Luxury Perfume Market 2020 (Includes Business Impact of COVID-19) - L&L Luxury Company LTD, Pheonix Fragrance Ltd., Guccio Gucci S.p.A., Louis Vitton, Clive Christian, Floris London
The luxury perfume market size was valued at $11.7 Bn in 2018 and is expected to reach $16.8 Bn by 2026, registering a CAGR of 5.3% from 2019 to 2026.
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According to International Fragrance Association, the global fragrance market was being valued at US$49 billion in 2016. Manufacturers' continuous effort on evolving its product offerings coupled with rise in per capita income of target customers are some of those key reasons behind the growth of the global luxury perfume market.
Premiumization has been enduring its trend in different industries that includes food industry, apparel industry, cosmetic industry and others. Fragrance is one such industry premiumization taking its stride. Premiumization is the process of making a brand or a product more appealing to the customers by completely emphasizing on its superior quality and exclusivity irrespective to its high end price tags. Owing to the surge in per capita income of majority of target customer, they prefer for quality factor of the product rather than its price. This sustaining trend has majorly contributed to the overall growth of the global perfume market in terms of value sales.
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The global luxury perfume market size is segmented on the basis of price, end user, distribution channel, and region. By price, it is classified into $50-$100, $100-$200, and above $200. By end user, the market is divided into male, female, and unisex. By distribution channel, the market is further sub-segmented into specialty store and online store. By region, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, Spain, UK, Italy, France, and rest of Europe), Asia-Pacific (China, India, Australia, New Zealand and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, UAE, and rest of LAMEA).
Key players profiled in the report include L&L Luxury Company LTD, Pheonix Fragrance Ltd., Guccio Gucci S.p.A., Louis Vitton, Clive Christian, Floris London, Giorgio Armani S.p.A., Creed Boutique, LLC, Estée Lauder Companies Inc., Hermčs International S.A., and others.
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