The global perfume market reached a value of US$ 33.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 47.6 Billion by 2027, exhibiting a CAGR of 6.1% during 2022-2027. 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.
Key Market Segmentation:
- 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 country level from 2022-2027. Our report has categorized the market based on perfume type, category and distribution channel.
- Breakup by Perfume Type: Premium Perfume Products
- Mass Perfume Products
- 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:
- Female Fragrances
- Male Fragrances
- Unisex Fragrances
- 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:
- Speciality Stores
- Departmental Stores
- Online Stores
- Hypermarkets & Supermarkets
- 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.
- United States
- 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.
- Competitive Landscape
- The competitive landscape of the market has also been examined with some of the key players being Avon Products Inc., Natura Cosmeticos SA, Chanel SA, Coty Inc., LVMH and L'Oreal 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. Key Questions Answered in This Report
- 1. What is the size of the global perfume market?
- 2. What is the expected growth rate of the global perfume market?
- 3. What are the key factors driving the global perfume market?
- 4. What has been the impact of COVID-19 on the global perfume market?
- 5. What is the breakup of the global perfume market based on the perfume type?
- 6. What is the breakup of the global perfume market based on the category?
- 7. What is the breakup of the global perfume market based on the distribution channel?
- 8. What are the key regions in the global perfume market?
- 9. Who are the key companies/players in the global perfume market?