the Air Freshener Manufacturing industry has weathered intense internal competition among players and changes in consumer preferences
(PRWEB) December 29, 2011
A new report from IBISWorld forecasts that the Air Freshener Manufacturing industry will continue to experience growth over the five years to 2016. Continued economic improvements will likely boost overall consumer spending, which will encourage consumers to increase their spending on discretionary home goods like air fresheners. For this reason, industry research firm IBISWorld has added a report on the Air Freshener Manufacturing industry to its growing Houseware Manufacturing Report collection.
For more information, including latest Industry trends, statistics, analysis and market share information, purchase the full report from IBISWorld, the nation’s largest publisher of industry research on the Air Freshener Manufacturing Industry for $850.
Air Freshener Manufacturing Industry Overview
The Air Freshener Manufacturing industry has stayed fresh during the past five years, despite changes in consumer spending and economic conditions. Like many producers of discretionary household goods, demand for industry goods hiked when disposable income and consumer sentiment was high in 2006 and 2007. However, the economic recession led to a decline of consumer spending, especially on discretionary products, which caused industry revenue growth to slow in 2008 and decline in 2009. When the economy began to recover, consumers once again purchased air fresheners to improve the smell of their homes. From 2006 to 2011, revenue is expected to have increased. In 2011 alone, revenue has expanded, as consumer sentiment increases and consumers are willing to spend on little luxuries.
According to IBISWorld analyst, Mary Gotaas, in addition to changing consumer spending and a volatile economy, “the Air Freshener Manufacturing industry has weathered intense internal competition among players and changes in consumer preferences,’ says Gotaas. In response, small and large companies have diversified their product lines and introduced goods to cater to consumer preferences. For instance, more companies are offering natural and organic air fresheners in response to many Americans becoming more environmentally conscious.
From 2011 to 2016, revenue is projected to grow. Companies will continue to face intense competition from other industry operators and will improve products to meet new consumer trends. With consumer sentiment and disposable income anticipated to rise in the next five years, revenue is set to increase. Also, the industry will likely consolidate. Existing firms are expected to merge to expand product lines or take advantage of new technology innovations. Company numbers are anticipated to decrease in 2016. Nevertheless, this decline will be slightly offset by small companies entering the industry due to low barriers of entry and the ability to sell products over the internet.
For more information, including latest Industry trends, statistics, analysis and market share information, purchase the full report from IBISWorld, the nation’s largest publisher of industry research on the Air Freshener Manufacturing industry for $850.
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Industry Life Cycle
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Market Share Concentration
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Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.