Global Perfume Market Size study & Forecast, by Product (Mass, Premium), by End-user (Men, Women, unisex), by Distribution Channel (Online, Offline) and Regional Analysis, 2022-2029

Global Perfume Market Size study & Forecast, by Product (Mass, Premium), by End-user (Men, Women, unisex), by Distribution Channel (Online, Offline) and Regional Analysis, 2022-2029

Global Perfume Market is valued at approximately USD 48.02 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 5.90% over the forecast period 2022-2029. The market is expected to increase as a result of the expanding personal grooming trend and rising consumer interest in high-end and exotic scents. The global market is also being driven by rising consumer expenditure on premium and luxury fragrances as a result of high-income levels and rising living standards. In the cosmetics and personal care sector, perfumes have grown to become a sizable market in recent years. The expanding trend in personal care has led to the emergence of perfumes as an essential good that contributes to pride and confidence.

For instance, the revenue from perfumes fell by almost 20% at LVMH Group in 2020 compared to 2019, making it one of the leading producers of scent items. The government's prohibitions on the opening of beauty parlours, perfume shops, and department stores as well as directives to stay at home as a precaution during the outbreak were the main causes of the decline in revenue. However, the resumption of manufacturing, commerce, and sales is helping the global market recovers, and it is expected that this will lead to significant growth. Additionally, manufacturers' diversification of their product lines is anticipated to increase their consumer base. For instance, CHANEL's fragrance portfolio includes a wide variety of perfume goods, such as parfum, Eau de parfum spray, and others. However, the high cost of Perfumes stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Perfume Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe dominated the space in terms of revenue, owing to the dominance of branded products and the rising region's sales of premium products. Leading scent companies such as Guerlain, Chanel, and Christian Dior have their headquarters in France. With the biggest production and export values, the nation has been driving the Europe market. Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as growing consumer demand for high-end perfumes is encouraging producers to establish themselves in this market, which is fueling its expansion. Additionally, the demand for travel-size, small, and pocket-sized perfumes is rising due to their portability and convenience, which is anticipated to drive market expansion.

Major market players included in this report are:
The Avon Company
CHANEL
Coty Inc.
LVMH Moet Hennessy-Louis Vuitton
The Estée Lauder Companies
Revlon
Puig
L’Oréal Groupe
Shiseido Company, Ltd.
Givaudan

Recent Developments in the Market:
 Givaudan announced its partnership with LanzaTech to create sustainable fragrance compounds from renewable carbon in September 2022.
 Coty Inc. announced its relationship with Perfect Corp. in September 2021 in order to include a number of AI and AR techniques into the digital marketing toolkits of its cosmetics brands.
 The debut of the new women’s fragrance ""Perfect Marc Jacobs"" from Coty Inc.'s Marc Jacobs International and Marc Jacobs Fragrances was announced for October 2020.

Global Perfume Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Product, End-user, Distribution Channel, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Product:
Mass
Premium

By End-user:
Men
Women
Unisex

By Distribution Channel:
Online
Offline

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World

Companies Mentioned

The Avon Company
CHANEL
Coty Inc.
LVMH Moet Hennessy-Louis Vuitton
The Estée Lauder Companies
Revlon
Puig
L’Oréal Groupe
Shiseido Company, Ltd.
Givaudan

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