Home Fragrance Global Market Report 2022| MENAFN.COM

Friday, 07 October 2022 01:29 GMT

Home Fragrance Global Market Report 2022


(MENAFN- GlobeNewsWire - Nasdaq)

New York, Sept. 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report 'Home Fragrance Global Market Report 2022' -
, Faultless Brands, Air Essentials, Esteban Paris, Korona Candles S.A, Illume Inc., Faultless Brands, and Ripple Fragrances Pvt. Ltd.
The global home fragrance market is expected to grow from $6.52 billion in 2021 to $6.94 billion in 2022 at a compound annual growth rate (CAGR) of 6.4%. The home fragrance market is expected to grow to $9.2 billion in 2026 at a CAGR of 7.3%.
The home fragrance market consists of sales of home fragrances by entities (organizations, sole traders, and partnerships) that refer to fragrances that are manufactured and used in homes.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 odors.
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.
Western Europe was the largest region in the home fragrance market in 2021.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 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.
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). In June 2019, according to 'The Value of Fragrance,' a global report published by the International Fragrance Association (IFRA), a representative body of the fragrance industry, the manufacturing of fragrance ingredients alone contributes €7.2 billion to the economy and accounts for between €48 billion and €72 billion in value-added for 25 consumer product categories. 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 October 2019, NEST Fragrances, a US-based leading luxury lifestyle fragrance company, launched a new smart home fragrance diffuser in partnership with Pura, a smart home fragrance solutions company.The diffuser device, which is powered by Pura, can be operated with a smartphone.
Furthermore, the device has clever functions such as altering the smell intensity, switching between two scents with the press of a button, and setting personalized scent schedules. 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 August 2019, ScentAir, a US-based scent marketing company, acquired ScentHD for an undisclosed amount.The acquisition is expected to enhance ScentAir's business by allowing it to grow deeper into the home fragrance sector and directly reach more home fragrance customers.
ScentHD is a US-based company, that offers services and products for home and office air diffusers.
The countries covered in the Home Fragrance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report:
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