Rising Disposable Income Driving North American Aromatherapy Market

The North American aromatherapy market is predicted to reach a value of $1,639.9 million, increasing from $763.7 million in 2019, progressing at a 7.6% CAGR during the forecast period (2020–2030), as per a report by P&S Intelligence. The market is growing due to the rising preference of consumers towards natural products, surging disposable income, increasing occurrence of skin diseases, and growing prevalence of lifestyle diseases. On the basis of product, the market is divided into equipment and consumables.

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The North American aromatherapy market is categorized into scar management, insomnia, cold & cough, pain management, skin & hair care, and relaxation, in terms of application. Among all these, the relaxation category is projected to advance at a significant pace during the forecast period, owing to the fact that the prevalence of anxiety, depression, and stress-related problems have been increasing in the region. As per the American Institute of Stress, approximately half of the total population in the U.S. suffer from stress daily.

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Geographically, the U.S. accounted for the largest share of the market during the forecast period (2014–2019), and it is further expected to dominate the market during the forecast period as well. This is due to the increasing disposable income, owing to which larger number of people are able to spend more money on their wellbeing and health. In addition to this, the expenditure in the healthcare sector in the country is also increasing, which, in turn, is driving the regional domain.

The increasing utilization of aromatherapy essential oils at home is a key trend that is being witnessed in the North American aromatherapy market. Aromatherapy essential oils are quickly emerging as a natural solution for treating several health conditions, owing to their different benefits. The demand for these products is further rising for home-use, as people are widely preferring to utilize these oils at home as per their own schedule. Moreover, spas and beauty clinics are becoming costlier for people to afford.

Hence, the market is growing due to the rising use of aromatherapy essential oils at home and increasing disposable income.

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