The aromatherapy market - Italy

Aromatherapy refers to the use of essential oils for medicinal purposes. Thus, this market operates at the intersection of the essential oils market and phytotherapy, a discipline that consists of the practice of medicine based on the natural active ingredients of plants. Undoubtedly fashionable, the global aromatherapy market is growing rapidly and is expected to follow a compound annual growth rate (CAGR) through 2026 of 7.7%, driven by increased interest and experimentation on both the demand and supply sides of alternative medical remedies - in which essential oils themselves are included, some of which are used for lack of sleep, digestive problems or respiratory disorders, for example. The European market has developed in recent years thanks to the birth and entry into the market of some large operators, who are gaining ground in international territories, including Italy. The Italian market seems to be slowly entering the growth phase, but remains a small area in the broader context of healthcare and medicine. However, the supply side is gearing up to meet a growing consumer demand, placing the country in 2017 among the top 5 producers of the main market-defining raw material: essential oils. These are gradually becoming available in the various distribution channels (e.g. pharmacies, para pharmacies, supermarkets), and as a result are increasingly revealing themselves to consumers as a common good not limited to specialty stores. In addition, the research and development expenditures allocated to the sector by both multinationals, professionals and small, innovative start-ups represent the driving force behind the expected market potential.