Perfume Market Report 2020: Industry Trends, Size, Share, Growth, Analysis and Forecast till 2025 – IMARC Group

Perfume Market Report 2020: Industry Trends, Size, Share, Growth, Analysis and Forecast till 2025 - IMARC Group

Global Perfume Market Growth Catalyzed by Growing Popularity of Personalized Products – IMARC Group
The global perfume market is driven by the growing preference for personal grooming among users, along with the increasing adoption of luxury perfumes.

According to IMARC Group’s recently published report titled “Perfume Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025“, the market value is projected to reach US$ 49.4 Billion by 2025, at a projected CAGR of 3.4% over the forecast period., according to the latest report by IMARC Group.

A perfume is a fragrant liquid that is prepared by combining various essential oils, fixatives and solvents to provide a pleasant smell. It is also manufactured using spices, woods, flowers, fruits, leaves, roots, balsams, gums and animal secretions. It signifies the personality, style and individuality of the user. A good perfume can influence the mood, behavior, and emotions of an individual.

Global Perfume Market Trends:

The growing trend of personal grooming represents one of the major factors, which is escalating the demand for premium and exotic perfumes across the globe. Apart from this, several key players in the industry are offering innovative fragrances that are produced from organic substances to expand their existing consumer base. They are also investing in creative promotional campaigns to boost their sales. Some of the factors bolstering the market growth are rapid urbanization, changing lifestyles, rising population, inflating income levels and increasing influence of social media.

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Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Market Summary:

On the basis of the type, the market has been bifurcated into premium and mass perfume products, wherein the premium perfume products represent the most popular segment.

Based on categories, female fragrances exhibit a clear dominance in the market. Other major categories include male and unisex fragrances.

On the basis of distribution channels, the market has been divided into specialty stores, departmental stores, online stores, hypermarkets and supermarkets, and others. Amongst these, specialty stores account for the majority of the total market share.

On the geographical front, Brazil holds the leading position in the market. Some of the other key regions include the United States, France, Germany and Russia.

The competitive landscape of the market has been examined in the report with the detailed profiles of the key players. Some of these players include Avon Products, Inc. (AVP), NATURA COSMÉTICOS S/A (NYSE: NTCO), Chanel S.A., Coty Inc., LVMH Group and L’Oréal S.A.

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