Fragrance Market was valued at US$ 26.74 Bn. in 2023. Global Fragrance Market size is expected to grow at a CAGR of 9.17% through the forecast period

𝐅𝐫𝐚𝐠𝐫𝐚𝐧𝐜𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰

The Global Fragrance Market is experiencing a transformative phase, with increasing consumer preferences for personal grooming and premium lifestyle products. Valued at USD 19.8 billion in 2023, the market is anticipated to grow at a robust CAGR of 5.6% from 2024 to 2030, reaching nearly USD 30.6 billion by the end of the forecast period. This press release delves into country-specific insights, key developments, and growth opportunities, highlighting Vietnam, Thailand, Japan, South Korea, Singapore, the US, and Europe.

𝐓𝐨 𝐥𝐞𝐚𝐫𝐧 𝐦𝐨𝐫𝐞, 𝐬𝐢𝐦𝐩𝐥𝐲 𝐜𝐥𝐢𝐜𝐤 𝐨𝐧 𝐭𝐡𝐞 𝐥𝐢𝐧𝐤 :https://www.maximizemarketresearch.com/request-sample/70126/

𝐕𝐢𝐞𝐭𝐧𝐚𝐦: 𝐆𝐫𝐨𝐰𝐭𝐡 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐄𝐦𝐞𝐫𝐠𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭

Fragrance Opportunities in Vietnam

Vietnam's fragrance market is expanding due to the growing middle-class population and increased spending on personal care products. The market is seeing an influx of premium brands targeting young urban consumers.

Fragrance Growth in Vietnam
The country recorded a year-on-year growth of 8% in fragrance sales in 2023. The shift toward organic and natural fragrances has spurred innovation among local brands.

Trends in Vietnam's Fragrance Market
Vietnamese consumers are increasingly inclined toward sustainable and eco-friendly fragrance products, a trend adopted by global brands like L'Oréal and Procter & Gamble.

Consolidation in Vietnam
The market has witnessed significant mergers, including Unilever acquiring a 49% stake in a local distributor to expand its reach in the country.

Updation in Vietnam
Innovative launches, such as Dior's natural perfume line, have reshaped consumer preferences, fostering competition among luxury and mass-market brands.

𝐕𝐢𝐞𝐭𝐧𝐚𝐦: 𝐆𝐫𝐨𝐰𝐭𝐡 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐄𝐦𝐞𝐫𝐠𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭

Fragrance Opportunities in Thailand

Thailand's robust tourism industry and spa culture are propelling the demand for fragrances and essential oils.

Fragrance Growth in Thailand
The Thai fragrance market is forecasted to grow at a CAGR of 6.1%, driven by increased demand for local artisanal scents.

Trends in Thailand's Fragrance Market
Global players like Estée Lauder are partnering with local retailers to enhance accessibility and tap into the growing urban population.

Consolidation in Thailand
Major acquisitions, such as Coty's partnership with Thai distributors, have strengthened the supply chain and broadened product availability.

Updation in Thailand
Local brands are embracing digital platforms for direct consumer engagement, introducing customizable fragrance solutions.

𝐉𝐚𝐩𝐚𝐧: 𝐀 𝐌𝐚𝐭𝐮𝐫𝐞 𝐘𝐞𝐭 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐯𝐞 𝐌𝐚𝐫𝐤𝐞𝐭

Fragrance Opportunities in Japan

Japan's aging population is driving a preference for subtle and calming scents, creating opportunities for niche brands.

Fragrance Growth in Japan
Japan's fragrance sector grew by 4.5% in 2023, attributed to innovation in product delivery systems such as fragrance-infused fabrics.

Trends in Japan's Fragrance Market
Global brands like Shiseido are leading the way with minimalist, skin-friendly fragrance lines.

Consolidation in Japan
Recent collaborations, such as Chanel's partnership with a Japanese biotechnology firm, have highlighted the focus on innovation.

Updation in Japan
The rise of wellness-oriented fragrances has led to the introduction of aromatherapy products tailored to Japanese lifestyles.

𝐓𝐨 𝐥𝐞𝐚𝐫𝐧 𝐦𝐨𝐫𝐞, 𝐬𝐢𝐦𝐩𝐥𝐲 𝐜𝐥𝐢𝐜𝐤 𝐨𝐧 𝐭𝐡𝐞 𝐥𝐢𝐧𝐤 :https://www.maximizemarketresearch.com/request-sample/70126/

𝐒𝐨𝐮𝐭𝐡 𝐊𝐨𝐫𝐞𝐚: 𝐓𝐫𝐞𝐧𝐝𝐬 𝐢𝐧 𝐊-𝐅𝐫𝐚𝐠𝐫𝐚𝐧𝐜𝐞

Fragrance Opportunities in South Korea

South Korea's thriving beauty industry has expanded into fragrances, with consumers seeking products that align with their skincare routines.

Fragrance Growth in South Korea
The fragrance market in South Korea is projected to grow at a CAGR of 7.8%, driven by high consumer demand for luxury brands.

Trends in South Korea's Fragrance Market
K-pop influence has spurred collaborations between fragrance brands and celebrities, with companies like Jo Malone introducing limited-edition collections.

Consolidation in South Korea
LG Household & Health Care has acquired several local fragrance brands to diversify its portfolio and cater to younger demographics.

Updation in South Korea
E-commerce platforms like Coupang have become vital for fragrance sales, enhancing accessibility for international and domestic brands.

𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞: 𝐀 𝐇𝐮𝐛 𝐟𝐨𝐫 𝐋𝐮𝐱𝐮𝐫𝐲 𝐅𝐫𝐚𝐠𝐫𝐚𝐧𝐜𝐞𝐬

Fragrance Opportunities in Singapore

As a luxury retail hub, Singapore provides a dynamic market for premium and exclusive fragrance brands.

Fragrance Growth in Singapore
Singapore recorded a 9% rise in fragrance imports in 2023, driven by a surge in luxury spending.

Trends in Singapore's Fragrance Market
The demand for personalized and unique scents is on the rise, with brands like Byredo offering bespoke services.

Consolidation in Singapore
LVMH has established partnerships with high-end retailers in Singapore, solidifying its market presence.

Updation in Singapore
The integration of technology, such as AI-based scent recommendations, has enhanced the consumer experience.

𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬: 𝐀 𝐌𝐚𝐫𝐤𝐞𝐭 𝐨𝐟 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧

Fragrance Opportunities in the US

The US remains a global leader in fragrance innovation, with growing demand for gender-neutral and sustainable products.

Fragrance Growth in the US
The US fragrance market grew by 5.3% in 2023, fueled by online retail channels.

Trends in the US Fragrance Market
Top players like Estée Lauder are focusing on clean and cruelty-free product lines to attract environmentally conscious consumers.

Consolidation in the US
Mergers such as Coty's acquisition of Kylie Cosmetics' fragrance line have further diversified product offerings.

Updation in the US
The rise of subscription-based fragrance services has transformed the way consumers explore and purchase fragrances.

𝐓𝐨 𝐥𝐞𝐚𝐫𝐧 𝐦𝐨𝐫𝐞, 𝐬𝐢𝐦𝐩𝐥𝐲 𝐜𝐥𝐢𝐜𝐤 𝐨𝐧 𝐭𝐡𝐞 𝐥𝐢𝐧𝐤 :https://www.maximizemarketresearch.com/request-sample/70126/

𝐄𝐮𝐫𝐨𝐩𝐞: 𝐀 𝐇𝐞𝐫𝐢𝐭𝐚𝐠𝐞 𝐨𝐟 𝐏𝐞𝐫𝐟𝐮𝐦𝐞𝐫𝐲

Fragrance Opportunities in Europe

Europe's strong heritage in perfumery continues to dominate the global fragrance market, with a focus on high-end and artisanal scents.

Fragrance Growth in Europe
The European fragrance market is projected to grow at a CAGR of 4.9%, with France and Italy leading the charge.

Trends in Europe's Fragrance Market
Companies like LVMH and Chanel are investing in sustainable practices, aligning with stringent EU regulations.

Consolidation in Europe
Recent acquisitions, including Procter & Gamble's partnership with German retailers, have enhanced distribution networks.

Updation in Europe
Local brands are leveraging storytelling and provenance as key selling points for their fragrances.

𝐅𝐨𝐫 𝐚 𝐝𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐨𝐯𝐞𝐫𝐯𝐢𝐞𝐰, 𝐜𝐥𝐢𝐜𝐤 𝐨𝐧 𝐭𝐡𝐞 𝐥𝐢𝐧𝐤 𝐩𝐫𝐨𝐯𝐢𝐝𝐞𝐝:https://www.maximizemarketresearch.com/market-report/global-fragrance-market/70126/

𝐅𝐫𝐚𝐠𝐫𝐚𝐧𝐜𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧

by Product
Deodorants
Perfumes

𝐛𝐲 𝐄𝐧𝐝-𝐮𝐬𝐞𝐫

Men
Women
Unisex

𝐛𝐲 𝐃𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧 𝐂𝐡𝐚𝐧𝐧𝐞𝐥

Online
Supermarkets
Hypermarkets

𝐅𝐫𝐚𝐠𝐫𝐚𝐧𝐜𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

1. L'Oréal S.A
2. Kering S.A.
3. CHANEL International B.V.
4. Unilever
5. LVMH Group
6. The Procter & Gamble Company
7. Givaudan
8. Revlon, Inc.
9. Firmenich International SA
10. Estee Lauder Companies Inc.
11. Giorgio Armani S.p.A.
12. Coty Inc.

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This release was published on openPR.