Home Fragrance Global Market 2023 - 2030: Rising Preference For Personalized Scented Candles Fuels the Sector

DUBLIN, June 2, 2023 /PRNewswire/ -- The "Home Fragrance Market - Global Outlook and Forecast 2023-2028" report has been added to  ResearchAndMarkets.com's offering.

The global home fragrance market size is expected to reach a value of $11.945 billion by 2028 from $9.15 billion in 2022, growing at a CAGR of 4.54% during 2022 to 2028.

Key Winning Imperatives in the Global Home Fragrance Market

• A candle's personalized and emotional appeal is an increasingly significant factor in a consumer's purchasing decisions.
• Eco-friendly packaging for home fragrance products with nature-friendly and organic components, such as corrugated hemp boxes and jute bags, will support the growth of sustainable packaging for home fragrance products.
• Aromatherapy helps in easing stress, depression, and anxiety and boosts the feeling of relaxation, and improves sleep.

Market Trends

Rising Preference For Personalized Scented Candles

Nowadays, candles have become household accessories to have in the home. The candle industry has experienced a big boom in the past few years.

The personalization of candles is becoming more popular, and people are looking for personal stamps on a product with the freedom to design and customize products according to their preferences. People looking to customize candles with their own aromatic choices have been creating opportunities for home fragrance market players to offer new products to consumers.

Shift In Focus Toward Sustainability

Modern consumers are highly concerned about environmental maintenance, which makes them adopt sustainable choices. Therefore, eco-friendly home fragrance packaging boxes have more preference over the rest of the products in the competition.

Also, sustainable packaging will be aided by eco-friendly packaging for home fragrance products made of natural and organic materials, such as jute bags and corrugated hemp boxes.

Rising Penetration Of E-Commerce Channels

E-commerce sales have steadily risen for years, and the increase in internet penetration has supported the growth worldwide. Due to the rising disposable incomes and changing lifestyles in several regions, the demand for home fragrances has significantly increased.

E-commerce platforms such as Amazon, eBay, and Shopify are gaining huge traction among consumers for purchasing home fragrances such as luxury candles, reed diffusers, room fresheners, etc. E-commerce retailers market artistically designed home fragrances, especially candles with elaborate shapes and sculptural crafting. This has created a spike in consumer interest in purchasing home fragrances and boosted the global industry.

Industry Restraints

Potential Health Risks

Several fragrances can lead to health problems. According to Healthdirect, around one in three people report health problems when exposed to fragrance products. These health problems can include headaches, asthma attacks, hay fever, nausea, migraine, seizures, breathing problems, rashes, congestion, and dizziness.

Inhaling essential oils that are diffused is generally safe for most people. Some people might react to the fumes and get an asthma attack. In addition, essential oils can cause severe lung infections, known as pneumonitis, for some people. Therefore, such factors with the potential for health risks are anticipated to hinder the growth of the home fragrance market during the forecast period.

Competitive Landscape

The global home fragrance market is highly fragmented, and the degree of fragmentation is expected to accelerate during the forecast period.

There is a significant number of global and domestic vendors across the geographies. While large organizations with a considerable budget have pricing, flexibility in approach, and the ability to customize solutions as their top criteria, smaller organizations do not emphasize reporting as much.

Further, pricing is the top criterion, while expertise and testimonials are at the bottom. Vendors compete in terms of brand value, customization ability, price, skilled workforce, and technological capability.

Key Company Profiles

• Procter & Gamble
• S.C. Johnson & Son
• Godrej Consumer Products
• Reckitt Benckiser Group
• Newell Brands

Other Prominent Vendors

• Henkel
• Faultless Brands
• Beaumont Products
• ILLUME
• GALA GROUP
• Voluspa
• Seda France's
• NEST
• The Estee Lauder Companies
• Bougie et Senteur
• Circle E Candles
• Esteban
• Broken Top Brands
• Bridgewater Candle Company
• The Copenhagen Company
• Pure Source India
• Asian Aura
• Odonil
• ScentAir
• P.F. Candle Company

Key Questions Answered:
1. How big is the home fragrance market?
2. What is the growth rate of the global home fragrance market?
3. Which region dominates the global home fragrance market share?
4. What are the significant trends in the home fragrance industry?
5. Who are the key players in the global home fragrance market?

Key Topics Covered:

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.1.3 Market Estimation Caveats
4.2 Base Year
4.3 Scope of the Study
4.4 Market Segmentation
4.4.1 Market Segmentation by Product
4.4.2 Market Segmentation by Form
4.4.3 Market Segmentation by Distribution Channel
4.4.4 Market Segmentation by Geography

5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation

6 Premium Insights
6.1 Market Overview
6.1.1 Market Trends
6.1.2 Market Opportunities
6.1.3 Market Enablers
6.1.4 Market Challenges
6.2 Segment Overview
6.3 Competitive Landscape

7 Market at a Glance

8 Introduction
8.1 Overview
8.1.1 Fragrances
8.2 Value Chain Analysis
8.2.1 Fragrance Industry
8.2.2 Candle Industry
8.2.3 Raw Material Suppliers
8.2.4 Manufacturers
8.2.5 Distributors
8.2.6 End-Users

9 Market Opportunities & Trends
9.1 Preference for Personalized Scented Candles
9.2 Focus on Sustainable Packaging
9.3 Advent of Aromatherapy

10 Market Growth Enablers
10.1 Penetration of E-Commerce Channels
10.2 Popularity Among Gen Z & Millennial Populations
10.3 Rapid Urbanization
10.4 Increased Mental Health Problems

11 Market Restraints
11.1 Highly Competitive & Fragmented Market
11.2 Potential Health Risks

12 Market Landscape
12.1 Market Overview
12.2 Market Size & Forecast
12.3 Five Forces Analysis
12.3.1 Threat of New Entrants
12.3.2 Bargaining Power of Suppliers
12.3.3 Bargaining Power of Buyers
12.3.4 Threat of Substitutes
12.3.5 Competitive Rivalry

13 Product
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Candles
13.3.1 Market Overview
13.3.2 Market Size & Forecast
13.3.3 Market by Geography
13.4 Room Sprays
13.4.1 Market Overview
13.4.2 Market Size & Forecast
13.4.3 Market by Geography
13.5 Reed Diffusers
13.5.1 Market Overview
13.5.2 Market Size & Forecast
13.5.3 Market by Geography
13.6 Essential Oils & Wax Melts
13.6.1 Market Overview
13.6.2 Market Size & Forecast
13.6.3 Market by Geography
13.7 Incense Sticks & Cones
13.7.1 Market Overview
13.7.2 Market Size & Forecast
13.7.3 Market by Geography
13.8 Others
13.8.1 Market Overview
13.8.2 Market Size & Forecast
13.8.3 Market by Geography

14 Form
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Liquid
14.3.1 Market Overview
14.3.2 Market Size & Forecast
14.3.3 Market by Geography
14.4 Semi-Solid
14.4.1 Market Overview
14.4.2 Market Size & Forecast
14.4.3 Market by Geography
14.5 Solid
14.5.1 Market Overview
14.5.2 Market Size & Forecast
14.5.3 Market by Geography

15 Distribution Channel
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
15.3 Supermarkets & Hypermarkets
15.3.1 Market Overview
15.3.2 Market Size & Forecast
15.3.3 Market by Geography
15.4 Convenience Stores
15.4.1 Market Overview
15.4.2 Market Size & Forecast
15.4.3 Market by Geography
15.5 Online
15.5.1 Market Overview
15.5.2 Market Size & Forecast
15.5.3 Market by Geography
15.6 Others
15.6.1 Market Overview
15.6.2 Market Size & Forecast
15.6.3 Market by Geography

16 Geography

17 North America

18 Europe

19 APAC

20 Latin America

21 Middle East & Africa

23 Key Company Profiles

24 Other Prominent Vendors

25 Report Summary

26 Quantitative Summary

27 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/i5j5be

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