Gourmand Fragrance Market Trends, Key Driven Factors, Region-wise Outlook, Segmentation And Forecast To 2021-2028

Urbanization is Driving the Global Gourmand Fragrances Market

Gourmand fragrances are genuinely tempting and appealing, equipped with enticing essential oils and aromatic compounds. The applications of gourmand fragrances for those having a sweet tooth prompts a nirvana-like state in the consumers. Driven by continually-rising customer demand for air travel, travel retail has appeared as a reliable distribution channel for luxurious fragrances like gourmand fragrances in the past few years. The gourmand fragrance trend has gradually increased in popularity since 1992. In 1992, Thierry Mugler’s company MUGLER launched its first gourmand fragrance “Angel”; it was credited as the first modern Gourmand scent. “Angel” along with its companion scent Alien accounted for $280 Mn in annual sales which set the tone of the gourmand fragrance market. Furthermore, advancing technology is empowering the customization of fragrances, diverging custom blending from a luxury to a mainstream service. Going forward, the market is expected to see continuing sales growth in smaller fragrance products.

Global Gourmand Fragrance Market: Key Players

Some of the key players operating in the global gourmand fragrance market are INITIO Parfums Prives Perfumes and Colognes, Yves Saint Laurent Beauté, Dior, Lancome, MUGLER, Guerlain, CARNER BARCELONA S.L., Serge Lutens, Tom Ford, Xerjoff Lira, Acqua di Parma, Viktor&Rolf, Maison Francis Kurkdjian, Maison Margiela, Lolita Lempicka, KILIAN, Elie Saab, Kat Von D, Commodity, Prada, Marc Jacobs among others.

The global gourmand fragrance market has evolved on the framework of new products inventions, launching new products, the emergence of the small-scale players in the market creating a fuss about the benefits of gourmand fragrances through advertising activities and programs are some of the significant drivers reinforcing the growth of the gourmand fragrance market.

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Key Developments:

In 2016, the online sales of Fragrances in U.K observed a raise of 20%. Total sales recorded in 2016 was £162 million, according to the NPD Group. Amazon is one of the internet giants, a growing seller of fragrances, including cosmetics. Also, in 2016, Prada, a key player in the gourmand fragrance market extended their extended the Prada Candy perfume range with new Prada Candy Sugar Pop eau de toilette Candy Kiss had musk as its hero ingredient. The packaging box featured a kiss motif inspired by the iconic Prada lip print. Owing to this product launch the company strengthened their grip in the gourmand fragrance market.

Opportunities for Market Participants in the Gourmand Fragrance market

The divergence of volume and value growth of the gourmand fragrance market grew robust over the past few years. Thanks to the redefined niche genre of the market, which saw gourmand fragrances positioned as a piece of investment, cosseting a “less is more” outlook. Many luxury brands are expanding into fragrances as an entry point for consumers. Regionally, consumers of Western Europe as united represent the most valuable gourmand fragrance unit. In individual market terms, the United States trailed by Brazil claimed the accolade of largest fragrance nations. Furthermore, a significant trend recognized in the market is the influence exerted by millennials. Millennials are heavy fragrance customers in many markets. Because of this, brands are trying to win them over by launching new products very often. Tapping into their communication and consumer experience codes. Furthermore, Fragrances are usually more reasonable than luxury goods such as bags or shoes, allowing the vendors to draw into the middle- and lower-income consumer segments, which is assisting the growth of the gourmand fragrance market.

Brief Approach to Research

The analysis will be done on modelling-based approach and triangulation methodology to estimate data covered in this report. A detailed market understanding and assessment of the flavor, application and encapsulation process of the segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data is collected at a regional level, consolidated and synthesized at a global level to estimate the overall market sizes.

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Key Data Points Covered in the Report

Some of the key data points covered in our report include:

• An overview of the gourmand fragrance market, including background and evolution
• Macroeconomic factors affecting the market and its potential
• Market dynamics, such as drivers, challenges and trends
• Detailed value chain analysis of the market
• Cost structure of the products and segments covered in the study
• In-depth pricing analysis, by key product segments, regions and by major market participants
• Analysis of supply and demand, such as top producing and consuming geographies, imports/exports and overall trade scenario
• Analysis of the market structure, including a tier-wise categorization of key market participants
• Competitive landscape of the market, including detailed profiles of the top players in this market

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

The report covers exhaust analysis on:

• Market Segments
• Market Dynamics
• Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies involved
• Technology
• Value Chain

Regional analysis includes:

• North America (U.S., Canada)
• Latin America (Mexico. Brazil)
• Western Europe (Germany, Italy, France, U.K, Spain)
• Eastern Europe (Poland, Russia)
• Asia Pacific (China, India, ASEAN, Australia & New Zealand)
• Japan
• Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.