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Report Overview
The global perfume market reached approximately USD 48.42 Billion in 2023. The market is projected to grow at a CAGR of 5.50% between 2024 and 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- Globalisation has broadened consumer exposure to diverse cultures, leading to appreciation for fragrances that incorporate regional and traditional ingredients.
- The market is supported by personalised solutions offered by leading brands, enabling a wider clientele base.
- Eco-consciousness is driving the demand for sustainable and ethically sourced ingredients, as well as eco-friendly packaging solutions.
Perfume Market Trends
Innovations in perfume packaging design have become a pivotal element in the fragrance sector. Innovative packaging design allows a perfume brand to stand out on crowded retail shelves and online marketplaces. A distinctive bottle shape, cap design, or packaging material can become synonymous with the brand, helping to build a strong and recognisable identity. Moreover, with growing environmental awareness, there is a significant shift towards using sustainable materials in perfume packaging, such as the incorporation of biodegradable, recycled, or recyclable materials over traditional plastics.
The market players are collaborating to leverage mutual strengths, expand product offerings, and tap into new markets. The collaboration announced in February 2024 between Coty, a prominent player in the beauty and fragrance sector, and Etro, an esteemed Italian luxury fashion brand, marks a strategic alliance aimed at leveraging Coty's extensive experience and global distribution network in the beauty sector to create and widely distribute Etro's signature fragrance lines.
Perfume Market Report Snapshots
Perfume Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market reached a value of USD 48.42 Billion in 2023.
The market is estimated to grow at a CAGR of 5.50% in the forecast period of 2024 and 2032.
The increasing brand awareness, rising disposable income, increasing necessity of perfumes in daily lives, rising number of working women, and emergence of unisex perfume brands, are the major drivers of the market.
The key trends in the perfume market include the growing research and development activities by the market players to innovate fragrances and enhance the quality of packaging, thriving e-commerce sector, and rising investment towards social media marketing.
Parfum, Eau De Cologne (EDC), Eau De Parfum (EDP), and Eau De Toilette (EDT) are the different types included in the market report.
Premium product and mass product are the segments of market based on product.
Men and women are the different end-users included in the market report.
The major players in the market are LVMH Moët Hennessy - Louis Vuitton, The Estée Lauder Companies Inc, L'Oréal S.A., Shiseido Co., Ltd., Beiersdorf AG, Amorepacific Corporation, Calvin Klein Inc., Guccio Gucci S.p.A., Giorgio Armani S.p.A., Coty Inc., Yardley London, and Revlon Consumer Products Corporation, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124