Please Wait.....
Report
Fragrances and Perfumes - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029
Market Report I 2024-02-17 I 134 Pages I Mordor Intelligence
The Fragrance & Perfume Market size is estimated at USD 65.71 billion in 2024. It is anticipated to reach USD 89.35 billion by 2029, registering a CAGR of 6.34% during the forecast period.
People are using perfumes and fragrances since ancient times. Fragrances and perfumes contribute to personal hygiene, aromatherapy, confidence boosting, and more. These became essential products in personal grooming. Aromas benefit people working in fashion industries, offices, and everyday life. It is because they boost confidence, hide unpleasant body odors, and indicate a person's individuality. Owing to these factors, the demand for perfumes and fragrances is increasing worldwide. The sales of luxury perfumes are growing due to rising disposable income and changing lifestyles. According to LMVH's annual report 2021, sales of perfumes and cosmetics grew by 26% in 2021.
Furthermore, unisex perfumes are in high demand as perfumes and fragrances are becoming style statements among high-class people. Also, consumer demand for natural perfumes is increasing due to rising consciousness about the health impact of synthetic ingredients. Key market players are focusing on developing exciting new fragrances to attract different consumer groups worldwide. The rising popularity of lighter-scented products, especially among the millennial population, and affordable body splashes, body mists, and cologne body sprays are expected to boost the sales of perfume and fragrance products in developed economies. Also, celebrity endorsements, product advertising, and social media trends entice consumers to choose from different variants of fragrances. Although the demand is increasing, the presence of fake brands in the market can hamper the growth and brand position, restraining the market growth. However, the demand for perfumes and fragrances is expected to increase owing to the expanding distribution network, penetration of e-commerce retail, and rising demand for high-quality products.
Fragrance & Perfume Market Trends
Increasing Demand for Luxury Perfumes
Due to rising disposable income, the demand for luxury perfumes and fragrances is increasing among consumers. Perfumes and fragrances are considered personal hygiene products and style statements these days. Due to this, the demand for natural-based and high-quality, long-lasting scents is increasing. The market players are investing in their research and development departments to produce innovative fragrances. The rise of social media and celebrity endorsement impacts the advertisement strategies adopted by key market players. With the rise in online sales, cosmetics, and perfume retailers are increasingly adding images and videos to boost the sales of perfumes and fragrances. Some online cosmetics retailers also offer the possibility to customize their perfumes and fragrances. Thus, the key market players heavily invest in advertisement and promotion to attract consumers through innovations. For instance, in December 2021, YSL Beauty, a brand of Loreal, launched the scent station. This technology works based on neuroscience and suggests the perfume for consumers according to their emotions. It helps consumers in better decision-making while purchasing perfumes. Furthermore, the market is expected to witness significant growth in artisanal and custom fragrance product sales over the next five years, owing to the increasing expenditure on advertisement and promotion.
Asia-Pacific Emerges as the Fastest-growing Market
China is one of the world's hotspots and fastest-changing beauty markets. It is experiencing a burgeoning demand for luxury perfume and fragrances. It led to an increasing number of foreign manufacturers expanding their footprints in the Chinese market. The growth in organized retail and the emergence of a young urban population in Indian cities, with increasing disposable income, mounting aspirations, changing lifestyles, and increased affordability for lifestyle-oriented and luxury products, are the main drivers boosting the demand for fragrance and perfumes in the region. Further drivers include more excellent product choice and availability, given the growth of the e-commerce market in the country.
Lately, pocket perfumes and mini and travel-sized perfumes increased in popularity because they are convenient to carry around and can be used on the go. Owing to this, the manufacturers are launching new perfumes in different-sized bottles. For instance, in October 2021, Kanelle launched its fragrance range, Scentsationally You, in India. The fragrance is available in five different scents on the brand's e-commerce store. It includes a range of sizes with full-size and mini bottles and several product options.
Fragrance & Perfume Industry Overview
The fragrances and perfumes market is highly competitive and comprises international and regional competitors. The prominent players in the market include Burberry Group PLC, Chanel SA, PVH Corp., LVMH Moet Hennessy Louis Vuitton, and Dolce & Gabbana. The market players are adopting strategies like acquisitions, expansions, and product launches. They are also focusing on online product distribution channels, marketing, and branding to attract more customers.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Demand for Luxury Perfumes
4.1.2 Popularity of Natural Products
4.2 Market Restraints
4.2.1 Presence of Counterfeit Products
4.3 Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 Parfum or De Parfum
5.1.2 Eau De Parfum (EDP)
5.1.3 Eau De Toilette (EDT)
5.1.4 Eau De Cologne (EDC)
5.1.5 Other Product Types
5.2 Consumer Group
5.2.1 Men
5.2.2 Women
5.2.3 Unisex
5.3 Distribution Channel
5.3.1 Online Retail Stores
5.3.2 Offline Retail Stores
5.3.2.1 Supermarkets/Hypermarkets
5.3.2.2 Specialty Stores
5.3.2.3 Convenience Stores
5.3.2.4 Other Offline Retail Stores
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.1.4 Rest of North America
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 Spain
5.4.2.4 France
5.4.2.5 Italy
5.4.2.6 Russia
5.4.2.7 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 Rest of Asia-Pacific
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle East and Africa
5.4.5.1 South Africa
5.4.5.2 Saudi Arabia
5.4.5.3 Rest of Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Dolce & Gabbana S.r.l.
6.3.2 Burberry Group PLC
6.3.3 PVH Corp.
6.3.4 Chanel SA
6.3.5 Coty Inc.
6.3.6 Kering SA
6.3.7 The Estee Lauder Companies Inc.
6.3.8 LVMH Moet Hennessy Louis Vuitton
6.3.9 L'Oreal SA
6.3.10 Natura Cosmeticos SA
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security