Huge Growth Expected in Aromatherapy Market in Future
According to a P&S Intelligence report, the global aromatherapy market is predicted to attain a revenue of $2,343.0 million by 2025, increasing from $1,152.8 million in 2017, exhibiting a 9.4% CAGR during the forecast period (2018–2025).
By: P&S Intelligence
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Among all these, the topical application classification dominated the market in 2017, due to the rising application of aromatherapy oils for several skin-related problems. These oils can be dilutes in carrier oil or cream for application on the afflicted areas of the body. On the basis of application, the market is categorized into scar management, relaxation, insomnia, cold and cough, pain management, and skin & hair care. Out of these, the relaxation category accounted to the largest share of the market in the past, owing to the rising prevalence of anxiety and stress among people.
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Other than this, the awareness regarding the benefits of essential oils is also expected to result in the growth of the aromatherapy market during the forecast period. Essential oils are non-toxic in nature and are safe for both topical use and inhalation, as they are extracted from natural sources and are also processed naturally. People are further becoming aware regarding the therapeutic use of these oils, owing to which are adopting them increasingly. The negative effective of pharmaceutical products is also compelling people to look for natural products, thereby resulting in the growth of the industry.
In conclusion, the demand for aromatherapy is growing due to the increasing awareness regarding essential oils and rising disposable income of people.