Global Home Fragrances Market is Expected to Grow at a CAGR of 5% in the Forecast Period of 2024-2032

The global home fragrances market is majorly being driven by the growing demand in the air care market. Countries like the United States, India, and China have seen a rise in domestic fragrance demand due to increased disposable income and economic growth. The increased numbers of retail outlets and online platforms also help the industry to expand as it is easy to choose, and a range of items are available to the consumers.

In January 2020, Procter and Gamble Company (NYSE: PG), one of the leading key players, launched a new room freshening device known as Airia, that employs ink-jet technology and could be controlled through a smartphone app. Airia uses ink jet nozzle technology to spray fragrance elements into the air with up to 100,000 tiny droplets that release each second. The droplets move from room to another with the airflow of a home. Airia's fragrance intensity can be managed using a smartphone app, which can also switch on or off the device. For such purposes, buttons on the computer may also be used. The application can also set the time for Airia to run, for example, only when people are at home. The standalone dispenser is fitted with customizable colour and intensity ambient lighting. Such technological advancements and innovations within the industry are expected to drive the growth of the global home fragrances market in the coming years.

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Market Analysis by Product, Distribution Channel, and Region:

• On the basis of product, the market is divided into sprays, diffusers, and candles, among others.
• The distribution channels in the industry can be divided into supermarkets and hypermarkets, convenience stores, and online.
• The regional markets for home fragrances include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The rising consumer preference for air care as well as pleasant fragrance is boosting the growth of the global home fragrances market.
• The increasing disposable incomes of the consumers are increasing their purchasing power, thus, propelling the market growth.
• The rising demand for home aromatherapy is driving the growth of the market.
• The growing demand for personalised products is aiding the market growth further.
• The rising availability of a variety of fragrances and customised fragrances is providing an impetus to the market development.

Key Offerings of the Report:

• The EMR report gives an overview of the global home fragrances market for the periods (2018-2023) and (2024-2032).
• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the products, distribution channels, and major regional markets of home fragrances.
• It assesses the market based on the SWOT and Porter's Five Forces models.

The major key players in the global home fragrances market include companies like Reckitt Benckiser Group PLC, Proctor & Gamble Company, Seda France Inc., S. C. Johnson & Son, Inc., 3M Company, and Newell Brands Inc., among others. The comprehensive report covers their market share, capacity, and latest developments like mergers and acquisitions and capacity expansions.

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