Market Research Report
Perfumes Global Market Report 2022
|Perfumes Global Market Report 2022|
The Business Research Company
Content info: 175 Pages
Delivery time: 2-10 business days
Perfumes Global Market Report 2022 from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global perfumes market as it emerges from the COVID-19 shut down.
Where is the largest and fastest growing market for the perfumes? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Perfumes market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider perfumes market, and compares it with other markets.
Markets Covered: 1) By Product: Mass; Premium
2) By End User Sex: Women; Men
3) By Distribution Channel: Offline; Online
Countries: Brazil; China; France; Germany; India; Indonesia; Japan; South Korea; Russia; UK; USA; Australia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, per capita expenditure.
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Major players in the perfumes market are Coty Inc., Shiseido Company Limited, L'Oral SA, LVMH Mot Hennessy Louis Vuitton SE, Revlon Inc., Avon Products Inc., Abdul Samad Al Qurashi, Este Lauder Companies Inc., Oriflame Holding AG, and Chanel SA
The global perfumes market is expected to grow from $62.91 billion in 2021 to $71.19 billion in 2022 at a compound annual growth rate (CAGR) of 13.2%. The market is expected to grow to $114.98 billion in 2026 at a CAGR of 12.7%.
The perfumes manufacturing market consists of the sales of perfumes. Perfume is a mixture of fragrant essential oils or aroma compounds, fixatives, and solvents that give a pleasant scent to the human body, animals, food, objects, and living spaces.
The main products of perfumes are mass and premium perfumes. Premium perfumes are unique perfumes that have got long-lasting fragrances. Perfumes are used by men and women and are distributed through offline and online channels.
Asia Pacific was the largest region in the perfumes market in 2021. Western Europe was the second-largest region in the perfumes market. The regions covered in the perfumes manufacturing report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Rapid growth in the millennial population is expected to drive the perfumes market. As of 2020, there were 1.8 billion millennials globally. Young people tend to spend more than old on cosmetics, to improve looks and quality of life. Millennials are the largest potential purchasing community of cosmetics in 2019, accounting for around 32% of the world's population, compared to 17 percent for those over 55 years of age. By 2025, millennials are expected to constitute nearly three-quarters of the global workforce. As millennials will represent a large part of the global workforce and play a major role in driving the current economy, their preferences and shopping habits will be an important driving factor for the perfumes market.
Counterfeits are made to look like known brands; consumers find it difficult to distinguish genuine products from counterfeit products, thereby damaging the brand's reputation and devaluing the investment made by the brand, resulting in loss of revenues. For instance, statistics published by the European Commission states that over 40 million counterfeit articles were confiscated. Therefore, rising instances of counterfeiting limit the growth of the perfumes market.
There is a growing preference by consumers for natural fragrances in the perfumes market. According to the survey conducted by Kari Gran, 75% of millennial women prefer buying natural product and 44% prefer natural ingredient perfumes. Perfume manufacturing companies are focusing on the development of natural fragrances for perfumes due to rising concerns of allergic reactions and toxins in synthetic ingredients. For instance, IME Natural Perfumes are made up of 100% natural ingredients and are also certified as toxin-free perfumes.
The countries covered in the perfumes market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia.