Global Fragrances Market - Future Trends and Opportunities 2018

Fragrances, once regarded as frivolous and non-essential commodities, have seamlessly transformed themselves into essential day-to-day products that form a significant part of personal grooming. Fragrances are today a vital and mainstream element of the cosmetics industry and have gained much attention from consumers across the globe.

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Fragrances are a way of expressing personal style and individuality, thereby making it a consumer-driven industry. The fragrances market is also dictated by fickle and ever-changing fashion trends. This means that manufacturers in the industry are on a constant lookout for exciting, unique, and new fragrances to attract different consumer segments worldwide.

The research report is an attempt to understand the fragrances market and provide clients with an unmatched and invaluable evaluation of the overall industry. Delving deeper into the fragrances market and its various nuances, this comprehensive publication discusses the factors governing the global and regional industrial landscape. The report, with the help of accurate and insightful statistics, throws light on the size, volume, and share of the global fragrances market and also provides strategic recommendations to help improve businesses.

Overview of the global fragrances market

As mentioned earlier, fragrances have achieved much importance among personal care and grooming products. As might be expected, the women’s fragrances segment dominates the overall market and as a result, a majority of the innovations and product differentiations are targeted at this segment. However, even though fragrances for the fairer sex have long since captured the market, perfumes and fragrances for men have, of late, grabbed the attention of industry players. This has had a transformational impact on the global market and has set the pace for rapid expansion in the coming years.

Another factor that governs the fragrances market is the trend of celebrity-inspired perfumes. These include fragrances endorsed by leading personalities in various walks of life as well as signature scents used by celebrities as a self-promotion campaign. Fragrances such as these garner much hype among certain sections of the consumer base. This trend has been observed across regions such as North America, Europe, and some countries in the Asia-Pacific region. However, market analysts state that this fad was met with negative response in the United Arab Emirates owing to vast diversity in population. People living in the UAE may or may not associate with celebrities from countries such as the United States, the United Kingdom, Australia, Canada, Spain, and Italy, which leaves the fragrances market relatively unchanged when it comes to celebrity-inspired scents.

Premium brands account for a major share of the fragrances market in UAE owing to exceptional per capita incomes. In other parts of the world, this segment has gained demand in recent years thanks to rising disposable incomes and improving economies. Chanel, Gucci, Calvin Klein, Christian Dior, Prada, Yves Saint Laurent, and Louis Vuitton are some of the premium companies that have established themselves in the fragrances market.

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