Air Freshener Market is expected to garner $13,279.1 million by 2025, registering a CAGR of 3.5% from 2018 to 2025
PORTLAND, OR, UNITED STATES, September 21, 2020 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, "Air Freshener Market by Product Type, Application, and Type of Customers: Global Opportunity Analysis and Industry Forecast, 2018 – 2025," the global air freshener market size was valued at $10,124.4 million in 2017, and is expected to garner $13,279.1 million by 2025, registering a CAGR of 3.5% from 2018 to 2025. An air freshener is a product that typically emits fragrance to eliminate unpleasant odor in a room. It contains different ingredients such as aerosol propellants, fragrances, and solvents such as 2-butoxyethanol, mineral oil, and glycol ethers, which neutralize unpleasant odor. These air fresheners adsorb the bad odor, thereby masking the bad smell in the air. Air fresheners are being used throughout society. Typically, indoor environments with air fresheners may include buildings and facilities such as offices, schools, hospitals, theaters, stores, hotels, health clubs, restaurants, restrooms, and more. Apart from these indoor environments they are also being used in transportation such as airplanes, cars, taxis, buses, trains, terminals, boats, and many more.
The growth of the air freshener industry is driven by increase in disposable income of people along with rise in the living standards of consumers around the globe. Moreover, increase in concerns over indoor air quality have led to a high demand for air fresheners worldwide. Furthermore, rapid growth in car sales along with a surge in number of pets ownerships and increase in consumers’ willingness to use premium air fresheners are expected to boost the growth of the global air freshener market. However, high cost of production hampers the widespread adoption and act as the major restraint for the global air freshener market. On the contrary, increase in demand for high-end lifestyles and luxury in everyday lives provides lucrative opportunity for the use of air fresheners in an extensive manner. The need for luxury has increased at a rapid pace due to rise in disposable income of individuals. Moreover, bad odor in hospitals or healthcare centers due to chemicals and bacterial infections fuels the demand for air fresheners. In near future, these areas would be prime opportunity areas for the growth of the air freshener industry.
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The sprays/aerosols segment accounted for the highest share in the product type segment. The market for sprays/aerosols is driven by ease of use and availability all over the world. The gel air freshener segment is expected to witness substantial growth with CAGR of 4.2% throughout the forecast period. This was attributed to increase in adoption of this product for use in cars. There has been a surge in the growth of cars, which has positively impacted the growth of gel air fresheners worldwide.
The household segment dominated the application segment in the air freshener market. This was attributed to favorable demography and rise in inclination toward sanitation throughout the globe. However, the car segment is projected to grow at the highest CAGR of 4.0% throughout the forecast period. This was attributed to increased disposable income and rise in affinity of consumers to spend on premium products. Moreover, surge in the growth of the automobile industry has also helped achieve this high growth rate.
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The individual customers had the highest share in the “type of customer” segment. This was due to rise in affinity of consumers toward sanitation and premium products. Moreover, attractive advertising and ease of availability also drive the global air freshener market growth. The enterprise customer segment is expected to witness the highest CAGR of 4.3% throughout the air freshener market forecast owing to increase in adoption of air care products in offices and other landmarks to maintain good environmental hygiene.
Key Findings Of The Study
• Based on product type, the sprays/aerosols segment was the highest contributor to the air freshener market and is expected to grow at a CAGR of 4.3% from 2018 to 2025.
• Based on application, the households segment was the highest contributor to the market in terms of value in 2017 and is estimated to grow at a CAGR of 3.0% from 2018 to 2025.
• Based on the type of customer, the individual customer segment is expected to grow at a steady CAGR of 3.2% from 2018 to 2025.
• Electric air freshener segment accounted for 30.5% of the total air freshener market share in 2017 and is estimated to grow at a CAGR of 2.9%.
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In terms of value, Europe contributed around one-third of the global air freshener market share in 2017. The key players profiled in the report include Procter & Gamble Co., Reckitt Benckiser Inc., Henkel KGaA, Church & Dwight Co. Inc., Car-Freshener Corporation, SC Johnson & Son Inc., Kobayashi Pharmaceutical Co. Ltd., Godrej Household Products Ltd., Farcent Enterprise Co. Ltd., and Newell Brands.
The other market players (not profiled in this report) include Air Delights Inc., Dabur India Ltd., Hamilton Beach Brands Holding Company, Rexair LLC, Beaumont Products, Inc., Scott's Liquid Gold, Dr. Marcus International, Jelly Belly UK, Pinnacle Horizons Pty Ltd, and Balev Corporation Eood.
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Source: EIN Presswire