Perfume market was valued at USD 37.79 Billion in 2023, and it is expected to reach USD 51.43 Billion by 2030, exhibiting a CAGR of 4.5 % during the forecast period. Perfumes and fragrances have become essential products for day-to-day life and have improved the grooming habits of individuals; regardless of the gender. The perfume market is segmented by type into Eau De Parfum (EDP), Parfum or De Parfum, Eau De Cologne (EDC), Eau De Toilette (EDT), and other types. By product the market is segmented into mass and premium. By End-User, the market is segmented into men, women, and unisex. The market is segmented by geography into Asia-Pacific, Europe, North America, South America, and Middle East & Africa. By distribution channel, the market is segmented into online retail stores and offline retail stores. The offline retail stores segment is further sub-segmented into specialty stores, supermarkets/hypermarkets, convenience stores, and other offline retail stores. For each segment, the market sizing and forecasts have been done on the basis of value (in USD Billion). Nowadays, the manufacturing of perfumes has evolved into a mainstream business in the personal care and cosmetics industry. Perfumes are composed of fragrances or essential oils that attribute a pleasant aroma to the user. Perfumes contain natural ingredients largely obtained from natural sources like aromatic flowers, spices, bark, leaves, roots, balsams, fruits, resins, gums, seeds of various aromatic plants, such as sandalwood, rose and cinnamon and animal secretions including musk, ambergris, castoreum, civet, hyraceum, and honeycomb. Several synthetic ingredients are also added to the aroma compounds such as alcohol and water. Perfumes are utilized as a stimulant to influence the mood, emotions and thoughts of the individual while inducing relaxation. Lately, pocket perfumes have become popular because they are convenient to carry around. The FMCG giant, CavinKare, launched the first-of-its-kind sachet perfume under its brand, Spinz.To know about the Research Methodology :- Request Free Sample ReportPerfume Market Dynamics
Continuously Changing Fashion Trends The growth of the perfumes market is primarily influenced by continuously changing and unpredictable fashion trends. Thus, key market players are aiming for developing unique, sensational, and fresh fragrances to attract different consumer groups across the world. Perfume market is growing due to increase in demand for youth-oriented as well as exotic fragrances, and growing trend of personal grooming. The long-lasting fragrances and essential oils in perfumes give out a pleasant aroma and creates a positive impact on customers. Growing demand of Waterless Hygiene Items from Consumers Nowadays, consumers prefer waterless hygiene items that reduce unpleasant odors immediately. Besides, they prefer fragrances made up of sustainable materials such as vanilla beans, balsams, citrus oil, and others to avoid the incidences of headache and eye & ear disorders due to the usage of chemical-based ones. This will further drive the growth of perfume market and offer newer market growth opportunities. Premium and Luxury Fragrances among the Millennial Among the millennial population, growing popularity of lighter-scented products and the availability of affordable body mists, cologne body sprays, and body splashes are expected to increase the sales of perfume products in developed countries. Increasing consumer spending on premium and luxury fragrances due to the high-income level, along with improving living standards, is driving the growth of perfume market. Innovative Fragrant Solutions to Accelerate Market Growth Companies are introducing touchless, innovative scent devices and Al-based solutions for regular perfume users to accelerate perfume market growth. These solutions include offering a scent profile for individual users and suggesting a scent based on their flavor preferences. This will attract the consumers toward buying such products, thereby accelerating the perfume industry growth. Online Shopping to Fuel Perfume Market Growth Perfume market is flourishing across all the different regions, thanks to the rising consumer inclination towards online shopping. Increasing attractive discounts and promotions offered by various e-commerce sites, such as Flipkart, Amazon, Myntra, and others, compel the consumers to buy products at reasonable rates. This is giving rise to the market growth. R&D and Advertisement to upsurge Perfume Market Other major factors propelling the demand for perfumes worldwide are increasing population rapid urbanisation, and aggressive advertising by the manufacturers. Advertisements and R&D are driving the market growth. Furthermore, the increasing influence of social media and celebrity endorsement is impacting the advertisement strategies adopted by major market players. With the upsurge in online sales, perfume and cosmetics, retailers are progressively adding images and videos to increase the sales of perfumes and fragrances. Customized Fragrances and Perfumes are driving the growth of the Perfume Market Some online cosmetics vendors also offer the option to customize their perfumes and fragrances. Thus, the major market players heavily invest in advertisement and promotion to entice consumers to digital platforms. For example, L’Oréal developed a tool, dubbed cockpit, which measures the ROI and productivity of its media investments in real-time, enabling better decision-making while developing performance strategies. The market is expected to witness significant growth in sales of artisanal and custom fragrance products over the forecast period, owing to the increasing expenditure on advertisement and promotion.COVID-19 Impact on the Perfume Market
The global impact of COVID-19 has been devastating, with the perfume market witnessing a negative impact on demand across the world, amid the pandemic. During the pandemic, the closing of beauty shops and grocery stores has impacted product sales globally. Besides, companies faced issues in conducting their production, sales, and R&D operations due to the raw material and labor shortages, impacting the key players' businesses. For example, in 2022, a beauty items maker, Lalique Group SA, reported a 25 % decline in its fragrant essential oils business revenues. COVID-19 has led to a significant consumer shift, as buyers are no longer brand loyal and are testing new brands in the low-stock environment. According to LOréal, the consumption of personal care and beauty products, including fragrance and perfume, was deeply impacted by the closure of millions of points of sale, which caused a real crisis of supply rather than demand, with consumers temporarily unable to purchase products and services. Considering the uncertainties of COVID-19, we are constantly tracking and evaluating the direct and indirect impact of the pandemic. These insights are included in the report as a major market contributor.Perfume Market Segment Analysis
By Type, the perfume market is segmented into Eau De Parfum (EDP), Parfum or De Parfum, Eau De Cologne (EDC), Eau De Toilette (EDT), and other types. The Eau De segment is expected to be the fastest-growing perfume type during the forecast period. Globally, perfume has the highest level of fragrance concentration and includes a considerable percentage of essential oils compared to the other types. Therefore, the eau de segment is exhibiting the highest demand from the consumers, which is estimated to put it in the dominant position in the market. By Product, the mass product segment held the majority of perfume market share in 2023, owing to the bulk production from various manufacturers. Resulting in increased demand for mass products which further generate sales. However, in future, the expected decline in mass perfume products will be because of the increasing preference for premium fragrances among consumers. This has been driving the manufacturers to shift their focus towards premium products, thereby contributing to the growth of the global perfume market. The premium product segment is estimated to be the fastest-growing segment during forecast period. Due to the rising concerns of allergies and toxins in synthetic fragrances, key players are aiming on manufacturing natural fragrances in the premium products. Premium perfume accounted for more than 68.3% in 2023 and are estimated to grow at a CAGR of 4.2% during forecast period. The growth of premium products has surpassed mass fragrance products because of bigger emphasis on personalization, quality, exclusivity, handcrafted, and exotic fragrances. By End-User, the perfume market is segmented into men, women and unisex. Women segment is estimated to lead the perfume market owing to rising expenditure on cosmetic, beauty and personal care products. Women segment accounted for the largest share of 62.5% in 2023. Women population are highly inclined to purchase sustainable fragrances and perfumes for grooming, which boosts the perfume sales. Therefore, the women segment is expected to drive the growth of perfume market. Increasing grooming awareness and personal hygiene is also fuelling the growth of men segment. Men fragrances are stronger and more aromatic in nature, which, in turn, may increase the product's adoption. Men’s perfume are also popular among women because of their strong aroma and durability. The increasing demand for fragrant scents among consumers is expected to boost the perfume demand. These factors upsurge the men segmental revenues. By Distribution Channel, the market is segmented into online retail stores and offline retail stores. The offline retail stores segment is further sub-segmented into specialty stores, supermarkets/hypermarkets, convenience stores, and other offline retail stores. Online retail segment is estimated to dominate the perfume market, owing to the rapid inclination of the customers towards online shopping. Due to rising number of E-commerce platforms, like Amazon, Flipkart, Parfumdreams, Myntra, and others, the allure to buy perfume products online among consumers has increased. This will drive the online retail segment. Similarly, these platforms are expected to be growing rapidly due to increase in number of internet users. Furthermore, eye-catching discounts offered by numerous e-commerce sites are increasing the purchasing power of online customers. The offline channel accounted for more than 74.3% share in 2023. The offline segment is primarily driven by sales from specialty stores that offer premium range of products. Consumers tend to prefer offline channel to purchase preferable products because of the availability of a wide range of options as well as the facility of scanning and trying the product details before purchasing. The layout of the supermarket and promotional campaigns by dominant brands has increased the sales in the hypermarket and supermarket segment. Growth of the organized retail sectors has been driving the market by providing abundant space and visibility for the existing brands to offer their products, which is a major reason for the growth of offline retail segment.Perfume Market Regional Insights
Asia-Pacific region is estimated to dominate the global perfume market. Asian countries, for example, China, Japan, South Korea, Indonesia, Malaysia, Singapore, and other countries, are prominent contributors for the rapid growth of perfume market. Asia-Pacific emerges as the fastest-growing region in global perfume market during the forecast period. Furthermore, China is one of the world’s fastest-changing beauty markets and is experiencing escalating demand for luxury premium perfume, resulting in high number of foreign manufacturers expanding their business in the Chinese market. Given the growth of the e-commerce market in India, the main drivers increasing the demand for perfumes in India are the emergence of a young urban population in Indian cities, growth in organized retail, mounting aspirations, with increasing disposable income, changing lifestyles, greater product choice and availability, and increased affordability of lifestyle-oriented and luxury products. In North America, the perfume market was valued at USD 11.5 billion in 2022. North America contributed to a major market share owing to the growing economy and increasing demand for premium products. Moreover, the rising standard of living in the United States, Canada, and Mexico is expected to increase the market revenue in this region. Europe is home of most popular and exotic perfumes and fragrances. Chanel, a leading European company, is famous for its feminine and aromatic products. Chanel No.5, a 94-year-old perfume, featured in exhibits and museums from New York City to Paris, is one of the most popular and still highly preferred perfume in Europe. Countries contributing to the growth of the European perfume market are France, Germany and U.K. Among these countries, Germany accounted for 20.1% of the market in 2023 due to the high rate of sales of premium products through brands such as Calvin Klein, Jil Sander, Macy’s, Dolce and Gabbana, along with new launches from Versace, Hugo Boss, etc. France has been driving the European perfume market with the highest production and export values and accounted for a 29.7% share of the market. France is home for many prestigious and leading perfume brands like Chanel, Christian Dior, Guerlain, Givenchy, etc. In UAE and Saudi Arabia, the rising number of thriving e-commerce industry and beauty shops support the perfume products consumption rate in Middle East region. Dubai CommerCity, a UAE-based e-commerce technology platform provider, saw major growth in its e-commerce sales in last few years in Saudi Arabia. Increasing hygiene and grooming awareness among the South African citizens are the reasons behind the growth of African perfume market. Most of the prominent companies across the globe are determined to bring innovation and development in the perfume products to meet consumer demand. In June 2022, Givaudan introduced 'VivaScentz', an inventive scent technology that may enable the company to create different types of crafting fragrances like personal, home, fine fragrance, fabric care and oral care flavours. Inventions of such new technologies by various leading companies will boost the perfume demand. Leading companies compete on various factors such as price, product offerings, ingredients, and marketing activities, to gain a competitive advantage in the market. The objective of the report is to present a comprehensive analysis of the global Perfume 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 Perfume Market dynamic, structure by analyzing the market segments and projecting the Perfume Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Perfume Market make the report investor’s guide.Perfume Market Scope: Inquire before buying
Global Perfume Market Report Coverage Details Base Year: 2023 Forecast Period: 2024-2030 Historical Data: 2018 to 2023 Market Size in 2023: USD 37.79 Bn. Forecast Period 2024 to 2030 CAGR: 4.5% Market Size in 2030: USD 51.43 Bn. Segments Covered: by Type Eau De Parfum (EDP) Parfum or De Parfum Eau De Cologne (EDC) Eau De Toilette (EDT) by Product Mass Product Premium Product by End-User Men Women Unisex by Distribution Channel Online retail stores Offline retail stores Specialty stores Supermarkets/Hypermarkets Convenience stores Others Perfume Market, by Region
North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)Key Players of Perfume Market
1. Gucci 2. Calvin Klein 3. Dolce & Gabbana 4. Burberry Group PLC 5. Givenchy 6. Chanel SA 7. Christian Dior 8. Versace 9. Hugo Boss 10.PVH Corp. 11.Jil Sander 12.Tom Ford 13.Macy’s 14.LVMH Moët Hennessy Louis Vuitton 15.Guerlain 16.Vera Wang 17.Jean-Paul Gautier 18.L'Oréal S.A. 19.Unilever Plc 20.Hermes International 21.Giorgio Armani Beauty 22.Coty Inc. 23.Proctor and Gamble Co. 24.Estee Lauder Companies Inc. 25.Natura Cosmeticos SA 26.Givaudan 27.Avon Products Inc. 28.Shiseido Company Limited Frequently Asked Questions: 1. Which region has the largest share in Global Perfume Market? Ans: Asia Pacific region holds the highest share in 2023. 2. What is the growth rate of Global Perfume Market? Ans: The Global Perfume Market is growing at a CAGR of 4.5% during forecasting period 2024-2030. 3. What is scope of the Global Perfume market report? Ans: Global Perfume Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. Who are the key players in Global Perfume market? Ans: The important key players in the Global Perfume Market are – Gucci, Calvin Klein, Dolce & Gabbana, Burberry Group PLC, Givenchy, Chanel SA, Christian Dior, Versace, Hugo Boss, PVH Corp., Jil Sander, Tom Ford, Macy’s, LVMH Moët Hennessy Louis Vuitton, Guerlain, Vera Wang, Jean-Paul Gautier, L'Oréal S.A., Unilever Plc, Hermes International, Giorgio Armani Beauty, Coty Inc., Proctor and Gamble Co., Estee Lauder Companies Inc., Natura Cosmeticos SA, Givaudan, Avon Products Inc. and Shiseido Company Limited. 5. What is the study period of this market? Ans: The Global Perfume Market is studied from 2023 to 2030.
1. Global Perfume Market Size: Research Methodology 2. Global Perfume Market Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Perfume Market Size 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Perfume Market Size: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12. COVID-19 Impact 4. Global Perfume Market Size Segmentation 4.1. Global Perfume Market Size, by Type (2023-2030) • Eau De Parfum (EDP) • Parfum or De Parfum • Eau De Cologne (EDC) • Eau De Toilette (EDT) 4.2. Global Perfume Market Size, by Product (2023-2030) • Mass Product • Premium Product 5. North America Perfume Market (2023-2030) 5.1. North America Perfume Market Size, by Type (2023-2030) • Eau De Parfum (EDP) • Parfum or De Parfum • Eau De Cologne (EDC) • Eau De Toilette (EDT) 5.2. North America Perfume Market Size, by Product (2023-2030) • Mass Product • Premium Product 5.3. North America Perfume Market, by End-User (2023-2030) • Men • Women • Unisex 5.4. North America Perfume Market, by Distribution Channel (2023-2030) • Online retail stores • Offline retail stores 5.5. North America Perfume Market, by County(2023-2030) • United States • Canada 6. European Perfume Market (2023-2030) 6.1. European Perfume Market , by Type (2023-2030) 6.2. European Perfume Market , by Product (2023-2030) 6.3. European Perfume Market , by End-User (2023-2030) 6.4. European Perfume Market , by Distribution Channel (2023-2030) 6.5. European Perfume Market , by Country (2023-2030) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Perfume Market (2023-2030) 7.1. Asia Pacific Perfume Market , by Type (2023-2030) 7.2. Asia Pacific Perfume Market , by Product (2023-2030) 7.3. Asia Pacific Perfume Market , by End-User (2023-2030) 7.4. Asia Pacific Perfume Market , by Distribution Channel (2023-2030) 7.5. Asia Pacific Perfume Market , by Country (2023-2030) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Perfume Market (2020-2027) 8.1. Middle East and Africa Perfume Market , by Type (2023-2030) 8.2. Middle East and Africa Perfume Market , by Product (2023-2030) 8.3. Middle East and Africa Perfume Market , by End-User (2023-2030) 8.4. Middle East and Africa Perfume Market , by Distribution Channel (2023-2030) 8.5. Middle East and Africa Perfume Market , by Country (2023-2030) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Perfume Market (2020-2027) 9.1. South America Perfume Market , by Type (2023-2030) 9.2. South America Perfume Market , by Product (2023-2030) 9.3. South America Perfume Market , by End-User (2023-2030) 9.4. South America Perfume Market , by Distribution Channel (2023-2030) 9.5. South America Perfume Market , by Country (2023-2030) • Brazil • Mexico • Argentina • Rest Of South America 10. Company Profile: Key players 10.1. Gucci 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Calvin Klein 10.3. Dolce & Gabbana 10.4. Burberry Group PLC 10.5. Givenchy 10.6. Chanel SA 10.7. Christian Dior 10.8. Versace 10.9. Hugo Boss 10.10. PVH Corp. 10.11. Jil Sander 10.12. Tom Ford 10.13. Macy’s 10.14. LVMH Moët Hennessy Louis Vuitton 10.15. Guerlain 10.16. Vera Wang 10.17. Jean-Paul Gautier 10.18. L'Oréal S.A. 10.19. Unilever Plc 10.20. Hermes International 10.21. Giorgio Armani Beauty 10.22. Coty Inc. 10.23. Proctor and Gamble Co. 10.24. Estee Lauder Companies Inc. 10.25. Natura Cosmeticos SA 10.26. Givaudan 10.27. Avon Products Inc. 10.28. Shiseido Company Limited