The aromatherapy carrier oil market size is estimated to expand at a high CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increase in preference for plant extracted products.
Aromatherapy carrier oil, also known as vegetable oil, is added to dilute essential oils that are used for aromatherapy and massage. They have no scent by nature but can produce a concentration of aroma when mixing with essential oils and act to carry essential oil onto the skin when evaporated. Carrier oils are pressed and extracted from plants using several processes. They are widely adopted for various applications across industries as they possess natural healing and nutritional characters and are used as substitutes to pharmaceutical products for instance medicated topical tablets and products. Aromatherapy is considered as a major substitute to medical therapy that helps in diagnosis of various health conditions including skin-related problems, cardiovascular disorders, digestive disorders, immune disorders, insomnia, respiratory disorders, anxiety, wounds, and pain.
With rising income of consumers, preference for natural products in the form of moisturizers, creams & soaps for skin care are rapidly rising. Carrier oils are derived from natural sources such as plants; however, their availability is limited. Various players are extensively engaged in large scale population of these oils as it has less adverse reactions and effects as compared to harmful chemical products.
Key Players Covered in the Report
Rocky Mountain Oils; Edens Garden; Falcon Essential Oils; Moksha Lifestyle Products; Plant Therapy Essential Oils; and FLORIHANA.
Market Segment Insights
Based on applications, the global aromatherapy carrier oil market is divided into cosmetic, personal care, food & beverages, and medical. The cosmetic segment is further bifurcated into skin care and others while the personal care segment is sub-divided into household and soap. Additionally, the medical segment is further segregated into pain management, cold & cough, and others. The cosmetic segment accounted for a key share of the market in 2020 and is expected to grow at a rapid pace in the coming years owing to rising incidences of skin problems and large spending for cosmetic products especially among women. However, the medical segment is anticipated to exhibit a high CAGR during the forecast period due to increase in acceptance of these oils for medical use.
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In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is anticipated to constitute a key share of the market in the coming years owing to the wide awareness about advantages of the therapy. On the other hand, the market of Asia Pacific is anticipated to amplify the growth rate at a robust pace during the forecast period due to rise in incidences of skin problems and increasing preference for natural products in the region.
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