- Emergence of essential oil-based sprays, expansion of the retail sector, and affinity of people toward cleanliness drive the global air purifying spray market.
PORTLAND, Ore., Sept. 15, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Air Purifying Spray Market by Type (Aromatic & Non-Aromatic), End-Use (Institutional & Household) and Sales Channel (Supermarket/Hypermarket, Retail Pharmacy, Online & Others): Global Opportunity Analysis and Industry Forecast, 2021–2027." According to the report, the global air purifying spray industry generated $28.7 million in 2019, and is expected to generate $46.6 million by 2027, witnessing a CAGR of 9.1% from 2021 to 2027.
Drivers, restraints, and opportunities
Emergence of essential oil-based sprays, expansion of the retail sector, and affinity of people toward cleanliness drive the global air purifying spray market. However, lack of awareness among consumers hinders the market growth. On the other hand, surge in expenditure on healthcare and surge in need for hygienic work environment in offices and other public places create new opportunities in the coming years.
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- Manufacturing of air-purifying sprays has been stopped due to disruption in raw material supply and close down of facilities during the lockdown.
- The demand has been decreased significantly due to shut down of offices and commercial buildings, in which, these sprays were used considerably.
- Supermarkets have been shut down and online platforms have stopped delivery services during the lockdown, so the sales have been impacted badly. Though lockdown restrictions have been lifted off, it will take time for demand to take off.
The aromatic segment to continue its leadership status during the forecast period
Based on product type, the aromatic segment accounted for the highest market share in 2019, contributing to nearly 88% of the global air purifying spray market, and is expected to continue its leadership status during the forecast period. Moreover, this segment is expected to grow at the largest CAGR of 9.4% from 2021 to 2027. This is attributed to multi-functionality of these products as it reduces microorganism propagation and improves pleasant smelling. The report also analyzes the non-aromatic segment.
The supermarkets/hypermarkets segment to maintain its dominant share by 2027
Based on sales channel, the supermarkets/hypermarkets segment accounted for nearly two-fifths of the global air purifying spray market in 2019, and is expected to maintain its dominant share throughout the forecast period. This is attributed to the rise in adoption of supermarkets and hypermarkets in mature and emerging countries and the one-stop solution offered by these retail formats. However, the online segment is expected to witness the highest CAGR of 10.1% from 2021 to 2027, owing to ease of accessibility and convenience along with discounts available on different platforms.
Asia-Pacific to offer lucrative opportunities, North America to grow steadily
Based on region, Asia-Pacific contributed to the largest market share, holding more than one-third of the global air purifying spray market in 2019, and is estimated to maintain its highest contribution by 2027. Moreover, this segment is estimated to grow at the fastest CAGR of 10.3% from 2021 to 2027. This is attributed to improvement in the infrastructure, convenience in starting new businesses, and inclination of people toward hygiene. However, North America is expected to grow at the second-highest CAGR of 8.7% during the forecast period.
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Leading market players
- North Woods
- Pro Part International
- Reckitt Benckiser
- Pax Air
- 1001 Remedies
- Remicure Lifescience Pvt. Ltd.
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SOURCE Allied Market Research