North America Aromatherapy Market Overview
The North American aromatherapy market generated $714.4 million revenue in 2018, and is expected to grow at a CAGR of 7.2% during the forecast period. This growth can be attributed to the rising consumer preference toward natural products; increasing disposable income; and surging prevalence of lifestyle and skin diseases in the region.
Aromatherapy involves the use of oils, which are naturally extracted aromatic essences. These are used to harmonize, balance, and promote physical and mental health of patients. Aromatherapy is used as a supplementary method for the treatment of conditions, such as depression; skin problems, like chronic stress or anxiety; digestive upset; fatigue; and respiratory infections.
The products in the North American aromatherapy market are categorized as consumables and equipment. Of these, consumables held larger share, of 78.6%, in 2018 in the market, mainly on account of their recurrent use during the process of aromatherapy.
Consumables are further bifurcated into essential and carrier oils. Between these two, the former held more than 70.0% share in 2018, in the North American aromatherapy market. This can be ascribed to higher uptake of essential oils than carrier oils in the market.
Singles and blends are the two types of essential oils available in the North American aromatherapy market. Singles had been larger revenue generating category, with 58.7% market share in 2018. These oils are known to provide more effective results as compared to blends, making them the dominant category in the market.
Furthermore, singles are classified into various categories, such as floral, citrus, herbaceous, camphoraceous, mint, earthy, spicy, woody, and others. Amongst these, floral, citrus, and herbaceous are the top three revenue generating categories in the North American aromatherapy market. Out of these, floral is predicted to be the fastest growing category in the market, recording a CAGR of 9.9% during the forecast period. This can be attributed to its various benefits, including anxiety reduction, improvement of brain function, pain relief, and restoration of skin complexion.
Additionally, the chamomile oils category is expected to exhibit the fastest growth in the North American herbaceous singles essential oil market, due to its properties of disorder management like depression and anxiety control, allergy relief, and heart-related conditions.
North America Aromatherapy Market Dynamics
Among various factors driving the growth of the North American aromatherapy market, rising disposable income plays a pivotal role in the market growth. According to the U.S. Bureau of Labor Statistics (BLS), there has been a surge in the U.S. populations’ disposable income. It had increased from $11,394 billion in 2006 to $15,928.7 billion in 2016, and is further expected to rise up to $24,174.5 billion by 2026. This growing disposable income provides greater buying power to the country’s population to spend more on several natural treatments, including aromatherapy.
Increasing prevalence of lifestyle diseases is another factor affecting the growth of the North American aromatherapy market. This can be substantiated from several facts. For instance, according to the Anxiety and Depression Association of America (ADAA), 18.1% of the Americans suffer from depression every year. Essential oils, such as grapefruit, lavender, and chamomile are effective for treating depression. Other than this, non-toxicity and natural aspect of essential oils and growing consumer preference for alternatives treatments due to no side-effects have a positive impact on the growth of the market.
Moreover, the prevalence of skin issues, such as reduced elasticity, excessive exposure to pollution and ultraviolet radiation, resulting in sunburns and hair loss, is another significant factor driving the North American aromatherapy market. Essential oils are effective in the treatment of these diseases and therefore, the prevalence of these issues pushes the aromatherapy market in North America.
North America Aromatherapy Market Competitive Landscape
doTERRA International LLC, Young Living Essential Oils, Edens Garden, Frontier Cooperative, Organic Aromas, Plant Therapy Essential Oils, Now Health Group Inc., HoMedics USA LLC, W.S. Badger Company Inc., and Mountain Rose Herbs are some prominent players in the North American aromatherapy market.
Other players in the market include Meivei Inc., Lisse Essentials, Ananda LLC, Scentsy Inc, VITRUVI, and Healing Natural Oils.