Market Research Report
Global Home Fragrance Market (Scented Candles, Room Sprays & Reed Diffusers): Insights & Forecast with Potential Impact of COVID-19 (2021-2025)
|Published by||Koncept Analytics||Product code||987722|
|Published||Content info||90 Pages
Delivery time: 1-2 business days
|Global Home Fragrance Market (Scented Candles, Room Sprays & Reed Diffusers): Insights & Forecast with Potential Impact of COVID-19 (2021-2025)|
|Published: February 2, 2021||Content info: 90 Pages||
The global home fragrance market is forecasted to reach US$8.75 billion in 2025, growing at a CAGR of 5.29% for the period spanning 2021-2025. The factors such as rapid urbanization, improving consumer confidence index, escalating construction expenditure, accelerating e-commerce channels and rising adoption of aromatherapy candles are expected to drive the market. However, growth of the industry would be challenged by high competitive pressure and retail consolidations. Few notable trends include rising product launch, technological innovations in diffusers and high preference for personalized scented candles. In 2020, the outbreak of COVID-19 pandemic has created an unfavorable impact on the market.
The home market comprises three main segments namely scented candles, reed diffusers and room sprays. High preference of customised scented candles in developing economies has helped scented candles to remain at top position amongst all the segments in 2020.
The fastest growing regional market is North America owing to growing penetration of fragrance-based companies, increasing urban population, rising adoption of room sprays in hotels & resorts and increasing demand for scented candles & reed diffusers in spiritual practices. The U.S. and China are the two largest market and are already well-penetrated at developed market levels.
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