Perfumes Market 2021 Growing Demand, Trends, and Business Outlook – Coty Inc.; Shiseido Company Limited; L'Oral SA; LVMH Mot Hennessy Louis Vuitton SE

The Global Perfumes Market Research Report 2021-2030 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope, and application of this report.

The global perfumes market was worth $30.6 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 10.8% and reach $46.1 billion by 2023.

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Key Market Players:

Coty Inc.; Shiseido Company Limited; L'Oral SA; LVMH Mot Hennessy Louis Vuitton SE; Revlon Inc. and Other

Rapid growth in millennial population is expected to drive the perfumes market. As of 2016, there were approximately 2 billion millennials globally. Young people tend to spend more than old on cosmetics, in an effort to improve looks and quality of life. For instance, sales of cosmetics products in millennials, increased by around 25% between 2015 and 2017. By 2025, millineals are expected to constitute to nearly three-quarters of the global work force. As millennials will represent a large part of the global workforce and play a major role in driving the current economy, their preferences and shopping habits will be an important driving factor for the perfumes market.

Counterfeits are made to look like known brands; consumers find it difficult to distinguish genuine products from the counterfeit products, thereby damaging the brand's reputation and devaluing the investment made by the brand, resulting in loss of revenues. For instance, statistics published by the European Commission states that over 40 million counterfeit articles were confiscated. Therefore, rising instances of counterfeiting limits the growth of the perfumes market.

There is a growing preference by consumers for natural fragrances in the perfumes market. According to the survey conducted by Kari Gran, 75% of millennial women prefer buying natural product and 44% prefer natural ingredient perfumes. Perfume manufacturing companies are focusing on development of natural fragrances for perfumes due to rising concerns of allergic reaction and toxins in synthetic ingredients. For instance, IME Natural Perfumes are made up of 100% natural ingredient and are also certified as toxin-free perfumes.

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The market factors explained in the report:

Market Overview: It includes Perfumes Market study scope, top key players, segments, market analysis by application, market analysis by type, and other chapters that give an overview of the research study.

Executive Summary: The Perfumes Market report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

Regional Study: All of the regions and countries analyzed in the Perfumes Market report is studied on the basis of market size by application, the market size by product, key players, and market forecast.

Key Players: This part of the Perfumes Market report discusses expansion plans of companies, key mergers and acquisitions, funding and investment analysis, company establishment dates, revenues of manufacturers, and their areas served and manufacturing bases.

Market Forecast: Here, the report offers a complete forecast of the global Perfumes Market by product, application, and region. It also offers global sales and revenue forecasts for all years of the forecast period.

The research includes historic data from 2015 to 2021 and forecasts until 2030 which makes the report an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Note: All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply-chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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