Perfume Market Growth, Analysis Report, Share, Trends and Overview 2022-2031

As per newly released data by Future Market Insights (FMI), demand in the global perfume market is projected to grow at a 4% CAGR over the assessment period, reaching a market valuation of US$ 35 Bn in 2021.

Attribute	Details
Perfume Market Estimated Size 2021	US$ 35 Bn
Value CAGR (2021-2031)	4%
2020-2021 Year-Over-Year Growth	3%
Perfume Market Top Players Share in 2021.	15%-20%

Consumer desire for natural chemicals in perfumes that have a distinctive and calming aroma is shifting, which is stimulating product advancements by producers and boosting market growth.

More people are aware of the potential ill effects brought on by the unidentified chemical used in perfumes as a result of rapid urbanisation and rising smartphone adoption. Additionally, the increasing use of perfumes by senior citizens is pushing producers to use all-natural, fragrant components.

The demand for renewable materials in the production of perfume is being fueled by the aforementioned considerations. In order to improve the quality of the spray and meet the demand from environmentally and health-conscious consumers, players are also starting to incorporate natural chemicals based on microbes in perfumes.

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Key Takeaways:

• Based on the product type, sales of Eau Fraiche are expected to increase at a 4% CAGR over the forecast period.
• In terms of nature, demand for natural perfumes is projected to surge at a 5% CAGR.
• Sales of unisex perfumes are expected to grow at a 3% CAGR through 2031.
• Based on sales channels, the online retailing segment is projected to expand at a 4% CAGR over the forecast period.

Who is winning?

Leading players operating in the perfume market are Estee Lauder Companies Inc., LVMH Moet Hennessey Louis Vuitton, Coty Inc., L’Oréal S.A., Eliabeth Arden Inc., Shiseido Co Ltd., Puig SL., Perfumania Holdings Inc., Avon Products Inc., Hermes International S.A., Natura Cosmetics S.A., Channel S.A., Clarins, Revlon Inc., and Givaudan among others.

As per FMI, top 5 players are projected to account for 15-20% of the total market share.To gain a competitive edge, are investing in promotional strategies marking techniques. For instance:

• In 2020, Sisleys’s signature fragrance Eau du Soir returned, and the company launched their limited edition infused with delicacy and poetry. The unique scent reflects the sky’s glow to pay homage to the chypre floral notes responsible for the success of Eau du Soir.

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Get More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of the global perfume market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031.

The study divulges compelling insights on the perfume market based on the product type (Eau de Parfum, Eau de Toilette, Eau de Cologne, and Eau Fraiche), nature (natural & synthetic), by end-use (men, women, & unisex), sales channel (wholesalers/ distributors, hypermarkets/ supermarkets, specialty stores, multi-brand stores, independent drug stores, online retailers and others), across each of the seven major regions.

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About FMI             

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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