Air Care Products Market to Increase with Surging Global Pollution Levels By 2024
The escalation in air pollution is significantly encouraging the demand for air purifying products, especially in urban areas. Reports that review the consumer and retail industry has been offered by Market Research Future, which generates reports on industry verticals that evaluate the market development and opportunities. The market is on course to gain revenues worth USD 13,105.7 million and gain a CAGR of 2.58 % in the forecast period from 2019 to 2024.
The boom in sales of homecare products is motivating the air care products market greatly. The progress achieved in the diversification of the product portfolio has led to the creation of variety in purification products like sprays, candles, gels, and others. Also, the market is anticipated to be driven by increasing incidence of indoor pollutants in the forecast period.
The segmental assessment of the air care products market has been conducted on the basis of the distribution channel, product type, and region. Based on product type, the air care products market has been segmented into electric air fresheners, air freshener sprays, car air fresheners, candles, air freshener gels, and others. On the basis of the distribution channel, the air care products market has been segmented into store-based, and non-store-based. The store-based distribution channel has been additionally segmented into convenience stores, supermarkets & hypermarkets, and others. By regions, the air care products market has been segmented into North America, Asia Pacific, Europe, and the rest of the world.
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Detailed Regional Analysis
The regional analysis of the air care product market includes regions such as North America, APAC, Europe, and the rest of the world. Among the regions, the European region is anticipated to control the air care products market both in terms of value and volume. The advancing lifestyles of the consumers, along with the increased per capita disposable income of the consumers is anticipated to increase the retailing of air care products in the forecast period. However, the Asia Pacific is anticipated to observe a momentous growth rate in the forecast period from 2019 to 2024. The growth of the Asia Pacific region is estimated to be motivated by numerous factors. The rising air pollution in the developing economies of the Asia Pacific region is judged to be one of the substantial factors for the intensifying growth of air care products in the APAC region. Additionally, growing consumer predisposition to air purification is also anticipated to act as a considerable driver in the Asia Pacific air care products market. The air care products market in the rest of the world is likely to observe a significant development rate during the forecast period. Among the rest of the world, the South America region is projected to control major market share in 2019, and the inclination is expected to intensify throughout the forecast period.
The pull created by the businesses in the market by positioning marketing policies and events is additionally growing the development of the market. The improvement of production resources is likely to stimulate the market’s improvement in the forecast period. The market is ushering in a phase of development that is expected to be motivated by the positive factors in the market. The demographics present in the market present a favorable outlook in terms of product expansion and future growth potential. The strategies in the market are being aimed at improving the overall progress of the market, with the business models taking into account all contingencies that may arise in the coming years. The profitability in the market is enhanced significantly by the existence of strong strategies deployed by market players. The identification and use of apposite media channels are expected to transform the market development in the coming years.
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Reckitt Benckiser Group, Plc. (UK), Hamilton Beach Brands Holding Company (US), S.C. Johnson & Son, Inc. (US), Godrej Consumer Products Ltd. (India),Henkel AG & Company, KGaA (Germany), Procter & Gamble Co. (US), Church & Dwight Co., Inc. (US), Farcent Enterprise Co. Ltd. (Taiwan), Newell Brands (US), WD-40 Co. (US), Candle-lite, Inc. (US),American Covers, Inc. (US), Car-Freshener Corporation (US), Air Delights Inc. (US), and Rexair LLC (US) are a few of the noteworthy contenders in the air care product market globally.
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