Aromatherapy refers to a type of alternative medicine in which naturally extracted aromatic essence are utilized to harmonize, balance, and promote the physical and mental health of patients. It is used as a supplemental medicine for the treatment of chronic stress or anxiety, depression, skin problems, fatigue, respiratory infections, digestive upset and others. The global aromatherapy market size is growing at a decent rate since the past few years and it is projected to maintain the growth rate during the forecast period as well.
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The aromatherapy essential oils due to their several benefits have emerged as a natural solution for treating various health conditions. Also, the demand of these essential oils for use at-home has increased, as visiting a spa or beauty clinic is costlier than purchasing essential oils. Aromatherapy helps in reducing therapy cost, as it has common application procedures such as topical and inhalation. People are more comfortable to use these oils at-home according to their schedule. Privacy concern of consumers has also shifted their preference towards use of essential oils at-home. Various essential oils such as ginger, eucalyptus, lavender, peppermint is most commonly used at-home for relaxation and sleep, cold and flu and pain relief. Thus, increasing preference of consumers for use of aromatherapy products at-home is fueling the growth of the global market.
Although, aromatherapy market has been growing in many countries, because of its qualitative approach for the treatment, the market is faced by some stringent regulations in some regions which impede the growth of the overall market. For instance, in 2014, Young Living Essential Oils was targeted by USFDA because its aromatherapy and essential oils were incorrectly labelled and marketed. In particular, the company failed to follow USFDA guidance and regulations applicable to cosmetic products, and instead labelled their products for conditions that caused the products to be deemed unapproved drugs by the Agency. Thus, it is important for marketers and sellers of aromatherapy and essential oil products to understand and comply with regulations in the region where the company is operating, thereby making it difficult for them to launch new products.
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Some of the key players operating in the aromatherapy industry are Young Living Essential Oils, dÅTERRA International LLC, Edens Garden, Mountain Rose Herbs, Frontier Co-op and Rocky Mountain Oils LLC.
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