Emerging Countries Show Promising Growth in Air Care Market

The global air care market, according to market intelligence firm Transparency Market Research, is poised to expand at a rather meagre CAGR of 2.60% from 2015 to 2021, rising from a value of US$9.8 bn in 2014 to US$11.7 bn by 2021.

The firm identifies three of the most rapidly expanding regional markets for air care – India, Brazil, and Singapore – and states that these emerging countries will witness a surge in demand for air care products over the coming years.

Here’s a snapshot of how these three markets have been faring in recent years.

> India: The growth of India’s air care market can be attributed mainly to the launch of new product categories and the rising demand for air care products from urban consumers. The rising aspirations of the middle class for pleasant surroundings, increased promotional activities, and the surge in disposable income have also contributed towards the growth of the air care market in India. Owing to its popular and well-established brand Odonil, Dabur India Ltd. has emerged as one of the leading air care companies.

> Brazil: The air care market in Brazil has been greatly driven by the trend of indulgence within smaller households and high promotional levels. An increasing number of Brazilians have been choosing entertainment activities at home instead of going out, a trend that has resulted in the rising demand for air care fragrances. International companies such as Reckitt Benckiser and Ceras Johnson have been dominating a rather concentrated air care products market in Brazil. On the flip side, the high price of such products and the low disposable income in the country is likely to restrain the air care market in Brazil.

> Singapore: The air care market in Singapore has been witnessing a fluctuating pace. On the one hand, there has been a decline in demand owing to the higher tendency of consumers to purchase air conditioning systems to combat foul smells in the home. On the other hand, factors such as the growing presence of private labels, a strengthening retail distribution system via supermarkets, a surge in home care sales, an increase in marketing campaigns by way of online retailing, and the introduction of multipurpose products are likely to boost the air care market in Singapore.

Apart from these, there are several other countries that have been contributing towards the growth of the global air care market. The rising standard of living in Latin America, especially in Argentina, is fueling the air care market. A number of European countries, such as the Czech Republic, Hungary, and Poland have also been experiencing a similar improvement in the standards of living. Countries within the Asia Pacific have made rapid progress in the air care market as they offer significant opportunities for manufacturers as well as distributors.

Some of the leading players within the global air care market are Chesapeake Bay Candle, Henkel Group., Reckitt Benckiser Inc., Procter & Gamble Co., American Covers, Inc., Candle-lite, Inc., Car Freshener Corporation, Church & Dwight Co. Inc., SC Johnson & Son Inc., and WD-40 Co.

Browse Press Release: http://www.transparencymarketresearch.com/pressrelease/air-care-market.htm


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