The Home Fragrance Global Market Report 2023 by The Business Research Company, provides home fragrance market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Home Fragrance Global Market Report 2023, the market size will grow from $7.06 billion in 2022 to $7.7 billion in 2023 at a compound annual growth rate (CAGR) of 9.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global home fragrance is expected to grow to $10.72 billion in 2027 at a CAGR of 8.6%.
The increasing demand for natural essential oils in home fragrance products is expected to propel the growth of the home fragrance market. The use of natural essential oils is becoming increasingly popular as people place a greater emphasis on their health and well-being, as well as a favorable impression of aromatherapy. It is classified as a supplemental medicine that is used to improve one’s health and well-being.
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The home fragrance market is segmented:
1) By Product Type: Candles, Room Sprays, Reed Diffuser, Essential Oils, Incense Sticks
2) By Fragrances: Lemon, Lavender, Jasmine, Rose, Sandalwood, Vanilla, Other Fragrances
3) By Distribution Channel: Supermarkets And Hypermarkets, Online Stores, Convenience Stores, Other Distribution Channels
4) By Form: Liquid, Dry, Solid
5) By End-User: Home Care, Healthcare, Hospitality, Museums, Commercial, Other End-Users
Technological innovations are shaping the home fragrance market. Technological innovations are the discovery of knowledge that advances technology. For instance, in February 2021, Glade, an American brand of household air fresheners owned by S. C. Johnson & Son, launched a new energy-efficient PlugIns Scented Oil PLUS, a device with a new smart-light technology to make it work more efficiently in homes. This device is used to fill any room with Glade’s popular and seasonal fragrances and with its rest mode, this scented oil warmer allows people to save energy and fragrance at the same time. In another instance, in December 2021, Pura, a US-based innovative smart home fragrance technology company, partnered with Kenneth Cole for the development of two new smart home scent diffuser brands, “Aim to Teas” and “Go Fig-ure.” Pura utilized scientific tools to relate perfumes with well-being while producing these aromas, giving them a wholly new sensation and deeper significance.
The home fragrance market report table of contents includes:
1. Executive Summary
2. Home Fragrance Market Characteristics
3. Home Fragrance Market Trends And Strategies
4. Home Fragrance Market – Macro Economic Scenario
5. Home Fragrance Market Size And Growth
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26. Africa Home Fragrance Market
27. Home Fragrance Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Home Fragrance Market
29. Home Fragrance Market Future Outlook and Potential Analysis
30. Appendix
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