CHICAGO, April 5, 2023 /PRNewswire/ -- According to Arizton's latest research report, the home fragrance market will grow at a CAGR of 4.54% from 2022-2028.
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Millennials and Gen Z consumers focus on wellness products to improve their health and homes. Gen Z and millennials desire products tailored to individual needs. Therefore, this creates an opportunity for the market players to deliver products according to consumer needs and contribute to market growth.
Millennials seek transparency and authenticity and embrace individuality. Gen Z and millennial populations desire products tailored to individual preferences. According to a Forbes report, around 23% of consumers would try a more expensive product with a unique aroma. Fragrances, such as saffron and cannabis, meet such demand. Gen Z and millennial populations curate fragrance wardrobes that reflect their personalities and moods.
Furthermore, the populations are more focused on leading a healthy lifestyle and supporting eco-friendly products than previous generations. For instance, essential oils can comprise natural and synthetic fragrances. Therefore, brands that employ 100% natural scents appeal more to consumers. The popularity of home fragrance products among Gen Zs and millennials is anticipated to contribute to the growth of the global home fragrance market in the upcoming years.
HOME FRAGRANCE MARKET REPORT SCOPE
Report Attributes | Details |
Market Size (2028) | USD 11.94 Billion |
Market Size (2022) | USD 9.15 Billion |
CAGR (2022-2028) | 4.54 % |
Base Year | 2022 |
Forecast Year | 2023-2028 |
Market Segmentation | Product, Form, Distribution Channel, and Geography |
Geographic Analysis | North America, Europe, APAC, Latin America, and Middle East & Africa |
Countries Covered | The US, Canada, Germany, the UK, France, Italy, Spain, China, India, Japan, Australia, South Korea, Brazil, Mexico, Argentina, the GCC, and South Africa |
Market Dynamics |
|
Largest Market | North America |
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Leading companies are expected to launch new and advanced products to strengthen their portfolios and cater to the market's requirements. Manufacturers are using multiple business models to capture the market share. For instance, Newell Brands, a global consumer goods organization, launched Friday Collective, a new brand. The brand comprises a comprehensive range of scented candles with several fragrance combinations. However, M&As are the most popular in the global home fragrance market. Home fragrance products help mask odors and help with the mental well-being of consumers. Consumers prefer personalized products. Therefore, this creates huge opportunities for market players to develop products fulfilling consumers' demands.
ADVENT OF AROMATHERAPY CREATING MARKET OPPORTUNITIES
Aromatherapy methods expanded significantly over the past few years, with several consumers using different medicinal therapies, varying from mental health to skincare. Aromatherapy is the practice of employing oils for therapeutic benefits. Lighting a candle is one of the easiest ways to scent a room and create a relaxing environment. Candles can be used to create a soothing atmosphere or in meditation. In addition, they relax the nervous system and reduce anxiety. Essential oils are used in the candle-making process, which benefits consumers' physical and mental health when inhaled. Sandalwood, blue spruce, mandarin, orange, lavender, chamomile, and frankincense are the most common fragrances used. Aromatherapy helps in easing stress, depression, and anxiety and boosts the feeling of relaxation, and improves sleep. Therefore, the increasing adoption of aromatherapy is pushing the demand for home fragrance products in the global market.
RISING PENETRATION OF E-COMMERCE CHANNELS
E-commerce sales have steadily risen for years, and the increase in internet penetration has supported the growth worldwide. Due to the rising disposable incomes and changing lifestyles in several regions, the demand for home fragrances has significantly increased. E-commerce platforms such as Amazon, eBay, and Shopify are gaining huge traction among consumers for purchasing home fragrances such as luxury candles, reed diffusers, room fresheners, etc. E-commerce retailers market artistically designed home fragrances, especially candles with elaborate shapes and sculptural crafting. This has created a spike in consumer interest in purchasing home fragrances and boosted the global industry.
KEY COMPANY PROFILES
- Procter & Gamble
- S.C. Johnson & Son
- Godrej Consumer Products
- Reckitt Benckiser Group
- Newell Brands
- Henkel
- Faultless Brands
- Beaumont Products
- ILLUME
- GALA GROUP
- Voluspa
- Seda France's
- NEST
- The Estée Lauder Companies
- Bougie et Senteur
- Circle E Candles
- Esteban
- Broken Top Brands
- Bridgewater Candle Company
- The Copenhagen Company
- Pure Source India
- Asian Aura
- Odonil
- ScentAir
- P.F. Candle Company
MARKET SEGMENTATION
Product
- Candles
- Room Sprays
- Reed Diffusers
- Essential Oils & Wax Melts
- Incense Sticks & Cones
- Others
Form
- Liquid
- Semi-Solid
- Solid
Distribution Channel
- Supermarkets & Hypermarkets
- Convenience Stores
- Online
- Others
Geography
- North America
- The US
- Canada
- Europe
- Germany
- The UK
- France
- Italy
- Spain
- APAC
- China
- India
- Japan
- Australia
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- The GCC
- South Africa
TABLE OF CONTENT
1 RESEARCH METHODOLOGY
2 RESEARCH OBJECTIVES
3 RESEARCH PROCESS
4 SCOPE & COVERAGE
4.1 MARKET DEFINITION
4.1.1 INCLUSIONS
4.1.2 EXCLUSIONS
4.1.3 MARKET ESTIMATION CAVEATS
4.2 BASE YEAR
4.3 SCOPE OF THE STUDY
4.4 MARKET SEGMENTATION
4.4.1 MARKET SEGMENTATION BY PRODUCT
4.4.2 MARKET SEGMENTATION BY FORM
4.4.3 MARKET SEGMENTATION BY DISTRIBUTION CHANNEL
4.4.4 MARKET SEGMENTATION BY GEOGRAPHY
5 REPORT ASSUMPTIONS & CAVEATS
5.1 KEY CAVEATS
5.2 CURRENCY CONVERSION
5.3 MARKET DERIVATION
6 PREMIUM INSIGHTS
6.1 MARKET OVERVIEW
6.1.1 MARKET TRENDS
6.1.2 MARKET OPPORTUNITIES
6.1.3 MARKET ENABLERS
6.1.4 MARKET CHALLENGES
6.2 SEGMENT OVERVIEW
6.3 COMPETITIVE LANDSCAPE
7 MARKET AT A GLANCE
8 INTRODUCTION
8.1 OVERVIEW
8.1.1 FRAGRANCES
8.2 VALUE CHAIN ANALYSIS
8.2.1 FRAGRANCE INDUSTRY
8.2.2 CANDLE INDUSTRY
8.2.3 RAW MATERIAL SUPPLIERS
8.2.4 MANUFACTURERS
8.2.5 DISTRIBUTORS
8.2.6 END-USERS
9 MARKET OPPORTUNITIES & TRENDS
9.1 PREFERENCE FOR PERSONALIZED SCENTED CANDLES
9.2 FOCUS ON SUSTAINABLE PACKAGING
9.3 ADVENT OF AROMATHERAPY
10 MARKET GROWTH ENABLERS
10.1 PENETRATION OF E-COMMERCE CHANNELS
10.2 POPULARITY AMONG GEN Z & MILLENNIAL POPULATIONS
10.3 RAPID URBANIZATION
10.4 INCREASED MENTAL HEALTH PROBLEMS
11 MARKET RESTRAINTS
11.1 HIGHLY COMPETITIVE & FRAGMENTED MARKET
11.2 POTENTIAL HEALTH RISKS
12 MARKET LANDSCAPE
12.1 MARKET OVERVIEW
12.2 MARKET SIZE & FORECAST
12.3 FIVE FORCES ANALYSIS
12.3.1 THREAT OF NEW ENTRANTS
12.3.2 BARGAINING POWER OF SUPPLIERS
12.3.3 BARGAINING POWER OF BUYERS
12.3.4 THREAT OF SUBSTITUTES
12.3.5 COMPETITIVE RIVALRY
13 PRODUCT
13.1 MARKET SNAPSHOT & GROWTH ENGINE
13.2 MARKET OVERVIEW
13.3 CANDLES
13.3.1 MARKET OVERVIEW
13.3.2 MARKET SIZE & FORECAST
13.3.3 MARKET BY GEOGRAPHY
13.4 ROOM SPRAYS
13.4.1 MARKET OVERVIEW
13.4.2 MARKET SIZE & FORECAST
13.4.3 MARKET BY GEOGRAPHY
13.5 REED DIFFUSERS
13.5.1 MARKET OVERVIEW
13.5.2 MARKET SIZE & FORECAST
13.5.3 MARKET BY GEOGRAPHY
13.6 ESSENTIAL OILS & WAX MELTS
13.6.1 MARKET OVERVIEW
13.6.2 MARKET SIZE & FORECAST
13.6.3 MARKET BY GEOGRAPHY
13.7 INCENSE STICKS & CONES
13.7.1 MARKET OVERVIEW
13.7.2 MARKET SIZE & FORECAST
13.7.3 MARKET BY GEOGRAPHY
13.8 OTHERS
13.8.1 MARKET OVERVIEW
13.8.2 MARKET SIZE & FORECAST
13.8.3 MARKET BY GEOGRAPHY
14 FORM
14.1 MARKET SNAPSHOT & GROWTH ENGINE
14.2 MARKET OVERVIEW
14.3 LIQUID
14.3.1 MARKET OVERVIEW
14.3.2 MARKET SIZE & FORECAST
14.3.3 MARKET BY GEOGRAPHY
14.4 SEMI-SOLID
14.4.1 MARKET OVERVIEW
14.4.2 MARKET SIZE & FORECAST
14.4.3 MARKET BY GEOGRAPHY
14.5 SOLID
14.5.1 MARKET OVERVIEW
14.5.2 MARKET SIZE & FORECAST
14.5.3 MARKET BY GEOGRAPHY
15 DISTRIBUTION CHANNEL
15.1 MARKET SNAPSHOT & GROWTH ENGINE
15.2 MARKET OVERVIEW
15.3 SUPERMARKETS & HYPERMARKETS
15.3.1 MARKET OVERVIEW
15.3.2 MARKET SIZE & FORECAST
15.3.3 MARKET BY GEOGRAPHY
15.4 CONVENIENCE STORES
15.4.1 MARKET OVERVIEW
15.4.2 MARKET SIZE & FORECAST
15.4.3 MARKET BY GEOGRAPHY
15.5 ONLINE
15.5.1 MARKET OVERVIEW
15.5.2 MARKET SIZE & FORECAST
15.5.3 MARKET BY GEOGRAPHY
15.6 OTHERS
15.6.1 MARKET OVERVIEW
15.6.2 MARKET SIZE & FORECAST
15.6.3 MARKET BY GEOGRAPHY
16 GEOGRAPHY
16.1 MARKET SNAPSHOT & GROWTH ENGINE
16.2 GEOGRAPHIC OVERVIEW
17 NORTH AMERICA
17.1 MARKET OVERVIEW
17.2 MARKET SIZE & FORECAST
17.3 MARKET SEGMENTATION
17.4 PRODUCT
17.4.1 MARKET SIZE & FORECAST
17.5 FORM
17.5.1 MARKET SIZE & FORECAST
17.6 DISTRIBUTION CHANNEL
17.6.1 MARKET SIZE & FORECAST
17.7 KEY COUNTRIES
17.7.1 US: MARKET SIZE & FORECAST
17.7.2 CANADA: MARKET SIZE & FORECAST
18 EUROPE
18.1 MARKET OVERVIEW
18.2 MARKET SIZE & FORECAST
18.3 MARKET SEGMENTATION
18.4 PRODUCT
18.4.1 MARKET SIZE & FORECAST
18.5 FORM
18.5.1 MARKET SIZE & FORECAST
18.6 DISTRIBUTION CHANNEL
18.6.1 MARKET SIZE & FORECAST
18.7 KEY COUNTRIES
18.7.1 GERMANY: MARKET SIZE & FORECAST
18.7.2 UK: MARKET SIZE & FORECAST
18.7.3 FRANCE: MARKET SIZE & FORECAST
18.7.4 ITALY: MARKET SIZE & FORECAST
18.7.5 SPAIN: MARKET SIZE & FORECAST
19 APAC
19.1 MARKET OVERVIEW
19.2 MARKET SIZE & FORECAST
19.3 MARKET SEGMENTATION
19.4 PRODUCT
19.4.1 MARKET SIZE & FORECAST
19.5 FORM
19.5.1 MARKET SIZE & FORECAST
19.6 DISTRIBUTION CHANNEL
19.6.1 MARKET SIZE & FORECAST
19.7 KEY COUNTRIES
19.7.1 CHINA: MARKET SIZE & FORECAST
19.7.2 INDIA: MARKET SIZE & FORECAST
19.7.3 JAPAN: MARKET SIZE & FORECAST
19.7.4 AUSTRALIA: MARKET SIZE & FORECAST
19.7.5 SOUTH KOREA: MARKET SIZE & FORECAST
20 LATIN AMERICA
20.1 MARKET OVERVIEW
20.2 MARKET SIZE & FORECAST
20.3 MARKET SEGMENTATION
20.4 PRODUCT
20.4.1 MARKET SIZE & FORECAST
20.5 FORM
20.5.1 MARKET SIZE & FORECAST
20.6 DISTRIBUTION CHANNEL
20.6.1 MARKET SIZE & FORECAST
20.7 KEY COUNTRIES
20.7.1 BRAZIL: MARKET SIZE & FORECAST
20.7.2 MEXICO: MARKET SIZE & FORECAST
20.7.3 ARGENTINA: MARKET SIZE & FORECAST
21 MIDDLE EAST & AFRICA
21.1 MARKET OVERVIEW
21.2 MARKET SIZE & FORECAST
21.3 MARKET SEGMENTATION
21.4 PRODUCT
21.4.1 MARKET SIZE & FORECAST
21.5 FORM
21.5.1 MARKET SIZE & FORECAST
21.6 DISTRIBUTION CHANNEL
21.6.1 MARKET SIZE & FORECAST
21.7 KEY COUNTRIES
21.7.1 GCC: MARKET SIZE & FORECAST
21.7.2 SOUTH AFRICA: MARKET SIZE & FORECAST
22 COMPETITIVE LANDSCAPE
22.1 COMPETITION OVERVIEW
23 KEY COMPANY PROFILES
23.1 PROCTER & GAMBLE
23.1.1 BUSINESS OVERVIEW
23.1.2 PRODUCT OFFERINGS
23.1.3 KEY STRATEGIES
23.1.4 KEY STRENGTHS
23.1.5 KEY OPPORTUNITIES
23.2 S.C. JOHNSON & SON
23.3 GODREJ CONSUMER PRODUCTS
23.4 RECKITT BENCKISER GROUP
23.5 NEWELL BRANDS
24 OTHER PROMINENT VENDORS
24.1 HENKEL
24.1.1 BUSINESS OVERVIEW
24.1.2 PRODUCT OFFERINGS
24.2 FAULTLESS BRANDS
24.3 BEAUMONT PRODUCTS
24.4 ILLUME (REGENT HOLDING COMPANY)
24.5 GALA GROUP
24.6 VOLUSPA
24.7 SEDA FRANCE'S
24.8 NEST
24.9 THE ESTÉE LAUDER COMPANIES
24.10 BOUGIE ET SENTEUR
24.11 CIRCLE E CANDLES
24.12 ESTEBAN
24.13 BROKEN TOP BRANDS
24.14 BRIDGEWATER CANDLE COMPANY
24.15 THE COPENHAGEN COMPANY
24.16 PURE SOURCE INDIA
24.17 ASIAN AURA
24.18 ODONIL (DABUR)
24.19 SCENTAIR
24.2 P.F. CANDLE COMPANY
25 REPORT SUMMARY
25.1 KEY TAKEAWAYS
25.2 STRATEGIC RECOMMENDATIONS
26 QUANTITATIVE SUMMARY
26.1 MARKET BY PRODUCT
26.2 MARKET BY FORM
26.3 MARKET BY DISTRIBUTION CHANNEL
26.4 MARKET BY GEOGRAPHY
26.5 NORTH AMERICA
26.5.1 PRODUCT
26.5.2 FORM
26.5.3 DISTRIBUTION CHANNEL
26.6 EUROPE
26.6.1 PRODUCT
26.6.2 FORM
26.6.3 DISTRIBUTION CHANNEL
26.7 APAC
26.7.1 PRODUCT
26.7.2 FORM
26.7.3 DISTRIBUTION CHANNEL
26.8 LATIN AMERICA
26.8.1 PRODUCT
26.8.2 FORM
26.8.3 DISTRIBUTION CHANNEL
26.9 MIDDLE EAST & AFRICA
26.9.1 PRODUCT
26.9.2 FORM
26.9.3 DISTRIBUTION CHANNEL
27 APPENDIX
27.1 ABBREVIATIONS
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