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Home Fragrance Market Report 2023-2032: Market Size, Growth Drivers And Industry Trends | S. C. Johnson & Son Inc., Voluspa, Newell Brands, NEST Fragrances LLC, Godrej Aer
Home Fragrance Market
The Business Research Company's Home Fragrance Global Market Report 2023 identifies increasing demand for natural essential oils in home fragrance products as the major driver for the Home Fragrance market's growth in the forecast period. The use of natural essential oils is becoming increasingly popular as people place a greater emphasis on their health and well-being, as well as a favorable impression of aromatherapy. It is classified as a supplemental medicine that is used to improve one's health and well-being.
The global home fragrance market size will grow from $7.06 billion in 2022 to $7.7 billion in 2023 at a compound annual growth rate (CAGR) of 9.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global home fragrance is expected to grow to $10.72 billion in 2027 at a CAGR of 8.6%.
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Major competitors in the Home Fragrance market are S. C. Johnson & Son Inc., Voluspa, Newell Brands, NEST Fragrances LLC, Godrej Aer.
A key trend in the Home Fragrance market includes Technological innovations. Technological innovations are the discovery of knowledge that advances technology. For instance, in February 2021, Glade, an American brand of household air fresheners owned by S. C. Johnson & Son, launched a new energy-efficient PlugIns Scented Oil PLUS, a device with a new smart-light technology to make it work more efficiently in homes. This device is used to fill any room with Glade's popular and seasonal fragrances and with its rest mode, this scented oil warmer allows people to save energy and fragrance at the same time. In another instance, in December 2021, Pura, a US-based innovative smart home fragrance technology company, partnered with Kenneth Cole for the development of two new smart home scent diffuser brands, "Aim to Teas" and "Go Fig-ure." Pura utilized scientific tools to relate perfumes with well-being while producing these aromas, giving them a wholly new sensation and deeper significance.
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The Home Fragrance market is segmented -
1. By Product Type: Candles, Room Sprays, Reed Diffuser, Essential Oils, Incense Sticks
2. By Fragrances: Lemon, Lavender, Jasmine, Rose, Sandalwood, Vanilla, Other Fragrances
3. By Distribution Channel: Supermarkets And Hypermarkets, Online Stores, Convenience Stores, Other Distribution Channels
4. By Form: Liquid, Dry, Solid
5. By End-User: Home Care, Healthcare, Hospitality, Museums, Commercial, Other End-Users
6. By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Western Europe was the largest region in the Home Fragrance market.
The Business Research Company's "Global Home Fragrance Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Home Fragrance Market Include:
1. Executive Summary
2. Home Fragrance Market Characteristics
3. Home Fragrance Market Trends And Strategies
4. Home Fragrance Market - Macro Economic Scenario
5. Home Fragrance Market Size And Growth
……
26. Africa Home Fragrance Market
27. Home Fragrance Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Home Fragrance Market
29. Home Fragrance Market Future Outlook and Potential Analysis
30. Appendix
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