Global Home Fragrance Market Size By Product (Sprays, Diffusers, Candles), By Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online), By Geographic Scope And Forecast

Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format

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Global Home Fragrance Market Size By Product (Sprays, Diffusers, Candles), By Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online), By Geographic Scope And Forecast

Home Fragrance Market Size And Forecast

Home Fragrance Market size was valued at USD 7.5 Billion in 2024 and is projected to reach USD 10.5 Billion by 2031, growing at a CAGR of 4.29% from 2024 to 2031.

One of the major market driving factors in the global Home Fragrance Market is the rising perception of healthy lifestyles in developing countries. Rapid innovation in-home care goods, as well as an increase in demand for personalized scented candles, especially during festivals, contribute to market growth. Rising disposable income, which leads to an increase in consumer preference for various types of home fragrance items, is another factor driving the global Home Fragrance Market’s steady development.

Global Home Fragrance Market Definition

Home fragrances are products that emit perfume to mask unwanted odors in the home. These fragrances aid in stress relief and fatigue reduction. Some of the most common fragrances among consumers are floral, fantasy, fruity, new & clean, and gourmand. There are many different types of home fragrance diffusers on the market, including , smart diffusers, essential scented candles, air pockets, and sprays. Also, they are available in a variety of designs, colors, and types, which improve the aesthetics of homes.

The fragrance is a functional ingredient in-home care products that are used to conceal unwanted odors. Home fragrance items are made with various aromas such as eucalyptus, jasmine, and lavender which help to lift one’s spirits and create a stress-free atmosphere. Additionally, home fragrances, such as customizable plug-ins, aromatherapy diffusers, and aromatic candles with platform lids, are some of the creative offerings that have increased their demand among target customers. As a result, one of the main factors driving demand for the Global Home Fragrance Market is the expanded scale of product offerings.

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Global Home Fragrance Market Overview

The fragrance business is no longer limited to perfumes and incense. Fragrances have become an integral part of our daily lives. Fragrances are undergoing a big transition, from personal care items to home and car necessities. The home fragrance industry is gaining traction and evolving into a lifestyle trend, and it is now regarded as a necessary component of our way of life.

The global Home Fragrance Market is really taking off! It's fueled by a few thingscool, new products that look amazing, the ability to get things personalized, and the trend of using natural ingredients. People especially want natural essential oils, which is really boosting the demand for home fragrance. Think about it – fragrance is important for feeling good and staying positive! Right now, people are super connected to their homes, and they want to create a special, memorable, and relaxing vibe with home fragrances. That's a big reason why the whole industry is growing so fast.

Additionally, the growing customer demand for removing unpleasant odors as well as fresh and exclusive fragrances has driven market growth. The rising consumer perception of the negative effects of synthetic fragrances, such as headaches, dizziness, nausea, respiratory distress, and others, is expected to hamper the Home Fragrance Market growth. Toxins found in home fragrance products such as ethanol, formaldehyde, phenol, and alcohol, among others, are expected to Home Fragrance Market development. Home fragrance products are expensive, which is limiting business development and is expected to restrain market growth.

Manufacturers are increasingly concentrating on the development of creative home fragrance products that can be operated remotely via a smartphone. This provides an opportunity for manufacturers to produce cutting-edge products that will propel market growth.

Global Home Fragrance Market Segmentation Analysis

The Global Home Fragrance Market is segmented on the basis of Product, Distribution Channel, and Geography.

Home Fragran ce Market, By Product

  • Sprays
  • Diffusers
  • Candles
  • Others

Based on Product, the market is segmented into Sprays, Diffusers, Candles, and Others. The spray was the global market leader in 2018. Sprays are less expensive than other product styles and come with a variety of scents, including lavender, jasmine, and rose, as well as different features to meet the varying needs of customers. Candles will grow the most, followed by diffusers in the Home Fragrance Market. The potential of fragrant candles to meet the need for a fragrance for special occasions is driving up demand for them.

Home Fragrance Market, By Distribution Channel

  • Supermarkets & Hypermarkets
  • Convenience Stores
  • Online

So, when it comes to where people buy things, the market's divided into Supermarkets & Hypermarkets, Convenience Stores, and buying things Online. Back in 2018, Supermarkets and Hypermarkets were the most popular. And that's still going strong, mostly because you can actually see the product before you buy it, which helps you decide. Plus, there's usually someone there to help you pick the right thing. But don't count out the online world! It's set to blow up as companies team up with online giants or even launch their own online shops to reach more customers. Think of it – companies are working with giants like Alibaba, Amazon, and Walmart to sell more!

Home Fragrance Market, By Geography

  • North America
  • Europe
  • Asia Pacific
  • Rest of the world

So, when we look at where home fragrances are popular around the globe, we can break it down by geography into North America, Europe, Asia Pacific, and, well, the Rest of the world. Interestingly, back in 2018, Europe was the biggest market. Places like the United Kingdom and France are really driving that regional demand. Why? Probably because folks there have a higher standard of living and more buying power, leading them to splurge on things like nice-smelling homes. Plus, there are just tons of sellers and producers in Europe, so supply is up! But keep an eye on the Asia Pacific area – it's predicted to be the fastest-growing regional market, thanks to increased awareness, growing disposable incomes, and people actually caring about their indoor air quality.

Key Players

The “Global Home Fragrance Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Reckitt Benckiser, Procter and Gamble, Seda France, Inc., S. C. Johnson & Son, Inc., Voluspa, Newell Brands, 3M company, Scent Air, Esteban Paris, Korona Candles S.A.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Report Scope

REPORT ATTRIBUTESDETAILS
STUDY PERIOD

2021-2031

BASE YEAR

2024

FORECAST PERIOD

2024-2031

HISTORICAL PERIOD

2021-2023

UNIT

Value (USD Billion)

KEY COMPANIES PROFILED

Reckitt Benckiser, Procter and Gamble, Seda France, Inc., S. C. Johnson & Son, Inc., Voluspa, Newell Brands, 3M company, Scent Air.

SEGMENTS COVERED
  • By Product
  • By Distribution Channel
  • By Geography
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