Global Fragrance Market size was valued at US$ XX Mn in 2019 and the total revenue is expected to grow at 3.9% from 2020 to 2027, reaching US$ XX Mn. The report has covered Country market trends with a competitive landscape.
Global Fragrance Market
Global Fragrance Market Overview:
The perfume industry has experienced important product improvements over the past few years. The usage of natural & renewable elements is receiving good traction. Apart from traditional perfume packing methods, perfumes are now accessible in the form of handy sprays & rollerballs, which is estimated to increase the global perfumes market developmentduring the forecast period.
Increasing disposable income of the consumers in emerging countries with India, Indonesia, Thailand, & China leads to the increasing spending on personal care products for improved health hygiene. Also, agrowing number of employed women &alertness regarding cosmetic products inspires the demand for personal grooming products. Improved spending on eye-catching packaging, advertisement, & promotional movement by FMCG companies containing P&G & Unilever have improved the market visibility of fragrance products. Application development of fragrance products with sprays, candles, incense sticks, & gels in the household industry is estimated to act as a main market driver. Also, moving consumer preference towards aromatherapy is estimated to increase the industry size.
Growing demand for perfumes from the millennial population likely to increase market growth
Growinguse of perfumes among the young population, growing online retail saturation, product drive strategy by main global companies, accessibility of perfumes in dissimilarvalue ranges, & increasing customer spending on personal & beauty care products are keyaspectsestimated to drive the development of the global perfumes market during the forecast period. However, obtainability of counterfeit products &usage of harmful chemical elements are several factors projected to hamper the growth of the marketduring the forecast period.The global perfumes market is seeing a rising trend of customized perfumes & the usage of renewable elements in perfume manufacturing. Global perfume producers are also offering the production of microbial based natural perfumes to provide to the growing health awareness among customers.
Online Retail distribution channel segment anticipated to register a significant CAGR during the forecast period
The offline segment was the main distribution channel in 2018, holding 92.1 percent of total market share. This distribution channel contains supermarkets & hypermarkets, brand outlets, drug stores, direct selling, & unorganized retail. In emerging countries like India, Thailand, Bangladesh, & Taiwan unorganized retail is one of the important distribution channels. Very limited manufacturers sell their products directly to the customers. Amway is one of the major direct sellers of personal care & household care products, with car fresheners, room fresheners.
The online channels segment is projected to witness a CAGR of 7.2 percent from 2019 to 2027. The growing penetration of high-speed internet & smartphone consumers is estimated to boost the development of the sector during the forecast period. Besides, the hassle-free buying, accessibility of a wide range of products, & easy delivery are also boosting the online sales sector.
Regional Outlook:
North America was the major market for the fragrance with a market share of 33.9 percent in 2018. It is expected to reach USD XX Bn by 2027. Key companies are introducing new products to increase their competitive edge. For example, in October 2018, CHANEL International B.V. introduced the limited edition red bottles N°5. Also, in March 2019, Jo Malone London–a subsidiary of Estée Lauder Companies— introduced a new line of perfumes named WILDFLOWERS & WEEDS, presented in 5 fragrances, i.e., Willow & Amber, Hemlock & Bergamot, Cade & Cedarwood, Nettle & Wild Achillea, and Lupin & Patchouli.
Competitive Landscape:
The objective of the report is to present a comprehensive analysis of the Global Fragrance Market including all the stakeholders of the industry. The past and current status of the industry with 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 includes market leaders, followers and new entrants. PORTER, SVOR, 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 report also helps in understanding Global Fragrance Market dynamics, structure by analyzing the market segments and project the Global Fragrance Market size. Clear representation of competitive analysis of key players by Distribution Channel, price, financial position, Distribution Channel portfolio, growth strategies, and regional presence in the Global Fragrance Market make the report investor’s guide.
Global Body Oil Market, By Product
• Deodorants
• Perfumes
• Others
Global Body Oil Market, By Distribution Channel
• Online
• Supermarkets
• Hypermarkets
• Others
Global Body Oil Market, by Region
• North America
• Europe
• Asia-Pacific
• MEA & Africa
• Latin America
Global Fragrance Market Key Players
• L’Oréal S.A
• Kering S.A.
• CHANEL International B.V.
• Unilever
• LVMH Group
• The Procter & Gamble Company
• Givaudan
• Revlon, Inc.
• Firmenich International SA
• Estee Lauder Companies Inc.
• Giorgio Armani S.p.A.
• Coty Inc.
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