Air Care Market - Global Industry Size, Share, Growth, Trends and Forecast 2021

Global Air Care Market: Snapshot

Developing economies are showing a rapidly improving consumerist environment due to greater focus by globally successful consumer product brands and increasing disposable incomes of shoppers. This applies especially to the air care products market, as it caters to consumers who are concerned with cleaner air or fragrant air and have the disposable income to support this. Emerging economies such as Brazil, China, and India are therefore the key regions that air care products manufacturers need to focus on.

A driver that is boosting the need for air care products is the growing level of air pollution around the world. Regions such as Egypt and China with higher than average levels of air pollution in the form of smoke and dust are key targets for air care products sales and distribution.

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The market is still, however, hindered by an overall lack of awareness regarding the modern air care products that can cater to a much wider demand and need across various regions. This factor is expected to maintain a medium level of impact on the air care product sales over the coming years. The market is also hindered by the presence of a large variety of substitute products, especially in emerging economies where the concept of air care is still new.

As a result of all the above factors, the global market for air care products is expected to progress at a CAGR of 2.6% from 2015 to 2021 in terms of revenue. The market is expected to reach US$10.29 bn by the end of 2016 and US$11.71 bn by the end of 2021.

Europe to be Topped by APAC in Air Care Product Market Value

By the end of 2021, 31.7% of the market value for air care products is expected to be taken up by Asia Pacific, from a regional perspective. This is expected to be more than the share obtained by Europe, which is currently the leading region for revenue generation in air care products. The demand for air care products is exceptionally high in Germany, France, and the U.K., allowing many players to gather significant sales numbers in these countries.

However Asia Pacific, with a growth in demand fueled by a high population, rising disposable incomes, and growing product awareness, is expected to lead the consumption of air care products by 2021. Japan is expected to be the leading APAC country to demand air care products till 2021.

Aerosol/Spray Air Fresheners Expected to Retain Market Dominance

By the end of 2021, 33.6% of the market value is expected to be held by the product segment of spray/aerosol air fresheners. This is close to its current market share and is mainly attributed to the ease of use of spray air fresheners and the increasing disposable incomes in emerging economies. Aerosol air care products are also the base of a high level of product innovation, such as the efficient use of antibacterial air sprays. These are expected to be in high demand given the growing amount of air pollution in the world.

At the same time, the demand for candles is expected to be the most till 2021, owing to aesthetic appeal of candles in homes. Candles are also considered far more eco-friendly than aerosol air fresheners, which is shifting consumer focus from the latter to the former.

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The key manufacturers of air care products globally include Henkel Group, Procter & Gamble Co., Church & Dwight Co. Inc., Reckitt Benckiser Inc., WD-40 Co., SC Johnson & Son Inc., Chesapeake Bay Candle, Car Freshener Corporation, Candle-lite, Inc., and American Covers, Inc.

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This release was published on openPR.