The global home fragrance market size is expected to reach
USD 9.1 billion by 2025, expanding at a CAGR of 4.4% over the forecast period,
according to a new report by Grand View Research, Inc. High demand for home
fragrances, growing need for aromatherapy at households, introduction of new
aesthetic pleasing products, change in consumer preferences, and improved
standard of living are driving the global market. In addition, increasing
awareness regarding hygienic lifestyle is expected to drive the market in the
forecast period.
Supermarkets and hypermarkets generated a
revenue of USD 3.4 billion in 2018. Availability of home scents is increasing
in these channels due to growing trend of improved lifestyle and need for a
relaxed environment with aroma. The online distribution channel segment is
expected to expand at a CAGR of 5.1% over the forecast period where the
consumer can access a wide range of scents. This is expected to remain a key
driver for the market growth over the forecast period. Portals such as Alibaba,
Amazon, Big basket, Grofers, Walmart, and Pepper fry are a few of them that are
engaged in e-commerce for home fragrances.
The spray product segment held the largest
share and generated a revenue of USD 2.2 billion in 2018. This segment consists
of lavender, jasmine, and rose fragrances applicable for bedrooms and
washrooms. Scent candles are likely to expand at a CAGR of 4.1% over the
forecast period. Diffusers are anticipated to register a CAGR of 3.9% as they
have the ability to control home scent experience. Growing awareness regarding
performance and functionality of home fragrance products, such as controlled
release systems, is a key factor driving the product demand.
Demand for these scents has increased due to
increasing consciousness of home aroma as a personality reflector. But apart
from showcasing the lavish lifestyle, manufacturers are making people aware
about the benefits and comfort that a consumer can gain from these various home
fragrances. Major market players have been carrying out extensive research and
development to make these products available to consumers as per their needs.
For instance, various market players are
involved in the manufacturing of a variety of home scents that could restore
the essence of aroma. Innovations such as Airia, a home fragrance launched by
Procter and Gamble that can be controlled through smartphone app with the help
of ink jet technology, are driving the demand for these fragrances in upcoming
years.
Europe was the largest regional home fragrance
market in 2018 and generated a revenue of USD 2.2 billion. The region is
expected to maintain its lead over the forecast period. Key players in the
global market include Reckitt Benckister;
Procter and Gamble; Godrej; S. C. Johnson & Son, Inc.; Air Esscentials;
Newell Brands; 3M company; Scent Air; Esteban Paris; and Korona Candles S.A.
For full research report on Home
Fragrance Market visit here: https://www.grandviewresearch.com/industry-analysis/home-fragrance-market
Further key
findings from the study suggest:
- By product,candles are expected to register a
CAGR of 4.1% from 2019 to 2025, followed by diffusers with a CAGR of 3.9%.
Sprays dominated the global market with a revenue share of 33.6% in 2018
- Europe dominated the market in 2018 with a
revenue of USD 2.2 billion. This trend is projected to continue over the
next few years. Product demand is growing in Asia Pacific due to increase
in awareness and changing taste and preference for home odor
- The home fragrance market is highly
competitive due to presence of the main players including Reckitt
Benckister; Procter and Gamble; Godrej; and S. C. Johnson & Son, Inc.
- Newell Brands joined hands with Wood Wick and
Chesapeake Bay Candle brands in 2017 to expand its product portfolio
- Various manufacturers are concentrating on new
product launches and capacity expansion to estimate existing and future
demand patterns from upcoming product segments.
Get request sample of this report here: https://www.grandviewresearch.com/industry-analysis/home-fragrance-market/request/rs1
Grand
View Research has segmented the global home fragrance market on the basis of
product, distribution channel, and region:
Home
Fragrance Product Outlook (Revenue, USD Million, 2015 - 2025)
- Sprays
- Diffusers
- Candles
- Others
Home
Fragrance Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
- Supermarkets &
Hypermarkets
- Convenience Stores
- Online
Home
Fragrance Regional Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- U.S.
- Europe
- U.K.
- France
- Asia Pacific
- India
- China
- Central & South
America
- Middle East &
Africa
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
No comments:
Post a Comment