The Europe Home Fragrance Market would witness market growth of 7.8% CAGR during the forecast period (2023-2030).
In the market, essential oils are growing in popularity as people look for natural and holistic products. Many believe essential oils are therapeutic and can aid in promoting well-being and relaxation. Additionally, customers seek out distinctive and cutting-edge scents in home fragrance items. As a result, businesses are creating fresh and unique smell combinations to set their products apart from the competition. Some businesses combine unusual fragrances like coffee and leather to produce a distinctive and alluring fragrance profile.
The development of goods that are compatible with smart home technologies is an emerging trend in the market. For instance, some businesses are creating aroma diffusers that can be operated by a smartphone app, enabling users to schedule fragrance delivery and change the scent intensity. For instance, Air Wick introduced a new Bluetooth-enabled scented oil diffuser in March 2020 that can be used with an iPhone.
The goal of the federal government of Germany is to build enough affluent, environmentally friendly, and barrier-free housing. The 190 proposals from the Affordable Housing Alliance are meant to significantly increase the amount of new housing being built in Germany. In Germany, 400,000 apartments are expected to be built annually, 100,000 of which would receive social and financial subsidies. Hence with the government's initiatives to increase and provide affordable housing, the demand and need for various home decor products like home fragrances will surge as they assist in creating a more appealing and welcoming environment. Thus, above mentioned factors are aiding the market growth in the region.
The Germany market dominated the Europe Home Fragrance Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,403.9 million by 2030. The UK market is exhibiting a CAGR of 6.9% during (2023 - 2030). Additionally, The France market would experience a CAGR of 8.6% during (2023 - 2030).
Based on Product, the market is segmented into Sprays, Scented Candles, Essential Oils, Incense Sticks and Others. Based on Distribution Channel, the market is segmented into Supermarkets & Hypermarkets, Convenience Stores, Specialty Store, Online, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Home Fragrance Market is Projected to reach USD 19.4 Billion by 2030, at a CAGR of 8.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Seda France, Inc., Newell Brands, Inc., Bath & Body Works, NEST Fragrances, S. C. Johnson & Son, Inc., The Estee Lauder Companies, Inc., The Procter and Gamble Company, Reckitt Benckiser Group PLC, Bougie et Senteur and Scentair Technologies, Inc.
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