The Indian home fragrance industry is growing at an unprecedented pace and is poised to grow at a CAGR of 20%.
In India, nowadays, fragrances are not perceived as a luxury anymore, but an indispensable part of the lifestyle. In the times ahead, India will be one of the major growth drivers of the global home fragrance industry.
There is a growing appetite for not just perfumes & deodorants, but also for home fragrance products such as sprays, candles, scented oils & diffusers. It is estimated that around 40% of the overall fragrance industry is run by such home fragrance products.
The Indian market size of home fragrances is nearly US$ 200 million, constituting less than 3% of the global consumption. As per Research and Markets’ data—an international business intelligence platform—the fragrance industry in India growing at a CAGR of 32.7%.
The Indian home fragrance industry is growing at an unprecedented pace and is poised to grow at a CAGR of 20%, outstripping the global average of 4.6%.
Upcoming Trends for Home Fragrance market in Franchising
People are becoming more serious about their lifestyle and personal care, and fragrances are perceived as a quintessential part of that. These days, fragrances are not perceived as a luxury anymore, but an indispensable part of personal care.
“Interestingly, as the popularity of home fragrances is increasing, their role is no more limited living room or washroom. They are increasingly finding a place in cars, offices, hospitality (spas & hotels, etc.). Also, there is a growing propensity to experiment with flavours. Consumers are experimenting a lot these days before zeroing down to the flavour of their choice,” says Jason Tongue, Director, Rosemoore India.
Rosemoore is a well-established brand and offers franchise opportunities in the field of home fragrances.
One can get a Rosemoore Franchise with an investment of around Rs 20 Lakhs (this includes the license fee of Rs 2 Lakhs). The shops are generally 100-200 Sq. ft in size, and mostly located in high street retail or big malls. The anticipated returns will be around 30-35%.
Rosemoore has 100 plus franchise stores across various formats and is planning to add 50 franchise outlets for FY19-20. The company currently has various formats including exclusive Boutique Outlets, Life Style & Home Décor Furniture, Super Market, Departmental store, Hyper Market, Cash and carry, E-Commerce, Hospitality & Spa, Health Care &pharma, Book store, gift store, coffee shop etc.”