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Covid-19 Impact on Household Humidifier Market Is Expected At A CAGR Of 4.6% 2025

The global household humidifier market size is expected to reach USD 3.80 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 4.6% during the forecast period. Rising awareness about the health effects of dry air, including dry throat, nose irritation, dry cough, sinus congestion, dry skin, and bloody noses, is driving the growth. Rising demand for the product from houseplant owners to maintain a specific level of indoor humidity, is also projected to further fuel the demand.

In terms of product, the whole-house Household Humidifier segment is expected to expand at the fastest CAGR of over 5% from 2019 to 2025. These products have low operational cost as they require very less electricity. Several smart whole-home products automatically adjust the humidity level based on the temperature of the home and they require very little maintenance. These products are connected to the central HVAC system of the home which maintains the humidity of the entire home. Such advantages of the product are anticipated to bode well for the segment growth.

Offline distribution channel segment held the largest share of the Household Humidifier Market in 2018, accounting for more than 80% of the total revenue. These channels are expected to remain a key medium as they provide after-sale-services including installation, maintenance, and repair. Online channel, on the other hand, is expected to witness the fastest CAGR, owing to the rapid adoption of e-commerce as a purchasing medium owing to the convenience, add-on services such as Cash-on-Delivery (COD), cashback offers, coupon benefits, and free home delivery. Additionally, increasing digitalization in developing economies including China and India on account of supportive government policies for improving internet connectivity along with smartphone penetration is anticipated to drive the growth.

North America led the market for household humidifier in 2018, contributing to over 40% of the global revenue share. High consumer awareness about the negative effects of low humidity or dry air and the cold weather conditions in U.S. and Canada are projected to continue driving the regional product demand during the forecast period. The product sales fluctuate during cold and warm seasons due to the weather dependency of the product.

Key participants operating in the market for household humidifiers include Jarden Corporation; Boneco AG (Air-O-Swiss); Aprilaire; Dyson Ltd; Crane USA; Honeywell International Inc.; Essick Air Products, Inc.; Hunter Home Comfort; Guardian Technologies; Venta Air Technologies, Inc.; and Stadler Form Aktiengesellschaft.

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Further key findings from the report suggest:

  • Ultrasonic product segment is expected to register the fastest CAGR of 5.1% from 2019 to 2025, due to the factors such as affordability and better energy-efficiency of the product
  • Offline distribution channel segment led the household humidifier market in 2018, accounting for more than 80% of the global revenue share
  • Portable products led the global market, with a revenue of exceeding USD 2.5 billion in 2018
  • Asia Pacific is expected to witness the fastest CAGR of 6.3% from 2019 to 2025, attributed to the rising consumer awareness regarding personal hygiene in key economies including China and India
  • Product innovation is expected to remain a key strategy among the market participants over the next few years

This post first appeared on Market Research Reports, please read the originial post: here

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Covid-19 Impact on Household Humidifier Market Is Expected At A CAGR Of 4.6% 2025


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