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Car Air Freshener Market is Likely to Witness a Steady CAGR of ~3.6% and Hit US$ 2,233.7 Mn in 2022 to Eventually Cross a Revenue of US$ 3,178.2 Mn During Forecast Period of 2022-32 | Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
6 min read
Future Market Insights Global and Consulting Pvt. Ltd.
Increasing Use of Sustainability Label among Millennials and Gen Z to Spur Car Air Freshener Market to US$ 3,178.2 Mn by 2032. Rising Demand for Sustainable Car Perfumes in the U.S. to Bode Well for Manufacturers. Europe car air freshener market is anticipated to expand at ~3.0% CAGR over the forecast period.
NEWARK, Del, Dec. 30, 2022 (GLOBE NEWSWIRE) -- According to Future Market Insights, the global car air freshener market is estimated to expand at a CAGR of over ~3.6% throughout the forecast period of 2022-2032. It is expected to be valued at US$~3,178.2Mn by the end of 2032 and reach ~US$ 2,233.7 Mn in 2022.
One of the key factors influencing growth in the car air freshener market is the expansion of product portfolios and the types of fragrances offered by key players in the market. The highly fragmented consumer preference in terms of product type, form, and fragrance type is evolving exponentially. Introduction of a wide range of fragrances on the back of increased innovation is also aiding towards growth since the last few years.
Leading manufacturers in the market are offering products ranging from strong fragrances to elegant aromas, which is further attracting consumers based on their independent personality. In recent years, consumers have become increasingly particular about the products that they use. To cater to this increasing trend among consumers, manufacturers are infusing their products with naturally derived ingredients.
Another key factor influencing growth in the car air freshener market is the innovation and development of eco-friendly products. Numerous players operating in the market are displaying their products as sustainable in order to attract the young generation, which is highly inclined towards the sustainability and eco-friendly factor. A large number of brands are expanding their product lines by manufacturing new ones with the help of natural ingredients.
For instance, Aroma Car offers its product Cellulose scented hanging freshener, which is scented with a liquid fragrance. The company claims it to be inspired from nature, and offers it in the shape of a leaf which is appealing to an increasing number of consumers. Such branding and promotional strategies are helping these companies to grow their product portfolios and subsequently, increase their market presence.
Key Takeaways from the Car Air Freshener Market Study
The Europe and North America region together are anticipated to hold a major share of around ~43% in the global car air freshener market.
The India and China market are anticipated to witness a growth rate of around ~7.4% and ~8.2%, respectively, during the forecast period.
Leading players in the global market for car air fresheners are estimated to account for approximately ~10-15% of the total market share.
Based on product type, the hanging segment is estimated to exhibit a CAGR of around 7.5% during the forecast period.
In terms of price range, the medium segment is likely to hold a significant share of around 50% in the car air freshener market.
“Manufacturers are investing huge sums in the expansion of their product lines and product innovation to cater to sustainability demand from consumers. Some of the key players are also focusing on new ways of presenting eco-friendly products in the international market.” - Says an FMI analyst.
Competition Landscape: Car Air Freshener Market
Leading manufacturers of car air fresheners are focusing on innovation & development of new car air fresheners. Major players present in the car air freshener market are Procter & Gamble Co., Car-Freshener Corporation, California Scents, Church & Dwight Co. Inc., Godrej Household Products, Reckitt Benckiser Group Plc, Amway, Kobayashi, Liby, Houdy, Farcent, and Jiali among others.
Get More Valuable Insights into the Car Air Freshener Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global car air freshener market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
The study divulges compelling insights on the car air freshener market based on by product type (clip-on, plug-ins, spray/aerosol, paper, hanging, other), product form (crystal, foam, gel, liquid, powder, other), price range (low, medium, premium), sales channel (hypermarkets/supermarkets, convenience stores, departmental stores, independent stores, online retailers, others) across seven major regions.
About Consumer Product Division at Future Market Insights
The consumer product team at Future Market Insights provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the consumer product industry, the team is happy to help with every business intelligence research and consulting requirement.
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
