Sniffing out Success: The Booming Global Fragrance Market Expected to Reach USD 14.2 Billion in 2022

As per the study initiated by Evolve Business Intelligence, the global Fragrance Market size accounted for USD 14.2 Billion in 2022, growing at a CAGR of 6.1% from 2023 to 2033. Fragrance products refer to a range of perfumes, colognes, body sprays, and other scented products used for personal grooming and home care purposes. The fragrance market is driven by factors such as the growing demand for premium and luxury fragrance products, increasing consumer awareness about personal grooming and hygiene, and the rising popularity of aromatherapy and home fragrances. Additionally, the market is influenced by the development of new fragrance ingredients and formulations that cater to changing consumer preferences and trends. The fragrance market is highly competitive, with major players investing in research and development to create new and innovative products and expand their market share.
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Key Highlights:
• The global Fragrance Market size was valued at USD 14.2 billion in 2022 growing at a CAGR of 6.1% from 2023 to 2033.
• North America dominated the market in 2022
• Asia Pacific is expected to fastest-growing at the highest CAGR from 2023 to 2033
Evolve Business Intelligence has published a new market research report on Global Fragrance Market focusing in various aspects including market size and forecast, market dynamics, competitors market share analysis, market size in terms of value and volume, SWOT analysis, product benchmarking, key players recent developments, and opportunities, among others. The market has also been analyzed based on 4 indicators in the market dynamic chapter which includes Drivers, Restraints, Key Trends, and Challenges. The overall sum of these sections will help to understand the best strategies to be adopted in order to prosper through this industry over short and long terms. The quantitative analysis includes our authentic findings out of this research study where we provided additional insight into what our readers can do to embrace new opportunities or plan against threats that might hinder the market.
In terms of COVID 19 impact, the Fragrance Market report also includes the following data points:
• COVID19 Impact on Fragrance Market size
• End-User/Industry/Application Trend, and Preferences
• Government Policies/Regulatory Framework
• Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
• Opportunity in Fragrance Market
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Key Players
Some of the major Fragrance Market players holding high market share include LVMH Moet Hennessy-Louis Vuitton, The Estee Lauder Companies, Revlon and Puig. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders.
The key players profiled in the report are:
• The Avon Company
• CHANEL
• Coty Inc.
• LVMH Moet Hennessy-Louis Vuitton
• The Estee Lauder Companies
• Revlon
• Puig
• L'Oreal Groupe
• Shiseido Company, Ltd.
• Givaudan
• Hermes
• KERING
Segmental Analysis
Market Segment ByType with focus on market share, consumption trend, and growth rate of Fragrance Market:
o Natural
o Synthetic
Market Segment ByApplication with focus on market share, consumption trend, and growth rate of Fragrance Market:
o Perfumes
o Fine Fragrances
o Essential Oils & Aromatherapy
o Hair Care
o Soap
o Household & Air Care
Parameters Details
Market Size (2022) $ 14.2 Billion
CAGR (2023 to 2033) 6.1%
Market Segmentation Type, Application
Country Covered US, Canada, Mexico, UK, Germany, France, Italy, Spain, Nordic Countries, BeNeLux, Rest of Europe, China, India, Japan, South Korea, Indonesia, Malaysia, Australia, Rest of Asia Pacific, Middle East & Africa, and South America
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Global Fragrance Market Geographic Coverage:
• North America
o US
o Canada
o Mexico
• Europe
o UK
o Germany
o France
o Italy
o Spain
o Nordic Countries
o Benelux
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Indonesia
o Malaysia
o Australia
o Rest of Asia Pacific
• Middle East and Africa
o Saudi Arabia
o UAE
o Egypt
o South Africa
o Rest of MEA
• Latin America
o Mexico
o Brazil
o Argentina
o Rest of Latin America
Reasons to Buy this Report:
• Detail analysis of the impact of market drivers, restraints, and opportunities
• Competitive Intelligence providesan understanding of the ecosystem
• Details analysis of the Total Addressable Market (TAM) of your products
• Investment Pockets and New Business Opportunities
• Demand-supply gap analysis
• Strategy Planning

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