Air Care Market in India to Expand At CAGR Of 22.1% Till 2020
According to a new report by research on global markets, the air care market in India is expected to reach a value of INR 13.54 Bn by the end of 2020, expanding at a compound annual growth rate (CAGR) of ~22.1% from 2017. Changing lifestyle and a growing emphasis on having a clean environment among Indians is enhancing the demand for air care products in the Indian market.
According to the report, the air care market is divided into three main segments: home fresheners, car fresheners and bathroom fresheners. In 2016, the home fresheners segment was valued at INR 1.5Bn. The car fresheners segment was valued at 2.5 Bn in the same year, thus acquiring 50% of the overall market share of the air car market in India in the same year. In the recent years, the market share of car fresheners has picked up due to a rise in the sales of cars.
Key market drivers:
The rising standard of living in India, growing awareness regarding clean environment, increasing disposable income, availability of a range of products and branding and marketing efforts has led to a significant growth in demand for air care products.
Consumers, off late are willing to experiment with different variants of air fresheners including sprays, aerosol fresheners, that keep their homes odour-free. Urban consumers are switching from traditional products such as incense sticks to more sophisticated and effective offerings such as aerosols. The upper and upper middle class consumers demand for value-added air freshener’s products with better fragrance is growing rapidly. They use various fragrance based air freshener products such as lavender, jasmine, rose, sandalwood, and lemon to keep their home and car odour free.
Air fresheners has turned into a riveting market for new product developments and innovation where producers are taking the effort to convince consumers through aggressive advertising and marketing campaigns. Natural or organic air care products are an emerging trend in the industry.
Most of the fresheners available in the Indian market contain harmful ingredients like phthalates, which can lead to result in allergies, reproductive abnormalities and asthma attacks. People who are prone to such incidents should stay away from such products. The overall market is still plagues by lack of awareness among the lower and middle income groups in the country. The penetration of air freshener products is low pan India and almost negligible in rural India. This however can be seen as a massive opportunity to increase marketing efforts in these regions. P&G Home Products, Reckitt Benckiser, Dabur India, Godrej, JK Helen Curtis, Midas Care, SC Johnson India, etc. are the players operating in the air freshener market.
Key highlights in the report:
- Air Care Market in India – Market Overview, Size and Growth Forecast, (Value-Wise; FY 2015 – FY 2020e)
- Market Segmentation – Category-Wise Segmentation; Player-Wise Segmentation
- Key market drivers, challenges and trends.
- List of Major Players
- Detailed analysis of the key developments and major innovations in the market.
- Market Opportunity
Check out the Research on Global Markets report featured in this article: