Growth of Air Freshener Market Trends, Share, Industry Size, Opportunities
Posted by DenMark on April 27th, 2018
“Air Freshener Market: Global Demand Analysis & Opportunity Outlook 2024”
Global Air Freshener Market Overview
Air freshener is a product which is used to mask unpleasant odor by emitting fragrance. Air fresheners are composed of various chemicals such as formaldehyde, petroleum distillates and dichlorobenzene and aerosol propellants. These chemicals counteract the unpleasant odor and fill the indoor area with pleasant smell. Traditional and old air fresheners, consisting of hazardous chemicals, are being replaced by new and natural fresheners. Air fresheners are used at house, corporate offices, malls, public restroom and hotels. Further, it has also its usage in automobiles which have augmented the market of air fresheners exponentially. Different kind of air freshener products available in the market such as spray air freshener, electric air freshener, gel air freshener and candle air freshener are yet another factor that has led to the rise in the demand of global air freshener market. Further, rising inclination towards the natural air freshener and growing vogue of aromatherapy gives opportunity to the major air freshener companies to operate in the market. Apart from this, increasing disposable income of the middle class population and rising concern for the air quality has led to demand for air freshener all across the globe.
The companies are emphasizing on various business strategies in order to expand their business in air fresheners which is anticipated to strengthen the market share of the companies in the overall air freshener market during the forecast period. On 19 February, 2015, P&G, a major air freshener company announced the unstoppable series of air freshener which are long lasting, home and fabric care products. Moreover, on 2nd May, 2015, S.C. Johnson announced the acquisition of Home Brands AS.
Market Size and Forecast
The Global Air Freshener Market is expected to reach USD 14.2 billion in 2024. Further, the market is anticipated to grow at a CAGR of 2.97 % between 2017 and 2024. Regionally, Europe dominated the global air freshener market and is anticipated to continue its dominance over the forecast period. Rise in the disposable income and improving standard of lifestyle are the major factor driving the growth of air freshener market.
North America holds the second largest air freshener market and is anticipated to witness significant growth over the forecast period. The major factor driving the market growth of North America region is the availability of different and innovative air fresheners such as automatic air freshener and candles freshener. Asia-Pacific is anticipated to be most lucrative market and expected to witness a CAGR of 7.94% over the forecast period. This can be attributed to various factors such as upgraded lifestyle of addressable population and rising population in countries like China and India.
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Air Freshener Market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
Western and Eastern Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth & Opportunity Analysis
Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, South Korea & Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis
Middle East and North Africa (MENA) Market Size and Y-O-Y
Growth & opportunity Analysis
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Growth Drivers and Challenges
Rising disposable income coupled with improving lifestyle of the customer are the major factors driving the growth of global air freshener market. Further, the boost in global air freshener market is because of increasing disposable income and rising concern of people about quality of air. Additionally, the inventions of new variety of air freshener product and ease of availability of these products are anticipated to be the dynamic factor behind the growth of global air freshener market. However, limited resources can restraint the market growth over the forecast period. Moreover, use of substitute products is believed to further dampen the growth of global air fresher market over the forecast period.
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About the AuthorDenMark
Joined: September 16th, 2017
Articles Posted: 265
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