News

Jun 09, 2023

Home Fragrance Market to Worth USD 18.8 Billion by 2030

Home fragrance market is segmented based on product type and distribution channel. Based on product type, it is categorized into candles, room sprays, reed diffusers, essential oils, and incense

Home fragrance market is segmented based on product type and distribution channel. Based on product type, it is categorized into candles, room sprays, reed diffusers, essential oils, and incense sticks. The candles segment is further sub-segmented into unscented candles and scented candles. Based on the distribution channel, it is categorized into offline and online. The offline segment is further sub-segmented into supermarkets/hypermarkets and convenience stores- Industry forecast 2023-2030

Westford USA, Aug. 01, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, the Home fragrance market growth can be attributed to several key factors. Consumers are increasingly interested in enhancing their home decor and ambience as people increasingly seek to create a pleasant and welcoming environment in their living spaces.

Browse in-depth TOC on the "Home Fragrance Market"

Pages - 242

Tables - 66

Figures – 75

Manufacturers in the home fragrance market are increasingly emphasizing the development of innovative home fragrance devices equipped with smartphone control capabilities. This emerging trend presents a promising opportunity for manufacturers to introduce advanced products that cater to tech-savvy and convenience-seeking consumers.

Report Scope & Segmentation:

Attributes

Details

Market Size in 2022

USD 13.1 Billion

2030 Value Projection

USD 18.8 Billion

CAGR

5.3%

Forecast Period

2023-2030

Segments Covered

Product Type

Distribution Channel

Regions Covered

North America

Europe

Asia Pacific

Latin America

Middle East and Africa

Prominent Players in the Home Fragrance Market

Procter & Gamble

Reckitt Benckiser Group

Henkel AG & Co. KGaA

L Brands Inc.

Estée Lauder Companies Inc.

Newell Brands Inc.

Yankee Candle Company Inc.

Bath & Body Works Inc.

S.C. Johnson & Son Inc.

Nestlé S.A.

Unilever Group

Church & Dwight Co. Inc.

The Clorox Company

California Scents

The Hershey Company

Glade

Diptyque Paris

Jo Malone London

Molton Brown

Archipelago Botanicals

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Room Sprays Segment is Expected to Grow in the Market Due to their Affordability

Room sprays segment is commanding in the global home fragrance market. The popularity of room sprays can be attributed to their affordability compared to other home fragrance products, making them a budget-friendly option for consumers.

The market in Europe emerged as the leading revenue contributor to the global home fragrance market in 2022, accounting for approximately 35% of the total market share. The region's strong position can be attributed to shifting consumer preferences towards health and well-being.

Candle Segment is Expected to Dominate the Market Due to the Rising Popularity of Scented Candles

The candle segment is expected to grow substantially and emerge as the market leader in the home fragrance market during the forecast period. The rising popularity of scented candles as a favored home aroma solution is one of the key factors contributing to the segment's projected growth.

Regional markets in the Asia Pacific are poised for impressive home fragrance growth, with a projected CAGR of 10.3% from 2023 to 2030. This growth can be attributed to the rapid economic development of emerging economies in the region, such as India, China, and Australia.

A comprehensive analysis of the major players in the home fragrance market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.

Browse summary of the report and Complete Table of Contents (ToC):

https://www.skyquestt.com/report/home-fragrance-market

Key Developments in the Home Fragrance Market

Procter & Gamble added significantly to its Febreze line by introducing Ember, a captivating fragrance featuring a dazzling citrus aroma complemented by accents of exquisite woods in 2022. This sophisticated scent aims to provide consumers with a refreshing and invigorating sensory experience, enhancing the ambience of their living spaces.

Henkel, a prominent consumer goods company, recently announced its strategic plans to create Henkel Consumer Brands. This new entity would consolidate its laundry, home, and beauty care operations. This move reflects Henkel's commitment to streamlining its organizational structure and optimizing efficiency across its diverse product portfolio.

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Key Questions Answered in Home Fragrance Market Report

What specific growth drivers are projected to impact the market during the forecast period?

List the top companies in the market and explain how they have achieved their positions of influence.

In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?

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