Mar 20, 2020
Aromatherapy Diffuser Market to Witness 2.2X Growth on Back of Favorable Regulations for Plant Cultivation Having Aromatic Properties, Finds Fact.MR
by Team Fact.MR
Support from the science community in propounding the benefits of aromatherapy on mental health has had a positive impact on aromatherapy diffuser market. The resultant prevalence of aromatherapy among millennial consumers drive demand for aromatherapy diffusers during the forecast period (2019-2029). Consumer trends such as meditation, and spa & salon services will heighten demand growth for aromatherapy diffusers. The global aromatherapy diffuser market will grow at a stellar growth rate of more than 8% through 2029. Apart from consumer trends, favorable statutory regulations on cultivation of plants emanating aromatic compounds is proving to be a boon for aromatherapy diffuser manufacturers.
Key Takeaways of Aromatherapy Diffuser Market Study
- Ultrasonic aromatherapy diffusers will grow two-fold during the forecast. Owing to its use of electricity and water as a transference mechanism, ultrasonic diffusers are projected to attract consumers through 2029.
- E-commerce distribution channels are set to exhibit stupendous growth with over 10% CAGR between 2019 and 2029. Convenience of availability and highly competitive discounts position e-commerce as the key channel for future growth opportunities.
- High net worth incomes are spurring growth in the residential applications of aromatherapy diffusers. The segment will grow more than two-folds on the back of surging adoption of aromatherapy in houses.
- APAC (East Asia and South Asia & Oceania) offer the most remunerative opportunities with a dexterous 9% CAGR through 2029. These regions cumulatively account for more than 1/3rd of the total market value.
“Aromatherapy is not as special as it was a few decades ago. Consumers are applying aromatherapy principles in the comfort of their homes. Market players must then innovate products that cater to residential use-cases. New fragrances will help differentiate products in the market and garner profitable revenues during the forecast period.” -Says Fact.MR Analyst
Consumer Awareness to Drive Market Growth
Keenness of consumers to experiment with aromatic compounds and essential oils will propel the growth of aromatherapy diffusers market in the foreseeable future. Hence, manufacturers are investing heavily in educational tactics, apprising consumers about the potential benefits of aromatherapy. Strategic partnerships between manufacturers and mental health organizations for awareness programs will benefit market players in the coming years. Research and development of pleasant fragrances will attract and engage aroma savvy consumers looking for mental relaxation. Marketing collaterals and digital campaigns will act as decisive factors in garnering revenues during the forecast period.
Find More Valuable Insights on Aromatherapy Diffusers Market
Fact.MR, in its new offering, brings to fore an unbiased analysis of the aromatherapy diffusers market, presenting historical demand data (2014-2018) and forecast statistics for the period, 2019-2029. The study divulges compelling insights on the aromatherapy diffusers market on the basis of product type (ultrasonic, nebulizers, evaporative, and heat), distribution channel (retailers, hypermarkets/supermarkets, e-commerce, and others), by application (residential, commercial, and spa & salon), and across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East & Africa).
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About the Retail and Consumer Goods Division at Fact.MR
Being a consortium of large number of sub-industries, not many market research companies are being able to fulfil the requirements of consumer product clients. Though, Fact.MR retail and consumer goods analysts at Fact.MR have been categorically tracking the broader sub-industries to keep themselves abreast of the recent happenings in the market. Our practical approach to product design and pricing strategy contributes to the growth of businesses that are struggling to hit the ‘move-the-needle’ bottom line. With unmatched analytical diligence, the team at Fact.MR helps organizations design product differentiation strategies and introduce exclusive product(s) to their existing portfolio. For more consumer goods domain expertise, visit here.