The global home fragrance market size is expected to reach USD 9.1 billion by 2025, expanding at a CAGR of 4.4% over the forecast period, according to a new report by Grand View Research, Inc. High demand for home fragrances, growing need for aromatherapy at households, introduction of new aesthetic pleasing products, change in consumer preferences, and improved standard of living are driving the global market. In addition, increasing awareness regarding hygienic lifestyle is expected to drive the market in the forecast period.
Supermarkets and hypermarkets generated a revenue of USD 3.4 billion in 2018. Availability of home scents is increasing in these channels due to growing trend of improved lifestyle and need for a relaxed environment with aroma. The online distribution channel segment is expected to expand at a CAGR of 5.1% over the forecast period where the consumer can access a wide range of scents. This is expected to remain a key driver for the market growth over the forecast period. Portals such as Alibaba, Amazon, Big basket, Grofers, Walmart, and Pepper fry are a few of them that are engaged in e-commerce for home fragrances.
The spray product segment held the largest share and generated a revenue of USD 2.2 billion in 2018. This segment consists of lavender, jasmine, and rose fragrances applicable for bedrooms and washrooms. Scent candles are likely to expand at a CAGR of 4.1% over the forecast period. Diffusers are anticipated to register a CAGR of 3.9% as they have the ability to control home scent experience. Growing awareness regarding performance and functionality of home fragrance products, such as controlled release systems, is a key factor driving the product demand.
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Home Fragrance Market Share Insights
Key players in the market include Reckitt Benckister; Procter and Gamble; Seda France, Inc.; S. C. Johnson & Son, Inc.; Voluspa; Newell Brands; 3M company; Scent Air; Esteban Paris; and Korona Candles S.A. Improvement in the lifestyle of consumers and growing concerns over indoor air quality and surroundings provide manufacturers an opportunity to fulfil their needs by making various home fragrances available to consumers.
Major market players are carrying out research and development activities to make these products available to the customers as per their needs. Moreover, they are involved in the manufacturing of a variety of home fragrances that could restore the essence of aroma.
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