Perfumes Global Market Report 2023

“Perfumes Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on perfumes market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for 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.

Scope

Markets Covered:

1) By Product: Mass; Premium

2) By End User Sex: Women; Men

3) By Distribution Channel: Offline; Online

Companies Mentioned: Coty Inc.; Shiseido Company Limited; L'Oral SA; LVMH Mot Hennessy Louis Vuitton SE; Revlon Inc.

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

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.

Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Major players in the perfumes market are: Coty Inc., Shiseido Company Limited, L'Oreal 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 will grow from $73.25 billion in 2022 to $83.3 billion in 2023 at a compound annual growth rate (CAGR) of 13.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The perfumes market is expected to grow from $138.93 billion in 2027 at a CAGR of 13.6%.

The perfume market consists of the sales of perfumes in different scents such as warm, woody, oriental and fresh. Values in this market are: 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

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. Perfumes are used to enhance the mood, attractiveness, and boost health.

Asia Pacific was the largest region in the perfumes market in 2022. Western Europe was the second-largest region in the perfumes market. The regions covered in the perfumes manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The main products of perfumery are mass-produced and premium perfumes. Premium perfumes are unique perfumes that have long-lasting fragrances. Perfumes are used by both men and women and are distributed through offline and online channels.

Rapid growth in the millennial population is expected to drive the perfume market. As of 2020, there were 1.8 billion millennials globally. Young people tend to spend more than older people on cosmetics to improve their looks and quality of life. Millennials are the largest potential purchasing community for 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 perfume market.

Counterfeits are made to look like well-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 a loss of revenues. For instance, statistics published by the European Commission state that over 40 million counterfeit articles were confiscated. Therefore, rising instances of counterfeiting limit the growth of the perfume market.

There is a growing preference by consumers for natural fragrances in the perfume market. According to the survey conducted by Kari Gran, 75% of millennial women prefer buying natural products, 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.

The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).

The revenues for a specified geography are consumption values - that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.

The perfume market research report is one of a series of new reports from The Business Research Company that provides perfume market statistics, including global market size, regional shares, competitors with a perfume market share, detailed perfume market segments, market trends and opportunities, and any further data you may need to thrive in the perfume industry. This perfume market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.