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Report Overview

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.

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

  • Globalisation has broadened consumer exposure to diverse cultures, leading to appreciation for fragrances that incorporate regional and traditional ingredients.
  • The market is supported by personalised solutions offered by leading brands, enabling a wider clientele base.
  • Eco-consciousness is driving the demand for sustainable and ethically sourced ingredients, as well as eco-friendly packaging solutions.

Compound Annual Growth Rate

Value in USD Billion

5.5%

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.

Perfume Market

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Key Trends and Developments

Perfume Market Trends

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.

Perfume Market by Perfume by Segments

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Market Segmentation

“Perfume Industry Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Type:

  • Parfum
  • Eau De Cologne (EDC)
  • Eau De Parfum (EDP)
  • Eau De Toilette (EDT)
  • Others

Market Breakup by Product:

  • Premium Product
  • Mass Product

Market Breakup by End-User:

  • Men
  • Women

Market Breakup by Distribution Channel:

  • Supermarkets and Hypermarkets
  • Convenience Stores
  • Specialty Stores
  • Online

Market Breakup by Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
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.

Perfume Market by Region

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Competitive Landscape

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.

Perfume Market Analysis by Region

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.

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Perfume Market Report Snapshots

Perfume Market Size

Perfume Market Trends

Perfume Companies

Perfume Market Regional Analysis

*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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Key Questions Answered in the Report

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.

Report Summary

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.

Key Highlights of the Report

Please note that the figures mentioned in the description serve as estimates and may vary from the actual figures presented in the final report.

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:

  • Type
  • Product
  • End-User
  • Distribution Channel
  • Region
Breakup by Type
  • Parfum
  • Eau De Cologne (EDC)
  • Eau De Parfum (EDP)
  • Eau De Toilette (EDT)
  • Others
Breakup by Product
  • Premium Product
  • Mass Product
Breakup by End-User
  • Men
  • Women
Breakup by Distribution Channel
  • Supermarkets and Hypermarkets
  • Convenience Stores
  • Specialty Stores
  • Online
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Trade Data Analysis
  • Major Exporting Countries
    • By Value
    • By Volume
  • Major Importing Countries
    • By Value
    • By Volume
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • 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
  • Revlon Consumer Products Corporation
  • Others

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40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.

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6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84865399124