Fragrance Market Trends and Forecast: 9.17% CAGR Expected to Drive Growth Through 2030

𝐅𝐫𝐚𝐠𝐫𝐚𝐧𝐜𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰

The global fragrance market, valued at approximately USD 26.74 billion in 2023, is projected to reach USD 49.43 billion by 2030, exhibiting a robust compound annual growth rate (CAGR) of 9.17% during the forecast period.

To add a pleasing scent to the human body, animals, food, objects, and any living space, fragrance is a concoction of essential oils or aroma compounds, fixatives, and solvents.

The fragrance industry creates a variety of perfumes based on their intended application. Traditionally, bath oils, eau de toilette, and body lotion are applied in the morning, and perfume is applied in the afternoon. Perfume may last longer than other scented products in terms of scent retention.

𝐅𝐨𝐫 𝐚 𝐪𝐮𝐢𝐜𝐤 𝐨𝐯𝐞𝐫𝐯𝐢𝐞𝐰 𝐨𝐟 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭, 𝐩𝐥𝐞𝐚𝐬𝐞 𝐜𝐥𝐢𝐜𝐤 𝐡𝐞𝐫𝐞: https://www.maximizemarketresearch.com/request-sample/70126/

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬

𝐅𝐫𝐚𝐠𝐫𝐚𝐧𝐜𝐞 𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐕𝐢𝐞𝐭𝐧𝐚𝐦

Vietnam's fragrance market is experiencing steady expansion, fueled by a growing middle class and urbanization. Consumers are increasingly adopting personal care products, including fragrances, as part of their daily routines. The market is also witnessing the entry of international brands, enhancing product availability and variety.

𝐅𝐫𝐚𝐠𝐫𝐚𝐧𝐜𝐞 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐓𝐡𝐚𝐢𝐥𝐚𝐧𝐝

Thailand presents significant opportunities in the fragrance sector, with a market size that has been expanding due to rising tourism and a strong retail sector. The demand for both local and international fragrance brands is on the rise, supported by consumers' increasing spending power and interest in premium products.

𝐅𝐫𝐚𝐠𝐫𝐚𝐧𝐜𝐞 𝐓𝐫𝐞𝐧𝐝𝐬 𝐢𝐧 𝐉𝐚𝐩𝐚𝐧

In Japan, the fragrance market is characterized by a preference for subtle and sophisticated scents. The market is mature, with consumers showing loyalty to established brands. However, there is a growing trend towards niche and personalized fragrances, catering to the sophisticated tastes of Japanese consumers.

𝐂𝐮𝐫𝐢𝐨𝐮𝐬 𝐭𝐨 𝐩𝐞𝐞𝐤 𝐢𝐧𝐬𝐢𝐝𝐞? 𝐆𝐫𝐚𝐛 𝐲𝐨𝐮𝐫 𝐬𝐚𝐦𝐩𝐥𝐞 𝐜𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐧𝐨𝐰: https://www.maximizemarketresearch.com/request-sample/70126/

𝐅𝐫𝐚𝐠𝐫𝐚𝐧𝐜𝐞 𝐔𝐩𝐝𝐚𝐭𝐢𝐨𝐧 𝐢𝐧 𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞

Singapore serves as a hub for the fragrance industry in Southeast Asia, with a dynamic market that embraces both traditional and contemporary scents. The country's strategic location and robust retail infrastructure make it an attractive market for international brands. There is a notable trend towards sustainable and natural fragrances, aligning with global consumer preferences.

𝐅𝐫𝐚𝐠𝐫𝐚𝐧𝐜𝐞 𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬

The United States leads the global fragrance market, with North America generating revenue exceeding USD 20 billion in 2018. The market continues to grow, driven by innovation and the introduction of new products catering to diverse consumer preferences. Major manufacturers are adopting strategies such as new product launches and mergers and acquisitions to strengthen their market position.

𝐅𝐫𝐚𝐠𝐫𝐚𝐧𝐜𝐞 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐄𝐮𝐫𝐨𝐩𝐞

Europe remains a significant market for fragrances, with a rich heritage of perfumery. The region is witnessing a surge in demand for luxury and niche fragrances, supported by consumers' willingness to invest in premium products. The market is also embracing sustainable and natural ingredients, reflecting a broader trend towards environmental consciousness.

𝐊𝐞𝐲 𝐑𝐞𝐜𝐞𝐧𝐭 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬

Cult Gaia's Fragrance Launch: Los Angeles-based brand Cult Gaia expanded its product repertoire by launching three new in-house fragrances: Mast, Zan, and Noor. This move is part of the brand's effort to create memorable and nostalgic pieces, anchoring significant life moments for customers.

Market Expansion: The global fragrance market is experiencing significant growth, with projections indicating an increase from $64.4 billion in 2023 to $68.9 billion by the end of 2024. This growth is attributed to the introduction of new technologies and molecules that enhance fragrance longevity and nuance.

𝐃𝐢𝐯𝐞 𝐢𝐧𝐭𝐨 𝐭𝐡𝐞 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐰𝐢𝐭𝐡 𝐨𝐮𝐫 𝐟𝐫𝐞𝐞 𝐬𝐚𝐦𝐩𝐥𝐞 𝐫𝐞𝐩𝐨𝐫𝐭: https://www.maximizemarketresearch.com/request-sample/70126/

𝐅𝐫𝐚𝐠𝐫𝐚𝐧𝐜𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧

𝐛𝐲 𝐏𝐫𝐨𝐝𝐮𝐜𝐭

Deodorants
Perfumes

𝐛𝐲 𝐄𝐧𝐝-𝐮𝐬𝐞𝐫

Men
Women
Unisex

𝐛𝐲 𝐃𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧 𝐂𝐡𝐚𝐧𝐧𝐞𝐥

Online
Supermarkets
Hypermarkets

According to the distribution channel, the online channels category is anticipated to grow at a compound annual growth rate (CAGR) of 7.2 percent between 2024 and 2030. Throughout the projection period, the growing use of smartphones and high-speed internet is expected to support the industry's growth. Additionally, hassle-free shopping, a wide selection of products, and easy delivery are all contributing to the growth of online sales.

𝐓𝐨 𝐋𝐞𝐚𝐫𝐧 𝐌𝐨𝐫𝐞 𝐀𝐛𝐨𝐮𝐭 𝐓𝐡𝐢𝐬 𝐒𝐭𝐮𝐝𝐲, 𝐏𝐥𝐞𝐚𝐬𝐞 𝐂𝐥𝐢𝐜𝐤 𝐇𝐞𝐫𝐞: https://www.maximizemarketresearch.com/market-report/global-fragrance-market/70126/

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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