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Recovery in Consumer Spending and Growing Focus on Personal Grooming to Drive Growth in the Global Fragrances and Perfumes Market


Published: March 2018

REPORT STATISTICS


  • Code: MCP-2533
  • Pages: 485
  • Tables: 100
  • Companies: 313


FRAGRANCES AND PERFUMES: A RESEARCH BRIEF

The global market for Fragrances and Perfumes is projected to reach US$56.3 billion by 2024 driven by the almost sacrosanct role of perfumes in personal toilette of both men and women; and growing awareness over the therapeutic effect of scents in influencing emotional and psychological well-being. The market also stands to benefit from effervescent product innovation and launch of exotic new scents, aromas and fragrances; growing popularity of niche and artisan brands; trading up of consumers from mass fragrances to prestige brands; growing demand for organic and natural perfumes and fragrances given their aromatherapy effects; innovative launch of new perfumes with skin and mood enhancers; the rise of the metrosexual male with high propensity to spend on appearance and personality enhancing products; and growing popularity of custom tailored fragrance and bespoke perfumery among women. Besides perfume chemistry, innovations are also focused on delivery of scent in new formats including Kabuki brushes, roll-on oils, sticks, and portable wipes. Perfume longevity is also emerging as an important area of product R&D. The United States and Europe account for more than half of the global market. Asia-Pacific ranks as the fastest growing market with CAGR of 7.1% over the analysis period led by factors such as rising standards of living, changing lifestyle trends and increased per capita spending on aspirational products, improving access to international brands; large base of young affluent population; rising number of high net-worth individuals and a parallel increase in sales of luxury and prestige brands; and availability of perfumes in smaller vials offered at affordable price points. 

COMPANY AND INDUSTRY NEWS & STORIES

  • Inter Parfums Signs Exclusive License Agreement with GUESS in a Move to Create, Develop and Distribute Fragrances under the GUESS Brand
  • With the Aim to Expand Presence in the Core Business, Givaudan Plans to Acquire Expressions Parfumées
  • In a Move to Strengthen its Formidable Presence in the Fragrance Market, Firmenich Plans to Acquire Agilex Fragrances
  • Designer Parfums Enters into Fragrance Partnership with Jennifer Lopez, Inline with its Business Growth Strategy
  • Coty Signs Strategic Partnership with Burberry, in a Move to Acquire Exclusive Long-term Rights for Burberry Beauty Luxury Fragrances, Cosmetics and Skincare

OUTLOOK IN KEY MARKET SEGMENTS

  • Women’s Fragrances & Perfumes is projected to be the largest market supported by product developments and diversifications.
  • Men’s Fragrances & Perfumes ranks as the fastest growing market driven by increasing spending on toiletries and cosmetics by men.

PRODUCT DEFINITION & SCOPE

  • Fragrances and Perfumes refer to the combination of aromatic compounds, solvents and fixatives used to impart scent to the human body. The compounds used to manufacture perfumes can either be synthetically produced or derived from animal or plant sources. Generally, fragrance ingredients in addition to plants and flower extracts also contain duplications of natural fragrances and synthetic innovations. About 50-90% of the fragrance/perfume is composed of ethyl alcohol, 5-20% of purified water, while fragrance accounts for 5-30% together with UV inhibitors and coloring agents.

TIMELINE FOR ANALYSIS

  • Market Estimates and Forecasts for 2016-2024
  • Historic Review 2011-2015

GEOGRAPHIC MARKETS ANALYZED

  • US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (Australia, China, India and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil, Mexico and Rest of Latin America)

MARKET SEGMENTATION & CLASSIFICATION

  • Segments:
    • Women’s Fragrances & Perfumes, Men’s Fragrances & Perfumes, and Unisex Fragrances

MAJOR PLAYERS

  • Avon Products, Inc.
  • Burberry Group Plc
  • Bulgari Parfums
  • Cartier Perfumes and Colognes
  • Chanel SA
  • Clarins Fragrance Group

KEY RESEARCH DELIVERABLES

  • Review of Industry/Market Structure
  • Analysis of Trends & Drivers
  • Insights on Macro Market Scenarios
  • Market SWOT Analysis
  • Latent Demand Forecasts & Projections
  • Comprehensive Geographic Market Analysis
  • Presentation Ready Facts & Statistical Data Findings
  • Coverage of Major/Niche Players, Market Shares & Competition
  • Coverage of major Company/Technology/Product/Financial Stories
  • Extensive Product/Service/End-Use/Technology Coverage Where Applicable







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