The global Home Fragrance Market size is expected to reach USD 7.96 billion by 2026, exhibiting a CAGR of 4.6% during the forecast period. Rising urban population is anticipated to emerge as the key factor driving the growth of this market, The UN Department of Economic and Social Affairs (DESA) estimates that presently, nearly 55% of the world’s population lives in urban areas. By 2050, the DESA projects, close to 68% of the global population will inhabit urban areas, adding 2.5 billion urban dwellers across the globe. Enlarging urban areas are hubs for pollution, heat, and unpleasant smells. Residential air fresheners provide relief from these nuisances and therefore, their demand is set to spike in the forthcoming years. These products are available in different fragrances derived from natural extracts such as fruits and flowers, which further incentivizes their purchase value for urban residents.
List of Top Players Covered:
• ScentAir Technologies, LLC
• Voluspa
• Seda France Inc.
• Newell Brands, Inc.
• Jo Malone London Inc.
• KORONA Candles Sp. z o.o.
• C. Johnson & Son, Inc.
• NEST Fragrances
• Procter & Gamble Co.
• Reckitt Benckiser Group plc
According to the home fragrance market report, the value of this market stood at USD 5.61 billion in 2018. The report additionally shares the following information:
• 360-degree analysis of the market drivers and restraints and their influence of the share, size, and overall growth of the market;
• Comprehensive research into the regional and competitive dynamics of the market;
• In-depth study of each and every market segment; and
• Precise projections of the upcoming trends and prospects for the market.
Gain More Insights into the Home Fragrance Market Research Report: https://www.fortunebusinessinsights.com/home-fragrance-market-102422
Regional Analysis
Asia-Pacific to Showcase Speediest Growth; North America to Command the Market Share
With a revenue generation of USD 1,898 million in 2018, North America is poised to decidedly lead the home fragrance market share during the forecast period. Increasing demand for commercial and residential spaces in the US and Canada is anticipated to be the central growth driver for the market in this region.
Asia-Pacific is expected to be the fastest-growing region in this market, states the home fragrance market research, on account of growing urban population and rising disposable income, especially in India and China. In addition to these, development in the organized retail sector in this region will further support the expansion of the market.