Future Outlook Of Global Fragrance And Perfume Market - Explore The 2021 To 2027 Trends, Analysis, Forecasts, And Overview And Market Development

Growing demand for beauty and personal care products is a major factor driving growth of the fragrance and perfume market. According to the U.S. Department of Commerce, International Trade Administration (ITA), Indian Beauty and Personal Care (BPC) industry was valued at US$ 8 billion in 2016 and it is expected to exhibit a CAGR of 5-6% during the forecast period (2017-2021). Changing standards of living and rising awareness regarding personal grooming products are leading to expansion of consumer base for fragrances and perfumes. According to Trading Economics Statistics on United States Disposable Personal Income, the disposable personal income in the U.S. averaged US$ 5,200.2 billion in 1959, which increased to US$ 15,742.81 billion in November 2018.

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Key Players:-

Players operating in the global fragrance and deodorant market are LVMH Moët Hennessy – Louis Vuitton SE, L’Oreal S.A., Estée Lauder Companies, Elizabeth Arden, Inc.; Chanel SA, Coty Inc., Avon Products Inc., Natura Cosmticos SA, Shiseido Co., Ltd, Revlon Inc., and Hermès International SA, among others.

Development of innovative products and rising promotional activities adopted by key players is supporting growth of the global fragrance and perfume market. For instance, in May 2019, HE deodorants launched a new advertising campaign to increase market visibility of its products. In February 2019, Unilever launched deodorant wipes and deodorant mini sprays.

Market Outlook:-

North America held a significant market share in 2018 in the global fragrance and perfume market. In North America, U.S. held highest market share in 2018 and is expected to retain its dominance during the forecast period (2019-2027). This is attributed to increasing demand of beauty and personal care products in the U.S. According to the International Trade Administration, exports of personal care and cosmetics products from the U.S. were valued at US$ 10.4 Bn in 2015, whereas, total exports in the personal care and cosmetics industry from the U.S. increased at an average rate of 15% from 2013 to 2016. Moreover, according to the Cosmetics Europe, global cosmetics and personal care products industry accounted for US$ 295.05 Bn in 2016 of which the U.S. accounted for US$ 72.63 Bn.

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Key Developments:-

Players operating in the global fragrance and perfume market are adopting different strategies to gain competitive advantage
For instance, in February 2016, Estee Lauder announced acquisition By Kilian, a prestige fragrance brand based in Paris, to enhance its product portfolio
In March 2017, LVMH acquired Maison Francis Kurkdjian, a France-based luxury perfume company to expand its product portfolio
In September 2017, Chanel S.A. launched a new perfume Gabrielle which has fragrance of jasmine, orange blossom, ylang ylang, and grasse tuberose
Market Taxonomy:-

On the basis of product type, the global fragrance and perfume market is segmented into:

Perfume
Deodorant
Others
On the basis of category, the global fragrance and perfume market is segmented into:

Natural
Synthetic
On the basis of type, the global fragrance and perfume market is segmented into:

Mass
Premium
On the basis of end user, the global fragrance and perfume market is segmented into:

Men
Women
On the basis of distribution channel, the global fragrance and perfume market is segmented into:

Online
Hypermarket
Supermarket
Specialty Stores
Others

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