"We Envision Growth Strategies Most Suited
to Your Business"

Home Fragrance Market to Reach $27.63 Billion by 2027; Nest Fragrances Launches Innovative Fragrance Diffuser to Stoke Demand

November 23, 2020 | Consumer Goods

The global home fragrance market size is expected to experience a considerable growth by reaching USD 27.63 billion by 2027. The growth is attributed to the growing number of spa centers that is likely to favor the adoption of innovative products across the globe. This information is published by Fortune Business Insights, in its latest report, titled, “Home Fragrance Market Size, Share & COVID-19 Impact Analysis, By Product Type [Candles (Unscented and Scented), Room Sprays, Reed Diffusers, Essential Oils, and Incense Sticks], and Distribution Channel (Online and Offline), and Regional Forecast, 2020-2027.” The report further mentions that the market stood at USD 22.89 billion in 2019 and is projected to exhibit a CAGR of 3.1% between 2020 and 2027.


NEST Fragrances Launches Innovative Smart Home Fragrance Diffuser to Brighten its Market Prospects


In September 2020, NEST Fragrances, a leading lifestyle fragrance company, in partnership with Pura, a smart home fragrance solutions provider, announced the launch of a new Smart Home Fragrance Diffuser. Powered by Pura, the diffuser device can be controlled by a smartphone. Additionally, the device includes intelligent features such as adjusting the intensity of the scent, switching between two fragrances at the push of the button, and creating customized scent schedules. The device is expected to go on sale by mid-October across all convenience stores in the United States.


Laura Slatkin, Founder of NEST Fragrances, said, “We aim to explore and develop innovative products that allow our consumers to enjoy the extraordinary scent of our luxurious products. The fragrance products are developed considering the customers’ evolving lifestyles.”


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/home-fragrance-market-102422


Growing Number of Spa Centers to Surge Demand


According to the International Spa Association, there are about 19,733 Health & Wellness Spa centers doing brisk business in the United States as of 2020. Additionally, in 2017, the average revenue of each spa was estimated to be around $803,000, a 1.9% increase compared to 2016. The growing number of spa centers owing to the rejuvenating regime followed by the working population is driving the demand for innovative candle and home fragrance products. These products aid in relaxing the body and mind and, therefore, are widely adopted by spa centers across the globe. This is expected to bode well for the growth of the global market in the forthcoming years.


Eminent Companies Develop Innovative Fragrance Products to Strengthen Their Market Positions


The global home fragrance market is experiencing a healthy competition between major companies to maintain their stronghold. These companies are focusing on launching innovative candle and home fragrance products to cater to the growing demand from the residential and commercial sectors. Additionally, other key players are striving to maintain their presence by adopting strategies such as partnership, collaboration, and merger and acquisition that will contribute to the growth of the market during the forecast period.


Industry Development:



  • April 2020 – ScentAir announced the acquisition of ScentHD to expand its reach in the candle and home fragrance segment. The move is expected to aid in amplifying the position of the company in the global marketplace.


List of the Companies Profiled in the Global Market:



  • The Procter & Gamble Company (Cincinnati, Ohio, US)

  • The 3M Company (Saint Paul, Minnesota, USA)

  • S. C. Johnson & Son, Inc. ( Racine, Wisconsin, USA)

  • Reckitt Benckiser Group plc (Slough, UK)

  • Newell Brands (Atlanta, Georgia, USA)

  • Circle E Candles (Houston, USA)

  • Esteban Paris (France)

  • Broken Top Candle Company (Oregon, USA)

  • Bridgewater Candle Company (South Carolina, USA)

  • The Copenhagen Candle Company LTD (HA, United Kingdom)


Further Report Findings:



  • North America is expected to remain at the forefront and hold the highest position in the global market in the forthcoming years. This dominance is attributable to the increasing adoption of these products for enabling coziness and comfort in American households.

  • The market in Asia-Pacific is expected to gain momentum owing to the increasing adoption of fragrance products taking into consideration the festivities such as Diwali in India that propels the adoption of the product between 2020 and 2027.

  • The candle segment, based on product type, held a market share of about 35.89% in 2019 and is expected to showcase an exponential growth in the forthcoming years. This is ascribable to factors such as the increasing demand for aromatic candles for therapeutic use in spa centers and other places.


Table of Segmentation:














































 ATTRIBUTE



  DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD Billion)



Segmentation



  By Product Type, Distribution Channel, and Geography



By Product Type


 




  • Candles

    • Unscented

    •  Scented



  • Room Sprays

  • Reed Diffuser

  • Essential Oils

  • Incense Sticks



By Distribution Channel


 




  • Offline Channels

  • Online Channel



By Geography


 




  • North America

    • By Product Type

    • By Distribution Channel

    • By Country

      • USA

        • By Product Type



      • Canada

        • By Product Type



      • Mexico

        • By Product Type







  • Europe

    • By Product Type

    • By Distribution Channel

    • By Country

      • Germany

        • By Product Type



      • France

        • By Product Type



      • Italy

        • By Product Type



      • Spain

        • By Product Type



      • U.K.

        • By Product Type



      • Rest of Europe

        • By Product Type









  • Asia Pacific

    • By Product Type

    • By Distribution Channel

    • By Country

      • China

        • By Product Type



      • India

        • By Product Type



      • Japan

        • By Product Type



      • Australia

        • By Product Type



      • Rest of Asia Pacific

        • By Product Type







  • South America

    • By Product Type

    • By Distribution Channel

    • By Country

      • Brazil

        • By Product Type



      • Argentina

        • By Product Type



      • Columbia

        • By Product Type



      • Peru

        • By Product Type



      • Chile

        • By Product Type



      • Rest of South America

        • By Product Type







  • Middle East & Africa

    • By Product Type

    • By Distribution Channel

    • By Country

      • South Africa

        • By Product Type



      • UAE

        • By Product Type



      • Rest of Middle East & Africa

        • By Product Type








Home Fragrance Market
  • PDF
  • 2019
  • 2016-2018
  • 160

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

Our Clients

Petronas
huawei
BCG
Pont Europe
UBS
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X