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Home Fragrance Market Size, Trends, Growth Analysis, Top Players And Forecast To 2033
Home Fragrance Market Analysis
The Business Research Company presents an extensive market research report on the Home Fragrance Global Market Report 2024 , furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The home fragrance market size has grown strongly in recent years. It will grow from $7.68 billion in 2023 to $8.43 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to shift in consumer preferences, rise in disposable income, e-commerce and retail expansion, cultural and regional influences, gifting culture.
The home fragrance market size is expected to see strong growth in the next few years. It will grow to $12.05 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to demand for natural and organic products, popularity of home entertaining, health and safety concerns, rapid urbanization, expansion into multi-sensory experiences. Major trends in the forecast period include seasonal and limited-edition offerings, customization and personalization of fragrances, innovative diffuser technologies, collaborations with lifestyle and interior brands, unique and exotic scents, eco-friendly packaging.
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Key Market Players:
Major companies operating in the home fragrance market report are Procter & Gamble, Minnesota Mining and Manufacturing Company, Henkel AG & Co. KGAA, Reckitt Benckiser Group PLC, The Estee Lauder Companies Inc., S. C. Johnson & Son Inc., Newell Brands Inc., Bath & Body Works LLC, Chanel SA, dōTERRA International LLC, MINISO Co Ltd, The Yankee Candle Company Inc, Now Health Group Inc., Godrej and Boyce Mfg. Co. Ltd, Faultless Starch Company, Village CandleInc., Airwick Inc, Scentair Technologies Inc., Esteban Paris Parfums, NEST Fragrances LLC, Ripple Fragrances Pvt. Ltd, Bridgewater Candle Company, Flame & Wax Inc, Air Essentials Inc, Illume Inc., Seda France Inc., Bougie Et Senteur, Korona Candles S.A, Copenhagen Candle Company, Puzhen Life Co. Ltd
Market Drivers:
The increasing demand for natural essential oils in home fragrance products is expected to propel the growth of the home fragrance market. 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. According to the European Federation of Essential Oils (E.F.E.O.), an FDA-regulated body, world essential oil production accounts for approximately 600,000 hectares of the 1.6 billion hectares of agricultural production. Approximately one million farms produce in the industry, accounting for 0.06 percent of all farms worldwide (1.600 million). According to Fragrance Creators Association, the fragrance industry contributed $22.4 billion to the U.S. economy, in response to the global pandemic. Therefore, the increasing usage of essential oils in fragrance products by manufacturers is driving the growth of the home fragrance market.
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https://www.thebusinessresearchcompany.com/report/home-fragrance-global-market-report
The home fragrance market covered in this report 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
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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