Fragrance Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

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Fragrance Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

Status : November, 2020 | Consumer Goods | PPT format

Report Digest


Global Fragrance Market: Overview

The emerging trend of personal grooming has paved way for the advent of luxury and exotic fragrances, which is forecasted to encourage development of the global fragrance market over the period of assessment, from 2019 to 2029. In addition to that, a rise in the disposable income of the people together with the inclination to spend in premium fragrance products is foreseen to work in favor of the global fragrance market over the tenure of analysis, from 2019 to 2029.

In the last few years, fragrances have emerged as a significant business sector in the personal care and cosmetics industry. Growing popularity of personal care widens the scope of use of fragrances.

Product, application, distribution channel, and region are the four key parameters based on which the global fragrance market has been divided. The objective of such segmentation is to offer a clearer, 360-degree view of the market.

Global Fragrance Market: Notable Developments

The global fragrance market has come across some major developments over the last few years. One of such developments that have played an important role in influencing the course of the market is mentioned below:

  • In March 2019, JO Malone London, a subsidiary of Estée Lauder Companies, has launched a set of brand new perfumes in the market. Utilizing the banner ‘Wild Flowers & Weeds, these new perfumes were launched with five different fragrances. These different fragrances are Nettle and Wild Achillea, Willow and Amber, Lupin and Patchouli, Hemlock and Bergamot, and Cade and Cedarwood. These exotic fragrances are expected to draw the attention of the lovers of perfumes and add to the sales of these perfumes.

Some of the key players in the global fragrance market comprise the below-mentioned:

  • Louis Vuitton Moet Hennessy
  • Natura Cosmticos SA
  • Avon Products Inc.
  • Estée Lauder Companies
  • Elizabeth Arden, Inc.
  • L’Oreal Groupe

Global Fragrances Market: Key Trends

The following drivers, restraints, and opportunities characterize global fragrance market over the assessment period, from 2019 to 2027.

Increased Preferences for Luxury Perfumes to Bolster Demand in the Market  

Rapidly evolving preference of consumers toward personal care and grooming products is estimated to support growth of the global fragrance market in the years to come. Fragrances are utilized across several applications, such as cosmetics, toiletries, detergents, soaps, and household products. Such wide use of the product is estimated to fuel growth of the global fragrance market over the forecast period. Augmented demand for fragrant products amongst both women and men is expected to amplify growth opportunities for the global fragrance market in the years to come.

Fragrance manufacturers are striving to attract customers, both existing and prospective, through product development. Product with exotic, new aromas for both household and cosmetic purposes are gaining popularity rapidly, thereby driving the demand for fragrances in the near future.

Global Fragrances Market: Geographical Analysis

Over the period, Europe is foreseen to dominate the global fragrance market due to a rich history of evolution and invention of fragrances across region. Region is the birthplace of several renowned fragrances and fragrance companies, such as Nina Ricci, Chanel, Christian Dior, and Guerlain in the region is likely to support development of the fragrance market in Europe.

Asia Pacific is expected to present immense growth opportunities for the fragrance market in the years to come, thanks to the growing preference toward luxury perfume brands and rising disposable income in the region.

The global fragrance market is segmented as:

Product

  • Deodorants
  • Perfumes

Application

  • Personal Care
  • Household Care

Distribution Channel

  • Offline
  • Online

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

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

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?