Dublin, Dec. 17, 2024 (GLOBE NEWSWIRE) -- The "Thailand Home Fragrance Market | Trends, Value, Companies, Growth, Analysis, Size, Revenue, Share, Forecast & Industry" report has been added to ResearchAndMarkets.com's offering.
Thailand's Home Fragrance Market has witnessed substantial growth, primarily propelled by the expansion of the hospitality and residential sectors. Key drivers include strategic investments, such as the $511 million infusion from Chinese investors into Bangkok's real estate market in 2022, and the addition of 1,053 hotel rooms in Phuket in 2023. Additionally, streamlined visa processes for Chinese and Indian tourists have significantly bolstered tourism, driving up demand for hotel accommodations. Consequently, the market for home fragrance products has grown, as new hotels prioritize high-quality amenities to enhance the guest experience.
Thailand's Home Fragrance Market revenue is projected to grow at a CAGR of 7.8% during 2024-2030F. Thailand's home fragrance market is poised for sustained growth, fueled by an expanding tourism sector, ongoing urbanization, and rising disposable incomes.
The government's "IGNITE Thailand's Tourism" strategy is a pivotal driver, promoting tourism routes that connect major cities with emerging secondary destinations. By 2025, the country aims to attract 40 million foreign visitors and facilitate 220 million domestic trips, backed by a $178 million budget. These efforts target a 7.5% rise in tourism revenue, contributing to a projected $97 billion in total revenue. Furthermore, increasing per capita income is empowering consumers to allocate more towards discretionary items, such as home fragrances, thereby accelerating market expansion.
In 2023, air fresheners became the leading product in Thailand's home fragrance market, driven by their affordability, broad availability, and ease of use, making them the preferred choice among consumers. Supermarkets and hypermarkets dominated the distribution landscape, offering convenience, a wide product range, and competitive pricing. The residential sector emerged as the largest end-user segment, bolstered by increasing urbanization, rising disposable incomes, and the growing trend of home improvement.
Market Segmentation
By Product
- In 2023, air fresheners dominated the revenue share within Thailand's home fragrance market, driven by their cost efficiency, widespread availability, and ease of use. Their ability to deliver instant and effective results has positioned them as the preferred choice for consumers seeking a convenient and affordable solution to enhance indoor air quality and ambiance.
By Distribution Channel
- Supermarkets and hypermarkets dominated Thailand's home fragrance market in 2023 due to their convenience, extensive product selection, and competitive pricing. These retailers provide a one-stop shopping experience, attract a wide range of consumers, and leverage strong brand trust.
By End-User
- In 2023, the residential sector has garnered the largest revenue share in Thailand's home fragrance market due to increased urbanization and rising disposable incomes. Consumers sought to create inviting, comfortable living spaces, leading to higher demand for home fragrance products. This shift in lifestyle and focus on personalizing home environments drove the residential sector's market dominance.
Key Attractiveness of the Report
- 10 Years Market Numbers.
- Historical Data Starting from 2020 to 2023.
- Base Year: 2023
- Forecast Data until 2030.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Topics Covered:
1. Executive Summary
2. Introduction
2.1 Report Description
2.2 Key Highlights of the Report
2.3 Market Scope and Segmentation
2.4 Research Methodology
2.5 Assumptions
3. Thailand Home Fragrance Market Overview
3.1 Thailand Home Fragrance Market Revenues (2020-2030F)
3.2 Thailand Home Fragrance Market Industry Life Cycle
3.3 Thailand Home Fragrance Market Porter's Five Forces Model
4. Thailand Home Fragrance Market Dynamics
5. Thailand Home Fragrance Market Trends and Evolution
6. Thailand Home Fragrance Market Overview, By Product
6.1 Thailand Home Fragrance Market Revenue Share and Revenues, By Product (2020-2030F)
6.1.1 Thailand Home Fragrance Market Revenues, By Candles (2020-2030F)
6.1.2 Thailand Home Fragrance Market Revenues, By Air Fresheners (2020-2030F)
6.1.3 Thailand Home Fragrance Market Revenues, By Reed Diffusers (2020-2030F)
6.1.4 Thailand Home Fragrance Market Revenues, By Essential Oils (2020-2030F)
6.1.5 Thailand Home Fragrance Market Revenues, By Incense Sticks (2020-2030F)
7. Thailand Home Fragrance Market Overview, By Distribution Channels
7.1 Thailand Home Fragrance Market Revenue Share and Revenues, By Distribution Channels (2020-2030F)
7.1.1 Thailand Home Fragrance Market Revenues, By Supermarkets & Hypermarkets (2020-2030F)
7.1.2 Thailand Home Fragrance Market Revenues, By Specialty Stores (2020-2030F)
7.1.3 Thailand Home Fragrance Market Revenues, By Online (2020-2030F)
7.1.4 Thailand Home Fragrance Market Revenues, By Others (2020-2030F)
8. Thailand Home Fragrance Market Overview, By End-User
8.1 Thailand Home Fragrance Market Revenue Share and Revenues, By End-User (2020-2030F)
8.1.1 Thailand Home Fragrance Market Revenues, By Residential Sector (2020-2030F)
8.1.2 Thailand Home Fragrance Market Revenues, By Non-Residential Sector (2020-2030F)
9. Thailand Home Fragrance Market Key Performance Indicators
10. Thailand Home Fragrance Market Opportunity Assessment
10.1 Thailand Home Fragrance Market Opportunity Assessment, By Product
10.2 Thailand Home Fragrance Market Opportunity Assessment, By Distribution Channel
10.3 Thailand Home Fragrance Market Opportunity Assessment, By End-User
11. Thailand Home Fragrance Market Competitive Landscape
11.1 Thailand Home Fragrance Market Revenue Ranking, By Companies (2023)
11.2 Thailand Home Fragrance Market Competitive Benchmarking, By Technical Parameters
11.3 Thailand Home Fragrance Market Competitive Benchmarking, By Operating Parameters
12. Company Profiles
- Body & Bath Works
- Karmakamet
- Rituals Cosmetics (Thailand) Co., Ltd
- Yankee Candles
- Louis Vuitton Moet Hennessy
- Jo Malone London
- Harnn
- Puri Company Ltd.
- Muji
- S.C. Johnson & Son Ltd
For more information about this report visit https://www.researchandmarkets.com/r/fnxrwi
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