Irving, Texas (PRWEB) March 02, 2013
The global air freshener industry experienced good growth over the last five years and is expected to continue its growth momentum to reach approximately US $10.2 billion in 2017 with a CAGR of 4% over next five years.
Lucintel, a leading global management consulting and market research firm, has analyzed the global air freshener industry and presents its findings in “Global Air Freshener Industry 2012-2017: Trend, Profit, and Forecast Analysis.”
The global air freshener industry witnessed solid growth due to changing demographic trends in various regions of the world. Europe represents the largest regional market for the global air freshener industry. The industry is consolidated with leading players that compete fiercely with one another to hold their place in the market. After recovering from recessionary period, the industry is now in a growing phase with rising per capita income, changing standards of living, and increasing consumers’ spending power.
Lucintel’s research indicates that the global air freshener industry witnessed grew during the last five years as product innovations, increased propensity for luxury products, and rising affluence were the driving forces for the industry demand. The industry is highly influenced by increasing demand in Asia Pacific and Rest of the World regions due to improving, well-appointed lifestyles and demographic factors with rising population in developing countries.
As per the study, some of the challenges of the industry include economic recession and constrained resources, long with others. The global air freshener industry is primarily driven by the purchasing power of consumers, their amount disposable income, and rising population. Product developments and innovations with availability of different product categories and decorative features attract customers. The rapidly growing industry is projected to register a faster growth encouraged by innovative products such as spray, automatic fresheners, and air freshener candles.
For a detailed table of contents and pricing information on this timely, insightful report, contact Lucintel at +1-972-636-5056 or via email at helpdesk(at)lucintel(dot)com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, growth challenges and cost efficiency.
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