Quick Summary:
As a crucial avenue of personal expression and individual style, the perfume industry carries significant business potential. Scent has the power to not only influence mood, perceptions and thoughts, but also to signify a person's personality, making the global perfume market a lucrative venture for insightful investors.
The market's growth is powered by rising trends in personal grooming, demand for youth-oriented and exotic fragrances, and the steady product diversification by manufacturers. The increasing global population, rapid urbanisation, and aggressive advertising by manufacturers equally contribute to the propulsion of the global perfume market. Moreover, consumers' inclination towards increased spending on luxury fragrances, as a result of inflating income levels and improved standards of living, aids in boosting sales. However, the market faces challenges in the form of counterfeit products, emphasizing the need for awareness and quality assurance in the industry.
With penetrating analysis of each sub-segment, this report, on top of its comprehensive exploration of the industry, will additionally equip stakeholders with crucial information for setting up a perfume manufacturing plant - rendering it indispensable for investors, entrepreneurs, consultants, business strategists, or those aspiring to venture into the perfume industry.
The global perfume market size reached US$ 35.5 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 50.4 Billion by 2028, exhibiting a growth rate (CAGR) of 6.05% during 2023-2028.
Perfumes are composed of fragrances or essential oils which are used to provide a pleasant smell. Some of the common natural ingredients utilised in the production of perfumes include spices, woods, flowers, grasses, fruits, resins, leaves, roots, balsams, gums and animal secretions. Perfumes signify a person's style, individuality and personality and a good scent can influence mood, behaviour, perception, emotions and human thoughts. Nowadays, the manufacturing of perfumes has evolved into a mainstream business in the personal care and cosmetics industry.
The global perfume market is gaining traction owing to the rising trend of personal grooming along with the increasing demand for youth-oriented as well as exotic fragrances. Moreover, the product diversification by manufacturers is attracting a larger consumer-base. Apart from this, increasing consumer spending on luxury fragrances on account of inflating income levels and improving standards of living are further boosting the sales of perfumes. Other major factors propelling the demand for perfumes worldwide are rapid urbanisation, increasing population and aggressive advertising by the manufacturers. However, the availability of counterfeit products represents one of the major challenges faced by the market.
Competitive Landscape
The competitive landscape of the market has also been examined with some of the key players being Avon Products Inc., Natura Cosméticos SA, Chanel SA, Coty Inc., LVMH and L'Oréal SA.
This report provides a deep insight into the global perfume industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a perfume manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the perfume industry in any manner.
Perfumes are composed of fragrances or essential oils which are used to provide a pleasant smell. Some of the common natural ingredients utilised in the production of perfumes include spices, woods, flowers, grasses, fruits, resins, leaves, roots, balsams, gums and animal secretions. Perfumes signify a person's style, individuality and personality and a good scent can influence mood, behaviour, perception, emotions and human thoughts. Nowadays, the manufacturing of perfumes has evolved into a mainstream business in the personal care and cosmetics industry.
The global perfume market is gaining traction owing to the rising trend of personal grooming along with the increasing demand for youth-oriented as well as exotic fragrances. Moreover, the product diversification by manufacturers is attracting a larger consumer-base. Apart from this, increasing consumer spending on luxury fragrances on account of inflating income levels and improving standards of living are further boosting the sales of perfumes. Other major factors propelling the demand for perfumes worldwide are rapid urbanisation, increasing population and aggressive advertising by the manufacturers. However, the availability of counterfeit products represents one of the major challenges faced by the market.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global perfume market report, along with forecasts at the global and country level from 2023-2028. Our report has categorized the market based on perfume type, category and distribution channel.Breakup by Perfume Type:
- Premium Perfume Products
- Mass Perfume Products
Breakup by Category:
- Female Fragrances
- Male Fragrances
- Unisex Fragrances
Breakup by Distribution Channel:
- Specialty Stores
- Departmental Stores
- Online Stores
- Hypermarkets & Supermarkets
- Others
Regional Insights:
- Brazil
- United States
- Germany
- France
- Russia
Competitive Landscape
The competitive landscape of the market has also been examined with some of the key players being Avon Products Inc., Natura Cosméticos SA, Chanel SA, Coty Inc., LVMH and L'Oréal SA.
This report provides a deep insight into the global perfume industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a perfume manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the perfume industry in any manner.
Key Questions Answered in This Report:
- What is the size of the global perfume market 2022?
- What is the expected growth rate of the global perfume market 2023-2028?
- What are the key factors driving the global perfume market?
- What has been the impact of COVID-19 on the global perfume market?
- What is the breakup of the global perfume market based on the perfume type?
- What is the breakup of the global perfume market based on the category?
- What is the breakup of the global perfume market based on the distribution channel?
- What are the key regions in the global perfume market?
- Who are the key companies/players in the global perfume market?
Frequently Asked Questions about the Global Perfume Market
What is the estimated value of the Global Perfume Market?
What is the growth rate of the Global Perfume Market?
What is the forecasted size of the Global Perfume Market?
Who are the key companies in the Global Perfume Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 149 |
| Published | June 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 35.5 Billion |
| Forecasted Market Value ( USD | $ 50.4 Billion |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 6 |
Table of Contents
1 Preface3 Executive Summary12 Perfume Manufacturing Plant: Loans and Financial Assistance
2 Scope and Methodology
4 Introduction
5 Global Perfume Industry
6 Performance of Key Regions
7 Market by Perfume Type
8 Market by Category
9 Competitive Landscape
10 Perfume Manufacturing Process
11 Project Details, Requirements and Costs Involved
13 Perfume Manufacturing Plant: Project Economics
14 Key Player Profiles
List of Figures
List of Tables
Companies Mentioned
- Avon Products Inc.
- Natura Cosméticos SA
- Chanel SA
- Coty Inc.
- LVMH
- L'Oréal SA
Methodology
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