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The global perfume market reached approximately USD 48.42 Billion in 2023. The market is projected to grow at a CAGR of 5.50% between 2024 and 2032.
Base Year
Historical Year
Forecast Year
Value in USD Billion
2024-2032
Perfume Market Outlook
*this image is indicative*
Global Perfume Market Report Summary | Description | Value |
Base Year | USD Billion | 2023 |
Historical period | USD Billion | 2018-2023 |
Forecast Period | USD Billion | 2024-2032 |
Market Size 2023 | USD Billion | 48.4 |
Market Size 2032 | USD Billion | 78.4 |
CAGR 2018-2023 | Percentage | XX% |
CAGR 2024-2032 | Percentage | 5.5% |
CAGR 2024-2032 - Market by Region | Asia Pacific | 6.9% |
CAGR 2024-2032 - Market by Country | Brazil | 6.2% |
CAGR 2024-2032 - Market by Country | Canada | 5.3% |
CAGR 2024-2032 - Market by Type | Eau De Cologne (EDC) | 6.1% |
CAGR 2024-2032 - Market by End User | Men | 5.9% |
Market Share by Country | Canada | 1.5% |
Perfume is defined as a fluid preparation of natural or synthetic essences that is used for fragrance. The application of perfume is an indicator of personal style and preferences and is mainly used to enhance the overall presentability of an individual. It is usually made from essential oils extracted from flowers or spices and is used to give a pleasant odour to one's body.
The perfume industry growth is influenced by the increased necessity of perfumes in the daily lives of consumers. The thriving beauty and fashion sector, increasing awareness among consumers about personal well-being and grooming, and the usage of perfumes to improve the natural body odour are also important factors escalating the market growth. The diversification of fragrances allows consumers to choose the option that best suits their needs. Furthermore, the growing e-commerce sector, along with attractive deals offered by various e-commerce platforms is expected to positively influence the perfume industry statistics in the years to come.
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Baccarose: The Mumbai-based premium beauty company, Baccarose, unveiled its latest addition to the Indian market, a French luxury perfume brand, Alexandre.J, thereby expanding its fragrance collection.
Coty: The beauty and fragrance brand, Coty entered into a partnership with the Italian luxury fashion brand, Etro, for the creation and global distribution of Etro's signature fragrance lines and collections of home scents.
Kajal Perfumes Paris: Kajal Perfumes Paris announced its partnership with Microcaps AG and Luzi AG to introduce the world's first ethanol-free perfume, which utilises the innovative Perfume Pearls technology developed by Microcaps.
Aranyam: Aranyam, a leading natural fragrance brand in India, announced the launch of six new natural and affordable scents under oudh and aqua categories.
Innovations in perfume packaging design have become a pivotal element in the fragrance sector. Innovative packaging design allows a perfume brand to stand out on crowded retail shelves and online marketplaces. A distinctive bottle shape, cap design, or packaging material can become synonymous with the brand, helping to build a strong and recognisable identity. Moreover, with growing environmental awareness, there is a significant shift towards using sustainable materials in perfume packaging, such as the incorporation of biodegradable, recycled, or recyclable materials over traditional plastics.
The market players are collaborating to leverage mutual strengths, expand product offerings, and tap into new markets. The collaboration announced in February 2024 between Coty, a prominent player in the beauty and fragrance sector, and Etro, an esteemed Italian luxury fashion brand, marks a strategic alliance aimed at leveraging Coty's extensive experience and global distribution network in the beauty sector to create and widely distribute Etro's signature fragrance lines.
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“Perfume Industry Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type:
Market Breakup by Product:
Market Breakup by End-User:
Market Breakup by Distribution Channel:
Market Breakup by Region:
CAGR 2024-2032 - Market by | Type |
Eau De Cologne (EDC) | 6.1% |
Eau De Parfum (EDP) | 5.9% |
Parfum | 5.6% |
Eau De Toilette (EDT) | XX% |
Others | XX% |
CAGR 2024-2032 - Market by | End User |
Men | 5.9% |
Women | XX% |
The mass product segment accounts for a major perfume market share due to its cost-effectiveness and easy accessibility
Mass product perfumes occupy a significant share of the perfume market as they are priced to be more affordable than their luxury counterparts, making them accessible to a wider range of consumers. These products are readily available in various retail outlets, including drugstores, supermarkets, and online platforms, making them easy to purchase. Mass-market perfumes also cater to a wide range of consumer preferences, offering a diverse selection of scents. From floral to woody notes, these products are designed to meet the current trends and preferences of a broad consumer base.
Market Share by | Country |
Canada | 1.5% |
USA | XX% |
UK | XX% |
On the basis of product, premium perfumes are expected to witness robust demand in the forecast period. This can be attributed to the rising popularity of premium perfumes among youth as they are long-lasting, unique, and come with innovative fragrances. Premium perfume brands are often preferred by consumers with larger budgets. Factors such as the heightened living standards of people, the growing awareness about personal hygiene, and increasing brand endorsement by celebrities are also boosting the segment growth.
Women are the dominant end users in the perfume market, and brands offer a wide range of fragrances to meet this demand
Women are the major consumers of fragrance products and significantly contribute to the perfume market revenue. Perfume has historically been more closely associated with female beauty and grooming rituals. The market for women's perfumes is characterised by a vast array of scents, brands, and products as companies often target women with new launches and extensive marketing campaigns, contributing to higher sales. Moreover, perfumes are also a popular gift choice for women on various occasions, further driving up sales in this segment.
CAGR 2024-2032 - Market by | Region |
Asia Pacific | 6.9% |
Middle East and Africa | 6.1% |
North America | XX% |
Europe | XX% |
Latin America | XX% |
The cultural shift towards male grooming and self-care has led to increased acceptance and use of perfumes among men. This has prompted brands to expand their offerings for men and invest in marketing to this demographic. Furthermore, recent years have seen a surge in the diversity of scents and products available to men, driving interest and sales.
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The market players are increasingly investing in promotional activities and are launching ethically sourced and sustainable products to gain a competitive edge in the market
Company | Founded | Headquarters | Products |
The Estée Lauder Companies Inc | 1946 | New York, United States | Luxury skincare, makeup, fragrance, and hair care products |
L'Oréal S.A. | 1909 | Hauts-de-Seine, France | Hair colour, skincare, sun protection, make-up, perfume, and hair care products |
Calvin Klein Inc. | 1968 | New York, United States | Perfumes, designer jeans, ready-to-wear outfits |
Guccio Gucci S.p.A | 1921 | Tuscany, Italy | High-fashion clothing, leather goods (such as handbags and belts), footwear, fragrances, and eyewear |
Other major players in the perfume market include Shiseido Co., Ltd., Beiersdorf AG, Amorepacific Corporation, Giorgio Armani S.p.A., Coty Inc., Yardley London, and Revlon Consumer Products Corporation, among others.
Europe, particularly France, is considered the birthplace of modern perfumery and this rich heritage continues to influence consumer preferences and contributes to Europe's prominent position in the global market. European perfumes are known for their high-quality ingredients, sophisticated scent compositions, and craftsmanship. The region's stringent regulations on cosmetic products, including perfumes, ensure product safety and quality, fostering trust and loyalty among consumers. Europe is also home to many of the world's leading fashion and luxury brands, many of which have their own lines of perfumes. These brands often set trends in the perfume sector, and their products are highly sought after both by European consumers and internationally.
CAGR 2024-2032 - Market by | Country |
Brazil | 6.2% |
Canada | 5.3% |
Germany | 4.8% |
France | 4.5% |
Italy | 4.3% |
USA | XX% |
UK | XX% |
China | XX% |
Japan | XX% |
India | XX% |
Australia | 4.1% |
Saudi Arabia | XX% |
Mexico | XX% |
The Asia Pacific perfume market is also anticipated to witness robust growth in the coming years. The region's large and growing youth population, particularly in countries like India and China, combined with rapid urbanisation, has contributed to a shift in consumer behaviour towards fashion and lifestyle products, including perfumes. The expansion of e-commerce platforms and online retail has also significantly impacted perfume sales in the Asia Pacific region as it has made a wide variety of perfumes accessible to consumers.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market reached a value of USD 48.42 Billion in 2023.
The market is estimated to grow at a CAGR of 5.50% in the forecast period of 2024 and 2032.
The increasing brand awareness, rising disposable income, increasing necessity of perfumes in daily lives, rising number of working women, and emergence of unisex perfume brands, are the major drivers of the market.
The key trends in the perfume market include the growing research and development activities by the market players to innovate fragrances and enhance the quality of packaging, thriving e-commerce sector, and rising investment towards social media marketing.
Parfum, Eau De Cologne (EDC), Eau De Parfum (EDP), and Eau De Toilette (EDT) are the different types included in the market report.
Premium product and mass product are the segments of market based on product.
Men and women are the different end-users included in the market report.
The major players in the market are LVMH Moët Hennessy - Louis Vuitton, The Estée Lauder Companies Inc, L'Oréal S.A., Shiseido Co., Ltd., Beiersdorf AG, Amorepacific Corporation, Calvin Klein Inc., Guccio Gucci S.p.A., Giorgio Armani S.p.A., Coty Inc., Yardley London, and Revlon Consumer Products Corporation, among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Product |
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Breakup by End-User |
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Breakup by Distribution Channel |
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Breakup by Region |
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Market Dynamics |
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Trade Data Analysis |
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Competitive Landscape |
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Companies Covered |
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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