Air Freshener Market: Current Analysis and Forecast (2022-2028)
$3999 – $6999
Emphasis on Product Type (Sprays/Aerosols, Electric Air Freshener, Gels, Candles, Others); Application (Residential, Commercial, Cars, Others); Distribution Channel (Offline Channels, Online Channels); Region/Country
The air freshener market is expected to register a CAGR of around 4% over the period of 2022-2028. Air fresheners are products that give off scents, usually to mask unpleasant odors in a room. It contains a variety of ingredients that neutralize unpleasant odors, including aerosol propellants, fragrances, and solvents such as 2-butoxyethanol, mineral oils, and glycol ethers. These air fresheners absorb odors and mask odors in the air. Air fresheners are used throughout society. Indoor environments in which air fresheners are used include buildings and facilities such as offices, schools, hospitals, theaters, stores, hotels, gyms, restaurants, and restrooms. Apart from these indoor environments, it is also used in transportation such as airplanes, cars, taxis, buses, trains, terminals, and boats. The growing demand for air fresheners can be attributed to the rising demand for air care and increasing concerns over indoor air quality globally. In addition, a rise in disposable income is also likely to aid the growth of the market in the forecasted period. According to Eurostat, in 2020, due to the impact of the COVID-19 pandemic, household income recorded a very small increase (0.4 %) compared with 2019, while the growth rate in 2021 compared with 2020 was 2.6 %. The changing lifestyle and spending habits across the globe are leading to the growing demand for air fresheners and would contribute to the growth of the market in the forthcoming period as well. Furthermore, the air freshener market is anticipated to grow on account of the rapid growth of car sales, along with the increase in consumers’ willingness to use premium air fresheners and increasing consumer purchasing power. However, some of the restraints in the market including the high cost of production are impeding the growth of this market all over the world.
Car-Freshener Corporation, Church & Dwight Co Inc., Farcent Enterprise Co. Ltd, Godrej Consumer Products Limited, Henkel AG & Co. KGaA, Kobayashi Pharmaceutical Co. Ltd., S.C. Johnson & Son Inc., Procter and Gamble Co, Reckitt Benckiser Group PLC, Newell Brands are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst product, the Sprays/Aerosols category accounted for the majority share in the market in 2020”
Based on the product, the air freshener market is segmented into sprays/ aerosols, electric air fresheners, gels, candles, and others. The sprays/ aerosols segment accounted for a significant market share, and it is estimated that it will grow rapidly during the projected timeframe due to the growing uses of sprays as these sprays emit fragrance in the atmosphere and replace the bad odor in the room. Aerosol sprays have been used for many years but recently their usage has increased tremendously because of ease of use. Increasing demand for air treatment and rising degradation of indoor air quality are some major factors in boosting the segment of the market as sprays /aerosols mask the bad odor very quickly.
“Among application, the residential segment is expected to witness considerable CAGR during the forecast period”
Based on application, the market is fragmented into residential, commercial, cars, and others. The residential segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. Air fresheners are widely used in residential areas for aromatherapy and to improve indoor air quality. Covid 19 helps the residential segment to grow as consumers are at home during pandemics. For a positive and clean environment, the use of air fresheners in the residential area was growing rapidly.
“Among distribution channels, the online channel is expected to witness the considerable CAGR during the forecast period”
Based on distribution channels, the market is bifurcated into offline channels and online channels. The online channels segment accounted for a significant market share and it is estimated that it will grow rapidly during the projected timeframe and benefit the air freshener product manufacturers on a large scale because of its ability to offer a more engaging retail experience, operating efficiency, and ease of use. The increasing number of online stores has strengthened the business of manufacturers. Demand for air fresheners by consumers is increasing as online stores offer special offers on various deodorants.
“Europe to witness significant growth during the forecast period”
For a better understanding of the market dynamics of the air freshener market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. Europe constitutes a major market for the air freshener industry due to the developed retail infrastructure in the region, which facilitates companies to easily produce their products, and make them available to customers and the high disposable income of consumers in Europe allows them to consume superior-quality products.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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|1.4.||Currency used in Report|
|2.1.||Research Process of the Air Freshener Market|
|2.2.||Research Methodology of the Air Freshener Market|
|2.5.||Main Objective of the Air Freshener Market Study|
|5||IMPACT OF COVID-19 ON THE AIR FRESHENER MARKET|
|6||GLOBAL AIR FRESHENER MARKET REVENUE (USD BN), 2020-2028F|
|7.2.||Electric Air Fresheners|
|10.1||NORTH AMERICA AIR FRESHENER MARKET|
|10.1.3||Rest of North America|
|10.2||EUROPE AIR FRESHENER MARKET|
|10.2.6||Rest of Europe|
|10.3||ASIA PACIFIC AIR FRESHENER MARKET|
|10.3.5||Rest of Asia Pacific|
|10.4||REST OF THE WORLD AIR FRESHENER MARKET|
|12||AIR FRESHENER MARKET OPPORTUNITIES|
|13||AIR FRESHENER MARKET TRENDS & INSIGHTS|
|14.1||Demand Side Analysis|
|14.2||Supply Side Analysis|
|15||VALUE CHAIN ANALYSIS|
|16.1.1||Porter’s Five forces analysis|
|17.2.||Church & Dwight Co Inc.|
|17.3.||Farcent Enterprise Co., Ltd|
|17.4.||Godrej Consumer Products Limited|
|17.5.||Henkel AG & Co. KGaA|
|17.6.||Kobayashi Pharmaceutical Co. Ltd.|
|17.7.||S.C. Johnson & Son Inc.|
|17.8.||Procter and Gamble Co|
|17.9.||Reckitt Benckiser Group PLC|
Research Methodology for the Global Air Freshener Market Analysis (2022-2028)
Analyzing the historical market, estimation of the current market, and forecasting the future market of the global air fresheners market were the three major steps undertaken to create and analyze the adoption of air fresheners in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global air freshener market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the air freshener market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the air freshener market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as product, application, and distribution channel. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the air freshener market. Further, we conducted factor analysis using dependent and independent variables such as a rise in disposable income, changes in lifestyles, and spending habits globally. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the air freshener market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global air freshener market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the air freshener market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global air freshener market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global air freshener market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of products, applications, and distribution channels in the global air freshener market.
The main objective of the Global Air freshener Market Study
The current & future market trends of the global air freshener market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the air freshener market in terms of Value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product, application, and distribution channel.
- Define and analysis of the regulatory framework for the air freshener market industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the air freshener market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and Rest of the world.
- Company profiles of the air freshener market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry