Perfume manufacturers are becoming more inventive and delivering superior products at reasonable costs. This is likely to rise the diffusion rate of perfumes during the forecast period. The popularity of numerous premium brands is growing rapidly among customers. Use of scented products for household is likely to deliver a growth opportunity for the global perfume market share in coming years.
The perfume market trends 2019 is influenced by unceasingly changing living demands. Because of this reason, manufacturers of perfume are on a continual lookout for unique, exciting and new products to attract the consumers across the globe.
Perfume is basically a mixture of various aroma compounds or essential oils, solvents and fixatives generally used to provide pleasant smell to the human body, objects, food, animals and any living space. They can signify one’s style and personality. A good perfume can influence human mood, thoughts, emotions and behavior of people.
Global Perfume Market: Drivers
- The growing demand of personal grooming with a rising demand for exotic fragrances as well as youth-oriented are the main factors driving the overall growth of global perfume market.
- The growing consumer expenditure on luxury perfumes owing to refining standards of living growing disposable incomes and are boosting the demand for perfumes globally.
- The product expansion by manufacturers, rising urbanization, rising population, aggressive advertising and are other major factors driving the demand for perfumes worldwide.
Key Players: Shiseido, Elizabeth Arden Inc., L’Oreal, Chanel S.A., International Flavors and Fragrances, Estee Lauder, Coty, Avon, Kilian, Vivenza, Symrise AG, Givaudan.
Perfume Market Based on Segmentation:
The global perfume market size is segmented on the basis of type, usage, distribution channel, product, and geography. Based on type, the market is classified into mass products and premium market. Premium market is one of the leading market due to the affordable cost and availability of number of brands.
By usage, this market is segmented by male, female, and unisex perfumes. Among these, unisex perfume segment is expected to raise significantly in coming years, due to the increasing variety of unisex perfume products. Based on product, the global perfume market is segmented into deodorant, roll-on, perfume, and other.
By distribution channel, this market is classified as retail, online, physical retail, departmental stores, and others. Several toiletry and cosmetic industries entering into the e-commerce players to expand the market, therefore the online retail distribution channel is estimated to grow at a significant amount over the forecast period.
By Geography, the global perfume market is categorized as Europe, North America, Asia Pacific, South America, and Middle East & Africa. Among these, North America region is projected to dominate the market over the forecast period owing to major factors such as rising economy and growing in sales of premium products.
Geographically, Brazil region has one of the largest global perfume market. The main role of perfumes in Brazilian culture as a symbol of beauty, personal care and increased self-esteem has driving to the global perfume market growth in the region. It is followed by the Germany, U.S., Russia and France.