The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
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.
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 d?TERRA 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.
Further key findings from the report suggest:
- Ultrasonic diffusers emerged as the largest product segment in 2019 owing to the ability of the product, to retain the therapeutic properties of essential oils and create a pleasing ambience
- Nebulizer is expected to be the fastest growing product segment over the forecast period, owing to technological advancements and enhanced diffusion offered by the product without losing the therapeutic value of essential oils
- Rising preference for natural ingredients for the treatment of anxiety, stress, and depression has led to an increased consumption of essential oils in North America; driving the diffusers penetration across medical and healthcare sector
- Europe aromatherapy diffusers market is projected to expand at a CAGR of 9.1% during the forecast period owing to rising demand for natural and organic cosmetics, medicines, and nutraceuticals
- A large and unregulated domestic market is present in Asia Pacific and the Middle East, which 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