Press release
Perfume Market Size To Exceed US$ 74.1 billion by 2027, CAGR Of 5.9% | Estee Lauder Companies Inc., LVMH, Coty Inc.
Perfume Market
The global perfume market was valued at around US$ 47.0 billion in 2019 and is expected to exhibit a CAGR of 5.9% over the forecast period (2020-2027), to surpass US$ 74.1 billion by 2027.
Market Dynamics:
Growing online sales of perfumes through e-commerce platforms is expected to drive high growth of the perfume market during the forecast period. Ecommerce provides consumers with a vast variety of perfume brands and varieties at competitive prices compared to retail stores. Furthermore, growing fashion consciousness among millennials and the working population is propelling the demand for new and premium fragrances. Rapid urbanization coupled with rising disposable incomes in developing regions is also augmenting the growth of the global perfume market. Product launches catering to regional tastes and preferences by leading brands will further compliment the market growth.
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One key market opportunity for the perfume market
Growing e-commerce sales and online marketplaces
E-commerce has emerged as a huge growth opportunity with rising internet and smartphone penetration globally. Today, most major perfume brands have an strong online presence selling directly through their own websites or marketplace platforms. The convenience of online shopping coupled with lucrative discounts and deals is luring more consumers away from physical stores. Companies are aggressively expanding their digital footprint and customizing online shopping experiences. The global e-commerce boom in general bodes very well as a major new sales channel opening up for the perfume market.
One key market trend in the perfume market
Increasing demand for natural and organic fragrances
An important trend gaining momentum is the higher demand for natural perfumes and organic fragrances made from plant-derived ingredients with no harmful chemicals. Consumers are more health-conscious now and prefer products that are safer for both skin and environment. This focus on wellness has benefited natural brands immensely. Even large brands are launching natural sub-brands or lines made from high-quality essential oils, floral essences etc. Sustainably sourced ingredients packaged in eco-friendly bottles are very appealing qualities. Overall, the natural and organic space is one of the fastest growing segments in the perfume industry currently.
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Top Companies Featured in This Report:
★ Estee Lauder Companies Inc.
★ LVMH
★ Coty Inc.
★ L'Oreal
★ Elizabeth Arden Inc.
★ Shiseido Co., Ltd.,
★ Puig
★ Perfumania Holdings Inc.
★ Avon Products Inc.
★ Hermes.
Market Segmentation:
By Applications:
★ By Product Type: Eau de Parfum, Eau de Toilette, Eau de Cologne, and Eau Fraiche)
★ By Demographics: Men's Perfume, Women's Perfume, and Unisex Perfume)
★ By Ingredient Type: Natural and Synthetic
★ By Distribution Channel: Online Retail and Physical Retail
Key Regions/Countries Classified as Follows:
» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
The report offers insights on the following aspects:
Chapter 1: Study Coverage
Chapter 2: Executive Summary
Chapter 3: Analysis of Perfume Market Competition Landscape by Players
Chapter 4: Assessment of Perfume Market Size by Type and Application
Chapter 5: Global and Regional Analysis
Chapter 6: Company Profiles, recent developments, and investments
Chapter 7: Analysis of Market Opportunities, Challenges, Risks, and Influencing Factors
Chapter 8: Evaluation of Value Chain and Sales Channels, including breakthrough product developments
Chapter 9: Research Findings and Conclusion
Chapter 10: Methodology/Research Approach
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.
In summary, whether you're engaged in manufacturing, distribution, or investment within the Perfume sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.
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Author Bio:
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)
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