Our in-depth analysis of the aromatherapy diffuser market includes the following segments:
By Product Type
Geographically, the aromatherapy diffuser market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
The aromatherapy diffuser market is estimated to stand predominant in North America in terms of revenue, owing to the accessibility of several types of diffusers and increasing consumption of aromatherapy among individuals in the region. Many essential oil making companies are situated in the U.S., it also contributes towards the growth of the aromatherapy diffuser market.
The European aromatherapy diffuser market is expected to witness significant growth over the forecast period owing to health concerned consumers, which is making them take more responsibility for their health and assimilating mental and physical well-being.
Aromatherapy has a huge prevalence in the Asia Pacific region, which makes it the most lucrative region, thus further projected to witness the fastest growth during the forecast period. This is attributed to the huge presence of unregulated markets in growing economies, predominantly in China, growing usage of diffusers among households, expanding health & wellness business in countries such as India, Japan, & China, leading to increased demand for essential oils in aromatherapy, and rising disposable among the citizens of this region.
Aromatherapy forms an important part of the natural therapies in Arabia and includes oil obtained from many healing plants originated in the traditional markets of the Middle East and Africa, which, in turn, anticipated to drive the regional product demand in these regions over the forecast period.
The aromatherapy diffuser market is further classified based on region as follows:
The aromatherapy diffuser market is expected to observe an attainable high CAGR during the forecast period, i.e., 2020-2028. The market is segmented by product type, technology, application, distribution, and region. Among the technology, the ultrasonic diffuser segment is expected to dominate the overall aromatherapy diffuser market on account of its property to maintain the therapeutic properties of essential oils and creating a pleasing atmosphere. Ultrasonic diffusers use electronic frequencies to produce vibrations in the water, that break down the essential oil into tiny microparticles, thus, dispersing the oil in a fine mist. Based on the technology, the nebulizing diffusers segment is the fastest-growing segment as a result of its effectiveness in diffusing in large rooms, without dropping the therapeutic properties of the oils they contain. Evaporative diffusers are basic categories of diffusers that have a simple process compared to ultrasonic diffusers. Heat diffusers are one of the oldest systems of diffusers, where candles or electricity is used to produce heat and diffuse essential oils into the atmosphere. The segment accounts for a small market share owing to the convenience of efficient alternatives.
Numerous health benefits associated with aromatherapy diffusion
The climbing demand for aromatherapy diffusers for mental health such as problems of stress, depression, and anxiety relief, especially among millennials, is projected to drive the aromatherapy diffuser market globally. Unless consumed orally or applied directly on the skin, inhalation of essential oils through aroma diffusers has no direct side effects. Aromatherapy is evolving as an alternative medicine way out using essential oils to modify the mood, mind, and health of an individual. CLICK TO DOWNLOAD SAMPLE REPORT
Growing inclination towards natural therapy is also acting as a key factor to boost the market demand for aromatherapy. Owing to a busy lifestyle together with increasing work pressure is giving rise to chronic ailments and insomnia among individuals. Aromatherapy offers a natural, easy, less expensive solution to this problem and drives the growth of the aromatherapy diffuser market.
Furthermore, it is also considered to deliver respiratory, disinfection, decongestant, and psychological benefits. These helpful effects of aromatherapy on both the immune system and the central nervous system of individuals are the driving factors for the growth of this market.
Growing awareness about aromatherapy and its paybacks
The aromatherapy diffuser sector and the essential oils sector is flourishing globally. Demand for aroma diffusers is likely to rise as a result of rising awareness about aromatherapy among consumers which has also led to the availability of the various type of essential oils or candles as per customer need leading to customization. These factors are attributed to the market growth of aromatherapy diffusers globally.
Capital cost for aromatherapy diffuser manufacturing is in elevation henceforth, the companies have been outsourcing their manufacturing to countries, such as China and India with economical labor and raw materials availability, and that might put a hindrance on the global aromatherapy diffusers' market growth.
Ecosystem reduction as a result of extensive extraction of essential oils in addition to rising environmental distress regarding the disposal of plastic and glass used for manufacturing the diffusers is projected to impede the market growth over the forecast period. In order to overcome such challenges, the market is trying to shift its focus toward developing environment-friendly products using bio-based BPA-free plastics.
Unregulated market presence
The incidence of a big, unregulated domestic market in the Asia Pacific and the Middle East regions, has been surfacing as a threat to major multinational corporations, in terms of the accessibility of low-cost technology which creates a price gap in the global market.
Furthermore, the restricted availability of raw materials such as essential oils and strict laws concerning harvesting and cultivation are also reflected as restraining factors for the aromatherapy diffuser market.
April 10, 2020: NOW Heath Group has joined the PETA’s Beauty Without Bunnies program to assist customers in quickly recognizing that all NOW® Solutions' personal care products and essential oils are cruelty-free as NOW has a company-wide ban on animal testing.
September 3, 2019: NOW® Foods, a leader in the natural products industry, welcomed a new addition to the family by acquiring the SuperNutrition supplement company, which offers a unique brand of multi-vitamins, as of September 3, 2019.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.