Global Fragrances And Perfumes Market Size By Product (Parfum Or Extrait, Eau de Parfum (EDP), Eau de Toilette (EDT)), By Consumer Group (Men, Women, Unisex), By Category (Natural, Synthetic), By Distribution Channel (Offline Retail Stores, Online Retail Stores), By Geographic Scope And Forecast

Fragrances And Perfumes Market Size And Forecast

Fragrances And Perfumes Market size was valued at USD 58.52 Billion in 2022 and is projected to reach USD 95.53 Billion by 2030, growing at a CAGR of 4.88% from 2023 to 2030.

The market growth is attributed to the increasing trend of personal grooming, coupled with the growing demand for exotic fragrances. Furthermore, growing consumer spending on premium and luxury fragrances due to the high-income level, along with advancing living patterns, is driving the global Fragrances And Perfumes Market. The Global Fragrances And Perfumes Market report provides a holistic market evaluation. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Fragrances And Perfumes Market Definition

A perfume is a liquid that emits a pleasing odor, they’re extracted from derived from aromatic compounds or plants. Fragrances and perfumes have seamlessly improved the grooming habits of people and become important products of day-to-day life. It consists of three structural partsthe top, middle, and base notes. It’s a mixture of a compound that produces a definite smell or odor. These are categorized by supported hydrocarbon concentrationparfum (20–30%), Eau de parum (15–20%), eau de toilette (5–15%), eau de cologne (2–4%), and Eau Fraiche (1–3%) and are available during a range of formats and concentration, manufactured by natural action, collection, extraction, blending, and aging of the merchandise. These products express personal elegance, individuality, and self-confidence. Consumers are preferring fragrance and perfume products to luxury items like bags or shoes as they’re cheaper.

Global Fragrances And Perfumes Market Overview

Custom-made, natural, and eco-friendly perfumes are some of the prime factors driving the Global Fragrances And Perfumes Market. An uptick in population especially the young population, evolving lifestyle, and increasing awareness of beauty care products are boosting the global Fragrances And Perfumes Market. With the increase in population, there is increasing consumer expenditure on personal and beauty care products. Hence, the global Fragrances And Perfumes Market is expanding rapidly. Fragrance and perfume providers are enhancing and offering better products at cheap prices. This is projected to increase the penetration rate of perfumes over the forecast period. The popularity of various premium brands is increasing rapidly among consumers. The global Fragrances And Perfumes Market is expanding due to rising consumer spending on luxury items as disposable income rises.

There are certain restrictions and barriers faced that will hinder the overall market growth. The factors such as the availability of counterfeit products and the use of chemical ingredients with probable side effects are the potential restraints hampering the overall growth of the global Fragrances And Perfumes Market. Nevertheless, the usage of scented products for the home, innovative product push strategy by key global players, an increasing number of working women, and awareness regarding cosmetic products offer favorable growth opportunities.

Global Fragrances And Perfumes Market Segments Analysis

The Global Fragrances And Perfumes Market is segmented on the basis of Product, Consumer Group, Category, Distribution Channel, and Geography.

Fragrances And Perfumes Market, By Product

• Parfum or extrait
• Eau de Parfum (EDP)
• Eau de Toilette (EDT)
• Eau de Cologne (EDC)
• Eau fraiche

Based on Product, the market is bifurcated into Parfum or extrait, Eau de Parfum (EDP), Eau de Toilette (EDT), Eau de Cologne (EDC), and Eau fraiche. The Eau de Parfum segment is estimated to witness the highest CAGR during the forecast period. The factors that can be attributed to a bit more intense, luxurious, and fuller and it remains all day, evening or even night are accelerating the demand for this segment.

Fragrances And Perfumes Market, By Consumer Group

• Men
• Women
• Unisex

Based on Consumer Group, the market is bifurcated into Men, Women, and Unisex. The women segment holds the largest market share during the forecast period. It is observed that women in the U.S. purchase a new perfume as often as once a month, in comparison to men who buy it on an average of 1-2 times per year, mainly for replenishment.

Fragrances And Perfumes Market, By Category

• Natural
• Synthetic

Based on Category, the market is bifurcated into Natural and Synthetic. The synthetic segment holds the largest market share during the forecast period. A synthetic perfume will smell as it scents from start to finish, it can fill a cabin and follow around all day. For many people, this is the desired effect.

Fragrances And Perfumes Market, By Distribution Channel

• Offline Retail Stores
• Online Retail Stores

Based on Distribution Channel, the market is bifurcated into Offline Retail Stores and Online Retail Stores. The offline retail channel segment holds the largest market share during the forecast period. Consumers prefer this channel to purchase their products due to the availability of a wide range of options as well as the facility of scanning the product details before any purchase. The offline segment is boosted by sales from specialty shops that offer premium products.

Fragrances And Perfumes Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the World

On the basis of Regional Analysis, the Global Fragrances And Perfumes Market is classified into North America, Europe, Asia Pacific, and Rest of the world. Europe holds the largest market share. The strong sales of premium products through brands such as Jil Sander and Calvin Klein, along with new product launches, and ongoing projects will boost the market in the European region.

Key Players

The “Global Fragrances And Perfumes Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as Coty Inc., Bvlgari, Gucci, Procter & Gamble, Prestige Beauty, L’Oreal International, Firmenich, LVMH, Elizabeth Arden Inc., Perfumania Holdings Inc. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis.

Key Developments

• In October 2020 Marc Jacobs International and Marc Jacobs Fragrances, a division of Coty Inc., announced the release of Perfect Marc Jacobs, the brand’s latest women’s fragrance.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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