Global Fragrance Market Size By Product Type (Natural, Synthetic), By Application (Fine Fragrance, Detergent), By Distribution Channel (Brand Outlets, Drug Stores), By Geographic Scope And Forecast

Fragrance Market Size And Forecast

Fragrance Market size was valued at USD 58.62 Billion in 2022 and is projected to reach USD 97.39 Billion by 2030, growing at a CAGR of 5.8% from 2023 to 2030.

Demand for Fragrance has been witnessing extremely significant growth in urban areas with rising consumer preference for aromatherapy as a solution for changing lifestyles, and inclination towards bodily health in combination with hectic and time-constrained schedules among individuals. The Global Fragrance Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, trends, value chain analysis, competitive landscape, company profiles, and factors that are playing a substantial role in the market.

Global Fragrance Market Definition

Think of a fragrance as a carefully crafted symphony – a blend of natural and synthetic ingredients. It needs to be stable, have a good diffusive quality (meaning it spreads nicely), and stick around in your favorite cosmetic and other products. It's basically a mix of oils or scent compounds designed to make the human body, animals, food, objects, or even your living room smell fantastic! Back in the day, people used all sorts of goodies like spices, plants, and herbs – bergamot, coriander, myrtle, almond, or conifer resin and even flowers – to give their food that extra something special. This aromatic oil, often called fragrance oil, is what gives products that lovely scent.

In western countries, the fragrance is predominantly used on the hidden points of the body by individuals. The pulse parts of the body provide warmth to the perfume which allows a continuous release of fragrance. Depending upon the usage the fragrance industry manufactures various types of perfume. Perfume for the evening, bath oil, lightly scented products, shower gel, and body lotion are used in the morning, eau de toilette for the afternoon, and so on. Compared to other scented products, perfume can hold its scent for a longer period.

Global Fragrance Market Overview

With an increase in population, there is an increase in the working-class population as well. With greater disposable incomes in hand, people tend to spend more on improving their standard of living by way of spending more on personal hygiene, quality fragrance has become a by-default choice for this new emerging lifestyle. Also, an increase in female workforce participation showcases greater income equality and a greater number of dual-income households resulting in huge aggregate demand.

Rising awareness regarding personal care along with the availability of a wide product portfolio in retail shops are some of the prominent factors driving the demand for the Fragrance Market. Human personal care and appearance have become a sense of self-reliance, pride, and confidence. Fragrances have emerged as essential and luxurious products in today’s era from being a non-essential product. scents are expected to drive the Global Fragrance Market, increased demand for youth-oriented fragrances and celebrity coupled with economic development in growing markets.

The increased spending on an advertisement, attractive packaging, and promotional activity by consumer goods companies including P&G and Unilever have increased the market visibility of fragrance products. The use of fragrances including candles, sprays, gels, and incense sticks in the household industry is anticipated to act as a key market driver. Urbanization is another major factor that is increasing the demand for fragrances globally. One of the major challenges faced by the market is the availability of counterfeit products. Futuristically, the Global Fragrance Market is expected to have moderate growth during the next five to ten years.

Global Fragrance MarketSegmentation Analysis

The Global Fragrance Market is segmented on the basis of Product Type, Application, Distribution Channel, and Geography.

Fragrance Market, By Product Type

• Natural
• Synthetic

Based on Product Type, the market is classified into Natural and Synthetic.

Fragrance Market, By Application

• Fine Fragrance
  1. Parfum or de parfum
  2. Eau de Parfum
  3. Eau de Toilette
  4. Eau de Cologne
  5. Other
• Cosmetics & Toiletry
  1. Hair Care
  2. Essential Oils & Aromatherapy
  3. Soap
• Detergent
• Household & Air Care
• Tobacco
• Others

Based on Application, the market is classified into Fine Fragrance, Cosmetics & toiletries, Detergent, Household & Air Care, Tobacco, and Others.

Fragrance Market, By Distribution Channel

• Supermarkets and Hypermarkets
• Brand Outlets
• Drug Stores
• Direct Selling
• Unorganized Retail
• E-Commerce

Based on Distribution Channel, the market is classified into Supermarkets and Hypermarkets, Brand Outlets, Drug Stores, Direct Selling, Unorganized Retail, and E-Commerce.

Fragrance Market, By Geography

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

On the basis of Regional Analysis, the Global Fragrance Market is classified into North America, Europe, Asia Pacific, and Rest of the world.

Key Players

The “Global Fragrance Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are International Flavors & Fragrances, Inc., T. Hasegawa Co., Ltd., Symrise AG, Givaudan SA, Firmenich International SA, Takasago International Corporation, Mane SA, Robertet Group, Soda Aromatic Co., Ltd., Nagaoka Perfumery Co., Ltd. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

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

Report Scope

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Reasons to Purchase this Report

We'll dive deep into the market using both qualitative and quantitative methods, looking at different groups based on their finances and other characteristics. You'll get market value (in USD Billion!) for every single segment and sub-segment. We'll pinpoint which region and segment we think will grow the fastest and be the biggest overall. We'll also analyze each geographic area, showing how much of the product/service is used there and what's influencing the market in each place. The competitive scene will be covered, including market rankings of the big players, plus info on new product launches, partnerships, expansions, and acquisitions from the last five years. Extensive company profiles will give you the lowdown on each major player, with company overviews, insights, product comparisons, and SWOT analyses. We'll cover what's happening now and what we expect in the future for the industry, focusing on recent developments, including growth opportunities, what's driving the market, and the challenges in both new and established areas. We'll also give you a really in-depth view of the market from different angles, using Porter's five forces analysis. You'll get a good feel for how the market works through a Value Chain analysis, and a sense of the market's dynamics, plus the growth opportunities we see coming up. Oh, and you'll get 6 months of analyst support after the sale.

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