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
NEW YORK, June 13, 2019 /PRNewswire/ -- Global Home Fragrances Market By Product Type (Sprays, Sachets, Electric Air Freshener/ Diffuser, Scented Candle & Others), By Distribution Channel (Store-based Retail & Non-Store-based Retail), By Region, Competition, Forecast & Opportunities, 2024
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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. Fragrance is considered a functional ingredient in home care products to mask unpleasant odors. Home fragrance products are made with 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 global home fragrances market.
In terms of product type, 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 global home fragrances market in 2018, majorly on account of increasing awareness related to a healthy lifestyle.United Kingdom accounted for 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 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
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 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.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the product offerings, distribution channels and presence of all major manufacturers across the globe.
The analyst calculated global home fragrances market size using a bottom-up approach, where data for various application across various end-user segments was recorded and forecast for the future years. The analyst 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 the analyst.
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, global home fragrances market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, by Product Type:
o Sprays
o Sachets
o Electric Air Fresheners
o Scented Candles
o Others
Reed Diffusers
Wax Melts
Potpourri
• Market, by Distribution Channel:
o Store-based Retail
o Non-Store-based Retail
• Market, by Region:
o Asia-Pacific
China
India
Japan
Australia
South Korea
o Europe
France
Germany
United Kingdom
Italy
Russia
Netherlands
o North America
United States
Mexico
Canada
o South America
Brazil
Argentina
Colombia
o Middle East & Africa
South Africa
Saudi Arabia
UAE
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global home fragrances market.
Available Customizations
With the given market data, we 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 direct and indirect sales channel.
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