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Fragrance and Perfume Market – Industry Analysis, Growth, Trends by 2025

12-06-2021 06:24 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: TMR

The global fragrance and perfume market is highly saturated with large number of players. Some of the key players are Coty Inc., Bvlgari, Gucci, Procter & Gamble, Prestige Beauty, L’Oreal International, Firmenich, LVMH, Elizabeth Arden Inc., Perfumania Holdings Inc., Estee Lauder Beautiful, Avon Products Inc. and Calvin Klein Inc. Players are investing in expansion of product portfolio in developing regions such as Asia Pacific and Middle East & Africa.

Fragrance and perfumes have seamlessly improved the grooming habits of individuals and have become important products of day-to-day life. Perfumes are a combination of essential oils and aroma compounds and are used to improve body odor. These products are also used to express personal elegance, individuality, and self-confidence. Consumers are preferring fragrance and perfume products than luxury items such as bags or shoes as they are more affordable.

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Custom-made and natural and eco-friendly perfumes are some of the most recent trends in the global fragrance and perfume market. Increase in population especially young population, changing lifestyle, and growing awareness of beauty care products are some of the key factors driving the global fragrance and perfume market. With increase in population there is increasing consumer expenditure on personal and beauty care products. Hence, the global fragrance and perfume market is growing rapidly.

Fragrance and perfume providers are becoming more innovative and offering better products at reasonable prices. This is expected to increase the penetration rate of perfumes over the forecast period. The popularity of various premium brands is increasing rapidly among consumers. Increasing customer spending on luxury products due to the increasing disposable income is boosting the growth of the global fragrance and perfume market. Furthermore, usage of scented products for the home is expected to provide a growth opportunity for the global fragrance and perfume market in future. Nonetheless, the usage of chemical materials which may have some side effects and fake cosmetics and toiletry products are expected to hinder the growth of the global fragrance and perfume market during the forecast period.

The global fragrance and perfume market can be segmented on the basis of usage, type, product, distribution channels, and geography. On the basis of usage, the market can be segmented by female, men, and unisex perfumes. The unisex perfume segment is anticipated to grow significantly over the forecast period owing to the growth in the number of unisex perfume products. On the basis of type, the market can be segmented by premium products and mass products. Premium products are dominating the global fragrance and perfume market owing to the availability of various brands at affordable cost.

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Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals. Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information, we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

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Transparency Market Research

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