Asia-Pacific Perfume Market Outlook, 2027

Asia-Pacific Perfume Market Outlook, 2027

Perfumes are expected to show faster growth across the Asia-Pacific region. This growth can be attributed to the rising popularity of exclusive and luxury brands. The population's available financial resources and preference for luxury brands are driving market growth. Product advancement occurred when products containing pheromones (hormones) in the perfume were introduced to the market. Both male and female consumers are inclined toward the product. With perfume’s accessible price point and its ability to boost a mood in a world that feels chaotic, fragrance brands are reaping the rewards and not just traditional luxury houses and their respective perfume lines.

According to the report, Asia-Pacific Perfume Market Outlook, 2027, published by Bonafide Research, the market is anticipated to reach more than USD 8 Billion in market size during the historic time period. In the Asia-Pacific region, the lower-middle-class population is emerging as a significant consumer group willing to spend on products that were previously considered unaffordable for them. The perfume products have a mature market in various countries across the region. Numerous perfume and deodorant brands in emerging nations have strategically begun to increase the visibility of their channels in rural and semi-urban areas, where the demand for such products is unexplored. There are various key players in the perfumes and deodorants market that have a significant market share and a huge consumer base in this region. These manufacturers are providing a wide range of enhanced products like herbal perfumes, pocket perfumes, and others that are further propelling the demand for the products across the Asia-Pacific region.

Furthermore, several manufacturers are focusing on developing strategies for implementing innovative branding and marketing of their products, which will help to drive the growth of the perfume market in this region. Rising disposable income in countries such as India is boosting regional growth. In addition, people are becoming more aware of hygiene and personal care, which is expected to open new growth prospects for the key manufacturers. Perfumes are differentiated by their areas of use: eau de cologne is primarily used by male consumers, whereas eau de parfum is a female perfume, and eau de toilette is the perfume category that is primarily used for room and toilet fresheners. The move away from traditional luxury brands is weaponizing a new breed of fragrance brands in Asia: made in Asia scents that evoke the traditions and flavours of Asia for Asian consumers that seek quality yet yearn for nostalgia. Some of the major brands across the Asia-Pacific region include Maison 21G, Maison Dixsept, Documents, Nonfiction, Maison de l'Asie, Reclassified, Wegoo, Coloria, Oola Lab, and To Summer.

The market growth can be attributed to the increase in demand for fragrant products to maintain the freshness and hygiene of the human body among the working population of the region. Premium and exquisite products are flooding the regional market, thereby driving the growth of the market in the upcoming five years. Top players in the market are focusing on the end user’s demand and creating perfumes and deodorants based on their preferences. To target male consumers, the market players are providing products that are more woody, citrusy, and amber-oriented, whereas female consumers are more inclined and thus provided with floral, sweet, and oriental notes. This availability of a wide range of products is a major factor that is driving the growth of the Asia Pacific perfume market in the next five years.
For instance, the Grasse-based perfume company Expressions Parfumées has developed a unique technology for creating alcohol-free perfumes that are 100% compliant with the COSMOS standard without any palette constraint but with beautiful olfactory results. This innovation consists of optimizing perfume solubilization in water while preserving transparency and intensity. A real technical challenge for compositions based on raw materials of natural origin The Aqua Natco technology is being introduced as a first technique in a market driven by consumer demand for alcohol-free natural perfumes with a low environmental impact. Expressions Parfumées aimed to meet this demand and their customers’ by developing a new technology adapted to 100% COSMOS compositions.

Revolutionizing the perfumery retail experience by integrating AR technology and digital elements with personalized perfume-making based on personality tests, Scentopia is the first to disrupt the perfumery industry with technological innovation since the 1800s. Scentopia takes on a more experiential and unique approaches to perfumery, which will be a real, treat for families, couples, and tourists looking for an intimate sensory experience. Specializing in local Singaporean floral heritage and cultural scents, visitors can expect an array of activities, from AR perfumery tours around over 300 free-to-uses AR scented exhibits to DIY perfume-making sessions at the perfume bar with a diverse selection of over 6000 scented wands to choose from.

Covid-19 Impacts:
The COVID-19 pandemic had a vital impact on the growth of the Asia-Pacific perfume market and altered several market scenarios. The lockdown across various countries and the ban on international travel have disrupted the supply chain and revenue chain. Further, a temporary lockdown across the region resulted in a major halt in the production process. However, the work-from-home scenario has created greater awareness about various perfumes and the benefits provided by them. Based on these factors, the market is anticipated to witness prominent market growth by 2027.

Major Companies present in the report
Moët Hennessy Louis Vuitton (LVMH), Natura & Co., L’Oreal, Estee Lauder, CHANEL, IFF, Gucci, Hermes International, Shiseido Co. Ltd., Givaudan, Coty Inc, Firmenich S.A., Capri Holdings Ltd., Symrise, Burberry Group plc, PUIG, Revlon Inc., L'Occitane International SA, Wipro Consumer Care & Lighting

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

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

Countries covered in the report
• China
• India
• Australia
• Japan
• South Korea

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.