SC Johnson & Son, Inc., Reckitt Benckiser Plc., and Procter &
Gamble Co. held a collective share of 60% for air care products in
2014. While they do hold the majority of the market value together,
the number of regional players offering air care products is still
very high. Most of the manufacturers of air
care products are beginning to focus on attractive market
segments such as candle air fresheners. This is due to a growing
concern over environmental issues and the consequent reduction in the
use of aerosols and sprays.
Candle air fresheners provide one of the most eco-friendly air care
means, which is making them highly preferred in many regions.
According to a new publication by Transparency Market Research, other
products such as beads, plug-ins, and oils are also gaining
popularity due to advancements in technology that make it feasible to
sell these items on a large scale.
Globally Improving Living Standards and Increasing Air Pollution Push
Air Care Product Sales
“A lot of countries are showing a very positive rate of
development,” states a TMR analyst. “The quality of life in Asia
Pacific, for instance, is fast improving, and the disposable income
that individuals hold is increasing as well. This is turning many
consumers towards retail markets such as air care products for their
cars and their homes, thus adding a significant weight to the demand
for air care products on a global level.”
Asia Pacific and Latin America are most visibly showing high economic
growth rates and preference for a wide array of air care products.
This also applies to countries from other regions such as Egypt,
where the massive amounts of dust in the air is creating an equally
high demand for air care products.
Substitute Products Expected to Continue Slowing Air Care Product
Sales
A lot of countries, especially from the economically developing
regions, still make use of homemade or locally produced dried herbs,
flowers, and plant essences for fragrances and air cleansing. These
are direct substitutes of air care products and are therefore
reducing the effective consumer base for them.
The impact of substitute usage is expected to remain high between
2015 and 2021 owing to their lower costs and the current lack of
awareness of the diverse range of air care products.
Request Brochure of the Report @
Europe Could Lose Leading Position to APAC in Air Care Products
Revenue
Expanding at a predicted CAGR of 2.6% within a forecast period from
2015 to 2021, the global market for air care products is expected to
reach US$11.7 bn by the end of 2021. By the end of 2016, its revenue
is expected to reach US$10.5 bn.
Europe is the leading consumer region of air care products in the
world for now. By 2021, it is expected to reach US$3.68 bn in
revenue, but will most likely be overtaken by Asia Pacific thanks to
the rapidly increasing demand for air care products in this region.
The retail sales of air care products exceed B2B sales by a huge
margin. By the end of 2021, the overall retail sales of air care
products are expected to reach US$11.28 bn. The demand for spray or
aerosol air fresheners is expected to remain high till 2021. It will
end up reaching US$3.94 bn in revenue by the end of 2021.
The information presented in this review is based on a Transparency
Market Research report, titled, “Air Care Market - Global Industry
Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2021.”
Checkout page @
No comments:
Post a Comment