Global Home Fragrances Market, Forecast & Opportunities, 2024
Global home fragrances market stood at $ 7.2 billion in 2018 and is projected to grow at a CAGR of 4.6% during 2019-2024 to reach $ 9.4 billion by 2024, backed by their properties of creating a favorable environment at home. The fragrance is considered a functional ingredient in home care products to mask unpleasant odors. Home fragrance products are made with a different type of aromas such as eucalyptus, jasmine, and lavender that help to liven up the mood, thereby creating a stress-free environment.
Global home fragrances market is thriving, driven by new aesthetically pleasing products, personalization of the products and usage of natural ingredients in the products. Growing demand for natural essential oils in home fragrance products is likewise bringing about the increasing demand for home fragrance products. Rising discretionary income leading to increasing inclination of consumers towards various types of home fragrance products is another factor responsible for the steady growth of the global home fragrances market.
In terms of product type, the global home fragrances market has been categorized into sprays, sachets, electric air fresheners, and others. Sprays are usually cheaper than electric air fresheners and scented oils, thus accounted for the largest market share in 2018 and expected to continue their market dominance during the forecast period.
Europe dominated the global home fragrances market in 2018, majorly on account of increasing awareness related to a healthy lifestyle. The United Kingdom accounted for the majority of the European home fragrances market in the reported year. The sales of electric air fresheners, candles and wax melts have increased in the United Kingdom, they also have a higher ASP and a higher frequency of purchase. Also, people in the country are frequent buyers of home fragrance products, which drives the market in the country as well.
Geographical expansions, new product launches, acquisitions, and mergers are some of the key strategies adopted by companies operating in the global home fragrances market to remain competitive among themselves. The market boasts the presence of a large number of regional and international players, thus making the market fragmented in nature. Manufacturers of home fragrances compete among themselves on delivering quality products in order to gain a competitive edge. Some of the leading market players are S.C. Johnson & Son Inc., Reckitt Benckiser Group plc, The Procter & Gamble Company, Newell Brands Inc, L Brands Inc, NEST Fragrances LLC, Seda France, Inc., Illume Inc., Henkel AG & Co. KGaA and Beaumont Products, Inc.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024
The objective of the Study:
To analyze and forecast global home fragrances market size.
To classify and forecast global home fragrances market based on product type, distribution channel, and regional distribution.
To identify drivers and challenges for the global home fragrances market.
To examine competitive developments such as expansions, new product launches, mergers & acquisitions etc. in global home fragrances market.
To conduct the pricing analysis for global home fragrances market.
To identify and analyze the profile of leading players involved in global home fragrances market.
Some of the leading players in global home fragrances market are S.C. Johnson & Son Inc., Reckitt Benckiser Group plc, The Procter & Gamble Company, Newell Brands Inc, L Brands Inc, NEST Fragrances LLC, Seda France, Inc., Illume Inc., Henkel AG & Co. KGaA and Beaumont Products, Inc.
Research performed both primary as well as exhaustive secondary research for this study. Initially, Research sourced a list of manufacturers across the globe. Subsequently, Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, Research could include the manufacturers which could not be identified due to the limitations of secondary research. The research analyzed the product offerings, distribution channels, and the presence of all major manufacturers across the globe.
The research calculated global home fragrances market size using a bottom-up approach, where data for various application across various end-user segments were recorded and forecast for the future years. Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations, and financial reports were also studied by Research.
Key Target Audience:
Manufacturers, suppliers, distributors, and stakeholders of home fragrances
Raw material suppliers of home fragrances
Potential Investors
Organizations, forums and alliances related to home fragrances market
Research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end users, etc. besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, the global home fragrances market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Market, by Product Type:
- Sprays
- Sachets
- Electric Air Fresheners
- Others
- Scented Candles
- Scented Oils
Store-based Retail
Non-Store-based Retail
Market, by Region:
Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- France
- Germany
- United Kingdom
- Italy
- Russia
- Netherlands
- United States
- Mexico
- Canada
- Brazil
- Argentina
- Colombia
- South Africa
- Saudi Arabia
- UAE
Company Profiles: Detailed analysis of the major companies present in the global home fragrances market.
Available Customizations
With the given market data, Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
Detailed analysis and profiling of additional market players (up to five).
Profit Margin Analysis
Profit margin analysis in case of the direct and indirect sales channel.
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