Luxury Perfume Market to Grow Faster According to New Research Report 2026
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.
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Luxury perfume manufacturers consider the quality of the product to be taken into consideration during the production process since majority of target customers seeks for the product ingredient and transparency irrespective of its prices. As a result, they have been taking steps and initiating key product development strategies to cater to the requirements of the customers.
Initiating key mergers and acquisitions is another key strategy considered to be adopted by the luxury perfume manufacturers. With the rise in demand for natural cosmetic and fragrance products from the target customers, manufacturers have been acquiring regional artisanal perfume companies in the view of generating sales out of it. For instance, in 2015, Estée Lauder announced the acquisition of high-end Editions de Parfums Frédéric Malle. The company specializes in the production of natural fragrance products.
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The rise in rate of internet penetration around the major parts of the world makes way for manufacturers to initiate several key online marketing programs as online platforms are one of the easiest ways to create awareness about the specifications and features of the luxury perfume products among the target customers.
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., Hermès International S.A., and others.
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