Argentina Perfume Market Overview, 2027

Argentina Perfume Market Overview, 2027

The fragrance and perfume market in Argentina is the second largest by value in the whole South American region, just behind Brazil. Both the quantity and the current value of fragrance sales in Argentina are on an increasing trend, and this growth is sustained by several factors, chief among which are the many improvements made in the distribution of fragrances as well as the fact that premium products have become more affordable. In distinct contrast to other countries within the region, premium-branded fragrances are popular in Argentina. The procedure to form a perfume includes the collection of ingredients, extraction of oils, blending, aging, and internal control. Various perfumes are manufactured by extracting scented oils from natural ingredients. Furthermore, processes like steam distillation, expression, effleurage, and maceration happen to obtain the final product.

According to the report, Argentina Perfume Market Overview, 2027, published by Bonafide Research, the market is expected to add USD 0.17 Billion by 2027. The market's growth is attributed to the growing trend of personal grooming, coupled with increasing demand for luxury and exotic fragrances. As the overall economic situation in Argentina worsens, the challenges for the fragrance market within the country are expected to grow, and therefore the once significant growth prospects of the market are anticipated to suffer a blow. The women's segment leads the markets, as women's populations are largely inclined towards sustainable fragrances for their personal grooming purposes. Increasing personal hygiene and grooming awareness among men is fueling segmental growth. Men's fragrances are stronger and more aromatic in nature, which, in turn, may increase the product's adoption. In addition, the rising demand for fragrant flavours is likely to boost product demand.

The offline segment is especially driven by sales from specialty stores that provide premium products. The layouts of supermarkets and promotional campaigns by leading brands have also increased the sales volume within the supermarket and hypermarket segments. The expansion of the organised retail sector has been driving the market by providing ample space and visibility for the existing brands to offer their products. The online platform is predicted to witness the fastest growth during the next few years. The evolution of online retail channels like Flaconi, Amazon, and Parfumdreams has turned out to be a new and convenient way of distributing perfumes, despite consumers not having the ability to test the fragrance before purchase. Various modes of advertisements and promotions within the market are very prominent, thereby driving consumers to prefer online channels.

In a similar manner to several other markets worldwide, in Argentina, fragrances aren't only bought for personal use and consumption but are also popular gifts. Advertisers take this into consideration and plan their fragrance campaigns mostly around the Christmas period and other gift-buying holidays such as Valentine’s Day, Mother’s Day, and Father’s Day.

In distinct contrast to other countries within the region, premium-branded fragrances are popular in Argentina. Indeed, premium brands constitute 40% of fragrances in terms of useful share. This figure isn't only the highest in South America, but it’s also significantly higher than in any other beauty or personal care industry. Argentina by Memo Paris is an amber floral fragrance for ladies and men. he highest players are in Argentina’s fragrance market: Avon SACI; LVMH Mot Hennessy Louis Vuitton; Cannon Puntana AS; L'Oréal Groupe; and Natura Cosméticos.

Covid-19 Impact on Perfume Market
The lockdown restrictions across the country led to a serious disruption in the supply chain, which negatively affected the perfume market. Moreover, the slowdown as a result of the suspension of various manufacturing activities and the ban on international travel in order to contain the spread of the pandemic has impeded the market's growth. Lockdowns and isolation during pandemics restricted the varied industrial operations, which created several complications for the market’s production and provide. The loss of revenue thanks to the suspended operations and the postponed activities across the industries led to reduced deliveries of perfume, further hampering the market’s growth. However, the COVID-19 crisis is probably going to accelerate market trends such as the rise of the middle-class population and the use of e-commerce, which may favour market growth. Moreover, players are adopting various safety measures to propel market growth on an outsized scale, together with the new planning and strategies introduced by the fragrance market players.

Considered in this report
• Geography: Argentina
• Historic year: 2016
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027

Aspects covered in this report
• Argentina Perfume market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product Type
• Eau De Parfum
• Eau De Toilette
• Eau De Cologne
• Eau Fraiche
• Parfum
• Others

By End User
• Men
• Women
• Others

By Ingredient Type
• Natural
• Synthetic

By Product
• Premium
• Mass

By Distribution Channel
• Online
• Offline

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Perfume industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.