Candle Air Fresheners Market to be US$ 602.8 Mn by 2032 | Future Market Insights, Inc.

According to Future Market Insights, the global candle air fresheners market is forecast to grow at a CAGR of 3.6% from 2022 to 2032. The sector is expected to be worth US$ 602.8 Mn by 2032, up from US$ 423.7 Mn in 2022.

Candle air fresheners are among the most common consumer products in the air freshener market. Aromatic compounds, ethanol, deionized water, aerosol propellants, mineral oil, and other substances are used in candle air fresheners.

The market for air fresheners is being driven by a rise in demand for air care and increased concerns about indoor air quality. Increased consumer demand for aroma items such as sprays, plug-ins, beads, gels, and candles, as well as increased need for air fresheners to maintain a pleasant ambiance in offices and homes, are driving the candle air fresheners market forward. A rise in consumer preference for aromatherapy and growing demand for high-end lifestyles and luxury in everyday life among the people influence the market for candle air fresheners.

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Furthermore, new developments, increasing disposable incomes, changing lifestyles, and increased acceptance of luxury products are all set to benefit the candle air freshener market. Furthermore, increased use of candle air fresheners in hospitals and healthcare centres as well as a preference for a high-end lifestyle, provide lucrative prospects for candle air freshener manufacturers from 2022 to 2032.

Market companies’ strategic activities have included new product releases, product differentiation, and acquisitions. Procter & Gamble, for example, has introduced a new automatic air freshener. One of the new technologies is P&G’s Sci-Fi Air Freshener. Consumers can access and control this product through a smartphone app. The product contains a motion sensor and a febreze plug that allows one of two fragrances to be released from the gadget based on the user’s preference.

Key Takeaways from the Candle Air Fresheners Market Study:

• The candle air freshener market’s residential segment is estimated to have a 65% share of the current global market and expand at a sluggish 3.4% CAGR during the forecast period.
• The medium price range product category is estimated to grow at a slow 3.7% CAGR from 2023 – 2033.
• In 2021, hypermarkets/supermarkets had approximately 23% share of the market.
• A valuation of US$ 97.7 Mn is expected for the U.S. candle air fresheners market by 2032.
• China candle air fresheners market is anticipated to expand at a sluggish 3.6% CAGR.

“Increased prominence of maintaining healthy home and office environments has created an increased demand for candle air fresheners in the market. Moreover, highly fragmented product offerings from manufacturers in the market is appealing to consumers, which is expected to drive the market over the coming years.”- says an FMI analyst.

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Who is winning?

Procter & Gamble Co., Reckitt Benckiser Inc., Henkel KGaA, Church & Dwight Co. Inc., SC Johnson & Son Inc., Kobayashi Pharmaceutical Co. Ltd., Godrej Household Products Ltd., Farcent Enterprise Co. Ltd., Newell, Yankee Candles Brands are the major competitors in the market.