ID: MRFR/CR/3217-CR | February 2021 | Region: Global | 113 pages
Market Research Future (MRFR) anticipates the Air Care Market to accrue a solid valuation of USD 13,105.7 Million by 2024-end. MRFR also estimates the market size to grow at a rate of 2.58% between 2019 to 2024 (evaluation period).
The COVID-19 outbreak has had a detrimental impact on the air care industry, with the temporary shutdown of manufacturing facilities and weakened demand. Amidst the growing focus on curbing the spread of SARS-CoV-2, players in the global market for air care products are trying to boost their supply chains and accelerate their operations to restrict further revenue losses. Additionally, with the gradual lifting up of the lockdown across countries and the novel coronavirus under control, the global market can recover faster in the ensuing years.
Mounting Pollution Level to be a Key Growth Booster
The air care products industry growth is fostered by a number of factors, including the mounting pollution levels across various countries, both in developed and developing. Some of the most common and toxic indoor pollutants are smoke from cigarettes and firewood, volatile organic compounds released from perfumes, moth repellents, hair sprays, and others.
The U.S. air fresheners market has been performing well owing to the escalating demand for candle air fresheners as well as aromatherapy. Consumers are increasingly opting for candle air fresheners since these are viewed as eco-friendlier and more organic than their counterparts and are known for promoting a healthier lifestyle.
Augmented Preference for Eco-Friendly Products to be a Huge Growth Opportunity
Eco-friendly products like scented candles are experiencing significant demand in markets like Hong Kong, Japan and Singapore, on account of the improving living standards and mounting consumer knowledge. This factor has also brought down the preference for spray/aerosol air fresheners as these are viewed as toxic for the environment. Moreover, high car sales in Asia Pacific and the subsequent increase in the demand for air fresheners can also be a major opportunity for the top manufacturers.
High Costs of Air Care Products to be a Significant Challenge
Significant costs of air care products could discourage consumers from buying them, which can be a huge challenge for players in the coming years.
Air Fresheners to Witness Significant Demand
The top product types mentioned in the market study are candles, electric air fresheners, air freshener sprays, air freshener gels, car air fresheners, and others. Increased spending on R&D activities to come with chemical-free and natural air fresheners has led to their strong demand in the global market.
Store-Based Channels to Note High Consumer Preference
Major distribution channels considered in the study are non-store-based and store-based. Some of the key store-based distribution channels are convenience stores, supermarkets & hypermarkets, and more. The provision of enhanced shopping experience with the availability of high range of products have bolstered the preference for store-based distribution channels among consumers.
European Market to Take the Lead
The prevalence of asthma and allergies in Europe has risen exponentially over the years, which has bolstered the sales of air care products among consumers that are concerned regarding their health at home. Products that are considered natural like liquid air fresheners or candles that use essential oil are therefore witnessing robust demand in the region. Superior quality of products and their availability in attractive prices are a huge hit among European consumers, which has been a great opportunity for the emerging air care products brands.
Asia Pacific to Make Rapid Progress as Middle-Class Populace Expands
Asia Pacific has been making significant progress in the global market, with China, India and Japan standing at the vanguard of the growth. The consistent expansion of the middle-class populace observing rise in disposable income has fostered the aspiration for a more sophisticated lifestyle, which prompts the consumers to go for air care products for a hygienic and fresh environment. In response to the escalating consumer demand, manufacturers in the region are introducing cost effective products, which works in favor of the air car market. The household air care products market has emerged quite attractive in the region, with consumers increasingly preferring items that help them maintain the hygiene and smell of their homes.
Firms Strive for Portfolio Differentiation to Stand Out in the Competitive Market
Manufacturers concentrate majorly on developing innovative air care filter products to cater to the evolving demands and needs of consumers, by constantly taking up advanced technologies. The players strive to differentiate their offerings with respect to flavors, functionalities, size, packaging format and nature of ingredients, in a bid to garner competitive advantage and also bolster their customer base.
The report overview presents air care products industry statistics, with major focus on the top challenges, barriers and drivers affecting the market size. MRFR also outlines the household air care products market as well as the U.S. air fresheners market along with the base year, projected period as well as the size during the given period. The market study also comprises some of the key developments post the COVID-19 outbreak and the effects of the novel coronavirus and the subsequent lockdown on the market. The report also throws light on the latest business scenario covering the expected as well as the historical value, in terms of volume and value, technological developments, and the top mechanical lock industry factors that induce growth. The report also lists the leading air care products industry manufacturers along with the competitive strategies adopted by them to stay relevant in the industry.
Scope of the Report
The scope of the report outlines a few notable segments, including air care products brands, air care products duct cleaning, pro-car care air freshener products, aircare humidifier, American air care products and air care filter products.
Global Air Care Products Market, By Product Type
Global Air Care Products Market, By Distribution Channel
Frequently Asked Questions (FAQ) :
air care market is projected to grow at approximately 2.58% CAGR during the assessment period (2019-2024).
air care market is estimated to reach a valuation of approx. USD 13,105.7 MN by the end of 2024.
Rising disposable income that is impacting the consumer’s spending behaviour and the demand, are major tailwinds pushing the growth of the global air care market.
Europe holds the largest share in the global air care market, followed by North America and the Asia Pacific, respectively.
Procter & Gamble Co.(U.S.), C. Johnson & Son, Inc.(U.S.), Reckitt Benckiser Group, Plc.(U.K.), Godrej Consumer Products Ltd.(India), KGaA (Germany), Henkel AG & Company, Farcent Enterprise Co. Ltd.(Taiwan),Church & Dwight Co., Inc.(Taiwan), are some of the top players operating in the global air care market.