Fragrances Market Growth Analysis by Region, Country, Brands, Distribution Channel, Competitive Landscape, Packaging, Innovations and Forecast to 2027

Fragrances Market Growth Analysis by Region, Country, Brands, Distribution Channel, Competitive Landscape, Packaging, Innovations and Forecast to 2027

Summary

The report provides an overview of current fragrances scenario regarding the future outlook in terms of ingredients, product claims, labeling, distribution, and packaging. The analysis also covers regional overview across five regions - Asia-Pacific, Middle East and Africa, Americas, Western Europe, and Eastern Europe - highlighting industry size, growth drivers, latest developments, and future inhibitors for the regions.

The global fragrances sector was valued at $41.9 billion in 2022 and is forecast to record a CAGR of 5.1% during 2022–27, to reach $53.9 billion in 2027. Americas represented the largest region in the industry in 2022, with a value share of 37%, followed by Western Europe with 32.2%. In 2022, female fragrances was the largest category, accounting for 58% of overall global value sales, followed by male fragrances at 34.9%. Among all the categories, unisex fragrances is set to record the fastest value CAGR at 5.2%, during 2022–27. The fragrances sector in the Middle East and Africa is forecast to record the fastest value CAGR at 9.3% over the forecast period. The top five companies in the global fragrances sector together accounted for a value share of 33% in 2022. The sector was led by L’Oréal, which held a share of 9.7%, followed by Coty, and Natura & Co with 7.9% and 5.8% shares, respectively. The other leading companies, LVMH Moet Hennessy - Louis Vuitton, and Chanel, accounted for value shares of 5.1% and 4.5%, respectively, in 2022.

Key Highlights

Consumers today have become extremely selective when purchasing products in the sector, owing to health considerations. New products in the fragrances sector are being launched with a plethora of health claims such as natural origin, vegan, plant-based, no artificial colors, no genetic modification, and no preservatives. The clean labeling trend, which places emphasis on the transparency of fragrances products with reference to the ingredients used, is growing in the fragrances sector. This is becoming increasingly common in new product launches, with labels claiming the use of natural, wholesome, and simple ingredients that are easy to recognize, in order to appeal to consumers.

Scope

This report brings together multiple data sources to provide a comprehensive overview of the global fragrances sector. It includes an analysis on the following -

• Sector overview: Provides an overview of current sector scenarios in terms of ingredients, manufacturer claims, labeling, and packaging. The analysis also provides a regional overview across five regions-Asia-Pacific, Middle East & Africa, the Americas, Western Europe, and Eastern Europe-highlighting sector size, growth drivers, latest developments, and future challenges for each region. This data includes both on-trade and off-trade data.
• Change in consumption: Provides a shift in the consumption of fragrances over 2017–27 at global and regional levels.
• High-potential countries: Provides a risk–reward analysis of the top four high-potential countries in each region based on market assessment, economic development, governance indicators, socio-demographic factors, and technological infrastructure.
• Country and regional analysis: Provides a deep-dive analysis of 10 high-potential countries covering value growth during 2022–27, key challenges, consumer demographics, and key trends. It also includes regional analysis covering the future outlook for each region. Market size includes both on-trade and off-trade data, while only off-trade data is used in company and brand analysis, distribution analysis, and packaging analysis.
• Competitive landscape: Provides an overview of leading brands at a global and regional level, besides analyzing the product profile, country-level presence, market share, and growth of private labels in each region.
• Key distribution channels: Provides analysis on the leading distribution channels in the global fragrances sector in 2022. It covers health & beauty stores, direct sellers, parapharmacies/drugstores, “dollar stores”, variety stores & general merchandise retailers, cash & carries and warehouse clubs, convenience stores, department stores, e-retailers, hypermarkets & supermarkets, chemists/pharmacies, and others.
• Packaging analysis*: The report provides percentage shares (in 2022) and growth analysis (during 2022–27) for various pack materials, pack types, closures, and primary outer types based on volume sales of fragrance products.

Reasons to Buy

• Manufacturing and retailers seek latest information on how the market is evolving to formulate their sales and marketing strategies. There is also demand for authentic market data with a high level of detail. This report has been created to provide its readers with up-to-date information and analysis to uncover emerging opportunities of growth within the sector in the region
• The report provides a detailed analysis of the countries in the region, covering the key challenges, competitive landscape and demographic analysis, that can help companies gain insight into the country specific nuances
• The analysts have also placed a significant emphasis on the key trends that drive consumer choice and the future opportunities that can be explored in the region, than can help companies in revenue expansion
• To gain competitive intelligence about leading brands in the sector in the region with information about their market share and growth rates