The Worldwide Aromatherapy Market research report is growing with the rapid pace; mainly due the burgeoning Healthcare Sector. According to a recent study report published by the Market Research Future, The World Aromatherapy Industry Research report is booming and expected to gain prominence over the forecast period. The Market is forecasted to demonstrate a huge growth by 2023, surpassing its previous growth records in terms of value & volume. Considering all these factors The World Aromatherapy Market research report is expected to reach $ 4.3 Billion by the end of 2023, this market is projected to growing at a CAGR of ~ 6.18% during (2017-2023).
Market Research Future published new report, titled “Aromatherapy Market -Research Report: Global Forecast to 2023”.
The Worldwide Aromatherapy Market report explores the Top Key Players in-depth analysis as Nu Skin, Air Aroma, Muji, Tree of Life, Young Living, Zija International, dōTERRA, NOW Foods, Neal’s Yard Remedies and others.
Market Synopsis of Global Aromatherapy Market:
Aromatherapy uses aromatic oils, and other aroma compounds for improving psychological or physical well-being.
The market for aroma therapy is rising due to factors such as large number of people opting for aromatherapy, growing lifestyle industry, non-invasive nature of aromatherapy etc. The modern lifestyle has ushered problems such as sleep disturbances, stress etc. which has inflated the market. Also many essential oils can increase immunity, combat cold and breathing disorders.
The market restraints include increasing stringency of regulations such as indications which a market player has to provide. For example, market players need to mention whether the particular essential oil falls under therapeutic grade or cosmetic grade.
Lack of proper guidelines and toxic nature of essential oils is another barrier. For example, Cineole essential oil is poisonous above the recommended dose and an overdose may cause symptoms such as epigastric burning, nausea, vomiting, dizziness, muscular weakness, rapid heartbeat, feeling of suffocation etc. Also there is no good medical evidence that aromatherapy prevents or cures disease.
The Global Aromatherapy Market is segmented on the basis of product. Based on the product, the market has been segmented as essential oils, equipment, and application and by therapeutic application. The essential oils segment is sub segmented into floral, citrus, green/vegetative, herbaceous/camphoraceous, and spicy and others. The equipment segment is sub segmented into nebulizer diffuser, ultrasonic diffuser and heat diffuser. The application segment is sub segmented into tropical, inhalation and aerial diffusion. The therapeutic application segment is sub segmented into relaxation and sleep, pain management, skin and hair care, and other remedies.
US accounts for the maximum market share due to high per capita disposable income and greater expenditure on healthcare. Europe is the second largest market due to large disposable income and presence of large hospitals. The European market will be led by France followed by Germany. Asia pacific region will be the fastest region because of large unmet needs which will be led by China and India. The Middle East and Africa market will be led by the gulf nations particularly Saudi Arabia and UAE. The poor regions of Africa is expected to be a laggard due to poor economic and political conditions.
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Table of Contents
1.2 Scope of Study
1.2.1 Research Objective
1.2.2 Assumptions & Limitations
1.3 Market Structure:
2 Research Methodology
2.1 Research Process:
2.2 Primary Research
2.3 Secondary Research:
3 Market Dynamics
3.4 Macroeconomic Indicators
4 Market Factor Analysis
4.1 Porters Five Forces Model
4.2 Bargaining Power of Suppliers
4.3 Bargaining Power of Buyers
4.4 Threat of New Entrants
4.5 Threat of Substitutes
4.6 Intensity of Rivalry
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