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.
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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.
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.
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Who are the Key Manufacturers and Suppliers of Ultrasonic Diffusers?
Leading manufacturers and suppliers include
- Auria
- Ellia
- 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.
Key Segments
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By Material Type
- Metal
- Plastic
- Wooden
- Ceramic
- Others
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By Tank Capacity
- Below 100 ml
- 100-400 ml
- Above 400 ml
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By Price Range
- Economical
- Medium
- Premium
-
By Application
- Residential
- Commercial
- Spa & Salon
-
By Sales Channel
- Offline
- Convenience Store
- Specialty Stores
- Super and Hyper Markets
- Others
- Online
- Company websites
- Third Party E-Commerce Sales
- Offline
-
By Region
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Argentina & Rest of Latin America
- Europe
- 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
- Oceania
- Australia and New Zealand
- Middle East and Africa
- GCC Countries, Turkey, South Africa, and Rest of Middle East & Africa
- North America
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