Fragrance and perfumes have impeccably altered the personal grooming habits of individuals. Previously perceived as a commodity of the affluent, these have gradually become the essential day-to-day products for the general public. The growth in importance of fragrance and the ever-changing fashion trends fuel the growth in demand for these products.
The fragrance and perfume market is based on usage, type, distribution channel, and geography. By usage, it comprises female, male, and unisex. Based on type, it is divided into perfume, deodorant, and others. On the basis of distribution channel, the market is segmented into specialty retail stores, multi-retail stores, online, and others. By geography, it is studied across North America, Europe, Asia-Pacific, and LAMEA. As per the analysis, premium fragrances continue to witness trouble to attain increased sales due to high prices, particularly for global brands, whose sales figures are expected to register a CAGR of 5% during the forecast period.
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Increase in population coupled with rise in consumer expenditure on personal and beauty care products, growth in awareness about the therapeutic benefits fragrance, and innovative product push strategy by key global players are the major drivers for the global fragrance and perfume market. However, availability of counterfeit products and use of chemical ingredients with probable side-effects are expected to hamper the growth during the forecast period.
Owing to better growth prospect in the fragrance segment, the market is witnessing new entrants, who may not be the manufacturers but sell products under their brand name and split the profit margin with manufacturer. Some of the major companies operating in the global fragrance market are Coty UK, Procter & Gamble Prestige Beaut, Loreal, LVMH, Givaudan, International Flavors & Fragrances, Estee Lauder Beautiful, Kilian, Firmenich, and Symrisee.
- The research study provides an in-depth analysis of the fragrance and perfume market to elucidate the imminent investment pockets.
- Current market trends, regional mobile payments market size, and future estimations are outlined to single out profitable areas.
- The report provides information about key drivers, restraints, and opportunities with a detailed impact analysis.
- Quantitative market analysis from 2014 to 2022 is provided to understand the financial competency.
- Porters Five Forces model of mobile payment industry illustrate the potency of the buyers and suppliers.
- Value chain analysis provides a clear understanding of the roles of stakeholders involved.
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