The global air care market size was valued at USD 12.02 billion in 2020 and is projected to reach USD 19.75 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.20% during the forecast period.
The electric air fresheners segment accounted for the largest share of the global air care market in 2020, followed by the air freshener sprays segment. The electric air fresheners segment is expected to maintain its dominance throughout the forecast period, owing to its convenience, efficiency,
and variety of fragrances.
The store-based segment accounted for the largest share of the global air care market in 2020, followed by the non-store based segment. The store-based segment is expected to maintain its dominance throughout the forecast period, owing to its wide availability, accessibility, and visibility of air care products.
North America accounted for the largest share of the global air care market in 2020, followed by Europe and Asia-Pacific. North America is expected to maintain its dominance throughout the forecast period, owing to its high disposable income, consumer awareness, and preference for premium and innovative air care products.
Asia-Pacific is expected to be the fastest-growing region in the global air care market during the forecast period, owing to its rising population, urbanization, income levels, and demand for better indoor air quality.
Drivers
The report by Market Research Future identifies several factors that are driving the growth of the global air care market. Some of these factors are:
The increasing awareness and concern among consumers about indoor air pollution and its adverse effects on health and well-being. Indoor air pollution can be caused by various sources such as cooking, smoking, pets, mold, dust mites, chemicals, and volatile organic compounds (VOCs). Indoor air pollution can lead to various health problems such as allergies, asthma, respiratory infections, headaches, nausea, fatigue, and even cancer. Air care products and services can help reduce or eliminate indoor air pollutants and improve indoor air quality.
The rising demand for natural and organic air care products that are made from plant-based or biodegradable ingredients and do not contain harmful chemicals or synthetic fragrances. Consumers are becoming more conscious and informed about the environmental and health impacts of conventional air care products that may contain artificial colors,
preservatives, phthalates, parabens, formaldehyde, or petroleum derivatives. Natural and organic air care products are perceived as safer, healthier, and more eco-friendly alternatives that offer various benefits such as aromatherapy, mood enhancement, stress relief, and relaxation.
The growing popularity of premium and innovative air care products that offer advanced features such as smart technology, remote control,
voice activation,
motion sensors,
customization,
and personalization.
Consumers are willing to pay more for premium and innovative air care products that provide convenience,
efficiency,
and functionality.
These products also cater to the changing preferences,
lifestyles,
and needs of consumers who seek variety,
novelty,
and exclusivity in their air care products.
Challenges
The report by Market Research Future also identifies some challenges that may hamper the growth of the global air care market. Some of these challenges are:
The stringent regulations and standards imposed by various governments and authorities on the production, distribution,
and usage of air care products.
These regulations and standards aim to ensure the safety,
quality,
and efficacy of air care products and to protect the consumers and the environment from potential risks and hazards.
However,
these regulations and standards may also pose challenges for the manufacturers and suppliers of air care products in terms of compliance,
cost,
and innovation.
The increasing competition and price sensitivity in the global air care market. The global air care market is highly competitive and fragmented,
with the presence of numerous players ranging from multinational corporations to local and regional players.
These players compete on various factors such as price,
quality,
brand,
innovation,
and distribution.
The increasing competition may result in price wars,
margin erosion,
and market consolidation.
Moreover,
the consumers are becoming more price sensitive and value conscious due to the availability of various options and substitutes in the market.
The rising consumer awareness and skepticism about the effectiveness and authenticity of air care products. Consumers are becoming more aware and skeptical about the claims and promises made by the manufacturers and marketers of air care products regarding their benefits and advantages.
Consumers are also becoming more aware and skeptical about the ingredients and components used in air care products and their potential impacts on health and environment.
Consumers may also question the necessity and utility of air care products and opt for natural or alternative solutions such as ventilation,
plants,
or essential oils.
Opportunities
The report by Market Research Future also identifies some opportunities that may create new avenues for growth and expansion for the global air care market. Some of these opportunities are:
The increasing demand for customized and personalized air care products that cater to the specific needs, preferences,
and tastes of individual consumers or segments.
Consumers are looking for air care products that reflect their personality,
identity,
and lifestyle.
Consumers are also looking for air care products that suit their mood,
occasion,
and purpose.
Manufacturers and marketers can leverage this opportunity by offering customized and personalized air care products that allow consumers to choose or create their own fragrances,
colors,
shapes,
sizes,
or designs.
The expanding application areas and use cases of air care products in various sectors such as hospitality, healthcare,
education,
retail,
automotive,
and others.
Air care products can be used to enhance the ambiance,
atmosphere,
and experience of various spaces and settings such as hotels,
restaurants,
hospitals,
schools,
shops,
cars,
and others.
Air care products can also be used to create a positive impression,
image,
and reputation for various brands,
organizations,
and institutions.
Manufacturers and marketers can leverage this opportunity by offering specialized and tailored air care products that meet the specific requirements and expectations of different sectors.
The emerging markets and regions that offer untapped potential and growth prospects for the global air care market. The developing countries in Asia-Pacific, Latin America, Middle East, and Africa are witnessing rapid urbanization, industrialization, income growth, population growth, and lifestyle changes that are creating a huge demand for air care products. These markets and regions also have low penetration and awareness levels of air care products, which offer ample scope for expansion and penetration. Manufacturers and marketers can leverage this opportunity by offering affordable, accessible, and adaptable air care products that cater to the needs, preferences,
and cultures of these markets and regions.
Conclusion
In this article, we have reviewed the global air care market 2019 expected to grow faster according to a new research report by Market Research Future. We have summarized the key findings, drivers, challenges, and opportunities of this report, and explained why it is important for the stakeholders of the global air care market to be aware of these factors. We hope you found this article helpful and informative. If you have any questions or feedbacks, please leave a comment below. Thank you for reading!
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