Global Fragrance and Perfume Market

Global Fragrance and Perfume Market by Types (Perfume, Deodorants, and Others), End-users (Male, Female, and Unisex), Distribution Channels (Multi-retail Stores, Specialty Retail Stores, Online, and Others), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) Forecasts, 2021-2028

  • Report ID: CG-3080
  • Author: Growth Market Reports
  • Rating: 4.5
  • Total Reviews: 3
  • No. Of Pages: 205
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The global fragrance and perfume market is anticipated to expand at a significant CAGR during the forecast period, between 2021 and 2028. Perfume and fragrance refer to a combination of aromatic and essential oils compiled in a liquid that primarily aim at providing exotic or fresh scent. Perfumes were earlier seen as a commodity bought by the affluent, but now these fragrances are purchased by the general public to attain an agreeable scent. Fragrances and perfumes are made of various exotic smells such as floral, woody, fresh, and oriental. Perfumes come in a bottle that an be sprayed on the apparel or directly to the skin of the user and provide an appealing scent. These products are used to express individuality, self-reliance, and panache.

Global Fragrance and Perfume Market

Market Trends, Drivers, Restraints, and Opportunities

  • Dynamic fashion trends and the increasing adoption of perfumes primarily drive the market growth.
  • Rise in consumer expenditure owing to the increase in standard of living and tendency to purchase high-end, premium quality perfumes, further spurs the growth of the market.
  • Increasing awareness about aromatic therapy and the therapeutic benefits of fragrances can accelerate the growth of the market.
  • The engagement of various luxury brands in perfume and fragrance manufacturing to cater to the premium requirements of end-users propels the market.
  • Increasing penetration of the Internet, use of smartphones, and social media marketing by influencers has encouraged the millennial generation to purchase expensive perfumes.
  • Growing counterfeiting issues and the adulteration of perfumes with chemical substances that are harmful for the body hamper the market growth.
  • Heavy investments by key players toward promotion and advertisement activities, R&D, and new product innovation are some of the major factors projected to provide lucrative opportunities for the market growth in the coming years.

Scope of the Report

The report on the global fragrance and perfume market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes

Details

Report Title

Global Fragrance and Perfume Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast

Base Year

2020

Historic Data

2018 & 2019

Forecast Period

2021–2028

Segmentation

Types (Perfume, Deodorants, and Others), End-users (Male, Female, and Unisex), Distribution Channels (Multi-retail Stores, Specialty Retail Stores, Online, and Others)

Regional Scope

Asia Pacific, North America, Europe, Latin America, and Middle East & Africa

Report Coverage

Market Scope, Analysis, Share, Competitive Analysis, Growth Facts, Restraints, Opportunities, and Revenue Forecast

Global Fragrance and Perfume Market Segment Insights

Emphasis on quality, exclusivity, and customization drives the perfume segment

Based on types, the market can be segmented into perfume, deodorants, and others. The perfumes segment accounted for a significant market share in 2020 and is projected to expand at a robust CAGR during the forecast period. Increasing customization by premium brands toward perfumery and catering to the dynamic fashion trend drive the segment growth. Increasing demand for perfumes by the end-users accelerates the growth of the market. The luxury brands engage in the making of premium quality perfumes, which influences the younger generation to purchase expensive perfumes manufactured by notable luxury brands such as Chanel, LVMH, and Gucci. Social media marketing toward the promotion and sale of perfumes and the launch of new and innovative perfumes also propels the demand for perfumes. Luxurious packaging of products by luxury brands such as premium glass bottles attract customers to buy perfumes.

Global Fragrance and Perfume Market

Growing working population of women has accelerated the growth of the market

On the basis of end-users, the market can be classified as male, female, and others. The female segment is expected to account for a significant market expansion during the forecast period. The rise of working population of women, especially in developing countries such as India, China, and Japan has given women financial independence and stability, which influences the growth of the female segment in the perfume and fragrances market. The preference for women to purchase a wide range of perfumes based on their customized choices has further driven the growth of the segment. The launch of innovative perfumes by various key players to adhere to the end-user requirements has significantly fueled the market expansion in terms of revenue. The unisex segment is projected to grow at a substantial rate due to the multipurpose use and diverse scent that can be used by both men and women.

Multi-retail stores segment to expand at a high CAGR during the forecast period

In term of distribution channels, the market can be categorized as multi-retail stores, specialty retail stores, online, and others. The multi-retail stores segment held a significant share in the market in 2019 and is projected to grow at a robust rate during the forecast period. Multi-brand stores have a huge range of perfumes and fragrances for the customers to choose from. Brand specialty, originality, and excellent customer service are few of the factors that have led to the growth of the multi-retail stores segment. Multi brand stores offer customer service to guide the customers toward the perfume of their choice or requirement, along with festive offers, incentives, and deals which has surged the growth of the market segment. The online segment is also projected to grow significantly due to the rising penetration of the internet and social media marketing by key players.

Global Fragrance and Perfume Market

The market in Asia Pacific to expand at a robust CAGR during the forecast period

In terms of regions, the global fragrance and perfume market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is projected to account a considerable share of the market during the forecast period owing to the high penetration of the Internet in developing countries such as India, China, and Japan, aided with the increase in per capita income and standard of living of the people in countries such as India and China.  North America also contributes to a significant market share due to the rising working women.

Global Fragrance and Perfume Market

Segments

By Types

  • Perfume
  • Deodorants
  • Others

By End-users

  • Male
  • Female
  • Unisex

By Distribution Channels

  • Multi-retail Stores
  • Specialty Retail Stores
  • Online
  • Others

By Regions

  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East & Africa

Competitive Landscape

Key players in the global fragrance and perfume market include Kilian, Coty UK, Loreal, LVMH, International Flavors & Fragrances, Givaudan, Procter & Gamble Prestige Beaut, Estee Lauder Beautiful, Firmenich, and Symris. These players are widely engaged in various business development strategies including mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence and expand their consumer base globally.

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Fragrance and Perfume Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Fragrance and Perfume Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Fragrance and Perfume Market - Supply Chain
  4.5. Global Fragrance and Perfume Market Forecast
     4.5.1. Fragrance and Perfume Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Fragrance and Perfume Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Fragrance and Perfume Market Absolute $ Opportunity
5. Global Fragrance and Perfume Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Fragrance and Perfume Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Fragrance and Perfume Demand Share Forecast, 2019-2026
6. North America Fragrance and Perfume Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Fragrance and Perfume Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Fragrance and Perfume Demand Share Forecast, 2019-2026
7. Latin America Fragrance and Perfume Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Fragrance and Perfume Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Fragrance and Perfume Demand Share Forecast, 2019-2026
8. Europe Fragrance and Perfume Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Fragrance and Perfume Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Fragrance and Perfume Demand Share Forecast, 2019-2026
9. Asia Pacific Fragrance and Perfume Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Fragrance and Perfume Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Fragrance and Perfume Demand Share Forecast, 2019-2026
10. Middle East & Africa Fragrance and Perfume Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Fragrance and Perfume Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Fragrance and Perfume Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Fragrance and Perfume Market: Market Share Analysis
  11.2. Fragrance and Perfume Distributors and Customers
  11.3. Fragrance and Perfume Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)

By Types

  • Perfume
  • Deodorants
  • Others

By End-users

  • Male
  • Female
  • Unisex

By Distribution Channels

  • Multi-retail Stores
  • Specialty Retail Stores
  • Online
  • Others

By Regions

  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East & Africa

Key players in the global fragrance and perfume market include Kilian, Coty UK, Loreal, LVMH, International Flavors & Fragrances, Givaudan, Procter & Gamble Prestige Beaut, Estee Lauder Beautiful, Firmenich, and Symris. These players are widely engaged in various business development strategies including mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence and expand their consumer base globally.

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