Rest of Asia Pacific
  • Middle East
    • By Country
      • GCC
      • Israel
      • Rest of Middle East
  • Africa
    • By Country/Region
      • South Africa
      • Central Africa
      • North Africa

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.