Published Date: 30-Jun-2023
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According to a new report, published by KBV research, The Global Home Fragrance Market size is expected to reach $19.4 billion by 2030, rising at a market growth of 8.6% CAGR during the forecast period.
The Scented Candles segment is showcasing a CAGR of 8.8% during (2023 - 2030). The segment growth is due to the offered broad range of fragrance options to accommodate a variety of consumer preferences. There are floral scents, spicy scents, fruity scents, and numerous others, allowing consumers to find a scent they appreciate that suits their preferences. In addition, scented candles are becoming increasingly popular as gifts, particularly during the holidays. They are frequently presented as hostess gifts, housewarming gifts, or tiny tokens of gratitude. Such factors are contributing to the expansion of the segment.
The Supermarkets & Hypermarkets segment is leading the Global Home Fragrance Market by Distribution Channel in 2022 thereby, achieving a market value of $7.2 billion by 2030. The growth is attributed to the major role of supermarkets & hypermarkets in the home fragrance market by providing a wide variety of products at competitive prices. These distribution channels provide consumers with convenience and accessibility while also promoting and increasing awareness of home fragrance products. In addition, the benefits of evaluating the product before purchase, which can influence the purchasing decision, and the assistance of a store associate in selecting the correct product, are likely to enhance the segment's growth.
The Europe market dominated the Global Home Fragrance Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $6.4 billion by 2030. The North America market is exhibiting a CAGR of 8.2% during (2023 - 2030). Additionally, The Asia Pacific market would showcase a CAGR of 9.4% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/home-fragrance-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
By Distribution Channel
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