One of the prominent factors driving the advancement of the North American aromatherapy market is the increasing prevalence of various skin diseases in the U.S. As per the American Academy of Dermatology, melanoma (skin cancer) claims the lives of around 20 Americans every day. The disease claimed the lives of as many as 7,230 people (2,490 women and 4,740 men) in 2019. Rose essential oils have been found to be very helpful for managing various skin problems.
These oils have been found to be very helpful for managing acne, reducing the signs of aging, helping the skin regain its elasticity, and minimizing the appearance of scars. Because of this reason, the popularity of aromatherapy is rising rapidly in North America. This is, in turn, causing the expansion of the North American aromatherapy market. The value of the market is predicted to surge from $763.7 million to $1,639.9 million from 2019 to 2030. Furthermore, the market is predicted to advance at a CAGR of 7.6% between 2020 and 2030.
The North American aromatherapy market is divided into equipment and consumables, depending on product. Between the two, the consumables category is predicted to exhibit higher growth rate in the market in the forthcoming years. This would be a result of the frequent product launches being made by various market players and rapid advancements in the essential oil industry. For example, a series of new products, including a brand-new skincare line called the Savvy Minerals makeup, various essential oil blends, an innovative essential oil-based wearable ring, and a beautiful diffuser was launched by Young Living Essential Oils in August 2020.
The North American aromatherapy market recorded huge growth in the U.S. in the years gone by. This was because of the existence of several well-established industry players, the increasing number of hospitals and beauty spas providing aromatherapy, and the surging disposable income of the people residing in the country. In addition to this, the growing incidence of emotional and physical symptoms of anxiety and stress and the rising popularity of homecare therapy sessions are predicted to further propel the growth of the market in the country in the coming years.
The COVID-19 pandemic has severely affected several aromatherapy organizations, especially those involved in export-import business and production, in North America. These companies announced the temporary shutdown of their production operations and plants in the beginning months of 2020 for reducing the spread of the coronavirus. Additionally, the partial shutting down of production sites and mandatory quarantines of employees have massively affected the supply and demand for aromatherapy items in the region. However, with the reopening of manufacturing units in some countries, the market is predicted to recover soon.
The major North American aromatherapy market players are increasingly focusing on launching advanced products in order to gain competitive edge over their rivals. For example, Balm Squad Set, which is a skin soother that can be directly applied on the skin, was launched by Plant Therapy Essential Oils in February 2019. This product provides relief from burning sensations and irritation and naturally nourishes and rejuvenates the skin.
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