New Delhi, March 02, 2019: Rising awareness and aspirations towards hygienic lifestyle coupled with increasing disposable income to drive global home fragrances market through 2024
According to TechSci Research report, “Global Home Fragrances Market By Product Type, By Distribution Channel, By Region, Competition, Forecast & Opportunities, 2024”,home fragrances market, globally, is projected to reach $ 9.4 billion by 2024, as they create a favorable environment at home.Moreover, launch of new aesthetically pleasing products, personalization of the products and usage of natural ingredients in the products are expected to boost demand for home fragrances during forecast period. S. C. Johnson & Son, Inc., Reckitt Benckiser Group plc (RB) and The Procter & Gamble Company are among the major players operating in global home fragrances market.
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In terms of distribution channel, global home fragrances market has been categorized into store-based retail and non-store-based retail. Of these, store-based retail segment accounted for majority market share in 2018 and is likely to maintain its leading market dominance in coming years. The non-store-based retail segment is anticipated to register growth during 2019-2024, owing to growing popularity of the e-commerce market. Moreover, e-commerce and technology are transforming this category with new user experiences, where luxury brands and small start-ups alike are racing to embrace e-commerce, making this channel even stronger.
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Asia-Pacific region is expected to grow at the fastest rate in global home fragrances market during the forecast period, owing to increasing awareness about leading a hygienic lifestyle. India, China and Japan are the major markets for home fragrances in the Asia-Pacific region. Rising middle-class population and growing disposable income in these countries are few of the major factors contributing to the region’s home fragrances market growth. Moreover, growing e-commerce market, owing to more than ever increasing internet penetration in the region is likely to aid the market growth.
“Growing inclination towards a hygienic lifestyle and favorable home environment is driving the global home fragrances market. Increasing disposable income in Asia-Pacific is leading to lifestyle changes. All the aforementioned factors are expected to offer growth opportunities to players operating in global home fragrances market over the course of next five years.”,said, Mr. Karan Chechi Research Director with TechSci Research, a research-basedglobal management consulting firm.
“Global Home Fragrances Market By Product Type, By Distribution Channel, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global home fragrances market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global home fragrances market.
Corporate Comm India(CCI Newswire)
