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The Indian Air Care Market Expects A Cagr Of ~20.7% By 2023
The Air Care Market in India is expanding at a compound annual growth rate of ~20.7% from 2018. With this, the market is valued at INR 18.48 Billion by 2023.
Home fresheners, car fresheners, and bathroom fresheners are the main three segments of the air-care market. Though the air-care market is new to the Indian industry, the home-freshener segment was valued at INR 1.5 billion while the car fresheners segment was valued at INR 2.5 billion in the previous year. Both segments acquired a 50% share of the overall air-care market in India.
The possible growth factors are the increase in the demand for air-care products and services due to cleaner environment preferences of people. The increase in the number of car sales in recent years has also said to be one of the predicted reasons.
What are the market drivers?
Since the lifestyle of Indians has changed over the past few years, Indian consumers don’t mind spending on air-fresheners for an odor-free home, washrooms or cars.
While rural areas still adhere to incense sticks, the urban consumer is more likely to use various air-care products including spray, aerosol air fresheners. The modern and sophisticated offerings by the air-care market are seen more preferred over traditional sticks.
As per a recent air care market research report, the demand for premium and value-added air fresheners products with better fragrance is increasing accounting to developments in the market. This trend is observed more in upper-middle-class consumers.
What are the challenges that the market may come across?
The harmful ingredients such as phthalates used in certain air fresheners can bring in a negative impact on the user. The severe cases can result in health conditions such as asthma, allergies or even reproductive abnormalities.
People who are aware of such negative consequences prefer to stay away from air fresheners.
The market research report offers in-depth information on the competitive landscape of the Indian air-care market. The companies it covers include Dabar India Ltd, Sara Lee Corporation, Godrej Consumer Products Ltd, Reckitt Benckiser Pvt Ltd, Airance, Midas Care Pharmaceuticals Pvt Ltd, JK Helene Curtis Ltd
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