Global Air Freshener Market Trends and Opportunity Analysis to 2023
Global Air Freshener Market Analysis:
An air freshener is basically a fragrant-emitting spray that eliminates unpleasant odours. They basically absorb the bad odour and purify the air. Ingredients in the air freshener are usually a mix of aerosol propellants, fragrances, mineral oils, glycerol ethers and 2-butoxuethanol. Demand for air care and maintaining a standard air quality in places like hotels, restaurants, clubs etc keep the air freshener market in vogue. Air fresheners are now also used in cars and in pet shops etc. They are also being used in households individually. Today air fresheners are available in a variety of formats like sprays, gels, candles, etc.
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The global air freshener market was valued at $9 billion in 2016 and is expected to reach $11 billion by 2023, registering a CAGR of 3.0% in the forecast period. Geographically, the market segments are concentrated in North America, Asia Pacific, Europe and LAMEA. Sales of cars in the US and UK, and increase in pet ownership has significantly kept North America and Europe on top of their game in the recent years. According to statistics, 80% of the US population uses air fresheners in their households. The 2016 global air freshener market was dominated by Europe in terms of revenue. In 2017, the total number of air fresheners sold globally was over 30 billion with the aerosol sprays being the largest sellers. This was associated with rising disposable incomes and a want for better standards of living. The new current player though is the electric air freshener which is also the highest selling in US.
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List of Key Players in Global Air Freshener Market:
key players in the market are Procter & Gamble Co., Farcent Enterprise Co. Ltd., Reckitt Benckiser Inc., Henkel KGaA, Car-Freshener Corporation, SC Johnson & Son Inc., Kobayashi Pharmaceutical Co. Ltd., Church & Dwight Co. Inc., Godrej Household Products Ltd., Farcent Enterprise Co. Ltd. and Jarden Corporation.
Despite all the reasons for growth, high operational costs are a cause of concern for the air freshener market. However, companies are focussing on newer alternatives, like the organic air freshener and long-lasting air fresheners. Home décor shops are opting for fancy candles with fancy fragrances. The residential segment is also taking up over 70% of the market share in the recent times and increased retail therapy means the commercial sales are also on a rise. Ease of usage and convenience along with the innovative methods, firms strategize to stay on top of the game with product diversity, hopefully enough to keep the market going for years to come.
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