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Perfume Market Trends

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

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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.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The perfume industry was valued at USD 58 billion in 2023 and is anticipated to register a 6% CAGR between 2024 and 2032 with consumers becoming more conscious of personal grooming and hygiene

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

Europe perfume market is expected to grow at a 6.2% CAGR from 2024-2032 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.

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