[February 22, 2018] |
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Fragrance Diffusing Device Market - Expanding Wellness Tourism Industry Drives Growth | Technavio
Technavio's latest market research report on the global
fragrance diffusing device market provides an analysis of the
most important trends expected to impact the market outlook from
2018-2022. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.
This press release features multimedia. View the full release here:
http://www.businesswire.com/news/home/20180222006499/en/
Technavio has published a new market research report on the global fragrance diffusing device market from 2018-2022. (Graphic: Business Wire)
According to Technavio analysts, the global fragrance diffusing device
market will grow at a CAGR of almost 10% during the forecast
period. Introduction of technologically advanced product ranges is a
major factor driving the market's growth.
Apart from delivering fragrance and eliminating foul odors from the air
in a room, many smart fragrance diffusing devices are introduced in the
market that can automatically change the fragrance based on the needs of
the users. The smart fragrance diffusing device is different from other
smart home products as it is not solely dictated by a mobile
application. This feature sets these products apart from other smart
products or diffusers. The application can be manually operated to
diffuse certain fragrances. The fragrance diffusing device can operate
on its own and chooses the best scent to match the user's daily routine.
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In this report, Technavio highlights the growing wellness tourism
industry on a large scale as one of the key emerging trends driving the
global fragrance diffusing device market:
Growing wellness tourism industry on a large
scale
Spas have become an essential part of the wellness tourism. Hectic
schedules and time-pressed lifestyles have contributed to health issues
such as skin problems, obesity, poor immunity, heart problems, and
different chronic diseases among consumers. Inbound international and
inbound domestic wellness tourism are the two different kinds of
wellness tourism. The increasing consciousness among consumers about
their health and wellness is one of the factors that has been
contributing to the growth of the global spa equipment market, including
global fragrance
diffusing device market.
Wellness tourism is on the increase as it improves the quality of life
and prevents health issues. It is also one of the largest segments of
the global tourism industry. The US, Germany, China, and Japan are some
of the leading countries in the global wellness tourism market. The US
leads in both kinds of wellness tourism.
Wellness tourism encourages people to travel to different countries with
the purpose of stimulating health and well-being through physical,
spiritual, and psychological activities. Global lifestyles changes and
advanced health trends are drawing attention toward the impact of the
wellness industry on improving life, enhancing the bottom lines of
businesses, and reducing health-care costs. The wellness tourism
industry contributes to around 5.5% and 6.5% of domestic and
international trips respectively.
"The spa market contributes a significant portion to the overall
wellness tourism industry. Spa tourism represents about 42% of wellness
tourism expenditure and is expected to grow further in the next five
years. Owing to growth in the wellness tourism market, the number of spa
facility services have increased. This drives the demand for products
related to spas. The global fragrance diffusing device market is
expected to benefit from the growth in the wellness industry," says
a senior analyst at Technavio for research on home,
kitchen, and large appliances.
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Global fragrance diffusing device market
segmentation
This market research report segments the global fragrance diffusing
device market based on product (manual control fragrance diffusing
devices and smart fragrance diffusing devices), end-user (commercial
users and residential users), and geography (the Americas, APAC, and
EMEA).
The manual control fragrance diffusing devices segment held the largest
market share in 2017, accounting for nearly 81% of the market. It was
followed by the smart fragrance diffusing devices that contributed the
second largest share in the market.
EMEA was the leading region for the global fragrance
diffusing device market in 2017, accounting for a market share
of close to 43%. It was followed by the Americas that held the second
largest share in the market followed by APAC.
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View source version on businesswire.com: http://www.businesswire.com/news/home/20180222006499/en/
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