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The Air Care Market size is projected to increase by USD 4,594.12 million and the market size is estimated to grow at a CAGR of 5.65% between 2022 and 2027. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
The growth of the market depends on several factor including the thriving fragrance industry, heightened consumer spending on homecare products, and the introduction of innovative air freshener dispenser designs. Furthermore, market growth is influenced by various factors, such as the threat posed by counterfeit products, health concerns related to air fresheners, and consumer price sensitivity.
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The flourishing fragrance industry is a driving trend in the air care market. Over the last five years, the fragrance sector has experienced steady growth. Increased demand from customers for enriched perfumes, coupled with an increased reliance on aromachology for stress reduction, has played a pivotal role in driving the demand for fragrances. The shift in consumption patterns to premium products, which reveals an increasing standard of life for consumers, is being driven by rising disposable income in fast-growing economies like India and China. The high demand for customized home fragrances enriched with natural ingredients plays a vital role in driving the revenue inflow of the global fragrance market. Hence, the growth of the fragrance industry is further expected to increase the demand for air care products which in return fuel the growth of the air care market during the forecast period.
The high adoption of smart air freshener dispensers is a primary trend in the air care market. Smart air freshener dispensers, which are easy to use and effective in maintaining the freshness and cleanliness of interior spaces, are becoming more and more sought after. Smart air freshener dispensers are a relatively new product in the market, and the demand for these products has increased in recent years to improve the quality and scent of the air in indoor spaces. These devices offer several advantages over traditional air freshener dispensers.
Additionally, the COVID-19 pandemic heightened concerns about cleanliness and hygiene, because it resulted in increased demand for products such as air fresheners that help maintain a clean and fresh indoor environment. Thus, the demand for smart air freshener dispensers will likely grow as more consumers become aware of their benefits and the technology continues to improve, which will positively impact the growth of the global air freshener disperser, which will further fuel the growth of air care market during the forecast period.
The threat of counterfeit products is a major challenge in the air care market. In recent years, the growing availability of a number of fake products has made it difficult to grow the world aircare market. Counterfeit products generally have the same packaging and features as established brands and are sold at lower prices than branded products through online retail channels and unauthorized distributors, particularly in price-sensitive markets such as China and India. Consumers who purchase counterfeit products without being aware of product authentication blame genuine brands if the duplicate products purchased malfunction, and this damages the brand reputation of genuine, reliable firms.
As a large number of consumers prefer products with low price tags, counterfeiting is on the rise in recent years. Counterfeiters were also able to sell their goods free of a prior review or inspection, thanks to the Digital Age. Therefore, the presence of numerous counterfeit products can lead to market fragmentation, which can lead to the lack of price standardization, an uneven competitive scenario, and the erosion of the market share of established vendors.
The market share growth by the offline segment will be significant during the forecast period. Offline distribution channels accounted for the largest share of the global aircare market in 2022. Hypermarket supermarkets, discount stores, and other retailers are also included in the offline distribution channel.
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The offline segment was valued at USD 6,902.66 million in 2017 and continued to grow until 2021. Hypermarkets and supermarkets usually offer various air freshener dispensers with different fragrances, styles, and price points. This variety allows customers to choose from a wider range of options, which can lead to increased sales. Supermarkets often run promotions and discounts on various household products, including air freshener dispensers. The development of an organized retail sector has increased the visibility of such consumer goods, which will boost the growth of the segment in the air care market during the forecast period.
The Air Care market is segmented into subcategories, including Air Freshener Sprays, Electric Air Fresheners, Car Air Fresheners, Air Freshener Gels, and Others.
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC holds a significant share of the global air care market. The APAC region is gradually emerging as a dominant player in the global air care market. With its rapidly growing population, rising income levels, and increasing urbanization, APAC offers immense potential for the air care sector. This region's growth is expected to witness significant growth in the upcoming years and offers good business opportunities for air transport operators. Increasing awareness of indoor air pollution among consumers is a major driver for the Air Care Market in APAC. As people become more educated about the health risks associated with air pollution, the demand for air care products such as air fresheners, air purifiers, and aromatic candles is on the rise.
Various industrial sectors in different countries of the region came to a near standstill following the outbreak of COVID-19 in 2020. However, in 2021, with the availability of COVID-19 vaccines and vaccination drives undertaken by governments in countries like India, China, or Japan, business and industry activities relating to production units for air care products have once again resumed following a relaxation of strict lockdown restrictions. Moreover, the increasing industrialization and urbanization in countries like China and India, strict government regulations, and initiatives to improve the quality and scent of the air in indoor spaces such factor will create demand for air care products which in return is expected to fuel the growth of the regional air care market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The air care market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Air Care Market Scope |
|
Report Coverage |
Details |
Page number |
164 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.65% |
Market growth 2023-2027 |
USD 4594.12 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.25 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 41% |
Key countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Air Delights Inc., Church and Dwight Co. Inc., Dabur India Ltd., Dyson Group Co., Eureka Forbes Ltd., Farcent Enterprise Co. Ltd., Fellowes Inc., Godrej Consumer Products Ltd., Guangzhou Haike Electronics Technology Co. Ltd., Hamilton Beach Brands Holding Co., Henkel AG and Co. KGaA, KENT RO Systems Ltd., Kobayashi Pharmaceutical Co. Ltd., M S George Ltd, MidasCare Pharmaceuticals Pvt. Ltd., N Ranga Rao and Sons Pvt. Ltd., Newell Brands Inc., Reckitt Benckiser Group Plc, S.C. Johnson and Son Inc., and The Procter and Gamble Co. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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