Air Care Market projected to Grow at USD 12376.56 Million by 2023 at a CAGR of 2.47%

Market Scenario:

As per the MRFR analysis, the global air care market is expected to reach USD 12376.56 million by 2023 at a CAGR of 2.47% during the forecasted period.

Air care products are consumer goods, which are majorly used to purify indoor air. These products have an application in homecare products. Air care products are used to remove the bad odor from the surroundings and keep it fresh. Air care products are available in various forms including sprays, oils, candles, blends, and others. Rising awareness regarding hygiene among the consumers is driving the sale of air care products on a global level.

Various types of air care products are available in the market such as air fresheners, electric air fresheners, car air fresheners, gel air fresheners, candle air fresheners, and liquid air fresheners, which help in getting rid of bad odor inside the room and car. Increasing consumer’s expenditure on home care products, and escalating application of environmental air care products in home are driving the global air care market.

Rapid urbanisation has resulted in the increase of automobiles, especially cars. This increase has a positive influence on the use of car air fresheners. People while commuting in car prefer to have a better quality of air which is odour free. With the rising demand for air care products specially customized for car has raised the demand from the manufacturers. Innovative gel based air cares for car’s to avoid spillage with long lasting air care has opened the door for consumers to use air care product in cars.

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Key Players:

The leading players in the global air care market are Procter & Gamble Co.(U.S.), Reckitt Benckiser Group, Plc.(U.K.), S.C. Johnson & Son, Inc.(U.S.), Godrej Consumer Products Ltd.(India), Henkel AG & Company, KGaA (Germany), Church & Dwight Co., Inc.(Taiwan), Farcent Enterprise Co. Ltd.(Taiwan).

Strong performance of the retail sector, product promotions are identified to be one of the major opportunities to flourish in the global air care market. Product promotions are used as one of the key strategies by the manufacturers to generate high revenue from this market. Consumers in some countries are still unaware of the merits of air care products and hence air care products have not gained popularity in such countries. In such cases, product promotions through social media, magazines, newspapers and electronic media helps in spreading awareness about the new product launch thus further gaining consumers’ attention. Celebrity endorsement for product promotions is also one of the strong strategies followed in this market. Consumers tend to follow famous personalities which also lead to personal communication and eventually increased sale of the product.

Regional Analysis:

The global air care market is segmented into North America, Europe, Asia Pacific, and Rest of the world. Among these, Asia Pacific is projected to retain its dominance throughout the forecast period owing to increasing population and robust economic growth. Asia Pacific is estimated to reach USD 2945.62 million by 2023. However, Europe is projected to expand at a moderate CAGR of 2.30% during the forecast period 2017-2023.

Segments:

The global air care market has been segmented on the basis of product type, which includes spray air fresheners, electric air fresheners, car sir fresheners, gel air fresheners, candle air fresheners, liquid air fresheners, and others. The spray air fresheners segment is projected to account for maximum market proportion at a CAGR of 2.56% during the forecast period. On the basis of distribution channel, the global air care market is segmented into retail and business to business. Among both, the retail market segment is estimated to witness the highest growth at a CAGR of 2.51% during the forecast period 2017-2023.

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Key Findings:

Asia Pacific is estimated to retain its dominance throughout the forecast period at a CAGR of 3.06%. Among the Asia Pacific countries, China is projected to witness a substantial growth at a CAGR of 3.19% during the forecast period of 2017-2023
Global air care manufacturers find massive opportunities in Germany owing to the huge demand for air care products, especially, home and cars.
Regional and Country Analysis of the Global Air Care Market Development and Demand Forecast till 2023

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