Ultrasonic Diffusers Market Forecast and CAGR
According to the latest research study by Fact.MR, ultrasonic diffusers business is anticipated to grow at a CAGR of over 8.2% during 2021-2031. These diffusers are gaining high demand in the consumer electronics business. The growing inclination of people towards essential oils owing to multitude benefits has led to increasing demand for its diffusers.
In 2020, the COVID-19 pandemic has significantly disrupted the sales in the market. Business of these diffusers is now in the recovery phase. By the end of Q4 2021, the sales of the product is anticipated to get back on track, from Q1 of 2022 it will grow at a rate of 2X till the end of 2031.
What is Driving Demand for Ultrasonic Diffusers?
The demand for aromatic diffusers is significantly increasing across the globe owing to the higher adoption of essential oils for aromatherapy.
There are four different types of diffusers, nebulizer diffusers, ultrasonic diffusers, evaporator diffusers, and heat type diffusers. Out of all these ultrasonic is the one which has higher demand in the market.
The demand for ultrasonic diffusers is due to myriad benefits associated with it such as they are economically feasible than all the other diffusers. In addition, they require no water for the diffusion process and the intake of essential oils is very less.
Also, this diffuser makes no noise while working and thus, it is can be used during the time of meditation. Owing to all these factors the demand for ultrasonic diffusers is gaining high traffic in the market, which is, in turn, creating higher demand for them.
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Growth in Essential Oils Industry are Likely to Bolster Sales in the Market
The essential oils industry is anticipated to surpass US$ 27 Bn by 2025. This is primarily due to increasing purchasing of essential oils by end uses for aromatherapy. It is believed that inhaling essential oils scents can control ones anxiety and overthinking.
In addition, according to some scholars spreading essential oils scent in the works space and living areas brings positivity, which also helps in enhancing a person thinking ability and improves health.
These benefits of essential oil are driving its sales and this factor is significantly affecting the sales in the ultrasonic diffusers business. In the coming years, higher adoption of essential oils by people is set to bolster demand in the ultrasonic diffuser business.
North America Ultrasonic Diffusers Market Outlook
The North America accounts for more than 25% of the global diffusers business share. Historically (2016-2020) the regional sales of diffuser grew at a CAGR of over 8.4%.
The US is major growth contributor in the region accounting for near about 70% of the demand. The increased application of diffusers by the spas in the country has projected such a share.
According to International Spa Association (ISPA) in 2019 the US spa industry surpassed over US$ 18.3 Billion. The growth in this is attributed to busy lifestyle and increasing per capita expenditure on personal care by the people.
This has led to more number visiting to spa for relaxation to get relief from stress. Owing to this total number of spas in the region have significantly increased in the region in the past decade.
Furthermore, the total number of spa in Canada is also anticipated to grow at a higher rate and will support the ultrasonic diffuser business.
It is estimated that the regional sales of these diffusers are anticipated to grow at a rate of 2.0X in the next 10 years. Further factors such as growth in essential oil usage and introduction of newer product variety will affect the sales of the product.
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Asia Pacific Demand Outlook for Ultrasonic Diffusers
The Asia Pacific is one of the prominent region for ultrasonic diffusers business. In 2020, the region accounted for over 55% of the global product demand. Countries such as China and South Korea have been the major demand driver in the region.
These countries have higher number of spas and salon, which are responsible for higher sales of the product. In addition, the purchase of ultrasonic diffusers for the residential usage here is also high.
In 2020, the residential usage of this product in the region projected a value share of near about 30%, which is anticipated to be all time high.
The total suppliers and manufacturers in the region are high in number. The regional competition for the product is very high, with most of the key players selling their product in combo packs at discounted price.
New players entering in this business are establishing long-term partnership with beauty salon and spa, allowing them to gain continuous business opportunities.
The COVID-19 had significant impact on the regional diffusers business. With majority of it end-use areas being shut-off the demand for the product had experienced a dip in the overall sales in 2020. Currently the business is recovering, and will get fully recovered by Q4 of 2021.
Who are the Key Manufacturers and Suppliers of Ultrasonic Diffusers?
Leading manufacturers and suppliers include
- EO Products
- GreenAir Inc
- Helias LLC
- Hubmar International
- Neal’s Yard Limited
- NOW Foods, Pilgrim Collection
- Ryohin Keikaku Co.Ltd (Muji)
- Stadler Aktiengesellschaft
- Young Living and other prominent players.
The competitive landscape of the business is fragmented in nature and the competition here is very high. Key players in the business are focusing on practicing organic strategy such as product launch and are introducing newer product variety with improved design and capacity.
With the ongoing pandemic the product sales in e-commerce website have experienced a boom owing to which the market players started extensively investing in strengthening their online presence. It is easy for new comers to enter in this business provided the product with which it is entering should be unique, in order to survive in the market.
An Adaptive Approach to Modern-day Research Needs
Ultrasonic Diffusers Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
By Material Type
By Tank Capacity
- Below 100 ml
- 100-400 ml
- Above 400 ml
By Price Range
- Spa & Salon
By Sales Channel
- Convenience Store
- Specialty Stores
- Super and Hyper Markets
- Company websites
- Third Party E-Commerce Sales
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Argentina & Rest of Latin America
- Germany, France, Italy, Spain, U.K., Benelux, Russia, and Rest of Europe
- East Asia
- China, Japan, South Korea
- South Asia
- India, Thailand, Malaysia, Indonesia and Rest of South Asia
- Australia and New Zealand
- Middle East and Africa
- GCC Countries, Turkey, South Africa, and Rest of Middle East & Africa
- North America
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE: All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of FACT.MR.
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