Perfume Market Status (2020 to2026) Industry Research, Size, Share, Growth Outlook and Top Manufacturers Analysis

The Global Perfume Market Size is expected to gain momentum backed by increasing preference for premium products across the globe. Fortune Business Insights, in its latest report, titled “Perfume Market Size, Share & Industry Analysis, By Type (Extrait de Parfum, Eau de Perfume, Eau de Toilette, Eau de Cologne, and Eau Fraiche), Product (Mass and Premium), End-User (Men and Women), Distribution Channel (Online and Offline), and Regional Forecasts, 2019–2026.”, observes that the market is likely to hit USD 56.98 billion by 2026 while exhibiting a CAGR of 4.8% between 2019 and 2026. The report further mentions that the market was worth USD 39.40 billion in 2019.

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The perfume contains essential fragrant oils and aromatic compounds that live a particular scent when applied on the human body. It is mostly found in a liquid form and used to render a pleasant smell when applied. The perfume oils are mainly diluted with a solvent such as rectified spirit, or Perfume. The most common practice of applying a perfume is at the insides of the wrists, behind the ears, and across the nape of the neck. Innovations in the production of aromatic products have been witnessed owing to technological advancements in design and synthesis.

What does the Report Include?

The market report includes a detailed assessment of the various market drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. The report provides comprehensive research into the regional developments of the market, affecting the market growth during the forecast period. In addition to this, the report includes information sourced from the advice of expert professionals from the industry by our research analyst using several research methodologies for the market. The competitive landscape offers further detailed insights into the strategies such as introduction of new products, partnerships, merger and acquisition, and collaboration adopted by the companies to maintain market stronghold between 2019 and 2026.

A Brief Overview of the Global Perfume Market:-

•Perfume Market industry report provides pinpoints analysis of global & regional key drivers.

•Manufacturers & Stakeholders anticipate overall information about niche segments, share and size.

•Growing factors differentiating the role of these segments with revenue forecasts.

•Industry research helps in understanding the key product, sales, size, revenue, trend and future scope.

•A complete picture of the competitive scenario, dynamic growth and global opportunity analysis is depicted by this report.

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DRIVING FACTORS

High Demand for Premium Products to Bolster Growth

Increasing disposable incomes of the working population and increasing demand for cosmetics is driving the demand for premium perfume products. The emergence of ecommerce is facilitating the purchase of premium products at reasonable rates owing to the increasing promotional activities and attractive discounts offered by the companies. For instance, according to the United Nations Conference on Trade and Development (UNCTAD), 1.3 billion people preferred online shopping in 2019. The increasing demand for premium products along with increasing online purchase is anticipated to contribute to the global perfume market growth during the forecast period.

REGIONAL INSIGHTS

High Disposable Incomes in Asia-Pacific to Augur Growth

Among all regions, the market in Asia-Pacific is likely to witness significant growth and register highest global perfume market revenue during the forecast period. This is attributable to factors such as high disposable incomes of the working population and younger generation inclined towards premium perfume products. In addition to this, major companies such as Unilever and L’Oreal launching new products in the region will bode well for market growth. North America, on the other hand, is anticipated to witness steady growth in the forthcoming years. This is attributable to factors such as growing economy and high demand for premium products.

List of the Companies Operating in the Market:

L’Oréal
Unilever
Coty
Procter & Gamble
Estee Lauder
Natura Cosméticos SA
Avon Products Inc.
Puig SL
Elizabeth Arden, Inc.
Chanel SA
Beiersdorf
J&J

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COMPETITIVE LANDSCAPE:

Puig Announces its Acquisition of Charlotte Tilbury:

In June 2020, Puig, a Spanish perfume company, announced its acquisition of Charlotte Tilbury, a celebrity makeup brand. According to the official statement, Puig is set to acquire a majority of stake in the private label. According to Fortune Business Insights, the market comprises of several companies striving to gain major global perfume market share by adopting strategies such as merger and acquisition, partnership, collaborations, and introduction of new products.

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