About Home Fragrance
Home fragrance is referred as a functional ingredient in home care products to hide unpleasant odors. Home fragrances are becoming an essential item in several households owing to their properties of creating a favourable environment at homes. These products are made up of various types fragrances such as lavender, jasmine, eucalyptus and others that help to liven up the mood of the consumers, thereby creating a stress free environment. The market of the home fragrance is increasing due to the rising discretionary income in developing region, while the market may also hinder due to the presence of some of the harmful chemicals in the various home fragrance products
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.9% |
The home fragrance market is welcoming, but competition is present. By identifying your unique selling proposition and target audience, you can carve out a fragrant space for yourself.The Vendors having a strong hold in the market are 3M Company. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Home Fragrance market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
3M Company (United States), Firmenich (Switzerland), Arechipelago (United States), Takasago International Corporation (Japan), Johnson SC (United States), Mane (France), Nest (United States), Gold Canyon (United States), Sedafrance (United States), Northern lights (United States), Illume (United States), Virginia candle company (United States) and Paddywax (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Voluspa (United States), Newell Brands (United States), P&G (United States) and Allure Home Fragrance (United States).
Segmentation Overview
AMA Research has segmented the market of Global Home Fragrance market by Type (Sprays/aerosol, Air fresheners, Candles and Others), Application (Department Stores, Specialist Stores and Specialist Online) and Region.
On the basis of Type, Sprays/aerosol are dominating the market in the year 2023 where as Air fresheners stood as second largest market share.
On the basis of geography, the market of Home Fragrance has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. If we see Market by Distribution Channel, the sub-segment i.e. Specialty Retail Stores will boost the Home Fragrance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Fragrance, the sub-segment i.e. Rose will boost the Home Fragrance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Wide-scale consumer awareness coupled with product modifications and Manufacturers are experimenting drastically with fragrances in order to pacify consumer preferences in this market
Market Growth Drivers:
Growing demand for natural essential oils in home fragrance products and Rising discretionary income leading to increasing inclination of consumers towards various types of home fragrance products
Challenges:
Compliance with quality & regulatory standards and Use of chemical ingredients in the fragrance product may harm human health
Restraints:
Environmental concern due to harmful gas that release out of deodorant spray which is responsible for the ozone layer depletion
Opportunities:
Growing middle class population contributing to the growth of the home fragrance industry and Various offers and discounts offered seasonally
Market Leaders and their expansionary development strategies
In August 2022, Air Wick, a major air freshener brand, partnered with Yankee Candle, a well-known home fragrance company, to co-launch a line of wax melts
In November 2022, P&G, a consumer goods giant, launched its Febreze Odor Defense laundry booster
Key Target Audience
Home Fragrance Manufacturer, Sub component of Home Fragrance manufacturer, Channel partners, Industry association, Downstream vendors, Government and investment communities and Research organisation and associations
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.