psalexa

North America Aromatherapy Market to Generate Revenue Worth $1,639.9 Million by 2030

Published Date:   November 2020

One of the major drivers responsible for the growth of the North American aromatherapy market is surging occurrence of skin diseases in the U.S. According to the American Academy of Dermatology, nearly 20 Americans die from melanoma (skin cancer) every day. In 2019, it was estimated that 7,230 deaths were attributed to melanoma — 4,740 men and 2,490 women. It has been reported that rose essential oil when used topically is helpful to manage acne, reduce signs of aging, minimize appearance of scars, and help in regaining skin elasticity. Due to this factor, the market size is expected to grow from $763.7 million in 2019 to $1,639.9 million by 2030, at a CAGR of 7.6% during the forecast period (2020–2030).

Consumables Category to Witness Faster Growth during the Forecast Period

The North American aromatherapy market is bifurcated into consumables and equipment, on the basis of product. Of these, the consumables category is expected to witness faster growth over the forecast period. This can be due to the new product launches by various players and ongoing advancement in the essential oil market. For instance, in August 2020, Young Living Essential Oils announced a series of new products, including new skincare line, Savvy Minerals makeup line, beautiful diffuser, new essential oil blends, and innovative essential oil-infused wearable ring, to improve home, family, and self-care.

The U.S. held larger share in the North American aromatherapy market in 2019, based on country. This is due to the presence of strong and well-established market players, rising number of beauty spas and hospitals offering aromatic therapy, and increased disposable income. Moreover, surging prevalence rate for physical and emotional symptoms of stress and anxiety and increasing adoption of homecare therapy sessions are expected to boost the market growth significantly in the country.

Due to COVID-19, many companies in North America have been affected in terms of production and export–import business. The companies took call for temporary shutdown of all their manufacturing plants and operations in the earlier months of 2020. Moreover, quarantines and partial closures of manufacturing sites have negatively impacted the demand and supply of aromatherapy products in North America. However, as businesses are reopening, it is expected that the aromatherapy industry would recover in coming time.

Key Players Launching New Products to Gain Competitive Advantage

Major players in the North American aromatherapy industry are consistently focusing on launching of new and advanced products, to stay ahead among competitors. For instance, in February 2019, Plant Therapy Essential Oils launched Balm Squad Set, a skin soother that can be applied directly on to the skin. It naturally nourishes the skin and provides relief from skin irritation and burning sensations. It penetrates the skin quickly and gives maximum benefits to guard the skin against damaging factors, such as ultraviolet (UV) radiations and harmful and toxic gases, including carbon monoxide, chlorine, nitrogen dioxide, and phosgene.

Similarly, in November 2018, doTERRA International LLC launched a new product known as Yarrow Pom, which is generally a mix up of cold-pressed pomegranate seed oil and yarrow essential oil. The essential oil acts as a contributor in metabolic growth and as an antioxidant, and also boosts the immune system.

Some the major players operating in the North American aromatherapy market are Young Living Essential Oils, Plant Therapy Essential Oils, doTERRA International LLC, Edens Garden, Rocky Mountain Oils LLC, Mountain Rose Herbs, Frontier Co-op (Aura Cacia), Organic Aromas, NOW Health Group Inc., W.S. Badger Company, HoMedics USA LLC, and Lionel Hitchen Limited.