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The home fragrances market share is expected to increase by USD 2.22 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 4.88%.
This home fragrances market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers home fragrances market segmentation by distribution channel (offline and online) and geography (Europe, North America, APAC, MEA, and South America). The home fragrances market report also offers information on several market vendors, including AirEsscentials Inc., Archipelago Inc., Aroma360 LLC, Beaumont Products Inc., Bolsius International BV, Henkel AG and Co. KGaA, Newell Brands Inc., Reckitt Benckiser Group Plc, S. C. Johnson and Son Inc., and The Procter and Gamble Co. among others.
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The flourishing fragrance industry is notably driving the home fragrance market growth, although factors such as the harmful impact of home fragrance ingredients may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the home fragrances industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Home Fragrances Market Driver
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. Growing disposable income in emerging economies such as India and China has led to a shift in consumption patterns toward premium products, which depicts the enhanced standard of living of customers. The demand for fine fragrances and household fragrances (which includes home fragrances) is anticipated to witness strong growth, with the majority of sales happening through offline channels. The high demand for customized home fragrances enriched with natural ingredients plays a vital role in driving the revenue inflow of the global home fragrances market. Hence, the growth of the fragrance industry is further expected to increase the revenue of the global home fragrances market.
Key Home Fragrances Market Challenge
Some home fragrances contain harmful ingredients, such as phthalates, the regular exposure to which can increase the risk of endocrinal, reproductive, and developmental problems. Additionally, the use of home fragrances with certain essential ingredients can also impact the health of buyers. Some essential oils release toxins that can damage the liver, kidneys, and nervous system. Lighting a candle releases highly toxic substances, such as paraffin, which are as harmful as diesel fumes. Candles that have a lead-core wick release heavy metals, such as lead, and can lead to serious health issues, including hormonal disruptions, behavioral problems, and learning disabilities. Such adverse health effects can hamper the growth of the market.
This home fragrances market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the home fragrances market encompasses successful business strategies deployed by the key vendors. The home fragrance market is fragmented and the vendors are deploying growth strategies such as focusing on innovating new products to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The home fragrances market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
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34% of the market's growth will originate from APAC during the forecast period. China is the key market for home fragrances in APAC. Market growth in APAC will be faster than the growth of the market in other regions.
Factors such as the presence of a huge consumer base and the penetration of key vendors will facilitate the home fragrances market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
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The home fragrances market share growth by the offline segment will be significant during the forecast period. Players are expanding their stores in the local and regional markets to fuel sales through offline channels. Home fragrances manufacturers sell their products through specialty stores and other retailing formats, which intensifies market competition. Retailers are introducing new businesses, wider assortments, pricing, and retail strategies to remain competitive. Moreover, consumers widely prefer to smell the fragrance before buying, which also accelerates the sales of home fragrances through offline channels. Such factors will contribute to the growth of the offline segment.
This report provides an accurate prediction of the contribution of all the segments to the growth of the home fragrance market size and actionable market insights on post COVID-19 impact on each segment.
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Home Fragrances Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.88% |
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Market growth 2021-2025 |
$ 2.22 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
8.67 |
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Regional analysis |
Europe, North America, APAC, MEA, and South America |
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Performing market contribution |
APAC at 34% |
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Key consumer countries |
US, China, France, UK, and Brazil |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
AirEsscentials Inc. , Archipelago Inc., Aroma360 LLC, Beaumont Products Inc., Bolsius International BV, Henkel AG and Co. KGaA, Newell Brands Inc., Reckitt Benckiser Group Plc, S. C. Johnson and Son Inc., and The Procter and Gamble Co. |
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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 the forecast period |
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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. |
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Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Distribution channel
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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