Global Luxury Perfume Market To Witness Steady Expansion During 2020- LVMH, Kering S.A, Coty Inc., Chanel S.A, Hermes International S.A, Burberry Group PLC
The luxury perfume market is forecasted to grow at a CAGR of 6.2% during the forecast period (2020 - 2025).
- Growing brand consciousness and increasing expenditure for luxury goods among millennial is supporting the market growth from last few years. Due to significant demand from the younger generation, key players have now come up with various offers on their products along with customized packaging of luxury perfumes. This strategy makes the products quite affordable and supporting the market growth.
- Also the rising trend among consumers to buy luxury perfumes to give it as a gift is further influencing the sales of luxury perfumes across the globe.
- Additionally, increasing influence of social media on shopping habits, celebritys endorsement is likely to support the luxury perfume market growth in upcoming years. Additionally, easy availability of luxury perfume in various regions through the online platform is influencing the sales of luxury perfumes from last few years.
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Market By Top Companies:
LVMH, Kering S.A, Coty Inc., Chanel S.A, Hermes International S.A, Burberry Group PLC, Prada Holding S.P.A, Compagnie Financiere Richemont SA
Industry Research Coverage
Substantial Demand For Unisex Perfumes
Demand for unisex fragrances and perfumes is rising in popularity across the world, as consumers today are focusing on expressing their individual personalities through their fragrances, and are preferring scents with unique personal appeal. Hence, a number of manufacturers engaged in the fragrances market are trying to bring most unique and affordable options for the consumers. The demand for perfumes targeted for unisex customers is particularly seen among male consumers, where the consumers are looking for luxurious classic fragrances. Furthermore, celebrity endorsements in the unisex fragrances, along with use of various natural fragrances, such as pink pepper, orange flower, and cedarwood is gaining popularity globally, among consumers. Such genderless fragrances targeting, both men and women consumers are becoming highly popular in countries, such as, the United States, France, Italy, Mexico, Kuwait, Saudi Arabia, among others. However, the category is still not highly popular in few markets, such as Brazil.
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The global luxury perfume market is a moderately fragmented market and comprises of international and regional competitors.The leading companies are focused on the product innovation, specifically designed and targeted for women and unisex consumer groups. For instnce in June 2018: Chanel introduced three new unisex perfumes inspired and named as Deauville, Biarritz, and Venise which come in a sleek bottle. Active companies are compete on different factors, including product offerings, price, ingredients, and marketing activities, in order to gain competitive advantage in the market. Key players are focussing on online distribution channels for the online marketing and branding of their products to attract more customers.
Major points covered in this research are:-
─Luxury Perfume Market Overview, Segment by Type (Product Category), by Application, by Region (2020-2025), Competition by Manufacturers
─Global Market Size (Value) of Luxury Perfume (2020-2025)
─Global Luxury Perfume Capacity, Production, Revenue (Value), Supply (Production), Consumption, Export, Import by Region (2020-2025)
─Global Luxury Perfume Production, Revenue (Value), Price Trend by Type
─Global Luxury Perfume Market Analysis by Application
─Global Luxury Perfume Manufacturers Profiles/Analysis
─Luxury Perfume Manufacturing Cost Analysis
─Industrial Chain, Sourcing Strategy and Downstream Buyers
─Marketing Strategy Analysis, Distributors/Traders
─Market Effect Factors Analysis
─Global Luxury Perfume Market Forecast (2020-2025)
─Research Findings and Conclusion
Finally, this Luxury Perfume report covers the market scenario and its development prospects over the coming years. Report likewise manages the type analysis, contrasting it with the significant application, recent Luxury Perfume product development and gives an outline of the potential Global market.
Irfan Tamboli (Sales)
Phone: + 1704 266 3234
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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