Home Fragrance Market Size, Share & Trends Analysis Report By Product (Scented Candles, Sprays), By Distribution Channel (Specialty Stores, Online), By Region, And Segment Forecasts, 2024 - 2030

Home Fragrance Market Size, Share & Trends Analysis Report By Product (Scented Candles, Sprays), By Distribution Channel (Specialty Stores, Online), By Region, And Segment Forecasts, 2024 - 2030

Home Fragrance Market Growth & Trends

The global home fragrance market size is expected to reach USD 20.28 billion by 2030, and is projected to grow at a CAGR of 9.0% from 2024 to 2030, according to a new report by Grand View Research, Inc. The increasing expenditure on home décor is posing lucrative opportunities for market growth. The use of home fragrance items to treat health issues like anxiety, depression, and attrition is growing as more consumers become aware of the scientifically established advantages of certain scents on mental health. This has also become a prominent factor to propel the market growth.

The desire for pleasant scent in surroundings and expanding air care industry has increased spending on these items, increasing demand in the worldwide market. The industry is also expected to be driven in the future years by rising demand for aromatherapy in homes. Various studies have shown that inhaling essential oil mixture has shown efficacy in improving sleep quality among individuals. Rising awareness about the benefits of aromatherapy on sleep, pain alleviation, and mood have boosted demand for home fragrance products.

The sprays segment held the maximum share of the market. The growing demand for these products in countries including the U.S, Germany, the UK, France, Spain, Italy, and other European countries owing to the incorporation of natural and eco-friendly ingredients, such as essential oils and plant extracts in sprays is expected to fuel the demand in the near future. For instance, Bath & Body Works, the popular bath and body retailer launched a new collection of home fragrance sprays called "Wildflower Blooms" in March 2021. The collection includes a variety of floral scents, such as lavender, honeysuckle, and jasmine.

The supermarkets and hypermarkets segment held the largest market share of the market in 2023. Supermarkets and hypermarkets have a wide reach and are present in various regions, making them a convenient option for consumers to purchase home fragrance products. Moreover, supermarkets and hypermarkets often offer competitive pricing and promotions, making it an affordable option for consumers. In addition, retailers often use their large marketing budgets to promote home fragrance products through in-store displays, advertising, and promotional activities, further increasing consumer awareness and driving sales.

Asia Pacific is expected to emerge as the fastest growing regional market over the forecast period. The growth is attributed to an increase in awareness, disposable income, and concerns over indoor air quality. Consumers are ready to spend money on these products due to improvement in their standard of living, which is attributed to rise in the middle-class population.

The home fragrance industry is consolidated in nature with the presence of a large number of international players and a few regional players like Reckitt Benckiser Group PLC, The Procter & Gamble Company, Seda France, S. C. Johnson & Son Inc., Newell Brands Inc., Voluspa, Scent Air, NEST Fragrances, The Estée Lauder Companies Inc., Bougie & Senteur, and Bath & Body Works LLC.

Home Fragrance Market Report Highlights

• Europe dominated the global market in 2023. The demand for home fragrances such as essential oils for aromatherapy and decorative purposes in the European region is accelerating the market growth
• The scented candles segment is projected to register the fastest CAGR during the forecast period due to the development of high-end scented candles made with premium ingredients, such as essential oils and natural waxes
• During the forecast period, the online segment is expected to witness the fastest CAGR. The increasing availability of a wide range products of different brands, free delivery, and seasonal discount on e-commerce platforms are among the major reasons driving the channel growth

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