According to IMARC Group’s latest report, titled “Perfume Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global perfume market size reached US$ 35.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 50.4 Billion by 2028, exhibiting a growth rate (CAGR) of 6.05% during 2023-2028.
Perfume Definition and Overview
Perfumes represent the combination of essential oils and aroma compounds that provide a pleasant fragrance to the user. In addition to this, they are generally obtained from natural sources that comprise flowers, leaves, bark, fruits, balsams, roots, resins, and seeds of several aromatic plants, including sandalwood, rose, cinnamon, etc. Perfumes can also be prepared by using animal secretions, such as musk, ambergris, castoreum, civet, honeycomb, etc. They are used by both men and women to signify their style, personality, and individuality. Perfumes can also be utilized as a stimulant to influence the mood, emotions, and thoughts of individuals while inducing relaxation. As such, they are commonly available via e-commerce channels.
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Perfume Market Trends:
The emerging trend of personal grooming among individuals, owing to the growing urbanization levels and the improving standards of living, is among the key factors stimulating the perfume market. Moreover, the escalating demand for exotic and youth-oriented fragrances and the rising number of organized online and offline retail stores across countries are acting as significant growth-inducing factors. Besides this, the increasing consumer inclination towards luxury perfumes is positively influencing the global market. Furthermore, the inflating popularity of personalized perfumes is propelling the market growth. Apart from this, they also allow individuals to combine various aromas, spices, and essential oils from numerous assortments of fragrances, which is bolstering the global market. Additionally, extensive investments by key market players in the development of innovative packaging solutions to offer convenience to users are anticipated to fuel the perfume market over the forecasted period.
Competitive Landscape with Key Players:
The competitive landscape of the market has also been examined with some of the key players.
- Avon Products Inc.
- Natura Cosméticos SA
- Chanel SA
- Coty Inc.
- L’Oréal SA.
Key Market Segmentation:
The report has categorized the market based on perfume type, category, distribution channel and region.
Breakup by Perfume Type:
- Premium Perfume Products
- Mass Perfume Products
Breakup by Category:
- Female Fragrances
- Male Fragrances
- Unisex Fragrances
Breakup by Distribution Channel:
- Speciality stores
- Departmental stores
- Online stores
- Hypermarkets & supermarkets
- United States
Key Highlights of The Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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