Perfume and Fragrance Market: Global Industry Analysis and Forecast (2022-2029)

Perfume and Fragrance Market size was valued at US$ 44.38 Bn. in 2021 and the total revenue is expected to grow at a CAGR of 5.5% through 2021 to 2029, reaching nearly US$ 68.11 Bn.
Perfume and Fragrance Market Overview:
A fragrance is a mixture of organic compounds that emits a characteristic odour or odour. A perfume is a liquid mixture that is used to produce a pleasing odour. Fragrant essential oils sourced from plants and spices, as well as synthetic aromatic molecules, are used to make it. Fragrances offer a lot of relaxing characteristics that might help humans to keep their mind in check and fight insomnia. Perfumes contain components that help to relieve headaches, and the myriad therapeutic effects will keep you calm.To know about the Research Methodology :- Request Free Sample Report
Perfume and Fragrance Market Dynamics:
Major market players are concentrating their efforts on creating exciting, unique, and innovative fragrances to appeal to a variety of consumer groups around the world. During the forecast period, perfumes and colognes, as well as body sprays and other scented body products, are expected to grow significantly. Similarly, premium perfumes are driving growth in developed regions such as North America and Europe, whereas mass scents are losing value.

Fragrance contains pheromones, a substance with aphrodisiac characteristics, so it can work as an aphrodisiac. This makes someone who wears perfume correctly incredibly appealing to others. The application of scent is crucial, and ensuring that the proper areas are targeted is crucial.

Individual grooming habits have improved as a result of fragrance and perfumes, which have become key products in everyday life. Perfume and scent products are used to mask the unpleasant odours that sweating causes. The global Perfume & Fragrance Market has been impacted by rapid urbanisation. In the Perfume & Fragrance Market, lifestyle changes, as well as growing living standards, have had a favourable impact.

The trend of retail therapy, which is effortless, calming, and ultimately joyful shopping, is one of the key forces promoting perfume and fragrance sales. The industry has been spurred by an increase in disposable money for personal and beauty care items, as well as increased awareness of personal cleanliness.

The market for cosmetics and toiletries is expected to be driven by rising demand for car and room fresheners, as well as the growing popularity of aromatherapy. Increasing demand from growing application sectors such as insecticides, candles, and incense sticks is expected to drive market growth over the forecast period.
Perfume and Fragrance Market Segment Analysis:
Based on the Product Type, the market is segmented into Eau De Parfum, Eau De Toilette, Eau De Cologne, Eau Fraiche, and Others. Eau De Parfum and Eau De Toilette segments are expected to hold the market share of xx% and xx% by 2029. Eau de parfum has a fragrance concentration of 15-20% and can last up to four hours. It is appropriate for everyday use.

Grooming water is referred to as EAU De Toilette (EDT). EDT contains aromatic oils in the range of 5% to 15%. The scent lasts for two to three hours at the most. EDT is used for daytime usage, whereas Eau de Parfum is reserved for evening wear. This is the case with the majority of male fragrances.Based on the Distribution Channel, the market is segmented into Online Retail Stores, Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, and Other Offline Retail Stores. Online Retail Stores segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2021-2029. This is due to many cosmetic and toiletry companies are merging with e-commerce players to extend their product portfolios, the online retail distribution channel is expected to rise at a high rate during the forecast period. Cosmetics and perfume retailers are increasingly using photos and videos to enhance sales of perfumes and aromas, due to the rise in online sales. Some online cosmetics stores also allow customers to customise their scents and smells.
Perfume and Fragrance Market Regional Insights:
Europe dominates the Global Perfume and Fragrance market during the forecast period 2021-2029. Europe is expected to hold the largest market shares of xx% by 2029. This is due to the rising disposable income and increased consumer awareness of personal hygiene. Due to the influence of the fashion sector and consumer awareness of personal grooming, Europe is expected to emerge as the largest regional market. These are the major factors that drives the growth of this region in the Global market during the forecast period 2021-2029.

Europe Perfumes and Fragrances Consumption in 2018, by Country (in Millions of Euros)

Asia Pacific is expected to grow rapidly at a CAGR of xx% during the forecast period 2021-2029. Asia-Pacific countries such as China, Japan, South Korea, Indonesia, Malaysia, Singapore, and others are key contributors to the region's rank as the world's fastest-growing fragrance and perfume market. Pocket perfumes have become increasingly popular in recent years due to their portability and ability to be used on the go. CavinKare, the FMCG behemoth, debuted the first-of-its-kind sachet perfume under the Spinz brand.

The objective of the report is to present a comprehensive analysis of the Global Perfume and Fragrance Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Global Perfume and Fragrance Market dynamic, structure by analyzing the market segments and project the Global Perfume and Fragrance Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Perfume and Fragrance Market make the report investor’s guide.
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Global Perfume and Fragrance Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 44.38 Bn.


Forecast Period 2022 to 2029 CAGR:
5.5%
Market Size in 2029:
US $ 68.11 Bn.


 Segments Covered:
by Product Type
• Eau De Parfum
• Eau De Toilette
• Eau De Cologne
• Eau Fraiche
• Others


by Consumer Group
• Male
• Female
• Unisex


by Distribution Channel
• Online Retail Stores
• Supermarkets/Hypermarkets
• Specialty Stores
• Convenience Stores
• Other Offline Retail Stores



Perfume and Fragrance Market, by Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa
Perfume and Fragrance Market Key Players are:
• Elizabeth Arden, Inc.
• LVMH
• PVH Corp.
• Loreal
• Shiseido
• IFF
• Chanel SA
• Estee Lauder
• Avon
• Vivenza
• Royal Beauty Group Co.
• AlQuraishi Fragrances
• Reehat Al Atoor
• Asghar Ali Co. W.L.L.
• Rasasi Perfumes Industry LLC
• Arabian Oud
• Swiss Arabian Perfume Grp
Frequently Asked Questions:
1] What segments are covered in Global Perfume and Fragrance Market report?
Ans. The segments covered in Global Perfume and Fragrance Market report are based on Product Type, Consumer Group, and Distribution Channel.

2] Which region is expected to hold the highest share in the Global Perfume and Fragrance Market?
Ans. Europe is expected to hold the highest share in the Global Perfume and Fragrance Market.

3] Who are the top key players in the Global Perfume and Fragrance Market?
Ans. Elizabeth Arden, Inc., LVMH, PVH Corp., Loreal, Shiseido, IFF, and Chanel SA are the top key players in the Global Perfume and Fragrance Market.

4] Which segment holds the largest market share in the Global Perfume and Fragrance market by 2029?
Ans. Eau De Parfum and Eau De Toilette segment hold the largest market share in the Global Perfume and Fragrance market by 2029.

5] What is the market size of the Global Perfume and Fragrance market by 2029?
Ans. The market size of the Global Perfume and Fragrance market is US $68.11 Bn. by 2029.

6] What was the market size of the Global Perfume and Fragrance market in 2021?
Ans. The market size of the Global Perfume and Fragrance market was worth US $44.38 Bn. in 2021.