Mexico Perfume Market Report and Forecast 2024-2032

Mexico Perfume Market Size

The Mexico perfume market reached approximately USD 858.56 million in 2023. The market is projected to grow at a CAGR of 6.60% between 2024 and 2032, reaching a value of around USD 1542.95 million by 2032.

Mexico Perfume Market Outlook

• As per reports, Mexico ranked 18th globally in perfume exports in 2022, while perfumes were the 299th most exported product in the country.

• The demand for native scents and fragrances is increasing due to sustainability commitments and the need to preserve tradition.

• As per industry reports, Mexican women with high employment rate spend heavily in the beauty and perfume sector.

Mexico Perfume Market Growth

The perfume market in Mexico is poised for a significant surge due to growing trend of personal grooming, changing fashion trends, coupled with a drive to preserve authentic Mexican heritage. For instance, in November 2022, Mexican perfume brand, House of Bō, launched the Tesoro collection at Bergdorf Goodman. It comprises three gender-neutral parfums catering to men, women, and unisex end users owing to the cultural shift in the country.

Perfume companies are striving to capture a significant portion of the market and establish their dominance by constantly adapting and blending native scents to create new formulas to boost market expansion. Givaudan Fragrance & Beauty invested USD 82 million in August 2021 to develop its Pedro Escobedo, Mexico, fragrance production facility. With this investment, the company will be better positioned to serve as a strategic partner to its clients in the area and meet the growing demand from consumers for fragrant, eco-friendly perfumes.

Packaging and presentation are a crucial factor in determining the success of a perfume brand. Eau de Toilette of Dolce and Gabbana is a prime example as it has established its position due to its eco-friendly packaging, high-quality ingredients, and affordable price. Several perfume companies are already following the key trends and optimizing social media platforms and e-commerce services to elevate their brand and make themselves stand out in the market.

Mexico Perfume Industry Segmentation

“Mexico Perfume Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Parfum

• Eau De Cologne (EDC)

• Eau De Parfum (EDP)

• Eau De Toilette (EDT)

• Others

Market Breakup by Product Type

• Mass

• Premium

Market Breakup by End User

• Men

• Women

• Unisex

Market Breakup by Distribution Channel

• Offline
  • Supermarkets and Hypermarkets
  • Specialty Stores
  • Convenience Stores 
  • Others
• Online

Market Breakup by Region

• Baja California 

• Northern Mexico 

• The Bajío 

• Central Mexico 

• Pacific Coast 

• Yucatan Peninsula

Mexico Perfume Market Share

Based on type, the mass-produced perfumes account for a larger share of the market due to their affordability as they are cost effective for the general public, with diversified collection offering a vast range of fragrances, and ease of access across the country.

The premium perfumes have carved a niche for themselves in the industry through usage of high-quality materials, elegant and attractive packaging and leveraging social media for brand partnerships and promotion by following the trend of influencer marketing.

Leading Companies in Mexico Perfume Market

Market players are continuously developing new aromas and fragrances to compete in the domestic and global market.

• Natura &Co.

• Estee Lauder Companies Inc.

• Chanel SA

• LVMH Moet Hennessy Louis Vuitton

• Yanbal International

• Shiseido Co.,Ltd.

• Burberry Group PLC

• Dolce & Gabbana S.r.l.

• Kering SA

• PVH Corp.

• Others

Key Highlights of the Report