Essential Oil and Aromatherapy Market Size is Anticipated to Grow at a CAGR of 6.5% by Forecast to 2023, Predicts Market Research Future
July 26, 2019 - 8:32 AM EDT
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Essential Oil and Aromatherapy Market Size is Anticipated to Grow at a CAGR of 6.5% by Forecast to 2023, Predicts Market Research Future
Essential Oil and Aromatherapy Market Report Insights and Industry Analysis by Product-Type (Essential Oils, Blended Oils, Carrier Oils and others), Flavors (Fruits, Spices, Flowers, Herbs, Others), by Application (Food & Beverages, Medical, Personal Care (Cosmetics, Toiletries, Fragrances and others), Homecare, Spa & Wellness Products and others) and Region, Competitive Market Size, Share, Trends, and Forecast, 2018 – 2023
Pune, India, July 26, 2019 (GLOBE NEWSWIRE) -- Essential Oil and Aromatherapy Market Projected to grow at a CAGR of 6.5% during the Forecast period (2018-2023), reveals the latest report by Market Research Future (MRFR).
Market Analysis
Essential Oil and Aromatherapy Market involve the medicinal usage of plant and plant-derived products for various health and wellness purposes. Essential oils are used for the healing process and for promoting the psychological mindset of individuals. It is considered as one of the most important therapies for relaxation and has gained immense popularity and demand in recent years. This therapy is also combined with various other therapeutic practices for improving the therapy results. It is used for curing various health problems like burns, common cold, digestive problems, cough, acne, and others. The positive results attained from this treatment procedure has aided the global essential oils and aromatherapy market growth.
The high ratio of growth is because of the presence of several growth drivers. The healing qualities of essential oils can be termed as the biggest development factor. They can treat a variety of conditions like acne, menstrual issues & insomnia. Secondary growth drivers can be listed as increased Acceptance of Aromatic Skin Treatments, higher demand for Relaxation Therapies, Skincare Products, Drinks & Food Items.
Increased requirement of essential oils to formulate New Perfumes & Scents, Higher Income & Advancement in the industrial sector can be termed as additional growth drivers for the market. But what stays true is the fact that this market is bound to face obstacles that can hamper its development. Two major hindrances are expensiveness of the products & insufficient awareness regarding aromatherapy in the masses. Although, with time the market will overcome these obstacles.
The global Essential Oil & Aromatherapy Market has observed many advancements over the years. One of the most recent and most promising innovation is the introduction of emotional aromatherapy. This therapy has been formulated after extensive research and identifying the most soothing essential oils. This therapy directly affects the brain and can provide individuals with emotional stability.
Some of the Major Players of this industry include big names like Rocky Mountains, Ryohin Keikaku, doTerra & Mountain Rose Herbs. The two major strategies used by these companies to generate revenue are strategic partnerships and expansion of business.
March 29th, 2019, Blossom Kochhar Aroma Magic has most recently announced the launch of a new range of Help Me! Blended Curative Oils. The product is formulated with several blends of essential oils in order to promote “the art of healing and the essence of wellness.”
March 27th, 2019, Anjou, a company specializing in natural organic products, introduced the latest essential oil diffuser. It is the world’s first ever diffuser to offer constant and consistent aroma diffusion for close to 15 hours.
The flavors division comprises of spices, fruits, herbs & flowers.
On the basis applications, the Essential Oil and Aromatherapy Market is segmented into Personal Care, Medical, Homecare, Food & Drinks and Spa & Wellness Products. The personal care segment can be further divided into fragrances, cosmetics & toiletries. Out of all these the personal care portion holds a big chunk of the market share.
On account of Types, the industry is further branched into Carrier Oils, Essential Oils & Blended Oils. Amongst these, the essential oils section has proven its worth and grabbed the largest market share.
Regionally, the Essential Oil and Aromatherapy Market is separated into four distinct parts which include, North America, Europe, Asia-Pacific & Rest of the World.
Aromatherapy is a form of alternative therapy. This treatment is now being accepted as an effective therapeutic procedure across the globe. Owing to this fact the global essential oil & aromatherapy market is growing excessively.
Essential oils are an inseparable part of the entire aromatherapy procedure. This therapy uses the aromatic essential oils that have been derived from various parts of a plant. To ensure quality leaves, fruit, roots, flowers, seeds basically every portion of the plant is used. These oils have been designed to work in sync with the body and mind. They have many relaxing & healing properties.
A good aromatherapy can help an individual to relieve stress and relax the tensed muscles. It can also improve an individual’s sleep wake pattern. Furthermore, this therapy enables people to experience overall mental and physical wellbeing. overall, it can be concluded that aromatherapy is one of the most important relaxation techniques of the modern era.
Browse Related Report
Essential Oil Market Information by Type (Pure essential oil, Compound essential oil and others), Ingredients (Orange, Corn mint, Cedarwood, Eucalyptus, Chamomile, Lavender, Clary sage, Citronella, Litsea cubeba, Citrodora, Peppermint, Basil, Clover Leaf and others) and Application (Fragrance & Flavor, Aromatherapy, Pharmaceutical, Cosmetics and other) - Forecast to 2023 https://www.marketresearchfuture.com/reports/essential-oils-market-2024
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Source: GlobeNewswire PR
(July 26, 2019 - 8:32 AM EDT)
