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The global perfume market reached a value of US$ 32.8 Billion in 2020. Looking forward, the market is expected to grow at a CAGR of 6.15% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Perfumes are composed of fragrances or essential oils which are used to provide a pleasant smell. Some of the common natural ingredients utilised in the production of perfumes include spices, woods, flowers, grasses, fruits, resins, leaves, roots, balsams, gums and animal secretions. Perfumes signify a person’s style, individuality and personality and a good scent can influence mood, behaviour, perception, emotions and human thoughts. Nowadays, the manufacturing of perfumes has evolved into a mainstream business in the personal care and cosmetics industry.
The global perfume market is gaining traction owing to the rising trend of personal grooming along with the increasing demand for youth-oriented as well as exotic fragrances. Moreover, the product diversification by manufacturers is attracting a larger consumer-base. Apart from this, increasing consumer spending on luxury fragrances on account of inflating income levels and improving standards of living are further boosting the sales of perfumes. Other major factors propelling the demand for perfumes worldwide are rapid urbanisation, increasing population and aggressive advertising by the manufacturers. However, the availability of counterfeit products represents one of the major challenges faced by the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the global perfume market, along with forecasts at the global and regional level from 2021-2026. Our report has categorized the market based on category, perfume type and distribution channel.
Breakup by Perfume Type:
Based on perfume type, the market has been segmented as premium and mass perfume products. Currently, premium perfume products dominate the market, holding the largest share.
Breakup by Category:
On the basis of category, female fragrances lead the market, accounting for the majority of the market share. They are followed by male and unisex fragrances.
Breakup by Distribution Channel:
On the basis of distribution channel, the market has been segmented into speciality stores, departmental stores, online stores, hypermarkets & supermarkets and others. Currently, speciality stores dominate the market, holding the largest share.
Region-wise, the market has been segmented into Brazil, the United States, France, Germany and Russia. Amongst these, Brazil represents the largest market, accounting for majority of the global market.
The competitive landscape of the market has also been examined with some of the key players being Avon Products Inc., Natura Cosméticos SA, Chanel SA, Coty Inc., LVMH and L'Oréal SA.
This report provides a deep insight into the global perfume industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a perfume manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the perfume industry in any manner.
|Base Year of the Analysis||2020|
|Segment Coverage||Perfume Type, Category, Distribution Channel, Region|
|Region Covered||Brazil, United States, Germany, France, Russia|
|Companies Covered||Avon Products Inc., Natura Cosméticos SA, Chanel SA, Coty Inc., LVMH and L'Oréal SA.|
|Customization Scope||10% Free Customization|
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Corporate License $ 2999
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
The global perfume market was valued at US$ 32.8 Billion in 2020.
We expect the global perfume market to exhibit a CAGR of 6.15% during 2021-2026.
The growing consumer consciousness towards personal grooming along with the improving living standards represent some of the factors driving the global perfume market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous manufacturing units and disrupted supply chains of perfumes.
Based on the perfume type, the global perfume market can be bifurcated into premium perfume products and mass perfume products. Currently, premium perfume products hold the majority of the total market share.
Based on the category, the global perfume market has been divided into female fragrances, male fragrances, and unisex fragrances. Among these, female fragrances currently represent the largest market segment.
Based on the distribution channel, the global perfume market can be segmented into specialty stores, departmental stores, online stores, hypermarkets & supermarkets, and others. Currently, specialty stores hold the largest market share.
On a regional level, the market has been classified into Brazil, United States, France, Germany, and Russia, where Brazil currently dominates the global market.
Some of the major players in the global perfume market include Avon Products Inc., Natura Cosméticos SA, Chanel SA, Coty Inc., LVMH, and L’Oréal SA.
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