The growing incidence of lifestyle-associated diseases and the increasing public awareness about the therapeutic benefits of essential oils are the two major factors causing the surge of the global aromatherapy market.
Furthermore, the rising consumer preference for natural products over the conventionally used chemical-based ones and the increasing utilization of aromatherapy at-home are significantly augmenting the progress of the market across the world. As a result, the market is predicted to register substantial growth in the forthcoming years.
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The increasing disposable income of the people is boosting the sales of essential oils around the world. Essential oils such as eucalyptus, clary sage, and ginger oil are used as decongestants and pain relievers and assist in digestion respectively, as per the Holistic Aromatherapy Association (HAA). As per the findings of the Organization for Economic Co-operation and Development (OECD), the household disposable incomes in Denmark and Germany grew from 1.2% and 1.6% in 2014 to 2.8% and 2.5% in 2016 respectively.
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Depending on product, the market is bifurcated into equipment and consumables. The consumables bifurcation is predicted to exhibit swift growth in the market in the future years. This is because of the surging utilization of various consumables such as essential oils, which are extensively used for treating various types of pain and other ailments. These oils encourage natural healing and are thus, being extensively used in place of many conventional medical procedures across the world.
In the near future, the Asia-Pacific aromatherapy market will exhibit rapid expansion, as per the estimates of the market research firm, P&S Intelligence. This is ascribed to the growing awareness amongst the masses about the various benefits offered by aromatherapy in the treatment of different ailments and health conditions and the large-scale production of essential oils in several APAC countries. In addition to this, the presence of a thriving medical tourism industry in Japan and India is further propelling the advancement of the market in this region.
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This release was published on openPR.