Market Research Future published a Cooked Research Report on Global Air Care Market value which is estimated to grow at 2.47% CAGR from 2017 to 2023.
Air care products are used to eliminate bad odor at indoor level. Various types of air care products are available in the market such as air fresheners, electric air fresheners, car air fresheners, gel air fresheners, candle air fresheners, and liquid air fresheners. Air care products provide an option to the user to get rid of bad odor and have a desired room fragrance.
Key Players and Competitive Analysis:
This report includes a study of strategies used in the market, mergers, and acquisitions and multiple product launch by air care market players. It further includes product portfolios and developments of leading players, which includes
- Procter & Gamble Co.(U.S.)
- Reckitt Benckiser Group, Plc.(U.K.)
- S.C. Johnson & Son, Inc.(U.S.)
- Godrej Consumer Products Ltd.(India)
- Henkel AG & Company, KGaA (Germany)
- Church & Dwight Co., Inc.(Taiwan)
- Farcent Enterprise Co. Ltd.(Taiwan)
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Key manufacturers are more focused on strategic product launch to seek consumers’ attention towards their product range. They are also involved in the acquisition of small players, which further support the company to expand and reach out to consumers across the regions.
Air care products are used to eliminate the bad odor and to keep the surrounding fresh. These products are available in various forms including sprays, oils, candles, blends, and others. Different fragrances in this product has given an opportunity to the consumers to choose with the desired fragrance according to their need. Air care product helps to keep the indoor environment clean and odor free.
Rising disposable income has affected the consumer’s spending behavior. Consumers are found to hold more priority for quality products, which keeps their surrounding clean and fresh. Owning to these major factors, the demand for air care products is experiencing a surge in the global market. Escalating demand has encouraged the manufacturers to bring in innovations in their product line to expand their consumer base. Innovations in the existing product line and new product launch helps the manufacturers in creating brand identity and product differentiation. Keen focus on R & D sector to develop new product has further resulted in development of unique air care products such as Electric Air Fresheners and gel air fresheners and others. Consumers have shown more inclination towards natural air cares in air care products which has directly influenced the positive growth of the air fresheners market. Owing to rising health awareness, consumers are found to have high demand for chemical-free air fresheners. Rising health concerns among the consumers about the demerits of inhaling chemicals released from the air fresheners have a positive impact on the natural air care in air care market. The rising consumers’ preference for natural air cares will be considered one of the major drivers for air care products market.
All the factors are augmenting air care market to grow at the CAGR of 2.47% during the forecast period of 2017-2023.
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Among the product type, spray air fresheners segment is anticipated to retain its dominance throughout the forecast period. Also, the segment is projected to register a healthy CAGR of 2.56% during the given period due to increased use of spray air fresheners in room and cars. Furthermore, the demand for natural fragrances in air care products segment is increasing the growth of the air care products.
Among the distribution channel, retail is accounting for 92% of the global air care market and the segment is estimated to retain its dominance throughout the forecast period of 2017-2023. The segment is projected to register a healthy CAGR of 2.51% during the forecast period 2017-2023.
The global air care market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Among these, Asia Pacific region is expected to lead the market over the forecast period. The market is projected to grow at a CAGR of 3.06% during the review period. This is attributed to the high usage of home and cars based air care products. Among the Asia Pacific countries, India is estimated to hold 19% share in the year 2017.
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