USD 13.30 billion
Report ID:
SQMIG25Z2015 |
Region:
Global |
Published Date: October, 2024
Pages:
161
|Tables:
95
|Figures:
72
Global Air Freshener Market size was valued at USD 13.30 billion in 2022 and is poised to grow from USD 14.04 billion in 2023 to USD 21.72 billion by 2031, growing at a CAGR of 5.60% during the forecast period (2024-2031).
Evolving consumer preferences, advancements in retail technologies, and growing availability of novel air fresheners are expected to boost air freshener market development in the future. Rapid urbanization and growing disposable income of people around the world are also forecasted to uplift sales of air freshener in the future. Developed countries are projected to be more opportune for air freshener providers as compared to developing countries at present, however, the trend is projected to flip by the end of the forecast period. Launch of new air freshener with organic fragrances and no synthetic chemicals will also present new opportunities for market players going forward. Increasing popularity of aromatherapy is also estimated to bolster the sales of air freshener in the future. Wide use of air fresheners in commercial and industrial settings will also provide lucrative revenue generation opportunities for market players. However, concerns regarding chemical ingredients, availability of alternatives, and short product lifespan are slated to be key constraints for market development in the long run.
Global Market Size
USD 13.30 billion
Largest Segment
Electric Air Fresheners
Fastest Growth
Scented Candles
Growth Rate
5.60%
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Global Air Freshener Market is segmented into Product, Distribution Channel, Application, and Region. By Product, the market is classified into Sprays/Aerosols, Electric Air Fresheners, Gels, Scented Candles, and Others. Depending on the Distribution Channel, it is categorized into Hypermarkets/Supermarkets, Convenience Stores, Online Retailers, and Other Distribution Channel. According to Application, the market is divided into Residential, Commercial, and Automotive. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa
Analysis by Product
Aerosol air fresheners are projected to account for a dominant share of the global market. High popularity and prolonged use by the perfume industry of aerosol sprays is what has helped this segment maintain its high market share. Consumer preferences and growing launches of new aerosol air fresheners around the world are also expected to help the dominance of this segment. However, the highly flammable nature of aerosol air fresheners is expected to reduce its market share to a certain extent by the end of the study period.
On the other hand, the demand for gel air fresheners is estimated to increase at a notable pace across the study period and beyond. Growing vehicle ownership and rising use of gel-based air fresheners in these vehicles is expected to create new opportunities for market players going forward. Moreover, the growing availability of novel gel-based air fresheners for home and commercial applications is also creating new opportunities for market growth via this segment. Launching new fragrances will be a common strategy for any air freshener product in the future.
Analysis by Distribution Channel
Hypermarkets/supermarkets are projected to account for a dominant share of the global air freshener demand outlook. Rapidly increasing investments in retail infrastructure and growing availability of multiple air freshener products in these establishments allows this segment to lead market growth. Customers can choose from a wide variety of air fresheners while experiencing their fragrance in hypermarkets, which makes it easy for them to make a purchase thereby helping this segment bring in more revenue than other distribution channels.
On the other hand, the demand for air fresheners via online markets is projected to increase at an impressive pace going forward. Rising preference for online shopping around the world and increasing availability of multiple air fresheners at discounted prices are helping this segment become the most opportune one in the future. Growing digitization and increasing internet penetration coupled with preference for shopping from convenience of home are also expected to help this segment generate more business opportunities for air freshener companies in the long run.
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Europe is projected to account for a dominant share of the global air freshener market. Evolving standards of living and the presence of key air freshener companies in this region allows it to hold a dominant stance. High consumer spending potential, growing popularity of aromatherapy, and rising availability of multiple air freshener products are also expected to help generate more revenue for air freshener companies operating in this region. Presence of a strong personal care industry also helps the dominance of Europe with Germany, France, and the United Kingdom emerging as top markets for air freshener suppliers over the coming years.
The Asia Pacific region is projected to emerge as the fastest-growing market for air freshener companies in the world. Rapid urbanization, evolving consumer preferences, and rising disposable income are projected boost sales of air freshener in the Asia Pacific region going forward. China and India are the top markets for air freshener companies owing to rising air pollution in these countries and presence of a large consumer base as well. Japan, Malaysia, South Korea, and Indonesia are also highly opportune markets for air freshener providers in this region. Booming e-commerce activity will also favor sales of air fresheners in Asian countries through 2031.
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Drivers
Growing Urbanization and Changing Consumer Preferences
Growing Availability of Novel Air fresheners
Restraints
Use of Chemical Ingredients
Availability of Alternatives
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Air freshener companies should focus on using natural ingredients in their products to appeal to the eco-conscious consumer base. Use of sustainable manufacturing and packaging practices will also help air freshener companies stand out from the competition. Introducing more natural fragrances will also help air freshener providers maximize their business scope in the future.
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, evolving consumer preferences and rising availability of novel air freshener products are estimated to drive market growth. On the contrary, the availability of alternatives and use of chemical ingredients is forecasted to impede air freshener market development in the future. Europe is estimated to emerge as the largest regional market for air freshener companies owing to high consumer spending potential and presence of a strong personal care industry. Use of natural and organic ingredients to create natural fragrances will offer lucrative opportunities for air freshener companies in the long run.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 13.30 billion |
Market size value in 2031 | USD 21.72 billion |
Growth Rate | 5.60% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Air Freshener Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Air Freshener Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Air Freshener Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Air Freshener Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG25Z2015
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