Perfumes and Deodorants Market Expected to Reach US ~$69.31 Billion and CAGR 3.7% by 2028 - Polaris Market Research
The report "Perfumes and Deodorants Market Share, Size, Trends, Industry Analysis Report, By Distribution Channel (Supermarkets & Hypermarkets, Specialty Stores, Pharmacies, E-commerce, Others); By Type, By Region; Segment Forecast, 2021 - 2028" gives a detailed insight into current market dynamics and provides analysis on future market growth.
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The market growth is witnessed by certain factors such as increasing penetration of cruelty-free smells coupled with the growing adoption of perfumes & deodorants for personal care daily routines may fuel the demand in the industry. Celebrities or influencers can directly catch an individual's attention and shows a positive impact on a product sale.
Furthermore, leading brands are improving their products based on the end-use penchants tied with the escalating demand for the scents mainly slanted towards youth and celebrity aromas may positively influence the demand for perfumes & deodorants in the forecasting years.
The perception and preference for veganism continuously drive the global industry demand. Numerous existing players are focusing on the development of their products to satisfy the growing needs of green consumers across the globe. For a few years, several brands have been introducing numerous vegan products targeting consumers of all age groups.
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For instance, a U.K.-based perfume retailer, The Perfume Shop Limited, unveiled the company's new line of vegan perfumes in August 2019, underneath three brands, i.e., Peppered Earth, Citrus Fresco, and Amber Glow. Each perfume was mutually vegan, and cruelty certified and was boxed by utilizing recyclable materials. Therefore, the growing demand for vegan products is attributed to the industry growth in the forecasting period.
Major Participants such as Firmenich S.A., Burberry Group plc, Calvin Klein, Christian Dior S.A., Beiersdorf, Estee Lauder Companies, Inc., Nivea India Private Limited, Revlon, Inc., Wipro Consumer Care & Lighting, Godrej Consumer Products Limited, Hindustan Unilever Limited, ITC Limited, J.K. HELENE CURTIS LTD, L'Oreal Group, LVMH, Marico Limited, VINI International, McNroe Consumer Products Private Limited, and Giorgio Armani S.p.A, are the several prominent players operating in the global industry.
Key participants in the industry are focusing on increasing their portfolio of offerings. For instance, in March 2021, Old Spice introduced its new fragrance-Nightpanther into the company's product line. The product is imperceptible solid deodorants and antiperspirants, which offer long-lasting chocolate and sandalwood scent.
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Polaris Market Research has segmented the perfumes and deodorants market report on the basis of type, distribution channel, and region.
Perfumes & Deodorants, Type Outlook (Revenue, USD Billion, 2016 - 2028)
Perfumes & Deodorants, Distribution Channel Outlook (Revenue, USD Billion, 2016 - 2028)
• Supermarkets & Hypermarkets
• Specialty Stores
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