NEW YORK, May 18, 2018 (GLOBE NEWSWIRE) — According to the market research report published by P&S Market Research, global aromatherapy market is expected to attain revenue of $2.3 billion by 2025, the market is mainly driven by rising awareness about the therapeutic use of essential oils, increasing consumer preference toward natural products, growing use of aromatherapy at-home, and increasing prevalence of lifestyle diseases.
Among all products, the demand for consumables is expected to exhibit faster growth in the aromatherapy market, witnessing a CAGR of 10.1% during the forecast period. This growth is mainly attributable to the increasing adoption of consumables such as essential oils as therapeutic agents for treating various disease conditions.
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The market for aromatherapy in topical application is expected to witness fastest growth at a CAGR of 9.8% during the forecast period, as essential oils can be diluted in a cream or carrier oil and applied as required to the concerned area of the body.
The global market is projected to witness the fastest growth in the relaxation application area, recording a CAGR of 10.8% during the forecast period, mainly due to the increasing number of people suffering from anxiety and stress.
North America leads the aromatherapy market with the largest revenue share of 43.6%, in 2017, due to the well-established healthcare system and high healthcare spending in developed countries, such as the U.S. High awareness about the advantages of alternative therapies also aids in growth of the regional market.
Furthermore, majority of the key players in aromatherapy market are located in the U.S. Companies such as, dōTERRA International LLC, Young Living Essential Oils, and Frontier Natural Products Co-op are based in the U.S. and have extensive product portfolios.
According to the North American Free Trade Agreement (NAFTA) and U.S. Agriculture, essential oils are the main exported products by the U.S. Department of Agriculture to Canada in 2016. This kind of trading in North American region leads to rising awareness about aromatherapy. High purchasing power is also a significant factor driving the growth of aromatherapy market in this region.
Browse report overview with 301 tables and 22 figures spread through 231 pages and detailed TOC on “Aromatherapy Market”at: https://www.psmarketresearch.com/market-analysis/aromatherapy-market
In order to increase the market share, key players in the aromatherapy industry are developing and introducing new products. For instance, in April 2018, Plant Therapy Essential Oils launched an exclusive and limited edition of Mother’s Day set, Dear Mom set. This set includes various products that complete the need of mothers, for relaxing and unwinding. Additionally, it includes Forever Mom synergy blend to promote relaxation and reduces tensions and worries.
In March 2018, Plant Therapy Essential Oils launched three new essentials oils, Bergamot Mint, Caraway Seed CO2, and Cubeb, to expand their extensive line of pure and natural essential oils. The company added these exclusive products, which are expected to delight customers with more options related to these products.
Some of the other key players operating in the aromatherapy industry are dōTERRA International LLC, Young Living Essential Oils, Mountain Rose Herbs, Edens Garden, Rocky Mountain Oils LLC and Frontier Co-op.
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