Global Fragrance Diffusing Device Market 2018-2022
About Fragrance Diffusing Device
A fragrance diffusing device is used to diffuse a constant scent in the air at residential and commercial places. It soaks up the essential oil added in the device and disperses a pleasant and soothing scent into the air. Such products are used to eliminate foul smell from the environment.
Technavio’s analysts forecast the global fragrance diffusing device market to grow at a CAGR of 9.65 % during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global fragrance diffusing device market for 2018-2022. To calculate the market size, the report considers the revenue generated through the retail sales of different types of fragrance diffusing devices.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Fragrance Diffusing Device Market 2018-2022
Technavio recognizes the following companies as the key players in the global fragrance diffusing device market: Aromis Aromatherapy, Edens Garden, Mountain Rose Herbs, Rocky Mountain Oils, S. C. Johnson & Son, and Young Living Essential Oils
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Expanding tourism and hospitality industry. Growth in the tourism industry has boosted the demand for hotel rooms worldwide which, in turn, results in the demand for miscellaneous room accessories like fragrance diffusing devices. In 2016, the retail value of the global hotel industry reached over $490 billion and is expected to cross $550 billion by 2018.”
According to the report, one of the major drivers for this market is Introduction of technologically advanced product ranges. Apart from being capable of delivering fragrance and eliminating foul odors from the air in a room, many smart fragrance diffusing devices are introduced in the market which can automatically change the fragrance based on the needs of users. For example, PIUM introduced a smart fragrance diffusing device that automatically controls the fragrance’s intensity based on the user's needs, which includes emitting a strong scent depending on the user’s location or the time of the day. It can also sense the presence of a smartphone in the room. If the smartphone is not in the room, then the diffusing device does not emit fragrance into the room.
Further, the report states that one of the major factors hindering the growth of this market is Lesser penetration among mass customers due to availability of cheaper alternatives. Over the past few years, market competitors have increased the prices of fragrance diffusing devices to offset the fluctuating prices of raw materials used to manufacture such products. This is the main reason for the low penetration of fragrance diffusing devices in developing countries compared to that of developed countries. Consequently, a majority of low-profit and mass customers do not prefer buying fragrance diffusing devices due to the high cost factor involved.
Aromis Aromatherapy, Edens Garden, Mountain Rose Herbs, Rocky Mountain Oils, S. C. Johnson & Son, and Young Living Essential Oils
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