Market Research Report
North America Aromatherapy Market Research Report: By Product, Mode of Delivery, Application, Distribution Channel, End User - Industry Analysis and Growth Forecast to 2030
|Published by||Prescient & Strategic Intelligence Private Limited||Product code||992000|
|Published||Content info||220 Pages
Delivery time: 2-3 business days
|North America Aromatherapy Market Research Report: By Product, Mode of Delivery, Application, Distribution Channel, End User - Industry Analysis and Growth Forecast to 2030|
|Published: November 1, 2020||Content info: 220 Pages||
North America Aromatherapy Market Research Report: By Product (Consumables, Equipment), Mode of Delivery (Topical Application, Aerial Diffusion, Direct Inhalation), Application (Relaxation, Skin and Hair Care, Pain Management, Cold and Cough, Insomnia, Scar Management), Distribution Channel (Direct, Indirect), End User (Beauty Spas, Homes and Offices, Hospitals and Clinics) - Industry Analysis and Growth Forecast to 2030.
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.
Between the two, the consumables division is projected to grow at a faster pace during the forecast period, owing to the launch of new products by players in the market and expanding essential oil market. For example, Young Living Essential Oils made an announcement regarding a series of new products, such as beautiful diffuser, new skincare line, Savvy Minerals makeup line, advanced essential oil-infused wearable ring for improving family, home, and skin-care, and new essential oil blends, in August 2020.
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.