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Home Fragrance Market Value Is Estimated to Reach USD 28.13 BN By 2028, With 5.50% CAGR – Credence Research

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Home Fragrance Market Value Is Estimated to Reach USD 28.13 BN By 2028, With 5.50% CAGR – Credence Research

August 17
19:32 2022
Home Fragrance Market Value Is Estimated to Reach USD 28.13 BN By 2028, With 5.50% CAGR - Credence Research
The key players in the global Home Fragrance market in terms of value and volume include P & G, Reckitt Benckiser, S. C. Johnson & Son, Inc., Scent Air, Procter and Gamble, Seda France, Inc, Newell Brands, 3M company, Esteban Paris, and Henkel.

The latest market report published by Credence Research, Inc. is “Global Home Fragrance Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028″. The Global Home Fragrance Market generated revenue of around USD 23.7 billion in 2021 and is anticipated to grow a CAGR of over 5.50% during the forecast period from 2022 to 2028 to reach around USD 28.13 billion in 2028. While, cumulative growth opportunity presented by the global Home Fragrance is around USD 4.43 billion during 2022 to 2028.

Changing consumer preferences for pleasant aroma in their surroundings is a critical factor responsible for market growth, as is increased awareness about healthy lifestyle in developing countries, rapid innovation in home care products, and growing demand for customised scented candles, particularly during festivals, among other factors driving the home fragrances market. Furthermore, an increase in research and development activities, as well as technological advancements and modernization in manufacturing techniques, will create new opportunities for the home fragrances market during the forecast period. Furthermore, consumers are currently developing a strong emotional connection with their homes, which has increased the demand for home fragrances to create a personal, memorable, and relaxing environment. Additionally, the growing consumer demand for eliminating unpleasant odours and new and unique fragrances has fueled market growth. However, rising consumer awareness of the negative effects of synthetic fragrances, such as headaches, dizziness, nausea, respiratory distress, and others, is expected to stymie the home fragrance market forecast’s growth.

Home Fragrance Market Opportunities

The home fragrance market is projected to grow from USD 23.7 billion in 2021 to USD 28.13 billion by 2028 at a CAGR of 5.50%.

Some reasons for the growth of the home fragrance market include the increasing awareness about fragrances and their health benefits, as well as the growing trend of using natural ingredients in cosmetics and personal care products. Additionally, there is a rise in luxury home fragrance brands targeting high-end consumers. Some challenges facing the home fragrance market include counterfeiting and lack of transparency in product labeling.

Want to know more about the global Home Fragrance Market? – https://www.credenceresearch.com/report/home-fragrance-market

Home Fragrance Market Scope in North America

In North America, the market for home fragrance products is estimated to be worth $3.2 billion in 2021. This market is expected to grow at a CAGR of 5.4% over the next five years. Home fragrance products are becoming increasingly popular as they provide a sense of well-being and can improve the quality of life for people living in apartments, condos, or single-family homes.

The main drivers behind this growth are the increasing popularity of air fresheners and fragrances as standalone products and the growing trend of using home fragrance products as part of a wellness lifestyle. In addition, technological advancements are providing new ways to deliver scents in the home, such as through scent cartridges or atomizers.

Some leading brands in this market include P & G, Lancome, Reckitt Benckiser, S. C. Johnson & Son, Inc., Estee Lauder, Scent Air, Procter and Gamble, Seda France, Inc, Newell Brands, 3M company, Coty, Esteban Paris, and Henkel. These companies are aggressively expanding their reach into new markets and developing new products that appeal to a wider range of consumers. They are also investing in marketing campaigns targeting specific demographics (such as women), helping to drive sales growth across all channels.

Key players in Home Fragrance Market

The home fragrance market is lucrative, with an annual growth rate of over 10%. This is mainly because people are increasingly turning to fragrances to enhance the quality of their lives.

This market has a few key players, and each has developed a unique product line. Here are the top three:

1. Lancome – This company is well known for its high-quality perfumes and produces a range of home fragrance products. These include candles, room sprays, and body lotions.

2. Estee Lauder – Another well-known player in the home fragrance market, Estee Lauder produces perfumes and skincare products. Its bestselling products include candles, room sprays, and body lotions.

3. Coty – This company produces a wide range of fragrances, including candles, room sprays, body lotions, and perfumes. It is especially well known for its lip balms and body lotions.

Home Fragrance Market Restraints

– Traditional Methods Aren’t Working Anymore

Traditional methods aren’t working anymore to keep up with the demand. This is because people are becoming more conscious of their health and looking for fragrances that don’t contain harmful chemicals. As a result, companies are starting to create natural and organic fragrances instead of synthetic ingredients.

Here are some of the constraints that companies face when creating natural and organic fragrances:

-Cost: Creating a natural or organic fragrance costs more than creating a synthetic fragrance. This is because organic ingredients must be sourced from sustainable sources and often require more time to develop a strong scent.

-Fragrance throw: Natural and organic fragrances tend to have lower fragrance throw than synthetic fragrances. This means they will only be detectable when you apply them directly to your skin rather than filling a room with their scent.

-Aroma complexity: Natural and organic fragrances tend to have a more simplistic aroma than synthetic fragrances.

The global Home Fragrance market is bifurcated into Product, Distribution, and Geography. Based on product, the market is categorized into sprays, diffusers, candles, and others. On the basis of distribution channel, the global market is segmented into supermarkets & hypermarkets, convenience stores and online. Based on geography, the market is segmented as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Why to Buy This Report-

  • The report provides a qualitative as well as quantitative analysis of the global Home Fragrance market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, base year- 2021, and forecast period 2022-2028.
  • The report contains information related to the competitive landscape, like how the key players in the market are operating at a global, regional, and country level.
  • In-depth analysis of the global market segmentation on the product and distribution channel.
  • The global Home Fragrance market report also includes the analysis of the market at a global, regional, and country level along with key market trends, major players analysis, market growth strategies, and key application areas.

Table Of Content:

1. Preface

1.1. Report Description

1.1.1. Purpose of the Report

1.1.2. Target Audience

1.1.3. USP and Key Offerings

1.2. Research Scope

1.3. Research Methodology

1.3.1. Phase I – Secondary Research

1.3.2. Phase II – Primary Research

1.3.3. Phase III – Expert Panel Review

1.3.4. Approach Adopted

1.3.4.1. Top-Down Approach

1.3.4.2. Bottom-Up Approach

1.3.5. Assumptions

1.4. Market Segmentation

2. Executive Summary

2.1. Market Snapshot: Global Home Fragrance Market

3. Market Dynamics & Factors Analysis

3.1. Introduction

3.1.1. Global Home Fragrance Market Value, 2016-2028, (US$ Bn)

3.2. Market Dynamics

3.2.1. Key Growth Trends

3.2.2. Major Industry Challenges

3.2.3. Key Growth Pockets

3.3. Attractive Investment Proposition,2021

3.3.1. Type

3.3.2. Distribution Channel

3.3.3. Geography

3.4. Porter’s Five Forces Analysis

3.4.1. Threat of New Entrants

3.4.2. Bargaining Power of Buyers/Consumers

3.4.3. Bargaining Power of Suppliers

3.4.4. Threat of Substitute Types

3.4.5. Intensity of Competitive Rivalry

3.5. Value Chain Analysis

4. Market Positioning of Key Players, 2021

4.1. Company market share of key players, 2021

4.2. Top 6 Players

4.3. Top 3 Players

4.4. Major Strategies Adopted by Key Players

5. COVID 19 Impact Analysis

5.1. Global Home Fragrance Market Pre Vs Post COVID 19, 2019 – 2028

5.2. Impact on Import & Export

5.3. Impact on Demand & Supply

6. North America

6.1. North America Home Fragrance Market, by Country, 2016-2028(US$ Bn)

6.1.1. U.S.

6.1.2. Canada

6.1.3. Mexico

6.2. North America Home Fragrance Market, by Type, 2016-2028(US$ Bn)

6.2.1. Overview

6.2.2. Sprays

6.2.3. Diffusers

6.2.4. Candles

6.2.5. Others

6.3. North America Home Fragrance Market, by Distribution Channel, 2016-2028(US$ Bn)

6.3.1. Overview

6.3.2. Supermarkets & Hypermarkets

6.3.3. Convenience Stores

6.3.4. Online

6.3.5. Others

7. Europe

…….

8. Asia Pacific

…….

9. Latin America

…….

10. Middle East

……

11. Africa

…..

12. Global

12.1. Global Home Fragrance Market, by Type, 2016-2028(US$ Bn)

12.1.1. Overview

12.1.2. Sprays

12.1.3. Diffusers

12.1.4. Candles

12.1.5. Others

12.2. Global Home Fragrance Market, by Distribution Channel, 2016-2028(US$ Bn)

12.2.1. Overview

12.2.2. Supermarkets & Hypermarkets

12.2.3. Convenience Stores

12.2.4. Online

12.2.5. Others

13. Company Profiles

13.1. P & G

13.2. Reckitt Benckister

13.3. S. C. Johnson & Son, Inc.

13.4. Scent Air,

13.5. Seda France, Inc

13.6. Newell Brands

13.7. 3M company

13.8. Esteban Paris

13.9. Henkel

13.10. Others

………………..

Let’s learn more about this opportunity with free sample –  https://www.credenceresearch.com/report/home-fragrance-market

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