Lewes, DE -- (SBWIRE) -- 03/21/2016 -- World Air Freshener Market - Opportunities and Forecasts, 2014 - 2020, the world air freshener market is estimated to garner $11.04 billion by 2020, registering a CAGR of 2.8% during the forecast period, 2015–2020. Globally, Europe was the leading market in 2014, with about 36% of the market share, followed by North America. Asia-Pacific is anticipated to exhibit the fastest growth, registering a CAGR of 4.5% during the forecast period.

Various types of air fresheners marketed by companies include spray/aerosol, electric, gels, candles and others. Spray/aerosol type air fresheners segment occupied the largest market share of the overall market in 2014. The segment is anticipated to lead the market throughout the forecast period, owing to higher popularity amongst households for the purpose of home-care. The segment of Gel air fresheners holds huge growth potential during the forecast period, due to the increasing usage of these fresheners in cars. Further, air fresheners with battery operated dispenser systems are gaining importance over electric counterparts as they do not require a plug in socket. Candle air fresheners are preferred for festive and other occasional use; however, cases of fire accidents have limited their adoption in main stream application areas.

Residential usage is the largest application segment for air freshener products holding approximately 51% of the market share in 2014, owing to the large-scale adoption of these fresheners in households. However, in terms of growth, the application segments of cars and commercial spaces such as hotels and malls are expected to witness higher growth during the forecast period. The growth in adoption of air fresheners in cars is expected to be supplemented by factors such as increasing car sales and growing adoption of gel based fresheners among car owners.

Retail and business-to-business are the two major sales channels of air fresheners. Retail sales channel accounts for larger share of the overall sales of air fresheners, owing to higher rate of adoption amongst individuals and households for the purpose of home care and for usage in cars. The segment is expected to maintain a dominant position throughout the forecast period.

Key findings of the study:
In 2014, Sprays/Aerosols air fresheners was the largest revenue-generating product type and would continue to lead the market through 2020
Residential usage dominated the application segment in 2014 and would maintain this trend throughout the analysis period.
By sales channel, retail would account for the larger share of the overall sales revenue throughout 2014-2020
Asia-Pacific would register the fastest growth rate during the forecast period and would contribute nearly 29% of the market revenue by 2020

The key market players in the world air freshener market are Procter & Gamble Co., Reckitt Benckiser Inc., Henkel KgaA, Church & Dwight Co. Inc., Car-Freshener Corporation, SC Johnson & Son Inc., Kobayashi Pharmaceutical Co. Ltd., Godrej Household Products Ltd., Farcent Enterprise Co. Ltd. and Jarden Corporation. The players operating in the market have launched air fresheners with a variety of fragrances and other innovative value propositions in order to gain competitive advantage.

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