The global Perfume Market size is estimated to reach USD 80.16 billion in 2030 and is anticipated to expand at a CAGR of 5.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. One of the major factors significantly driving the industry is the rising spending by consumers on exotic and luxury perfumes across the world. Moreover, the rising trend of personal grooming is contributing to the growth of the industry. The growth is also fueled by the increasing trend and demand for perfumes manufactured using natural ingredients. In addition, the increase in the launch of innovative products, as per the customer requirements, by various players operating in the industry will support market growth. However, the harmful effects of perfumes manufactured using synthetic chemicals are expected to restrain the industry's growth.
The premium product segment dominated the industry
in 2022 and is estimated to remain dominant throughout the forecast period. The
larger share of the segment is attributed to various features of premium
perfumes, such as the exclusivity of the product, personalization, and high
product quality. Furthermore, the growing adoption of luxury and premium
fragrances in developing countries is boosting segment growth. Europe accounted
for the largest share of the overall revenue in 2022 and is anticipated to
expand further at a significant CAGR over the forecast period. The presence of
a large number of leading manufacturers in the region is a key factor
contributing to its growth. Moreover, the region is responsible for the high
export and production of perfumes, which is boosting market growth.
List of Key Players of Perfume Market
- The Avon Company
- CHANEL
- Coty Inc.
- LVMH Moet Hennessy - Louis Vuitton
- The Estée Lauder Companies
- Revlon
- Puig
- L'Oréal Groupe
- Shiseido Company, Ltd.
- Givaudan
- Hermès
- KERING
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Perfume Market Report Highlights
- Asia Pacific is expected to grow at the fastest CAGR over the
forecast period. The growing sales of luxury & premium perfume along
with the rising disposable income is expected to boost the region’s growth
- The men end-user segment is estimated to grow at a significant CAGR
over the forecast period
- This is due to the rising endorsements by male celebrities, which is
influencing customers purchasing decisions
- The online distribution channel segment is estimated to register the
fastest CAGR over the forecast period due to the growing e-commerce
industry in emerging economies
- Major manufacturers are adopting various strategies, such as global
expansion, partnerships, acquisitions & mergers, and development &
launch of new products, to gain higher shares in the global market
Related Press Release@ Perfume
Industry Analysis
Perfume Market Segmentation
Grand View Research has segmented the global perfume
market on the basis of product, end-user, distribution channel, and region:
Perfume Product Outlook (Revenue, USD Million, 2017
- 2030)
- Mass
- Premium
Perfume End-user Outlook (Revenue, USD Million, 2017 -
2030)
- Men
- Women
- Unisex
Perfume Distribution Channel Outlook (Revenue, USD
Million, 2017 - 2030)
- Offline
- Online
Perfume Regional Outlook (Revenue, USD Million, 2017 -
2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- South Korea
- Singapore
- Central & South America
- Brazil
- Middle East & Africa
- UAE
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
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Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
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