CAGR of Global Air Care Market Limited to 2.60% 2015-2021 owing to Lack of Consumer Awareness in Certain Countries

Transparency Market Research, in a report titled “Air Care Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021,” states that the global air care market is anticipated to rise from a value of US$9.8 bn in 2014 to US$11.7 bn by 2021, registering a weak CAGR of 2.60% therein.

The global market for air fresheners is driven by factors such as the increased levels of pollution in several emerging countries, the expansion of product categories, the rise in population and car production, hike in disposable income, and the introduction of odor eliminators and new fragrances. The demand for natural air care products and the rise in environmental awareness serve as opportunities for the air care market. On the down side, the lack of awareness among consumers in some lower-income countries and the lack of new products in Latin America and Asia Pacific act as major restraints on the air care market.

On the basis of product type, the air care market is categorized into electric, gel, liquid, spray/aerosol, car, candle, and others. Spray/aerosol air fresheners dominated the overall air care products market in 2014 and this segment is projected to continue its dominance throughout the forecast period. Asia Pacific and Europe are the leading markets for spray/aerosol air fresheners and product innovation is the key factor driving this segment.

On the basis of distribution channel, the air care market is bifurcated into business to business (B2B) and retail. The retail segment holds the largest share in the global air care market and is estimated to retain its lead through 2021. This segment is fueled by the growing demand for air care products from consumers and increase in car production.

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On the basis of geography, the global air care market is divided into Asia Pacific, Europe, North America, and Rest of the World. With a 34.40% share in the overall market, Europe dominated the global scenario in 2014. However, this region is anticipated to lose market share to Asia Pacific by the end of the forecast period. North America formed the second largest air care market in 2014 with a 32.20% share. Driven by the surge in car production, rise in population, and increase in disposable income, Asia Pacific is estimated to account for a share of 31.70% by 2021, emerging as the largest market for air care.

Church & Dwight Co. Inc., WD-40 Co., Chesapeake Bay Candle, Reckitt Benckiser Inc., Candle-lite, Inc., Procter & Gamble Co., SC Johnson & Son Inc., American Covers, Inc., Henkel Group., and Car Freshener Corporation are some of the Leading Players competing in the global air care market. These vendors are featured in the research report and key aspects such as company overview, recent developments, product portfolio, financial overview, and business strategies are discussed at length.

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