According to IMARC Group’s latest report, titled “Perfume Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global market reached a value of US$ 33.5 Billion in 2021. Perfumes are composed of fragrances and essential oils, which offer a pleasant smell to the individual. Some of the common natural ingredients utilized in the production of perfumes include flowers, fruits, grasses, leaves, spices, woods, roots, balsams, gums, resins, and animal secretions. It signifies a person’s style, personality, and individuality and a good scent can influence mood, emotions, behavior, perception, and human thoughts. Presently, the production of perfumes has evolved into a mainstream business in the personal care and cosmetics industry.
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The emerging trend of personal grooming, along with the rising demand for youth-oriented and exotic fragrances, is primarily driving the global perfume market. Furthermore, escalating demand for luxury fragrances due to the inflating income levels and elevating living standards of the consumers is further bolstering the market growth. Moreover, numerous key players are introducing rich fragrances with natural ingredients such as oud, musk, amber, and exotic flowers to expand their consumer base. Various other factors, including easy product availability on online retail channels, aggressive promotional activities on social media platforms, and a growing working women population, are anticipated to further drive the global perfume market in the coming years. Looking forward, IMARC Group expects the perfume market to reach US$ 47.6 Billion by 2027, exhibiting a CAGR of 6.1% during 2022-2027.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally, and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- Avon Products Inc.
- Natura Cosméticos SA
- Chanel SA
- Coty Inc.
- L’Oréal SA.
Breakup by Perfume Type:
- Premium Perfume Products
- Mass Perfume Products
Breakup by Category:
- Female Fragrances
- Male Fragrances
- Unisex Fragrances
Breakup by Distribution Channel:
- Speciality stores
- Departmental stores
- Online stores
- Hypermarkets & supermarkets
- United States
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and novel processing methods are at the top of the company’s expertise.
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