How much will the Aromatherapy Diffusers industry be worth in the Future????Posted by Mrudula Anil Karmarkar on December 8th, 2020 The global aromatherapy diffusers market size is anticipated to reach USD 3.22 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to exhibit a CAGR of 9.2% in terms of revenue, over the forecast period. The numerous health benefits associated with essential oils are projected to fuel the growth. Rising demand for aromatherapy diffusers at homes, commercial spaces, and hotels is expected to further fuel the product demand. The sudden rise of COVID-19 to a pandemic level has severely impacted the demand patterns of cosmetics and also certain categories of personal care products. Furthermore, policies across the globe restricting the movement of people have also led to disruptions in the supply of personal care products. The availability of e-commerce platforms during these times has, however, offset the disruptions caused in the last-mile supply of customer purchases. From manufacturing stand, production stoppages due to the pandemic shall cast considerable stress on operational costs. The report will account for Covid19 as a key market contributor. Increasing awareness regarding the key benefits of aromatherapy including reduction in stress relief, depression, and anxiety, particularly in the emerging markets is anticipated to boost the product demand. In addition, positive outlook of the global essential oils market coupled with versatile properties to heal different types of diseases has led to the increased consumption of aromatherapy diffusers. Increasing consumer spending on spa vacations and treatments is expected to boost the demand for aromatherapy diffusers. Several other end-users areas include households, workspaces, and vehicles that utilize diffusers that release fragrant oils to create soothing olfactory ambiance. Key players operating in the market include Young Living Essential Oils, NOW Foods, and dōTERRA International. These companies have evolved to become the major players in essential oils production. Moreover, with an aim to serve a larger customer base, they are trying to expand their product portfolio by focusing on developing newer accessories suiting the consumer needs. Aromatherapy Diffusers Market Report Highlights
Rising awareness, particularly in the developed economies, regarding various benefits of aromatherapy for stress, depression, and anxiety relief, is anticipated to boost the demand for various kinds of diffusers. Inhalation of essential oils through diffusers has no direct side effects unless consumed orally or applied directly on skin. This factor acts as a major growth driver for the market. The U.S. occupies majority share of the North America market. Ultrasonic diffusers and nebulizers are the widely used equipment by the therapists in this region owing to the capability of the products to preserve the therapeutic contents of the oils. Additionally, the favorable law and regulations for the cultivation of essential oil crops is expected to boost the regional product demand in the forthcoming years. Ecosystem depletion on account of extensive extraction of essential oils coupled with growing environmental concerns regarding the disposal of plastic and glass used for manufacturing the diffusers is expected to hinder the market growth over the forecast period. In order to overcome such challenges, the market has shifted its focus toward developing environment-friendly products using bio-based BPA-free plastics. Have a Query? Ask Our Expert: https://www.grandviewresearch.com/inquiry/4609/ibb Increasing need for relaxing and pleasantly aromatic ambiances at offices is likely to positively influence the number of products in the market. The expansion of end-use industries in emerging markets has also played a role in propelling the growth. However, the limited availability of raw materials such as essential oils and stringent laws in contradiction of harvesting and cultivation is considered to be restraining factors for the aromatherapy diffusers market. Capital cost for aromatherapy diffuser manufacturing is high hence companies have been outsourcing their production to countries, such as China and India with inexpensive labor and raw materials. Moreover, presence of a large, unregulated domestic market in Asia Pacific and Middle East, has been posing a threat to major multinational corporations, in terms of the low-cost technology offered, creating a price gap in the global market. Grand View Research has segmented the global aromatherapy diffusers market on the basis of product, distribution channel, application: Aromatherapy Diffusers Product Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2027)
Aromatherapy Diffusers Distribution Channel Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2027)
Aromatherapy Diffusers Application Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2027)
About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Like it? Share it! More by this author |