The Business Research Company’s report on the Perfumes Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How are market drivers shaping the future growth trajectory of the perfumes industry?
Rapid growth in the millennial population is expected to drive the perfume market. Young people tend to spend more than older people on cosmetics to improve their looks and quality of life. In 2023, according to an ESW global voices survey, more than a quarter of millennials plan to spend more money online in categories such as health and beauty, luxury, apparel and footwear, and consumer electronics. By 2025, millennials are expected to constitute nearly three-quarters of the global workforce. As millennials will represent a large part of the global workforce and play a major role in driving the current economy, their preferences and shopping habits will be an important driving factor for the perfume market.
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What is the estimated market size of the perfumes sector by 2029, based on current forecasts?
The perfumes market size has grown rapidly in recent years. It will grow from $96.33 billion in 2024 to $110.71 billion in 2025 at a compound annual growth rate (CAGR) of 14.9%. The growth in the historic period can be attributed to aggressive advertising and promotional activities, strong economic growth in emerging markets and rising disposable income.
The perfumes market size is expected to see rapid growth in the next few years. It will grow to $187.74 billion in 2029 at a compound annual growth rate (CAGR) of 14.1%. The growth in the forecast period can be attributed to global population growth and urbanization and rapid growth in e-commerce. Major trends in the forecast period include new technology development, using artificial intelligence in perfumes production, new product launches, focusing on increased mergers & acquisitions, and developing personalized perfumes.
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#Who are the top players in the perfumes market?
Major companies operating in the perfumes market include LVMH, Givaudan, Shiseido Co. Ltd., Avon Products Inc., L’oréal S.A, PUIG, Revlon Inc., PVH Corp., Elizabeth Arden Inc., Hermes International, Kanha Nature Oils, CKC Fragrances, Deon Pro Corporation, Flavaroma, Ningbo Equator Import & Export Co., Ltd., Guangzhou Phero Perfume Co., Ltd., Shandong Yingyang Flavors & Fragrances Co. Ltd, Firmenich SA, Kao Chemicals, Robertet Group, Symrise AG, Takasago International Corporation, Famille Grasse Parfums, Dina Cosmetics France, Mikrocaps D.O. O, International Flavors & Fragrances Inc, BASF SE, Eleutere-Parfum. Ltd, ATLANTIC Cosmetics, Tereza-Inter LLC, DANKOFF TRADE COMPANY, VERONA PRODUCTS PROFESSIONAL SP. Z O.O, Independent Distributor Of Fm Group, BINALEX, Fragrances For Perfumes, Gabriella Salvete S.R.O, Paul’s Bohemia Trading S.R.O., EB Holdings Inc, Semaj’ R-Tistic Dezignz, Flowerbox Perfumery, Global Interlace Corporation, Scentura Creations, Petite Perfumes, AKL Trading LLC, Parmarperfume Inc., Stereoplasm., Pulp Fragrance, Lurker And Strange, Zoologist Perfumes, Libertine Fragrance, Biomara, Perfumes Class, Simran Herrera Hernandez., Roseto Perfumes S.A., Meroar, The Fragrance Group, Aromas M&M, Malbec, Natura Ekos, Hinode (Larru´S Industria E Comércio De Cosméticos Ltda), Floratta (Grupo Boticário), Natura Humor (Natura & Co, Perfumes Unlimited LLC, AL WARA PERFUMES INDUSTRY LLC, SS GLOBAL FRAGRANCES, AL NOORAN TR. LLC, IYVA INTERNATIONAL, Ajmal, Rasasi, Arabian Oud, Abdul Samad Al Qurashi, The Fragrance Kitchen (TFK), Glowhite Industries Nigeria Limited, Fragrance Bar Studio, Esteem Royale Cosmetics, Doyin Industries Limited, Beneks Manufacturing Nigeria Limited, B. J. Cosmetics. Co. Ltd, Avroy Shlain Cosmetics (Pty) Ltd, Benwood Manufacturing And Packaging Co (Pty) Ltd, Boardman Brothers (Pty) Ltd, Brunational (Pty) Ltd, Conway (Pty) Ltd, Azochem Laboratories (Pty) Ltd, Cape Town Toiletry Company (Pty) Ltd
#What are the major trends in the perfumes market?
There is a growing preference among consumers for natural fragrances in the perfume market. According to the survey conducted by Kari Gran, 75% of millennial women prefer buying natural products, and 44% prefer natural ingredient perfumes. Perfume manufacturing companies are focusing on the development of natural fragrances for perfumes due to rising concerns about allergic reactions and toxins in synthetic ingredients. For instance, IME Natural Perfumes are made up of 100% natural ingredients and are also certified as toxin-free perfumes.
Which geography holds the highest perfumes market share?
Asia-Pacific was the largest region in the perfumes market in 2024. Western Europe was the second-largest region in the global perfumes market. The regions covered in the perfumes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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How do different segments contribute to the overall expansion of the perfumes market?
The perfumes market covered in this report is segmented –
1) By Product: Mass, Premium
2) By Distribution Channel: Offline, Online
3) By End-User Sex: Women, Men, Unisex
Subsegments:
1) By Mass: Designer Mass Fragrances, Celebrity-Endorsed Mass Fragrances, Drugstore and Value Brand Fragrances
2) By Premium: Luxury Fragrances, Niche and Artisan Fragrances, High-End Designer Fragrances
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How is the perfumes market defined?
Perfume is a mixture of fragrant essential oils or aroma compounds, fixatives, and solvents that give a pleasant scent to the human body, animals, food, objects, and living spaces. Perfumes are used to enhance the mood, increase attractiveness, and boost health.
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