(MENAFN - GetNews) According to a recent report published by Grand View Research Inc., wide-scale consumer awareness along with product modifications is set to fuel market expansion.
According to a report, ' U.S. Air Fresheners Market Analysis by Product Type (Aerosol/Spray, Electric Air Fresheners, Gels, Candles, Others) by Application (Residential, Commercial, Cars, Others), Competitive Analysis And Segment Forecasts, 2018 2025, published by Grand View Research, Inc. The U.S. air fresheners market was valued at USD 1.62 billion in 2016, registering a CAGR of 3.4% by 2025, as per a new report by Grand View Research Inc. Manufacturers are experimenting with new fragrances in order to pacify customer preferences in this market, and this trend is being adopted by the U.S consumers. Essential oil demand for several fragrances is at an all-time high presently, therefore hinting varied product diversification in this region.
The consumers are willing to pay a premium price for several aesthetic fragrances and this is encouraging air freshener companies to expand their product portfolio, thus, prompting growth in revenue in this region. The market is also driven by the consumer's quest for their homes to smell good. In a recent survey conducted by the Census data and Simmons National Consumer Survey (NHCS), more than 80% of the U.S. population uses air freshener products, primarily for residential applications.
In 2017, the overall number of air freshener cans that have been sold were estimated to be more than 300 million, as more than 30 million U.S. residents have used 6 cans or more than in a year. These figures have showcased an excellent positive co-relation with disposable income indexes in the country.
U.S. Air Fresheners Market Highlights The sprays/aerosol led product type segment in 2017. This product generated the maximum demand among consumers due to its excellent odor-neutralizing properties that are enhanced by the chemicals present in the aerosol/spray cans The candles segment is set to project healthy growth, on account of its aesthetic fragrance and is driven by the rising disposable income. This region's disposable income is demonstrating stability after an initial downfall during the 2014 - 2016 period The residential segment is the largest grossing segment and will be the fastest-growing of the U.S. air freshener market. The residential segment accounts for more than 70% of the revenue share The car segment is projected to witness the second-largest growth over the forecast period. The U.S. car sales is optimistically growing and is expected to continue this trend by 2025 after a marginal upset in 2018 The air freshener market is also expected to benefit from the booming trend of non-essential expenditure's outpacing essential spending in this demographic. The commercial segment held a revenue of USD 223.4 million in 2017 and is anticipated to grow at a CAGR of 3.2% by 2025
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U.S. Air Fresheners Market Segmentations
Grand View Research has segmented the U.S. air freshener market report on the basis of product and application:
- Product Type Outlook (Revenue, USD Million, 2014 - 2025)
- Sprays/ Aerosols
- Electric Air Fresheners
- Application Outlook (Revenue, USD Million, 2014 - 2025)
List of Key Players in U.S. Air Fresheners Market Procter & Gamble Co Reckitt Benckiser Inc. Henkel KgaA
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Air Freshener Dispenser Market
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