Global Perfume Market By Product Type, By Group of Consumers, By Categories, By Distribution Channel, By Region And Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends And Forecast 2019-2028

Perfumes and fragrances have seamlessly improved personal beauty habits and have become important products in everyday life. Perfume is a combination of aromatic compounds and essential oils which improves the body odor. These products are also used to show personality, personal elegance, and confidence. Consumers prefer fragrance and perfume products to luxury items such as handbags or shoes because they are more affordable. Fragrances are composed of fragrances or essential oils to provide a pleasant scent. Some common natural ingredients used in the production of perfumes include spices, wood, flowers, grass, fruits, resins, leaves, roots, balms, gums, and animal secretions. Perfume expresses a person's style, personality, and personality. A good smell affects mood, behavior, perception, emotion, and human thought. Today, perfume production has become a mainstream business in the personal care and cosmetics industries.

Due to the inclination of consumers towards personal beauty and higher demand for youth-oriented perfumes and exotic perfumes, the global perfume market is receiving attention. In addition, manufacturers' product diversification is attracting a larger consumer base. In addition, due to the increase in income and living standards, consumer spending on luxury perfumes has increased, further promoting the sales of perfumes. Other major factors driving global perfume demand are the rapid urbanization, growing population, and aggressive advertising by manufacturers. However, the availability of counterfeit products represents one of the major challenges facing the market.

Customization in fragrance, natural and environmentally friendly perfumes are some of the latest trends in the global perfume and perfume market. Population youth population, changing lifestyle, and increasing awareness regarding beauty products are some of the factors driving the global perfume and fragrance market. The popularity of various premium brands is growing rapidly among consumers. Increasing disposable income and increased spending on luxury goods are driving growth in the global perfume and fragrance market. However, use of chemicals that may have side effects, as well as fake cosmetics and toiletries, will hinder the growth of the global perfume and fragrance market over the forecast period.

Request Covid - 19 Impact

The increasing influence of social media and celebrity endorsements is affecting the advertising strategies adopted by major market players. For example, L'Oreal developing a tool called a voiceover cockpit that measures the return on investment and productivity of its media investment in real-time. L'Oréal spent $ 9.16 billion on advertising and promotions in 2017, a 4.91% increase between 2014 and 2017.

Perfumes and fragrances have played an important role in the growth of luxurious brands, mostly in China. The market is driven by emerging middle-class customers and millennials pursuing high-end lifestyles. The high-end women's perfume industry is expected to grow over the forecast period. With the launch of perfumes with synthetic ingredients, but other products are also facing fierce competition. The synthetic perfume sector occupies a significant market share. Geographically, the global perfume and perfume market is subdivided into North America, Europe, Asia Pacific, the Middle East and Africa, and South America. Due to economic growth and growth in sales of quality products, North America is expected to dominate the market during the forecast period.

The global perfume market can be segmented on product type, group of consumers, categories and distribution channel:

Based on the Product Type, it can be classified into:

• Parfum or de Parfum
• Eau de Parfum (EDP)
• Eau de Toilette (EDT)
• Eau de Cologne (EDC)
• Other Product Types

Based on the Group of Consumers, it can be further classified into:

• Men
• Women
• Unisex

Based on Categories, it can be classified as:

• Natural
• Synthetic

Based on the Distribution Channel, it can be further classified into:

• Hypermarkets/Supermarkets
• Retailers
• Online Stores
• Convenience Stores
• Other Distribution Channels

Key Players in the market are:

• Gucci
• Elizabeth Arden Inc.
• Chanel S.A
• L’Oreal S.A.
• Cosméticos SA
• Avon Products Inc.
• Michael Kors
• Marc Jacobs