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Perfume Market - By Product Type (Parfum or De Parfum, Eau De Pa rfum (EDP), Eau De Toilette (EDT), Eau De Cologne (EDC) and Other (Eau Fraiche, Perfume Oil)), By Scent Profile, By Consumer Group, By Price, By Distribution Channel & Forecast 2024 – 2032

Report ID: GMI5454
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Published Date: September 2024
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Report Format: PDF

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Perfume Market Size

Perfume Market size was valued at USD 58 billion in 2023 and is anticipated to register a CAGR of 6% between 2024 and 2032. As consumers become more conscious of personal grooming and hygiene, perfumes have increasingly become an essential component of daily routines.
 

Perfume Market

This growing awareness spans across all demographics, with a notable concentration in urban areas where self-presentation is a priority. Perfumes are no longer considered a luxury reserved for special occasions; instead, they are now seen as a daily necessity for enhancing personal appeal and confidence. This shift reflects a broader cultural emphasis on self-care, which is driving the demand for fragrances across diverse consumer groups.
 

Additionally, there is a strong trend toward premiumization in the perfume market, as consumers seek out high-end, niche fragrances that offer unique scents and exclusive branding. This demand is driven by the desire for individuality and personalized experiences, as people look for fragrances that reflect their identity and style. The increase in disposable incomes, particularly in emerging markets such as Asia-Pacific and Latin America, further accelerates this trend. As the middle class in these regions continues to grow, consumers are willing to spend more on luxury personal care products, including perfumes, fueling the expansion of the market.
 

Celebrity endorsements and social media influencers are increasingly impacting consumer purchasing decisions, making these strategies popular among leading manufacturers. Many companies are focusing on and investing in these promotional tactics, alongside leveraging technology to enhance consumer engagement and broaden their reach. For example, L'Oréal Groupe developed a tool called "Cockpit," designed to monitor the real-time ROI and effectiveness of its media investments. This technology supports more informed decision-making and helps shape performance strategies. These advancements have enabled companies to better understand product performance, tailor offerings to customer needs, and drive growth in the global market.
 

The proliferation of counterfeit perfumes is a growing concern in the industry, as these fake products undermine brand reputation and result in significant revenue losses for legitimate manufacturers. Counterfeit perfumes, often sold at lower prices, can damage consumer trust due to their inferior quality and potential health risks. The rise of e-commerce platforms has further exacerbated this issue, making it easier for counterfeiters to distribute fake goods online. This challenge requires brands to invest in anti-counterfeiting measures and consumer education to protect their reputation and maintain market integrity.
 

Perfume Market Trends

Consumers are increasingly gravitating towards personalized fragrance experiences, driven by a desire for unique and individualistic products. In response, brands are introducing customizable options that allow people to craft bespoke scents tailored to their personal tastes. This trend reflects a broader shift towards personalization in consumer products, with fragrance companies innovating to offer bespoke solutions that cater to individual preferences and enhance the overall sensory experience. For instance, Jo Malone stores, owned by Lauder, provide fragrance consultations, allowing shoppers to create personalized products.

 

Perfume Market Analysis

Perfume Market Size, By Product, 2021 - 2032 (USD Billion)

Based on Product Type, the market is segmented into parfum or De Parfum, Eau De Parfum (EDP), Eau De Toilette (EDT), Eau De Cologne (EDC) and Other (Eau Fraiche, Perfume Oil). The Eau De Parfum (EDP)segment dominated the market in 2023, generating a revenue of USD 13.8 billion, and is expected to grow at a CAGR of 5% during the forecast period from 2024-2032. This dominance can be attributed to the EDP's balance of concentration and longevity, offering a compelling blend of intensity and lasting power that appeals to consumers seeking both value and high-quality fragrance experiences. Unlike Eau De Toilette (EDT) or Eau De Cologne (EDC), which are lighter and less enduring, EDPs provide a richer and more potent scent that remains prominent throughout the day. This makes them particularly popular among consumers who prioritize longer-lasting and more impactful fragrances.
 

Perfume Market Revenue Share, By Distribution Channel, (2023)

Based on Distribution Channel, the perfume market is classified into online and offline. The Offline segment distribution channel dominated the market in 2023, acquiring a market share of 73% and is expected to grow at a CAGR of 3.7% during the forecast period from 2024-2032. Consumers favor this channel for their purchases due to the broad selection of products and the ability to review detailed product information before buying. The offline segment benefits from specialty stores that provide premium offerings, and the design of supermarkets along with promotional efforts by major brands have further boosted sales in these outlets. Additionally, the expansion of organized retail sectors has supported the segment's growth by offering ample space and visibility for established brands to present their products.
 

Europe Perfume Market Size, 2021 - 2032 (USD Billion)

Europe dominated the perfume market generating a revenue of USD 18.6 billion of market share in 2023 and is expected to grow at a CAGR of 6.2% during the forecast period from 2024-2032. The growth can be attributed to robust sales of premium products from brands like Jil Sander and Calvin Klein, coupled with new product launches from other labels, such as Hugo Boss. France, known for its numerous prominent fragrance brands like Christian Dior, Chanel, and Guerlain, has significantly influenced the European market with its high production and export values. Looking ahead, the Asia Pacific region is projected to be the fastest-growing market during the forecast period.
 

U.S dominated the North America perfume market in 2023, acquiring a market share of around 86% and is expected to grow during the forecast period from 2024-2032 due to its strong consumer base, high disposable incomes, and a well-established retail infrastructure. The country's preference for premium and luxury fragrances, coupled with a robust presence of leading fragrance brands and extensive marketing efforts, has solidified its dominance.
 

China dominated the Asia Pacific perfume market in 2023 acquiring a market share of around 36% and is expected to grow during the forecast period from 2024-2032 due to its rapidly growing middle class, increasing disposable incomes, and evolving consumer preferences towards luxury and premium fragrances. The expansion of both offline and online retail channels has further supported this dominance, providing consumers with broader access to a variety of fragrance options.
 

Perfume Market Share

Perfume Market Share Analysis, 2023

The market, with prominent players, such as Shiseido Company Limited, Revlon, Estée Lauder Companies and CHANEL, holds a market share of ~15%. Manufacturers are adopting strategic steps, such as mergers, acquisitions, partnerships, and collaborations, to meet the growing consumer demand and consolidate their position in the market.
 

Perfume Market Companies

Major players operating in the perfume industry include:

  • Avon Company
  • CHANEL
  • Coty Inc.
  • Estée Lauder Companies
  • Givaudan
  • Hermès
  • KERING
  • LVMH Moet Hennessy-Louis Vuitton
  • Puig
  • Revlon
  • Shiseido Company Limited.
     

Perfume Industry News

  • In July 2024, Spanish luxury fashion house Loewe has introduced two new fragrances: the latest editions of Loewe 7, initially launched in 2010, and Loewe Earth, which debuted in 2022. Both LOEWE 7 Elixir and LOEWE Earth Elixir enhance the original compositions with a richer, more pronounced concentration of essential oils.
     
  • In June 2024, Dior has unveiled its first alcohol-free solid perfumes under the Miss Dior franchise. The fragrance cases feature a hand-woven houndstooth jacquard pattern.
     

The perfume market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) and volume (Million Units) from 2021 to 2032, for the following segments:

Market, By Product Type

  • Parfum or De Parfum
  • Eau De Parfum (EDP)
  • Eau De Toilette (EDT)
  • Eau De Cologne (EDC)
  • Other (Eau Fraiche, Perfume Oil)

Market, By Scent Profile

  • Floral
  • Oriental
  • Woody
  • Fresh
  • Others (Gourmand, Fruity)

Market, By Consumer Group

  • Men
  • Women
  • Unisex

Market, By Price

  • Low
  • Medium
  • High

Market, By Distribution Channel

  • Online
    • E-commerce Platforms
    • Company Website
  • Offline
    • Department Stores/ Specialty Stores
    • Supermarkets/Hypermarkets
    • Pharmacies/Drugstores

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Malaysia
    • Indonesia 
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • Saudi Arabia
    • UAE
    • South Africa

 

Authors: Avinash Singh, Sunita Singh
Frequently Asked Question(FAQ) :
Why is the preference for eau de parfum rising?
The eau de parfum (EDP) product type segment in the perfume industry is expected to grow at a 5% CAGR from 2024-2032 attributed to the balance of concentration and longevity
Who are the major perfume industry participants?
What is the Europe perfume industry worth?
What is the size of the perfume market?
Perfume Market Scope
  • Perfume Market Size
  • Perfume Market Trends
  • Perfume Market Analysis
  • Perfume Market Share

Report Content

Chapter 1   Methodology & Scope

1.1    Market scope & definition

1.2    Base estimates & calculations

1.3    Forecast parameters

1.4    Data sources

1.4.1    Primary

1.4.2    Secondary

1.4.2.1    Paid sources

1.4.2.2    Public sources

Chapter 2   Executive Summary

2.1    Industry 3600 synopsis, 2021 - 2032

Chapter 3   Industry Insights

3.1    Industry ecosystem analysis

3.1.1    Factors affecting the value chain

3.1.2    Profit margin analysis

3.1.3    Disruptions

3.1.4    Future outlook

3.1.5    Manufacturers

3.1.6    Distributors

3.1.7    Retailers

3.2    Impact forces

3.2.1    Growth drivers

3.2.1.1    Increasing awareness of personal grooming

3.2.1.2    Rising disposable income and consumer spending

3.2.1.3    Celebrity and influencer endorsements

3.2.2    Industry pitfalls & challenges

3.2.2.1    Counterfeit products

3.2.2.2    Changing consumer preferences

3.3    Technology & innovation landscape

3.4    Consumer buying behavior analysis

3.4.1    Demographic trends

3.4.2    Factors affecting buying decision

3.4.3    Consumer product adoption

3.4.4    Preferred distribution channel

3.5    Growth potential analysis

3.6    Regulatory landscape

3.7    Pricing analysis

3.8    Porter’s analysis

3.9    PESTEL analysis

Chapter 4   Competitive Landscape, 2023

4.1    Introduction

4.2    Company market share analysis

4.3    Competitive positioning matrix

4.4    Strategic outlook matrix

Chapter 5   Market Estimates & Forecast, By Product Type, 2021 – 2032, (USD Billion) (Million Units)

5.1    Key trends

5.2    Parfum or De Parfum

5.3    Eau De Parfum (EDP)

5.4    Eau De Toilette (EDT)

5.5    Eau De Cologne (EDC)

5.6    Other (Eau Fraiche, Perfume Oil)

Chapter 6   Market Estimates & Forecast, By Scent Profile, 2021 – 2032, (USD Billion) (Thousand Units)

6.1    Key trends

6.2    Floral

6.3    Oriental

6.4    Woody

6.5    Fresh

6.6    Others (Gourmand, Fruity etc.)

Chapter 7   Market Estimates & Forecast, By Consumer Group, 2021 – 2032, (USD Billion) (Thousand Units)

7.1    Key trends

7.2    Men

7.3    Women

7.4    Unisex

Chapter 8   Market Estimates & Forecast, By Price, 2021 – 2032, (USD Billion) (Thousand Units)

8.1    Key trends

8.2    Low

8.3    Medium

8.4    High

Chapter 9   Market Estimates & Forecast, By Distribution Channel, 2021 – 2032, (USD Billion) (Thousand Units)

9.1    Key trends

9.2    Online

9.2.1    E-commerce Platforms

9.2.2    Company Website

9.3    Offline

9.3.1    Department Stores/ Specialty Stores

9.3.2    Supermarkets/Hypermarkets

9.3.3    Pharmacies/Drugstores

Chapter 10   Market Estimates & Forecast, By Region, 2021 – 2032, (USD Billion) (Million Units)

10.1    Key trends

10.2    North America

10.2.1   U.S.

10.2.2   Canada

10.3    Europe

10.3.1   Germany

10.3.2   UK

10.3.3   France

10.3.4   Italy

10.3.5   Spain

10.4    Asia Pacific

10.4.1   China

10.4.2   India

10.4.3   Japan

10.4.4   South Korea

10.4.5   Australia

10.4.6   Malaysia

10.4.7   Indonesia

10.5    Latin America

10.5.1   Brazil

10.5.2   Mexico

10.6    MEA

10.6.1   Saudi Arabia

10.6.2   UAE

10.6.3   South Africa

Chapter 11   Company Profiles (Business Overview, Financial Data, Product Landscape, Strategic Outlook, SWOT Analysis)

11.1    Avon Company

11.2    CHANEL

11.3    Coty Inc.

11.4    Estée Lauder Companies

11.5    Givaudan

11.6    Hermès

11.7    KERING

11.8    L'Oréal Groupe

11.9    LVMH Moet Hennessy-Louis Vuitton

11.10    Puig

11.11    Revlon

11.12    Shiseido Company, Ltd.

   

Authors: Avinash Singh, Sunita Singh
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Premium Report Details

Base Year: 2023

Companies covered: 12

Tables & Figures: 50

Countries covered: 19

Pages: 135

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