Essential Oil & Aromatherapy Market Size, Share, Growth, and Industry Analysis, By Type (Essential Oils, Blended Oils, Carrier Oils, and Others.), By Application (Food & Beverages, Medical, Personal Care, Homecare, Spa & Wellness Products and Others), and Regional Forecast To 2031

Updated On: 22 April 2024

Essential Oil & Aromatherapy Market Report Overview

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global essential oil & aromatherapy market size was USD 11240 million in 2021 and market is projected to touch USD 16566.3 Million By 2031, exhibiting a CAGR of 3.9% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the essential oil & aromatherapy market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Essential oils are highly concentrated liquids extracted from plants. They are often used in aromatherapy, a complementary and alternative medicine (CAM) therapy that uses essential oils to promote health and well-being. Aromatherapy is based on the idea that the aromas of essential oils can interact with the body's limbic system, which is responsible for emotions, memory, and behavior.

There is some scientific evidence to support the use of essential oils for some of these benefits. For example, a study published in the journal "Evidence-Based Complementary and Alternative Medicine" found that lavender essential oil can help to reduce anxiety and improve sleep quality.

COVID-19 Impact

"Pandemic Increased the Market Demand"

The COVID-19 pandemic has had a significant impact on the essential oil & aromatherapy market share. The COVID-19 pandemic has led to an increased demand for essential oils for their potential health benefits. Essential oils are being used by people to help manage stress and anxiety, improve sleep, and boost the immune system. This is because essential oils have been shown to have calming, relaxing, and immune-boosting properties. The pandemic has also led to a surge in online sales of essential oils. This is because people have been less likely to go to brick-and-mortar stores during the pandemic. Online retailers have been able to take advantage of this trend by offering a wider variety of essential oil & aromatherapy products, as well as convenient delivery options. The pandemic has also led to new research on the potential health benefits of essential oils. For example, a study published in the journal "Frontiers in Immunology" found that lavender essential oil can help to reduce inflammation and improve immune function. This research is likely to further boost the demand for essential oils in the coming years.

Latest Trends

"Expanding applications of essential oils is expected to fuel the growth in the market"

Essential oils are being used in a wider range of applications, such as in food and beverage products, personal care products, and household cleaning products. This is expanding the market for essential oils. Essential oils are being used in a wider range of food and beverage products, such as candy, baked goods, beverages, and ice cream. This is because essential oils can add flavor, aroma, and other benefits to food products. For example, lavender essential oil can be used to add a floral flavor to candy, while peppermint essential oil can be used to add a cooling flavor to beverages. Essential oils are also being used in a wider range of personal care products, such as soaps, lotions, shampoos, and conditioners. This is because essential oils can add fragrance, skin benefits, and other benefits to personal care products.

Essential Oil & Aromatherapy Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into essential oils, blended oils, carrier oils, and others.

• By Application Analysis

Based on age, the market can be divided into food & beverages, medical, personal care, homecare, spa & wellness products and others

Driving Factors

"Growing demand for natural and organic products to foster the market growth"

Consumers are becoming more aware of the benefits of using natural and organic products. They are looking for products that are free of chemicals and synthetic fragrances, and that are good for their health and the environment. Governments around the world are increasingly regulating the use of chemicals in personal care products and household cleaning products. This is driving the demand for natural and organic alternatives. Many brands are now marketing their products as natural and organic, in order to appeal to consumers who are looking for these types of products. This is further driving the demand for natural and organic products.

"Increasing popularity of aromatherapy to result in the expansion of the market"

Aromatherapy is becoming increasingly popular as people are looking for alternative ways to manage stress and anxiety. Essential oils are often used in aromatherapy to promote relaxation and improve sleep. There is some evidence to suggest that essential oils can have a number of health benefits, such as reducing pain, improving circulation, and boosting the immune system. This is further driving the popularity of aromatherapy. Aromatherapy is a relatively affordable way to improve health and well-being. Essential oils can be purchased online or at most health food stores, and they can be used in a variety of ways, such as diffusing, massage, and topical application.

Restraining Factors

"High cost of essential oil & aromatherapy to hamper the market growth"

Essential oils are made from plants, and the process of extracting the oil from the plant can be expensive. This is because the plants need to be grown in specific climates and harvested at the right time. The demand for essential oil & aromatherapy has been increasing in recent years, which has driven up the price of essential oils. This is because there is a limited supply of essential oils, and the demand is outpacing the supply.

Essential Oil & Aromatherapy Market Regional Insights

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"Asia Pacific to lead the market owing to the increased research on the health benefits of essential oils." 

The Asia Pacific region has shown the highest essential oil & aromatherapy market growth. There has been a growing body of research on the health benefits of essential oil & aromatherapy. This research has shown that essential oil & aromatherapy can have a number of benefits, including reducing stress and anxiety, improving sleep, boosting the immune system, and reducing pain.

Key Industry Players

"Key players are employing advanced technologies in order to stimulate further growth of the market."

All the major players are motivated to offer superior and more advanced services in order to gain a competitive edge in the market. To increase their market presence, vendors are using a variety of techniques, including product launches, regional growth, strategic alliances, partnerships, mergers, and acquisitions.

List of Market Players Profiled

• G Baldwin - London, United Kingdom
• doTerra - Pleasant Grove, Utah, United States
• Rocky Mountains Oil - Not a well-known company, and I couldn't find specific headquarters information.
• Young Living Essential Oils - Lehi, Utah, United States
• Mountain Rose Herbs - Eugene, Oregon, United States
• Thann - Bangkok, Thailand
• Ryohin Keikaku - Tokyo, Japan

Report Coverage

This report examines an understanding of the essential oil & aromatherapy market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.