An Incisive, In-depth Analysis on the Fragrances Market
This study offers a comprehensive, 360 degree analysis on the Fragrances market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Fragrances market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Perfumes are a mixture of essential oils and aroma compounds along with water and/or alcohol and are used to enhance body odour. The perfumes industry has experienced significant product innovations over the last few years. The use of natural and renewable ingredients is getting good traction. Apart from traditional perfume packaging methods, perfumes are now available in the form of travel sprays and rollerballs, which is expected to boost the global perfumes market growth over the forecast period. The global perfumes market is estimated to be valued at US$ 39.67 Bn by 2016 end and is expected to register a CAGR of 5.9% over the forecast period (2016–2026).
Increasing demand for perfumes from the millennial population likely to boost market growth
Increasing usage of perfumes among the young population, increasing online retail penetration, product push strategy by key global players, availability of perfumes in different price ranges, and increasing consumer spending on personal and beauty care products are major factors expected to drive the growth of the global perfumes market over the forecast period. However, availability of counterfeit products and use of harmful chemical ingredients are some of the factors expected to hamper the growth of the global perfumes market over the forecast period.
The global perfumes market is witnessing a growing trend of customised perfumes and the use of renewable ingredients in perfume manufacturing. Global perfume manufacturers are also venturing into the production of microbial based natural perfumes to cater to the increasing health awareness among consumers.
By Product Type
By Distribution Channel
By Ingredient Type
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Eau Fraiche product type segment expected to witness the highest growth over the forecast period
Eau Fraiche segment revenue is expected to register a significant CAGR over the forecast period, which is mainly attributed to the absence of alcohol content in this type of perfume. The latest trend among key players in the perfume industry is to create Eau Fraiche versions of their popular fragrances. The Eau de Parfum segment is estimated to account for the largest market value share of 52.0% by 2016 end.
Unisex Perfume demographics segment expected to project a higher growth rate over the forecast period
The Unisex Perfume segment is projected to exhibit a CAGR of 6.9% over the forecast period. The rise in the number of product launches of unsex perfumes by major players and increasing sales in the APEJ region is anticipated to drive the market in this segment. The Men’s Perfume segment is expected to account for 34.9% value share by 2016 end and is also expected to register a high CAGR owing to the increasing acceptance of beauty products targeting men.
Online Retail distribution channel segment expected to register a significant CAGR over the forecast period
The Online Retail segment is expected to exhibit a CAGR of 7.0% over the forecast period and is anticipated to be the most attractive segment in terms of CAGR. Global players are entering into partnerships with e-commerce players to capitalise on this highly lucrative sales channel. The Physical Retail segment is estimated to account for the highest market share by 2016 end and will continue to dominate the global perfumes market over the forecast period.
Natural ingredient type segment estimated to project a higher growth rate over the forecast period
The Natural segment is estimated to account for 18.9% value share by 2016 end and is expected to exhibit a CAGR of 7.9% over the forecast period. Growing consumer concerns towards the use of synthetic chemicals in perfumes are forcing perfume manufacturers to shift from synthetic to natural ingredients, which in turn fuels the growth of the Natural segment.
MEA, Latin America, and Eastern Europe perfume markets are projected to expand significantly in terms of value and volume
In terms of value, the Western Europe market accounts for the maximum revenue share of the global perfumes market followed by North America. The Western Europe perfumes market is expected to register a CAGR of 3.2% over the forecast period. The APEJ perfumes market is expected to register a significant CAGR of 10.2% over the forecast period, due to an expansion by top market players in the region.
Leading market players are adopting digital marketing strategies to reach a wider customer base
Estee Lauder Companies Inc., LVMH, Coty Inc., L’Oreal International, Elizabeth Arden Inc., Shiseido Co. Ltd., Puig, Perfumania Holdings Inc., Avon Products Inc., and Hermes are some of the top companies operating in the global perfumes market. The beauty and personal care products industry has witnessed major modifications over the past decade, making perfumes a future business perspective for entrepreneurs. Major players manufacturing perfumes are strategically investing in expansion in the Middle East & Africa and Latin America regions, where the per capita perfume consumption is high.
Perfumes, used to enhance body odor, has significantly evolved over the years. Future Market Insights (FMI) estimates a 10-year forecast of global perfumes market for the period 2016-2026. Comprehensive study on this market presents key trends and opportunities to impact the current scenario and shape the future of global perfumes market during the forecast period. The primary objective of the report is to provide critical insights into the developments of global perfumes market.
FMI report on global perfumes market begins with an overview of the market and offers key market dynamics. It includes an in-depth information on various segments and their contribution in the global perfumes market. The report provides a comprehensive analysis on drivers, restraints, opportunities, and trends of the market which impact the growth of global perfumes market. For an extensive understanding, the report analyses year-on-year (Y-o-Y) growth rate, market value, market volume, share, and attractiveness index to predict the growth opportunities of global perfumes market during the forecast period. Furthermore, market performance in terms of revenue split is also included in the report to understand the analysis.
The following section of the report offers key insights into various segments, their sub-segments and categories of the global perfumes market. To assess various opportunities in the global perfumes market, the report analyses five major segments of the market: product type, demographics, distribution channel, ingredient type, and geography which provides a detailed forecast for the next 10 years. Analysis of each segment of global perfumes market includes market share, Basis Point Share (BPS), y-o-y comparison, value, volume, and other important factors. Additionally, regional analysis of the global perfumes market includes North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and Middle East & Africa. The FMI report investigates key drivers, share value, and market attractiveness for every segment in each region to further enhance the market growth.
In the latter section of the report, competitive landscape of the global perfumes market is included that provides the client with dashboard view of key players currently operating in global perfumes market. The primary objective of this section of the report is to offer detailed profiles of perfume companies to evaluate key competitors, their presence, capabilities, developments, and strategies in the global perfumes market.
To calculate the market size, the report considers revenue generation of different manufacturers and across geographies. To arrive at apt market estimates, key data points such as revenue split and regional split by product type, demographics, distribution channel, and ingredient type are incorporated in the report. Top key players, top products, and application of global perfumes market are obtained from an in-depth secondary research. It is followed by a primary research that provides the regional presence of the manufacturers and brand owners of perfumes, further enhanced with dynamics and trends of distributors and industry experts.
To offer an accurate forecast, FMI report analyses the CAGR of the market and its segments, also on the basis of key parameters such as y-o-y growth rate. These factors help in identifying the key opportunities that facilitates the global perfumes market. Analysis in terms of basis point share (BPS) is used to predict the individual segment contribution to the growth of global perfumes market. Furthermore, for better understanding of the competitive landscape of the market SWOT analysis of each key player participating in global perfumes market is included.
Another important feature of the FMI report is analysis of the market segments in terms of absolute dollar opportunity. It is traditionally overlooked in market forecasting but is critical in assessing opportunity level for a provider to achieve and identify capable resources from a sales perspective in the global perfumes market. Additionally, market attractiveness index is included in the report to understand key market segments on the basis of growth and consumption of perfumes.
Fragrances Market Reports - Table of Contents
1. Perfumes Market – Executive Summary
2. Research Methodology
3. Assumptions and Acronyms Used