Global Home Fragrances Market to Surpass $ 9 Billion by 2024
Rising awareness and aspirations
towards hygienic lifestyle coupled with increasing disposable income to drive
global home fragrances market through 2024
According to TechSci Research
report, “Global Home Fragrances Market By Product Type, By
Distribution Channel, By Region, Competition, Forecast & Opportunities,
2024”, home fragrances
market, globally, is projected to reach $ 9.4 billion by 2024, as they create a
favorable
environment at home. Moreover, launch of new aesthetically pleasing products,
personalization of the products and usage of natural ingredients in the products
are expected to boost demand for home fragrances during forecast period. S. C.
Johnson & Son, Inc., Reckitt Benckiser Group plc (RB) and The Procter &
Gamble Company are among the major players operating in global home fragrances
market.
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In terms of distribution
channel, global home fragrances market has been categorized into store-based
retail and non-store-based retail. Of these, store-based retail segment accounted
for majority market share in 2018 and is likely to maintain its leading market
dominance in coming years. The non-store-based retail segment is anticipated to
register growth during 2019-2024, owing to growing popularity of the e-commerce
market. Moreover, e-commerce and technology are transforming this category with
new user experiences, where luxury brands and small start-ups alike are racing
to embrace e-commerce, making this channel even stronger.
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Asia-Pacific
region is expected to grow at the fastest rate in global home fragrances market
during the forecast period, owing to increasing awareness about leading a
hygienic lifestyle. Japan and China are the major markets for home fragrances
in the Asia-Pacific region. Rising middle-class population and growing disposable
income in these countries are few of the major factors contributing to the region’s
home fragrances market growth. Moreover, growing e-commerce market, owing to
more than ever increasing internet penetration in the region is likely to aid
the market growth.
“Growing inclination
towards a hygienic lifestyle and favorable home environment is driving the
global home fragrances market. Increasing disposable income in Asia-Pacific is
leading to lifestyle changes. All the aforementioned factors are expected to
offer growth opportunities to players operating in global home fragrances
market over the course of next five years.”, said, Mr. Karan Chechi Research
Director with TechSci Research, a research-based global management consulting
firm.
“Global Home Fragrances
Market By Product Type, By Distribution Channel, By Region, Competition,
Forecast & Opportunities, 2024” has evaluated the future
growth potential of global home fragrances market and provides statistics and
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges and opportunities
in global home fragrances market.
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