Vaporizer Market to Reach $2.0 Billion, Globally, by 2031 at 5.4% CAGR: Allied Market Research

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Mar 20, 2023, 11:10 ET

Surge in prevalence of cough & cold, rise in the use of vaporizers for beauty care purposes, increase in beauty care expenditure, surge in standard & quality of life, and rise in awareness about the convenience of using vaporizers drive the global vaporizers market.

PORTLAND, Ore., March 20, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Vaporizer Market by Product Type (Facial steamer, Hair Vaporizer, Nebulizer), by Application (Residential, Hospitals, Personal Care Services), by Distribution Channel (Online, Offline): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global vaporizer industry was valued at $1.2 billion in 2021 and is estimated to generate $2.0 billion by 2031, witnessing a CAGR of 5.4% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

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Drivers, Restraints, and Opportunities

Surge in prevalence of cough & cold due to changes in weather, poor immunity, and allergies, rise in the use of vaporizers for beauty care purposes, increase in beauty care expenditure, surge in standard & quality of life, and rise in awareness about the convenience of using vaporizers drive the global vaporizers market. However, the risk of getting burned or scalded owing to the mishandling of the vaporizer and the availability of a humidifier are likely to hinder the market growth during the forecast period. On the other hand, a rise in technical advancements will present new growth opportunities for the global market in the coming years.

Covid-19 Scenario

The global vaporizer market was positively impacted by the Covid-19 pandemic outbreak, as many consumers bought vaporizers for using them at home to avoid doctor visits.
The pandemic resulted in an increased demand for the vaporizer market as it helped to overcome colds and coughs, and respiratory issues which can be caused due to COVID.
According to the report of the National Library of Medicine, U.S., it has been observed that the administration of steam inhalation reduced clinical symptoms in infected patients.

The personal care services segment to dominate the market during the forecast period

Based on application, the personal care services segment contributed to the largest share of more than two-fifths of the global vaporizer market in 2021 and is expected to maintain its dominance during the forecast period. This is due to the rise in concern of the global population toward their personal appearance and surge in expenditure on beauty & personal care. Moreover, the residential segment is projected to witness the fastest CAGR of 5.9% from 2022 to 2031. The growth is attributed to the rise in concern of consumers toward personal care and increase in geriatric population.

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The facial steamer segment to maintain its leadership during the forecast period

Based on product type, the facial steamer segment grabbed the highest share of more than two-fifths of overall vaporizer market in 2021 and is expected to dominate the market during the forecast period. The growth is driven by a rise in concern toward personal appearance and huge number of incidences of cold. Furthermore, the hair vaporizer segment is projected to witness the fastest CAGR of 6.1% from 2022 to 2031. The hair vaporizer improves blood circulation in the scalp and steaming hair retains its moisture and allows other hair care products to enter the hair cuticles easily.

The offline segment to maintain a progressive growth during the forecast period

Based on distribution channel, the offline segment grabbed the highest share of more than two-thirds of the overall vaporizer market in 2021 and is expected to dominate the market during the forecast period. Offline stores allow customers to check the product before making a purchase, which also attracts numerous customers to offline stores, and their ability to quickly buy and return the purchased items at the stores drives the segment growth. The online segment, on the other hand, is projected to witness the fastest CAGR of 6.2% from 2022 to 2031. Online purchase of goods is becoming very popular and more prevalent due to the high penetration of the internet across the globe and the convenience of shopping, continuous service, and availability of a wide range of choices.

North America to achieve the largest revenue by 2031

Based on region, the market in North America was the largest in 2021, accounting for more than one-third of the global vaporizer market and is likely to maintain its dominance during the forecast timeframe. This is because of a rise in awareness regarding the benefits of vaporizers, and high disposal income of the population of North America. Moreover, the market in Asia-Pacific is likely to show the fastest CAGR of 6.5% during the forecast period. The growth of the market is driven by a rise in health concerns of consumers in developing countries, such as India and China.

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Leading Market Players:

Secura
Drive DeVilbiss International
Allied Healthcare Products, Inc.
Beurer GmbH
Revlon, Inc.
Trudell Medical International
Philip Morris International Inc.
Panasonic Corporation
Teleflex Incorporated
PARI Respiratory Equipment, Inc.
Garfield Commercial Enterprises, Inc.
Felton Grimwade & Bosistos Pty Ltd
C&A Marketing, Inc.
OMRON Corporation
Conair Corporation

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