Luxury Perfumes Market 2018 : By Key Players Estee Lauder Companies Inc., Chanel Inc., Hermes Europe GmbH, Ralf Lauren Corp, Kering S.A., Gianni Versace S.p.A., Christian Dior S.A., Prada S.p.A, and Moet Hennessy Louis Vuitton S.A.

The demand for luxury perfumes is anticipated to witness a steady demand during the forecast period on account of rising brand presence in emerging economies. Increasing purchasing power of consumers, strengthening economic condition of the emerging economies and increasing penchant towards luxurious products are some of the key factors driving growth of the luxury perfumes market.

Furthermore, increasing inclination of population towards online mode of purchasing is another factor boosting growth of the luxury perfumes market. Consumers are easily attracted towards online shopping due to the convenience it offers in the form of easy delivery, continuous offers and discounts, promotional activities, and various others.

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The demand for luxury perfumes in the online segment is witnessing a significant growth at present and the same is expected to surge further during the forecast period. Consumer inclination towards online purchases, rapid emergence of several e-commerce companies coupled with aggressive marketing and promotional activities are some of the factors responsible for the significant growth of the online segment.

Luxury Perfume Market Outlook

North America accounted for the dominant share in the global luxury perfumes market in 2016 and is predicted to retain its dominance throughout the forecast period. Fair presence of luxury perfume brands across the economy, high purchasing power of consumers backed by strong economy of the country are some of the factors boosting the demand for luxury perfumes in the region.

Asia Pacific is anticipated to exhibit the fastest growth during the forecast period. In 2015, the Government of India had approved 51% Foreign Direct Investment (FDI) in multi brand retail and 100% FDI in single brand retail to strengthen the economic condition of India.

Key Players in the Luxury Perfumes Market

Some of the major companies operating in the luxury perfumes market include the Estee Lauder Companies Inc., Chanel Inc., Hermes Europe GmbH, Ralf Lauren Corp, Kering S.A., Gianni Versace S.p.A., Christian Dior S.A., Prada S.p.A, and Moet Hennessy Louis Vuitton S.A. (LVMH).

Luxury Perfumes Market Taxonomy

Based on distribution channel, the global luxury perfumes market is segmented into:

Hypermarket
Supermarket
Specialty Stores
Online Channel
Others

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