Report ID: SQMIG30L2186
Report ID:
SQMIG30L2186 |
Region:
Global |
Published Date: March, 2024
Pages:
198
|
Tables:
65 |
Figures:
65
As of 2022, the North American region claims the lion's share of the market, and this dominance is projected to persist with a CAGR of 8.2% in terms of revenue over the forecast period. This robust growth can be attributed to the escalating inclination towards natural constituents for addressing concerns like anxiety, stress, and depression. Furthermore, the region benefits from favorable laws and regulations governing essential oil cultivation, which are poised to bolster product demand in the foreseeable future.
Europe emerges as a significant hub both in terms of essential oil production and consumption, encompassing varieties such as lavender, coriander, rosemary, and citrus oils. The upsurge in the quest for natural beauty and cosmetic items, pharmaceuticals, and nutraceuticals has catalyzed a surge in demand for aroma diffusers capable of effectively disseminating these essential oils. The continent's dynamic landscape reflects an increasing requirement for such diffusers.
Meanwhile, the Asia Pacific region is set to experience the swiftest expansion, with a projected CAGR of 8.7% from 2023 to 2030. This growth is underpinned by factors like burgeoning disposable income and the thriving health and wellness sector, particularly in developing nations such as India, China, Indonesia, and Taiwan. These factors have synergized to drive a mounting demand for aromatherapy diffusers, forming a robust market landscape in the region.
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Report ID: SQMIG30L2186