Report Overview: The global perfume market reached a value of US$ 32.8 Billion in 2020. Looking forward, the market is expected to exhibit moderate growth during 2021-2026.
A perfume is a combination of essential oils and aroma compounds which gives a pleasant smell to an individual’s body. Plants like sandalwood, rosemary, jasmine, cinnamon and rose are the primary sources of essential oils which provide a distinctive aroma to a perfume. Apart from this, various natural ingredients like flowers, grasses, spices, fruits, woods, roots, resins, balsams, leaves, gums and animal secretions are also used in perfume production. In addition to this, several synthetic compounds, alcohol and water are employed as additives.
A rise in the trend of personal grooming amongst the young generation has been witnessed which is increasing the demand for exotic and youth-oriented fragrances. Additionally, inflating disposable incomes and increasing urbanization have led to rapid changes in the lifestyles of the urban population. These factors are propelling the sales of luxury goods including perfumes.
Moreover, several manufacturers are offering high-quality products at affordable prices to target the mass market which is catalyzing the growth of the perfume industry across the globe. They are also improving the product packaging by introducing fragrances in rollerballs and mini bottle sprays. Further, the capital investment required for setting up a perfume manufacturing plant is relatively low which is attracting new entrants.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Perfume Market 2021-2026 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of the major players operating in the industry include:
Avon Products Inc. (NYSE: AVP)
Natura Cosméticos SA (BVMF: NATU3)
Coty Inc (NYSE: COTY)
Estée Lauder (NYSE: EL)
LVMH (OTCMKTS: LVMUY)
Botica Comercial Farmacêutica Ltda
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The report has segmented the market on the basis of Perfume Type, Category, and region.
Market by Perfume Type
Premium Perfume Products
Mass Perfume Products
Currently, premium perfume products dominate the market, holding the largest share.
Market by Category
Performance of Key Regions
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