Home fragrances products include sprays sachets electric air fresheners scented gels scented candles reed diffusers wax melts potpourri and others. home fragrances market analysis considers sales from both online and offline distribution channel. Our analysis also considers the sales of home fragrances in Europe, North America, South America, and MEA. In 2018, the offline segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the expansion of specialty stores, hypermarket, supermarkets, convenience stores, and clubhouse stores, as well as department stores, will play a significant role in the offline segment to maintain its market position. Also, our global home fragrances report also looks at factors such as flourishing fragrance industry, construction of new residential buildings, diversified product portfolio of key vendors. However, the presence of counterfeit products, the harmful impact of home fragrance ingredients, the criticality of inventory management and product sourcing may hamper the growth of the home fragrances industry over the forecast period.
Global Home Fragrances Market: Overview
Diversified product portfolio of key vendors
Currently, vendors operating in the global home fragrances market offer a wide range of products such as home fragrances sprayers, sachets, candles, and diffusers. Many vendors are producing fragrances enriched with natural essential oils and have anti-bacterial, anti-viral, and anti-fungal properties. The introduction of such advanced air diffusers and design innovations are expected to lead to product premiumization thereby contributing to the expansion of the global market at a CAGR of almost 5% during the forecast period.
Increasing emergence of customized home fragrance candles
Customization of home fragrance candles has emerged as the latest trend in the global home fragrances market. Vendors are offering the extra benefit of designing the candles according to the unique taste and preferences of individual buyers. Moreover, customers have the freedom to choose the shape, size, color, texture, and fragrances of candles as per the occasion for which it is required. The freedom to design candles helps manufacturers to expand their product portfolio and cater to the buying preference of consumers. These innovations have a positive impact on the volume of sales and stimulate healthy competition in the market.
For the detailed list of factors that will drive the global home fragrances market during the forecast period 2019-2023, click here.
With the presence of several major players, the global home fragrances market is fragmented. robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading home fragrances manufacturers, that include Henkel AG & Co. KGaA, Newell Brands Inc., Reckitt Benckiser Group Plc, S. C. Johnson & Son Inc., and The Procter & Gamble Co.
Also, the home fragrances market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.