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Home Fragrance Market Size

Report ID: GMI8231
Published Date: Feb 2024
Report Format: PDF

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Home Fragrance Market Size

Home Fragrance Market size was valued at USD 10 billion in 2023 and is anticipated to register a CAGR of over 5.5% between 2024 and 2032. The increasing interest in home decor and interior design has driven the demand for home fragrance products. Consumers view home fragrances as an essential element in enhancing the ambiance and aesthetics of their living spaces.

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Heightened awareness of the influence of scents on mental well-being has led to an increased demand for home fragrances for stress relief and relaxation. Aromatherapy and scented products are seen as tools to create a soothing and calming home environment. Home fragrance products make popular gifts for various occasions. The culture of gifting scented candles, diffusers, and other fragrance items has contributed to sustained demand throughout the year, especially during festive seasons.

Homeowners engaging in home improvement and renovation projects often consider home fragrances as a final touch to create a pleasant atmosphere. This trend has led to increased sales in the home fragrance market. The increasing trend of home entertaining, especially in the context of social gatherings and events at home, has led to a higher demand for home fragrances to create a welcoming and enjoyable atmosphere.

Home Fragrance Market Report Attributes
Report Attribute	Details
Base Year:	2023
Home Fragrance Market Size in 2023:	USD 10 billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	5.5%
2032 Value Projection:	USD 16 billion
Historical Data for:	2018 – 2023
No. of Pages:	387
Tables, Charts & Figures:	250
Segments covered:	Product type, category, distribution channel, region
Growth Drivers:	Increasing number of residential places Increasing awareness on mental health Increasing gifting trends Increasing renovation and real estate projects
Pitfalls & Challenges:	Environmental concerns Regulatory compliance

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With increasing awareness of environmental issues, consumers are becoming more conscious of the environmental impact of the products they purchase. Home fragrance products often contain synthetic chemicals, and the industry may face challenges in addressing sustainability concerns and finding eco-friendly alternatives. The home fragrance industry is subject to various regulations regarding the use of certain ingredients and labeling requirements. Adhering to these regulations can be challenging, and changes in regulatory standards may impact product formulations, manufacturing processes, and marketing strategies.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The home fragrance industry was valued at USD 10 billion in 2023 and is anticipated to register a CAGR of over 5.5% between 2024 and 2032, driven by the increasing interest in home decor and interior design.

Scented candles segment of home fragrance industry was worth USD 4 billion in 2023 and is anticipated to grow through 2032, as they serve a dual purpose by providing both visual and olfactory enjoyment.

North America home fragrance industry held 30% revenue share in 2023 and is poised to grow rapidly till 2032, driven by growing demand for eco-friendly and sustainable home fragrance products.

Blyth Inc., Candle-lite Company, Colgate-Palmolive Company, Henkel AG & Co. KGaA, Illume, Johnson & Johnson, L Brands, Lampe Berger, Nest Fragrances are some of the major industry contenders.