Summary
Major players in the home fragrance market are S.C.
Johnson & Son Inc., Voluspa, Newell Brands, NEST Fragrances LLC, Godrej Aer., Reckitt Benckiser Group PLC., The Procter & Gamble Company, Seda France, ScentAir, 3M Company, Bougie Et Senteur, Bath & Body Works LLC, The Estee Lauder Companies Inc., Faultless Brands, Air Essentials, Esteban Paris, Korona Candles S.A, Illume Inc., Faultless Brands, and Ripple Fragrances Pvt. Ltd.
The global home fragrance market grew from $7.06 billion in 2022 to $7.7 billion in 2023 at a compound annual growth rate (CAGR) of 9.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The home fragrance market is expected to grow to $10.72 billion in 2027 at a CAGR of 8.6%.
The home fragrance market consists of sales of incense sticks, incense holders, scented oils, oil burners, fragrant room sprays, home fragrance lamps, reed diffusers, reed diffuser oils, reed diffuser sets, and potpourris.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
A home fragrance is a mixture of organic compounds that emits a characteristic aroma or smell that is now becoming as important a feature of home design as any piece of furniture or decor.Home fragrances are intended to scent the air or mask odors to create a pleasant interior atmosphere.
Home fragrance products are inexpensive, aromatic, aid in the maintenance of air quality, and serve as a source for removing unpleasant odours.
Western Europe was the largest region in the home fragrance market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the home fragrance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of home fragrances are candles, room sprays, reed diffusers, essential oils, and incense sticks.The candle is a cylinder or block of wax or tallow with a central wick that is lit to produce light as it burns.
The fragrances in home fragrances are lemon, lavender, jasmine, rose, sandalwood, vanilla, other fragrances that are distributed over supermarkets and hypermarkets, online stores, convenience stores, other distribution channels in liquid, the dry, or solid forms used in-home care, healthcare, hospitality, museums, commercial, other end-users.
The increasing demand for natural essential oils in home fragrance products is expected to propel the growth of the home fragrance market.The use of natural essential oils is becoming increasingly popular as people place a greater emphasis on their health and well-being, as well as a favorable impression of aromatherapy.
It is classified as a supplemental medicine that is used to improve one’s health and well-being. According to the European Federation of Essential Oils (E.F.E.O.), an FDA-regulated body, world essential oil production accounts for approximately 600,000 hectares of the 1.6 billion hectares of agricultural production. Approximately one million farms produce in the industry, accounting for 0.06 percent of all farms worldwide (1.600 million). According to Fragrance Creators Association, the fragrance industry contributed $22.4 billion to the U.S. economy, in response to the global pandemic . Therefore, the increasing usage of essential oils in fragrance products by manufacturers is driving the growth of the home fragrance market.
Technological innovations are shaping the home fragrance market.Technological innovations are the discovery of knowledge that advances technology.
For instance, in February 2021, Glade, an American brand of household air fresheners owned by S.C.
Johnson & Son, launched a new energy-efficient PlugIns Scented Oil PLUS, a device with a new smart-light technology to make it work more efficiently in homes.This device is used to fill any room with Glade’s popular and seasonal fragrances and with its rest mode, this scented oil warmer allows people to save energy and fragrance at the same time .
In another instance, in December 2021, Pura, a US-based innovative smart home fragrance technology company, partnered with Kenneth Cole for the development of two new smart home scent diffuser brands, "Aim to Teas" and "Go Fig-ure." Pura utilized scientific tools to relate perfumes with well-being while producing these aromas, giving them a wholly new sensation and deeper significance.
In April 2022, Phoenix Flavors and Fragrances, a US-based developer and compounder of high-performance flavors and fragrances, acquired Innovative Fragrances Inc for an undisclosed amount.The acquisition is expected to enhance Phoenix Flavors and Fragrances reach in the southeast United States, and the perfumery, regulatory, and technical solutions of Phoenix Flavors and Fragrances will be strengthened for its customers.
Innovative Fragrances Inc is a US-based company, that develops and compounds fragrance compounds for use in home fragrances, personal care products, candles, and air fresheners.
The countries covered in the Home Fragrance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The home fragrance market research report is one of a series of new reports that provides home fragrance market statistics, including home fragrance industry global market size, regional shares, competitors with a home fragrance market share, detailed home fragrance market segments, market trends and opportunities, and any further data you may need to thrive in the home fragrance industry. This home fragrance market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
